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Klarna to Offer Online Payment Options for German Gaming Retailer Mindfactory

Klarna (KLAR) said Monday it entered into a partnership with German gaming retailer Mindfactory to make Klarna's payment options available at Mindfactory's online checkout.Financial terms of the partnership were not disclosed.Price: $12.86, Change: $-0.18, Percent Change: -1.42%

$KLAR

Mining & Metals93d ago

Denarius Metals Moves To Buy Emerita Resources; Comes After OSC Announced Allegations Against Emerita

Denarius Metals Corp. announced Monday that it has delivered a letter to the board of directors of Emerita Resources Corp. (EMO.V) outlining a proposal to acquire all of its issued and outstanding common shares.This comes after the Ontario Securities Commission (OSC) announced Friday enforcement proceedings against Emerita, five of its directors and officers, as well as an individual related to the alleged misconduct. It also comes after EMO, which is edging higher early Monday, lost a third of its value and touched 52 week lows on Friday.Under its proposal, Denarius Metals would acquire Emerita in an all share transaction at a 15% premium to market, based on Emerita's closing share price on the TSX Venture Exchange on April 10, 2026. The proposal contemplates consideration payable entirely in common shares of Denarius, which operates four projects across Colombia and Spain, including the Zancudo gold-silver project in Colombia, which is now in production, and the Aguablanca nickel-copper, Lomero polymetallic, and Toral zinc-lead-silver projects in Spain. Two of these projects, Aguablanca and Lomero, are located near IBW, Emerita's principal project.Denarius said it believes the proposal offers Emerita shareholders a "compelling and certain path to value relative to a standalone development trajectory", and added the proposal is "subject to the negotiation and execution of a mutually acceptable definitive agreement and the satisfaction of customary conditions". There can be no assurance that the proposal will result in a completed transaction.Emerita was down $0.13 or 33% at $0.26, and touched a 52 week low #0.25, last Friday. It was at last look up $0.01 at $0.27 today.

$EMO.V

Oil & Energy93d ago

Update: OPEC Retains 2026 Global Oil Demand Growth in April Update

The Organization of the Petroleum Exporting Countries on Monday projected global oil demand growth for 2026 at 1.4 million barrels per day, unchanged from its forecasts last month.In 2027, global oil demand is expected to grow by a further 1.3 mmb/d year over year, also unchanged from the forecasts in March, the group said in its Monthly Oil Market Report.Liquids production from countries not participating in the Declaration of Cooperation is expected to grow by 600,000 b/d on average in 2026 versus 2025. Growth in 2027 is also estimated at 600,000 b/d over 2026 levels. Both assessments are also unchanged from last month's update.This increase in output is primarily driven by Brazil, Canada, Qatar, the US, and Argentina.Natural gas liquids and non-conventional liquids from countries participating in the Declaration of Cooperation are expected to grow by 100,000 b/d over the year in both 2026 and 2027, averaging 8.8 million b/d and 8.9 million b/d, respectively.Meanwhile, crude oil production by countries participating in the DOC averaged 35.06 million b/d in March, down about 7.70 mb/d month-over-month, compared to 42.72 million b/d reported in February, OPEC said, citing data from secondary sources.Refining margins surged last month across all major regions amid a significant decline in product output and widening middle distillate crack spreads, which recorded multi-year peaks, the group said."Trade flow constraints and refinery run cuts in the East of Suez contributed further pressure on product margins amid the heavy refinery maintenance season. This situation led to a price increase for products that outpaced the rise in feedstock prices, boosting refining profitability," OPEC said.On the US Gulf Coast, gains were seen across all products but primarily driven by middle distillates, while in Rotterdam gains helped square off losses in gasoline and low-sulphur fuel oil. In Singapore, all products except middle distillates reported losses as a significant spike in feedstock costs limited the upside for refining margins in Asia, the report said.OPEC also retained its assessment from last month for global economic growth at 3.1% for 2026 and 3.2% for 2027."Following sound global GDP growth in 2025, estimated at 3.3%, the global economy is expected to be able to generally absorb temporary events like trade-related challenges and the current Middle East geopolitical developments," the report added.

Wire93d ago

Visa Launches Exchange Offer for Class B-1, Class B-2 Shares

Visa (V) said Monday that it has launched an exchange offer for a combination of its class B-3 common stock, class C common stock, and cash consideration in lieu of fractional shares where applicable.The exchange offer will expire May 8.The company said that based on current conversion rates, each class B-1 share will be exchanged for approximately 0.2877 share of class C common stock. It also said each share of class B-2 common stock will be exchanged for approximately 0.1884 share of class C common stock.Price: $303.84, Change: $-0.67, Percent Change: -0.22%

Sectors93d ago

Gold Falls Again As Dollar Rises After U.S. and Iran Fail to Reach a Peace Deal

Gold prices look set to be down for a second day, falling again early Monday as the dollar rose after weekend talks between the United States and Iran failed to reach a peace deal, leaving the Strait of Hormuz blocked and continuing the largest-ever oil supply shock.Gold for May delivery was last seen down $51.90 to US$4,736.00 per ounce.Talks between the U.S. and Iran ended without an agreement to end the war that has blocked the Strait of Hormuz and cut off the 20% of global daily oil demand supplied by Persian Gulf nations. The U.S. plans to blockade Iran's ports following the collapse of the negotiations and block any ships transiting the Strait that have paid a toll to Iran, continuing to keep oil from the market.Oil prices have climbed by nearly half since the Feb. 28 start to the war, pushing up inflation in the U.S. and elsewhere, ending hopes for lower U.S. interest rates. The U.S. last week reported its Consumer Price Index surged by 3.3% annualized in March, up from 2.4% a month earlier.The dollar was higher early, with the ICE dollar index last seen up 0.25 points to 98.90. Treasury yields were little changed, with the yield on the U.S. two-year note last seen unchanged at 3.81%, while the 10-year note was paying 4.33%, down 1.0 points.

$GCK6$GLD

Commodities93d ago

Think Tank Calls for UK Social Tariff as Energy Prices Surge

British independent think tank Resolution Foundation Monday urged the UK government to accelerate the implementation of a social tariff ahead of winter, to help alleviate the growing burden of rising energy prices on households."Higher energy prices due to the conflict in the Middle East are set to deal a blow to British living standards, with market pricing suggesting that the median working-age household will be 480 British pound ($644.62) worse off this year than they would have been if the conflict had not taken place," the organization said.While some lower income families will see a real-terms rise in living standards after revisions to some social benefits, overall the rise in living standards is now forecast at around 1.2% this year, down from a pre-war estimate of a 2.8% increase.For higher income households, which were predicted to see a 0.9% rise in average income this year, that will now likely be closer to 0.6%.With higher energy prices reflecting on utility bills and petrol pump prices, the foundation said a social tariff would protect households from price shocks, especially during winter season, when energy costs typically peak.

Sectors93d ago

Sector Update: Energy Stocks Rise Premarket Monday

Energy stocks were rising premarket Monday, with the State Street Energy Select Sector SPDR ETF (XLE) advancing by 1.6%.The United States Oil Fund (USO) was up 6.7% and The United States Natural Gas Fund (UNG) was 1.6% higher.Front-month US West Texas Intermediate crude oil was 7.3% higher at $103.59 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 6.8% to $101.68 per barrel, and natural gas futures were up 2% at $2.70 per 1 million British Thermal Units.BP's (BP) Namibia unit agreed to acquire a 60% participating interest and operatorship across three offshore exploration licenses from the business, Eco Atlantic said. Shares of BP were up 0.8% pre-bell.Baker Hughes (BKR) shares were up more than 1% after the company said it has signed a deal to sell its Waygate Technologies operations to Stockholm-based Hexagon for about $1.45 billion in cash.EQT (EQT) and KKR (KKR) are among private equity firms showing takeover interest in PolyPeptide Group, Bloomberg News reported, citing people with knowledge of the matter. EQT stock was up more than 1% premarket.

$BKR$BP$EQT$KKR$UNG$USO$XLE

Oil & Energy93d ago

EMEA Natural Gas Update: Futures Rise as US Moves to Blockade Iran, Israel Signals Ceasefire End

European natural gas futures soared about 8% on Monday, after US President Donald Trump declared a blockade against Iran on the Strait of Hormuz.The front-month Dutch TTF contract was up 7.88% to 47.07 euros ($55.06) per megawatt-hour, while UK NBP futures were up 8.08% to 118.55 British pence ($1.59) per therm.In a Truth Social post on Sunday, Trump said the US and Iran failed to reach an agreement during the talks held in Pakistan over the weekend, citing irreconcilable differences over Tehran's nuclear program.In response, Trump said that the US Navy would now begin blockading Iran by preventing ships from entering or leaving the country's ports.He also added that the Navy will seek out and interdict all commercial vessels that have paid a toll to Iran to secure passage through the Strait. "No one who pays an illegal toll will have safe passage on the high seas," he said.On Sunday, in a post on X, US Central Command said that they will begin the blockade starting Monday at 10 AM ET, while noting that it will not impede freedom of navigation for other vessels transiting through the Strait "to and from non-Iranian ports."Meanwhile, Iran's Islamic Revolutionary Guard Corps Navy has said that the crucial waterway that accounts for 20% of global LNG flows, "will never return to its former state, especially for the US and Israel," according to a report by Hindustan Times, citing Iran's Press TV.Besides this, Israeli Prime Minister Benjamin Netanyahu has reportedly warned that the two-weeks long ceasefire could come to an end sooner than expected, according to various media outlets, sparking fresh concerns on commercial vessel movement on the Strait.The Strait remained effectively closed for the seventh week running, but witnessed an uptick in traffic, with 10 vessels transiting over the past 24 hours, according to the Hormuz Strait Monitor.This marks a sharp decline from the Strait's typical daily average of 138 vessels, according to the UK's Joint Maritime Information Center, which also noted that there have been no new attacks against vessels over the past 48 hours.According to Daniel Hynes, a senior commodity strategist at ANZ, these developments over the weekend "will exacerbate the supply disruptions" already facing the global economy.Hynes noted that no LNG tankers have transited through the Strait for weeks, adding that the conflict has shifted the outlook from "gradual easing to prolonged tightness."While most Middle Eastern LNG flows typically head towards Asia, this prolonged disruption is increasing global supply competition, leading to elevated prices in European markets, especially as countries begin to refill their inventories for the next winter.Europe's storage levels remain depleted, at just 29.34% of inventory, compared to 35.11% during the corresponding period a year ago, according to Gas Infrastructure Europe.On a positive note, most parts of Europe are expected to experience above-normal temperatures this Summer, which stands to diminish heating gas demand in the near-term, according to Severe-Weather EU.

Treasury93d ago

Canadian Economy "Lacks a Vibrant Jobs Market", Says Rosenberg Research

There were no big surprises to Canada's latest employment data, with job gains of 14,100 in March, just a tad below the consensus estimate of 15,000, said Rosenberg Research after Friday's Labour Force Survey (LFS).This recouped but a fraction of the 83,900 plunge in February, the research noted, before adding: "Only if you believe that "flat is the new up" can anyone possibly interpret the data positively, because employment in Canada has virtually stagnated since last June -- a stretch of weakness Canada hasn't seen since late 2020, when people thought the [COVID-19] pandemic would never end."After the sharp 108,400 hit to full-time employment in February, the research noted, there was a further loss of 1,100 this past month. It says a whole lot that the number of full-time positions is down 40,000 over the past six months -- with a notable labor market shift towards part-time employment, which is up more than 80,000 over this time frame, Rosenberg said, noting the unemployment rate stayed at a "lofty" 6.7%, and the employment-to-population ratio also stagnated at 60.6%.In terms of the sectors that weighed on the jobs headline, the research noted wholesale/retail trade lost 6,700 jobs and is down in four of the past five months, while hotels/restaurants let go of 10,000 employees and are riding a four-month losing streak. When consumer-facing industries are firing people to this extent, Rosenberg pointed out it definitely knows that Canadian demand is in the "dumpster."According to the research, what the banks see that the macro bulls don't is an interesting dichotomy, because the financial sector fired a net 11,200 workers in March after paring the staff load by 8,700 in February -- this was the sharpest successive decline since September 2023 and before that, try April 2020.Suffice it to say that if there is one certainty, it is that the Canadian economy lacks a vibrant jobs market. In fact, "sclerotic" is more like it, it added.

$CXY

Sectors93d ago

Sector Update: Financial Stocks Fall Premarket Monday

Financial stocks were falling premarket Monday, with the State Street Financial Select Sector SPDR ETF (XLF) declining by 0.9%.The Direxion Daily Financial Bull 3X Shares (FAS) was 2.7% lower and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was up 2.7%.Goldman Sachs (GS) stock was down more than 3% even after the company reported higher Q1 earnings and net revenue.Lazard (LAZ) shares were down more than 1% after the company reported preliminary assets under management of approximately $259.2 billion as of March 31, compared with $277.7 billion the previous month.KKR (KKR) said its real estate arm plans to significantly ramp up property acquisitions in Japan, targeting a market it estimates at about 450 trillion yen ($2.8 trillion), as companies increasingly divest non-core assets, Bloomberg reported. KKR shares were 0.8% lower pre-bell.

$FAS$FAZ$GS$KKR$LAZ$XLF

Sectors93d ago

Sector Update: Health Care Stocks Mixed Pre-Bell Monday

Health care stocks were mixed pre-bell Monday, with the State Street Health Care Select Sector SPDR ETF (XLV) 0.5% lower and the iShares Biotechnology ETF (IBB) up 0.4%Spyre Therapeutics (SYRE) shares were up more than 29% after the company said its SPY001 investigational treatment for moderate-to-severely active ulcerative colitis met its primary and key secondary endpoints in a phase 2 trial.IDEAYA Biosciences (IDYA) stock was up more than 5% after the company said its phase 2/3 registrational trial evaluating darovasertib in combination with crizotinib in patients with metastatic uveal melanoma met its primary endpoint.Regeneron Pharmaceuticals (REGN) and Telix Pharmaceuticals (TLX) said they will jointly develop and commercialize next-generation radiopharmaceutical therapies. Telix Pharmaceuticals shares were up more than 5% premarket.

$IBB$IDYA$REGN$SYRE$TLX$XLV

Commodities93d ago

Exchange-Traded Funds, Equity Futures Lower Pre-Bell Monday as Trump Prepares to Block Strait of Hormuz

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.7% and the actively traded Invesco QQQ Trust (QQQ) retreated 0.6% in Monday's premarket activity after US President Donald Trump said the US will block the Strait of Hormuz following unsuccessful negotiations with Iran over the weekend.US stock futures were also lower, with S&P 500 Index futures down 0.6%, Dow Jones Industrial Average futures slipping 1%, and Nasdaq futures retreating 0.7% before the start of regular trading.The existing home sales data for March will be released at 10 am ET.Federal Reserve Governor Stephen Miran is slated to speak on Monday.In premarket activity, bitcoin was down by 0.4%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 3.2% lower, Ether ETF (EETH) retreated 3.1%, and Bitcoin & Ether Market Cap Weight ETF (BETH) declined by 0.1%.Power Play:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) retreated 0.3%, the Vanguard Health Care Index Fund (VHT) was up 0.1%, while the iShares US Healthcare ETF (IYH) gained 0.1%. The iShares Biotechnology ETF (IBB) was down 0.7%.Spyre Therapeutics (SYRE) stock was up more than 24% premarket after the company said that its SPY001 investigational drug to treat moderate-to-severely active ulcerative colitis met its primary and key secondary endpoints in a phase 2 trial.Winners and Losers:ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.1% and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) retreated by 0.5%. The iShares US Consumer Staples ETF (IYK) was up 0.3%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.8%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was 0.5% lower.Leggett & Platt (LEG) shares were up more than 8% pre-bell after Somnigroup International (SGI) agreed to acquire Leggett & Platt in an all-stock deal valued at about $2.50 billion. Somnigroup stock was down 1.7% premarket.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 0.9%, and the iShares US Technology ETF (IYW) was flat, while the iShares Expanded Tech Sector ETF (IGM) was down 1.5%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) was 0.8% lower, while the iShares Semiconductor ETF (SOXX) declined by 1%.ON Semiconductor (ON) shares were up more than 3% in premarket activity after BofA Securities upgraded the company's stock to buy from neutral.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) fell by 1%. Direxion Daily Financial Bull 3X Shares (FAS) declined by 2.6%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 2.9% higher.Lloyds Banking Group (LYG) shares were down more than 2% pre-bell after the company said it is "moving forward" with the UK Financial Conduct Authority's motor finance redress scheme.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) retreated by 0.7%, while the Vanguard Industrials Index Fund (VIS) fell 0.8% and the iShares US Industrials ETF (IYJ) was 0.4% lower.MDA Space (MDA) stock was up more than 1% before the opening bell after the company introduced a space control platform aimed at helping defense organizations monitor, protect, and secure critical space infrastructure.EnergyThe iShares US Energy ETF (IYE) was up 1.7%, while the State Street Energy Select Sector SPDR ETF (XLE) rose by 1.9%.Baker Hughes (BKR) stock was up more than 1% before Monday's opening bell after the company said it has signed a deal to sell its Waygate Technologies operations to Stockholm-based Hexagon for about $1.45 billion in cash.CommoditiesFront-month US West Texas Intermediate crude oil rose by 8% to $104.27 per barrel on the New York Mercantile Exchange. Natural gas advanced by 2.5% to $2.72 per 1 million British Thermal Units. The United States Oil Fund (USO) was up by 7.4%, while the United States Natural Gas Fund (UNG) was 1.9% higher.Gold futures for May were down by 1.2% at $4,728.90 an ounce on the Comex. Silver futures fell by 3.1% to $74.11 an ounce. SPDR Gold Shares (GLD) was 1% lower, and the iShares Silver Trust (SLV) advanced by 2.8%.

Dow JonesNasdaq CompositeS&P 500$BETH$BITO$BKR$EEM$EETH$EXI$FAS$FAZ$GLD$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$LEG$LYG$MDA$ON$PMR$QQQ$RTH$SGI$SLV$SOXX$SPY$SYRE$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD

Sectors93d ago

Sector Update: Consumer Stocks Lean Lower Pre-Bell Monday

Consumer stocks were leaning lower pre-bell Monday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) down 0.2% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) declining by 0.6%.Somnigroup International (SGI) has agreed to acquire Leggett & Platt (LEG) in an all-stock deal valued at about $2.5 billion, the companies said. Leggett & Platt stock was up more than 8% and Somnigroup International shares were down more than 1% premarket.McDonald's (MCD) plans to roll out a new lineup of cold beverages in the US, including a Red Bull Dragonberry Energizer, The Wall Street Journal reported, citing company documents and people familiar with the matter. McDonald's shares were 0.1% lower pre-bell.JBS (JBS) has struck a new two-year collective bargaining agreement with workers at its Swift Beef plant in Colorado, according to statements on Sunday from the United Food and Commercial Workers Local 7 union and the company. JBS stock was down 0.2% premarket.

$JBS$LEG$MCD$SGI$XLP$XLY

Sectors93d ago

Sector Update: Tech Stocks Decline Premarket Monday

Technology stocks were declining premarket Monday, with the State Street Technology Select Sector SPDR Fund (XLK) down 0.6% and the State Street SPDR S&P Semiconductor ETF (XSD) 0.8% lower.Sony (SONY), SoftBank, NEC and Honda Motor (HMC) have jointly established a new artificial intelligence company to develop a domestic AI foundation model for use by Japanese companies, multiple media outlets reported. Shares of Sony Group were down more than 2% pre-bell.Aeluma (ALMU) stock was up more than 25% after the company said it has won more than $4 million in contracts to scale the US government's semiconductor heterogeneous integration platform for quantum and high-speed datacom applications.Cisco Systems (CSCO) is in discussions to acquire Israeli cybersecurity startup Astrix Security for $250 million to $350 million, The Information reported, citing people with knowledge of the deal. Cisco Systems shares were 0.6% lower pre-bell.

$ALMU$CSCO$HMC$SONY$XLK$XSD

Asia93d ago

Energy International Investments Raises HK$252.1 Million from Share Sale

Energy International Investments (HKG:0353) completed the issue of nearly 1.04 billion shares to three subscribers at HK$0.245 apiece to raise net proceeds of HK$252.1 million, according to a Monday Hong Kong bourse filing.The shares represent roughly 48.92% of the oil and liquefied chemical terminal operator's enlarged issued share capital.The subscribers comprise controlling shareholder Cosmic Shine International, associate Wong Wai Lam, and independent third party Sun Ke.

HKG:0353

Research93d ago

Research Alert: Fastenal: Q1 Results In Line, Manufacturing Markets Recovering

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:FAST's Q1 results were largely in line with expectations, with net sales rising 12.4% to $2.2B, supported by manufacturing sector expansion and continued market share gains. Contract customer sales outpaced non-contract sales, growing 14.6% vs. 6.7%, reflecting FAST's focus on larger account signings, while heavy manufacturing led with 14.1% growth. Technology-enabled customer sites continued driving performance, with high-value sites ($50k+ monthly spend) reaching 2,909 locations. The operating margin expanded 20 bps to 20.3% despite gross margin compression, as SG&A expenses improved 70 bps as a percentage of sales to 24.3%. Shares traded lower this morning despite meeting consensus estimates, implying the market anticipated stronger results amid favorable manufacturing conditions, in our view. As shares trade nearly 40x on a forward P/E basis, we see less room for quarterly results that don't surprise to the upside.

$FAST

Sectors93d ago

Sector Update: Energy

Energy stocks were rising premarket Monday, with the State Street Energy Select Sector SPDR ETF (XLE) advancing by 1.6%.The United States Oil Fund (USO) was up 7% and the United States Natural Gas Fund (UNG) was 1.9% higher.Front-month US West Texas Intermediate crude oil was 7.3% higher at $103.57 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 6.9% to $101.85 per barrel, and natural gas futures were up 1.9% at $2.70 per 1 million British Thermal Units.BP's (BP) Namibia unit agreed to acquire a 60% participating interest and operatorship across three offshore exploration licenses from the business, Eco Atlantic said. Shares of BP were up 0.9% pre-bell.

$BP

Commodities93d ago

Netanyahu Reportedly Warns of Ceasefire Ending Soon; Supports Trump's Naval Blockade Plan: Media Outlets

Asia93d ago

Skyfame Realty, Potential Investor to Exclusively Negotiate on Proposed Restructuring

Skyfame Realty (HKG:0059) entered into an exclusivity agreement with investor Lion Wealth Management and the firm's joint and several provisional liquidators on April 10, according to a Monday Hong Kong bourse filing.Under the legally binding contract, the firm and the investor will negotiate on a proposed restructuring of the company over a six-month exclusivity period and strive to enter a formal agreement.The proposed restructuring will enable the resumption of the trading of Skyfame Realty's shares on the Hong Kong bourse.The move comes as part of an effort by the joint and several provisional liquidators to explore restructuring opportunities since their appointment on Aug. 15, 2022, as well as following a winding-up order against the firm on Nov. 14, 2025.Trading in the firm's debts and shares on the Hong Kong Stock Exchange, which was suspended June 28, 2022, and April 1, 2025, respectively, remains suspended.

HKG:0059

Mining & Metals93d ago

AutoCanada Completes Sale Of Hyundai Of Lincolnwood Dealership

AutoCanada (ACQ.TO) Monday said it completed the sale of Hyundai of Lincolnwood, in Lincolnwood, Illinois, which was a part of the U.S. dealerships reclassified as discontinued operations at year-end 2024.The company said it received about $3.3 million in cash for goodwill and fixed assets, excluding inventory and net working capital. Proceeds will be directed towards reducing the outstanding balance of its revolving credit facility."The sale of Hyundai Lincolnwood represents further advancement in the Company's strategy to divest its U.S. Operations segment, enhance overall profitability, and lower leverage," said AutoCanada in a statement."Following the classification of the U.S. segment as discontinued operations at the end of 2024, the Company has realized approximately $65.8 million in gross proceeds, net of working capital, from the divestiture of U.S. assets."AutoCanada said it continues to expect proceeds from the sale of all its U.S. dealerships to be at the upper end of its previously disclosed $115 million to $130 million range. The U.S. dealership portfolio generated a net loss from discontinued operations of $103.4 million in 2024.Shares of the company closed up 1.8% to $21.1 on Friday on the Toronto Stock Exchange.

$ACQ.TO

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Commodities93d ago