Canada

Shares of BlackBerry Ltd. soared 31.1% toward a more-than 9-year high in morning trading Monday, to extend the rocket-ride seen over the past several sessions. Trading volume ballooned to 180.2 million shares, compared with the full-day average over the past 30 days of 31.1 million shares. The Canada-based cyber security software company's U.S.-listed stock, which is on track for the highest close since December 2011, blasted 42.7% higher last week, the biggest weekly gain since the week ended Dec. 26, 2003. The stock has now run up 147.6% amid a 7-day win streak. The company commented on the recent trading in its stock, at the request of the Investment Industry Regulatory Organization of Canada (IIROC): "The company is not aware of any material, undisclosed corporate developments and has not material change in its business or affairs that has not been publicly disclosed that would account for the recent increase in the market price or trading volume of its common shares." The stock has soared 259.6% over the past three months, while the ETFMG Prime Cyber Security ETF climbed 28.3% and the S&P 500 has gained 10.3%.

Shares of United Parcel Service Inc. announced Monday an agreement to sell its UPS Freight (UPSF) business for $800 million to Canada-based trucking company TFI International Inc. . UPS expects to record a $500 million impairment charge on its 2020 results as a result of the deal, which is expected to close during the second quarter of 2021. The package delivery giant said it decided to sell UPSF after a "thorough evaluation" of its portfolio, as part of its "better not bigger" strategic positioning plan. "The agreement allows UPS to be even more laser-focused on the core parts of our business that drive the greatest value for our customers," said UPS Chief Executive Carol Tomé. UPS stock, which rose 1.9% in premarket trading, has dropped 7.5% over the past three months through Friday, while TFI's U.S.-listed shares have gained 2.0%, the Dow Jones Transportation Average has tacked on 8.2% and the Dow Jones Industrial Average has advanced 9.4%.

Telus International Inc. has set terms for its initial public offering, in which the Canada-based telecommunications company looks to raise up to about $548.2 million. The company is offering 21.93 million shares in the IPO, while selling shareholders are offering 11.40 million shares, for a total of 33.33 million shares offered. The IPO is expected to price between $23 and $25 a share. With 223.73 million shares outstanding after the IPO, the pricing values the company at up to $5.59 billion. The company has applied for its shares to list on the New York Stock Exchange and the Toronto Stock Exchange, under the ticker symbol "TIXT." J.P. Morgan and Morgan Stanley are the lead bookrunners of the IPO. For the nine months ended Sept. 30, the company reported net income of $81.9 million on revenue of $1.14 billion, after net income of $41.7 million on revenue of $747.1 million in the year-ago period. The company is looking to go public at a time that the Renaissance IPO ETF has rallied 30.0% over the past three months while the S&P 500 has gained 10.9%.

Aurora Cannabis Inc.'s $125 million bought-deal financing is not surprising, but may not be enough for the Canadian company to establish a needed foothold in the U.S., Jefferies analyst Owen Bennett said Friday. "Following ACB's recent business update and restructured credit facility, we flagged a risk of underinvestment," Bennett wrote in a note to clients. Since that update, "US political developments also mean the US market could open up sooner rather than later. ACB will certainly need cash to establish a US foothold, yet we still wonder if this is enough. Further, a strong US presence is arguably required to support the current multiple," the analyst wrote. Jefferies rates Aurora as underperform with a $3.58 stock price target. The company announced the capital raise late Thursday and Bennett estimates its total implied dilution at 9% and up to 9.8% if the underwriters exercise an option to purchase an additional 10% of the units offered within a 30-day window. Aurora's balance sheet rules out acquiring U.S. assets unless it issues shares at a material dilution, said Bennett. "Although it could leverage an existing CBD infrastructure, we wonder whether it has enough capital to support a leading CBD business (look how much Canopy is spending on that business segment alone), never mind expanding that into THC," he wrote. "So while the additional cash is encouraging, we do wonder if still too little to really get a strong US CBD and THC presence." Aurora shares were down 6% premarket but have gained 130% in the last three months, while the Cannabis ETF has gained 82% and the S&P 500 has gained 12%.

Zenabis Global Inc. said Friday it has entered a revolving credit agreement with a Canadian private debt fund for up to C$60 million ($47 million) that it will use to refinance more expensive debt held by Sundial Growers Inc. . The credit facility carries an interest rate per annum of the greater of 10% or the Toronto-Dominion Bank's prime rate, from time to time, plus 7.55% calculated daily and payable monthly. The debt held by Sundial has an interest rate of 14% per annum. "This committed revolving credit facility will enable the Company to substantially reduce its cost of capital while providing increased liquidity with which to finance Zenabis' continuing revenue growth and increase its operating flexibility," Chief Executive Shai Altman said in a statement. In December, Sundial closed the acquisition of a special purpose vehicle for C$58.9 million in cash. The special purpose vehicle owns C$58.9 million of senior secured debt issued by Zenabis Investment Ltd, a unit of Zenabis Global. Zenabis' U.S.-listed shares were not active premarket. Sundial was down 3%.

Oil futures finish higher Monday, lifted by supply concerns as Iraq reportedly plans to cut production and Libya sees disruptions to crude exports due to a pay dispute.

Gold futures end lower on Monday, down a third straight session, as government bond yields pulled back and the U.S. dollar strengthened, ahead of a Federal Reserve meeting on monetary policy later this week.

An end to the pandemic could lead to additional gains for the stock market's hottest sector.

Oil futures decline on Friday, pulling U.S. prices lower for the week, after U.S. government data reveal an unexpected weekly rise in domestic crude supplies. A resurgence of COVID-19 infections in China and Southeast Asia also raises concerns about near-term oil demand.

Retirees can ignore economists, pundits and your opinionated relatives -- for now