While most summers tend to be quiet on the market front, this year has been a bit of an exception. Given another rate hike from the U.S. Federal Reserve, traders have been weighing their portfolios. The Dow Jones has been riding a lucky 13-session win streak, while the TSX has averaged a bit higher thanks to broad gains outweighing some sector declines.
On the Bullboards, discussion has been as spicy as ever, though the popular names should come as no surprise …
The country’s largest airline, Air Canada (TSX:AC, Forum) and Emirates have increased their partnership, now operating from the same terminal at Dubai International Airport.
Air Canada is moving its operations to Terminal 3, the same terminal where Emirates operates, which will facilitate the connection process for passengers.
After the COVID-19 pandemic, Air Canada resumed its flight from Toronto Pearson International Airport to Dubai in June 2021. In July 2022, the two airlines announced a strategic partnership, including a codeshare agreement. The codeshare agreement has since grown to include more than 42 routes.
Like moving in with your significant other, Air Canada Executive Vice President Network and Revenue Planning Mark Galardo called his airline’s new home-away-from-home an important milestone.
“In addition to Air Canada’s customers benefiting from seamless onward connections to destinations in the Middle East, Africa, Southeast Asia and the Indian subcontinent with our codeshare and frequent flyer partner Emirates, they will also enjoy an elevated experience throughout their airport journey,” Galardo said in a statement.
Cannabis consumer packaged goods (CPG) company Tilray Brands Inc. (TSX:TLRY, Forum) released financial results for its fiscal Q4 2023, revealing full-year revenue of US$627 million, a decrease of 0.2 per cent compared to US$628 million in the prior fiscal year.
What the “Buzz”
Our Bullboards have up to 2 million pageviews a day. Get the inside scoop on conversations around the most significant trends and stock appreciations in our weekly wrap up.
Get “Buzz on the Bullboards” delivered to your inbox every Thursday!
Buzz on the Bullboards | Sign Up Here
It was a record revenue increase, despite missing analysts’ expectations. The company’s net loss was reduced by 74 per cent year-over-year to US$120 million, while its adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) for the period grew by around 93 per cent year-over-year to US$22 million. Revenue rose by 20 per cent to US$184.19 million, surpassing economists’ projections of US$154 million.
Tilray’s market position has grown thanks to its acquisition of HEXO. Despite being down 36 per cent since this time last year, its TSX stock has grown 27 per cent over the month.
New Found Gold Corp. (TSXV:NFG, Forum) has unearthed more results from its 500,000-metre drill program at the Queensway Project, where high-grade mineralization had been traced over 3 km of strike.
New Found’s flagship Queensway project comprises a 1,662 square km area, 15 km west of Gander, Newfoundland.
The company has broken ground on its 10,000-metre phase II drilling program at Queensway South, which is part of the Queensway Project and covers 65 kilometres of strike extension on the Appleton and JBP fault zones.
Source: New Found Gold Corp.
The program will follow up on the inaugural 2022 program that tested early stage exploration targets along 18.5 km of the Appleton Fault Zone.
The inaugural program intersected significant gold mineralization in 27 of 33 drill holes and visible gold in 10 drill holes over four target areas.
Besides new high-priority targets, key focuses for drilling include Pauls Pond, which features a high concentration of gold anomalies highlighted by 19 g/t Au over 3.15 metres and 3.70 g/t Au over 4.30 metres. The anomalies, Astronaut, Nova and Nebula are parallel structures accounting for more than 1,600 metres by 250 metres of strike length.
Another focus, the Devils Pond Trend, offers two discoveries with broad domains of highly anomalous gold. Highlights include 0.47 g/t Au over 8 metres and 1.01 g/t Au over 8.8 metres.
Join the discussion: Find out what everybody’s saying about public companies and hot topics about stocks at Stockhouse’s stock forums and message boards.
The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, click here.