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8:36 a.m. Today
Penn National Gaming to acquire theScore from Score Media for about $2.0 billion in cash and stock, Score shares jump 65% premarket

Penn National Gaming Inc. said Thursday it has agreed to acquire theScore, a digital media and sports betting company, from Toronto-based Score Media and Gaming Inc. for about $2.0 billion in cash and stock. Under the terms of the deal, theScore shareholders will receive $17 in cash and 0.2398 Penn shares for each theScore share owned, equal to $23 a share based on Penn National's 5-day volume weighted average trading price as of July 30. The deal has been approved by the boards of both companies and is expected to close in the first quarter of 2022. Penn is planning to finance the cash portion of the deal of about $1 billion with existing cash. Penn Chief Executive Jay Snowden said theScore is the leading sports app in Canada and third most popular in all of North America. "theScore's unique media platform and modern, state-of-the art technology is a powerful complement to the reach of Barstool Sports and its popular personalities and content," he said in a statement. Score Media shares jumped 65% premarket after resuming trading following a halt for the deal news. Penn shares were up 0.6% premarket but are down 23% in the year to date, while the S&P 500 has gained 17%.

7:31 a.m. Today
Affirm stock rallies after report of plans to work with Apple in Canada

An already busy week in the buy-now, pay-later (BNPL) market got even busier Tuesday after a report indicated that Apple Inc. plans to work with Affirm Holdings Inc. on an installment offering for those looking to buy various Apple devices in Canada.

7:48 p.m. Aug. 3, 2021
Bausch Health shares slide 6% premarket after surprise loss, says will seek IPO of Solta Medical business

Bausch Health Companies Inc. shares fell 6% in premarket trade Tuesday, after the company posted a surprise loss in the second quarter, hurt by higher costs stemming from litigation, selling, general and administration expenses and the impact of a recall caused by a quality issue at a third-party supplier. The loss came to $595 million, or $1.66 a share, wider than the loss of $326 million, or 92 cents a share, posted in the year-earlier period. Revenue rose to $2.100 billion rom $1.664 billion. The FactSet consensus was for EPS of 95 cents and revenue of $2.118 billion. The company, the former Valeant, lowered its full-year guidance and now expects revenue of $8.40 billion to $8.60 billion, down from earlier guidance of $8.60 billion to $8.80 billion. The FactSet consensus is for $8.60 billion. It made several other announcements with earnings, including that Thomas J. Appio will become CEO of Bausch Pharma as soon as the separation of the Bausch & Lomb eye health care business has been completed. The company will seek an initial public offering of its Solta Medical business, a provider in medical aesthetics. Shares have gained 43% in the year to date, while the S&P 500 has gained 16.8%.

7:49 a.m. Aug. 3, 2021
Burger King parent Restaurant Brands tops consensus estimates, resumes dividend and share buybacks

Restaurant Brands International Inc. posted above-consensus earnings for the second quarter on Friday, after the COVID-19 pandemic hurt business in the year-earlier period. The parent of Burger King and Tim Hortons said it had net income of $390 million, or 84 cents a share, for the quarter, up from $163 million, or 35 cents a share, in the year-earlier period. Adjusted per-share earnings came to 77 cents, ahead of the 61 cents FactSet consensus. Revenue rose to $1.438 billion from $1.048 billion, also ahead of the $1.369 billion FactSet consensus. Digital sales rose nearly 60% in home markets and were up 15% from the prior quarter. Chief Executive José E. Cil said he was encouraged by the momentum across the business and the rapid adoption of digital channels by customers. The board has approved a dividend and a $1 billion share buyback program, he said. Burger King sales rose 37.9% to $5.883 billion, while Tim Horton sales rose 33% to $1.637 billion. Shares were slightly higher premarket and have gained 6.2% in the year to date, while the S&P 500 has gained 17.7%.

6:51 a.m. July 30, 2021
8/5/2021 4:30pm
Royal Bank of Canada
+0.72 +0.57%
8/5/2021 4:00pm
Suncor Energy Inc.
+0.55 +2.30%
8/5/2021 4:00pm
Barrick Gold Corp.
-0.60 -2.21%
8/5/2021 3:50pm
Potent Ventures Inc.
0.00 0.00%
8/5/2021 4:00pm
Bank of Montreal
+1.48 +1.19%
8/5/2021 2:56pm
Augusta Gold Corp.
-0.04 -2.38%
8/5/2021 4:00pm
Canadian Imperial Bank of Commerce
+0.77 +0.53%
8/5/2021 4:00pm
Bombardier Inc. Cl B SV
+0.10 +6.67%


Gold futures end lower as Treasury yields pop higher

Gold futures close slightly lower Thursday, quashing bullion's attempt to deliver its first back-to-back gain since mid July, as Treasury yields climb higher but still hang near lows not seen since mid to early February.

2:08 p.m. Today
Oil extends losing streak to 3rd day as U.S. crude inventories rise

Oil futures extend a losing streak to three days, remaining under pressure after official data shows an unexpected rise in U.S. crude inventories.

3:27 p.m. Aug. 4, 2021
Oil ends lower, extends drop as COVID spread stokes demand worries

Oil futures give up early gains to finish lower, extending a selloff from the previous session blamed on worries about the spread of the delta variant of the coronavirus that causes COVID-19.

3:16 p.m. Aug. 3, 2021
Gold futures end lower Tuesday as yields, dollar perk up

Gold futures finish lower Tuesday as equity markets tilt higher and U.S. Treasury yields and the dollar edge up.

2:20 p.m. Aug. 3, 2021
New coronavirus wave is giving credence to the risks of a U.S. stagflation-like scenario

Latest wave raises concerns "that this might be the new normal," BMO Capital Markets strategists Ian Lyngen and Ben Jeffery write in a note.

12:07 p.m. Aug. 3, 2021
Global Dow /zigman2/quotes/210599024/realtime 4,026.34 +22.30 +0.56%
Gold /zigman2/quotes/210034565/delayed 1,806.20 -8.30 -0.46%
Brent crude /zigman2/quotes/209704782/delayed 71.29 0.00 0.00%
Natural gas /zigman2/quotes/210189548/delayed 4.16 -0.0020 -0.05%

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