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A roundup of some of the North American equities making moves in both directions today

On the rise

TSX-listed energy stocks jumped over 1.6 per cent on Monday after oil prices jumped to a near six-month high, on growing concern about tight global supplies after the United States announced a further clampdown on Iranian oil exports.

Crescent Point Energy Corp. (CPG-T) rose 7.5 per cent, while Baytex Energy Corp. (BTE-T) and MEG Energy Corp. (MEG-T) sat 6.8 per cent and 2.5 per cent higher, respectively.

Shares of Canopy Growth Corp. (WEED-T) rose 7.9 per cent after a pair of equity analysts on the Street raised their ratings for its stock.

On Thursday, Canada’s largest cannabis producer announced has secured the right to buy U.S. cannabis producer Acreage Holdings Inc. should federal marijuana laws change in the United States.

After surging nearly 30 per cent on its first day of trading, Pinterest Inc. (PINS-N) rose another 1.9 per cent. On Thursday, the online scrapbook company opened at US$23.75, well above the US$19 they were priced at, and closed at US$24.40.

Shares of Zoom Video Communications Inc. (ZM-Q), a U.S.-based video conferencing company, was up 5.9 per cent on the heels of closing 72 per cent above its IPO price (US$36) on its first day of trading on Thursday.

On the decline

Shares of Rogers Communications Inc. (RCI-B-T) dipped 3.8 per cent after a pair of equity analysts downgraded their ratings for its stock.

On Thursday, the Toronto-based company surprised investors with fewer new customers across the board and weaker financials than expected in the first quarter.

U.S. oilfield services provider Halliburton Co. (HAL-N) erased early gains and slipped 0.1 per cent on Monday after called the bottom of a pricing downturn that has plagued the sector and surprising the Street by announcing first-quarter activity levels in North America were higher than the same period a year ago.

“We believe the worst in the pricing deterioration is now behind us. For the next couple of quarters, I see demand for our services progressing modestly,” said chief executive officer Jeff Miller in a release announcing its quarterly results.

On an adjusted basis, the Houston-based company earned 23 US cents per share, exceeding the expectations on the Street by a penny.

Kraft Heinz Co. (KHC-Q) fell 0.2 per cent after announcing before market open Miguel Patricio will replace Bernardo Hees as the company’s chief executive officer.

Mr. Patricio, an executive at Anheuser-Busch InBev, will take over at the beginning of July.

“Miguel is a proven business leader with a distinguished track record of building iconic consumer brands around the globe, driving top-line revenue growth through a focus on consumer-first marketing, innovation, and people development,” said chairman Alex Behring in a release.

In an interview published on Monday, the Wall Street Journal quoted Mr. Patricio as saying he planned to move the Heinz ketchup maker’s strategy in a new direction after cuts that have left its brands in a weaker position to compete on store shelves.

Bed Bath & Beyond Inc. (BBBY-Q) was down 4 per cent after announcing it has appointed five new independent members to its board, replacing some directors including co-founders Warren Eisenberg and Leonard Feinstein, after facing pressure from activist investors Legion Partners Asset Management LLC, Macellum Advisors GP LLC and Ancora Advisors LLC.

The trio own about 5-per-cent stake in the New Jersey-based company.

“The transformed Board will reflect significant diversity across race, gender and ethnicity, and have an average tenure of less than four years. The Company also announced a series of additional governance enhancements,” it said in a release.

Boeing Co. (BA-N) lost 1.3 per cent following a New York Times report over the weekend that the company’s factory in South Carolina, which makes the 787 Dreamliner, has been plagued by shoddy production and weak oversight that have threatened to compromise safety.

Tesla Inc. (TSLA-Q) fell 3.9 per cent after the electric car company said it has sent a team to investigate a video on Chinese social media which showed a parked Tesla Model S car exploding.

The video, time stamped Sunday evening and widely shared on China’s Twitter-like Weibo, shows the parked EV emit smoke and burst into flames seconds later. A video purportedly of the aftermath showed a line of three cars completely destroyed.

With files from staff and wires

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Tickers mentioned in this story

Study and track financial data on any traded entity: click to open the full quote page. Data updated as of 28/03/24 4:00pm EDT.

SymbolName% changeLast
RCI-B-T
Rogers Communications Inc Cl B NV
-0.72%55.5
CPG-T
Crescent Point Energy Corp
+1.19%11.08
BTE-T
Baytex Energy Corp
+2.52%4.89
TSLA-Q
Tesla Inc
-2.25%175.79
BA-N
Boeing Company
+0.54%192.99
WEED-T
Canopy Growth Corp
-9.96%11.66
MEG-T
Meg Energy Corp
+0.81%31.1
HAL-N
Halliburton Company
+1.52%39.42
KHC-Q
Kraft Heinz Company
+1.01%36.9
ZM-Q
Zoom Video Communications Cl A
-1.88%65.37
PINS-N
Pinterest Inc
-0.6%34.67

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