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

On the rise

Shares of Cineplex Inc. (CGX-T) jumped 2.5 per cent after Walt Disney Co.'s (DIS-N) blockbuster Avengers: Endgame shattered the record for biggest opening weekend with an estimated US$350-million in US ticket sales and US$1.2-billion globally.

The Avengers finale far exceeded even its own gargantuan expectations, according to studio estimates Sunday. The movie had been forecast to open between US$260-million and US$300-million in U.S. and Canadian theatres, but moviegoers turned out in such droves that Endgame blew past the previous record of US$257.7-million, set last year by Avengers: Infinity War when it narrowly surpassed Star Wars: The Force Awakens (US$266-million in inflation-adjusted dollars.).

Conversely, Disney shares lost 0.4 per cent on the day.

Meanwhile, Imax Corp. (IMAX-N) erased early Avengers-driven games, closing down 0.9 per cent.

The company announced the movie, which was the second Hollywood film to ever be shot entirely with IMAX cameras, set a new IMAX all-time worldwide opening weekend record grossing approximately US$91.5-million. It surpassed Star Wars: The Force Awakens by 92 per cent

“The fact that tens of millions of people all over the world have already enjoyed Avengers: Endgame in just the first few days points to the growing phenomenon we’re seeing among audiences, particularly younger generations, seeking out authentic and extraordinary shared experiences,” said chief executive officer Richard Gelfond in a statement. “Like the Marvel Cinematic Universe, our decade-long relationship with Marvel has only strengthened over time with each film creating a deeper connection between these beloved characters and IMAX audiences worldwide. Endgame was filmed entirely using IMAX cameras, which provides a fully immersive experience that ‘eventicizes’ the film in a way that no other presentation can.”

Shopify Inc. (SHOP-T) was up 1.3 per cent after an equity analyst at KeyBanc initiated coverage of the stock with a “over-weight” rating.

Black Diamond Group Ltd. (BDI-T) jumped 11.5 per cent after it announced its U.S. Workforce Solutions business unit has been awarded a $20-million rental contract, which includes supplying 1,584 beds to support the reconstruction of Paradise, Calif. where one of the largest fires in state history devastated the town and local infrastructure."

“We are pleased to be one of many supporters in the massive undertaking that is to clean-up and rebuild the town of Paradise. Our team is expected to rapidly supply a large contingent of dormitories that will be used to help house the workforce in the clean-up effort,” stated CEO Trevor Haynes.

Copper Mountain Mining Corp. (CMMC-T) rose 1 per cent in the wake of releasing better-than-anticipated first-quarter results before the bell. The Vancouver-based company reported first-quarter revenue of $86.9-million, 11 per cent higher than the first quarter of 2018 and ahead of expectations of $77.4-million.

Net income was $17.8-million or 7 cents per share versus a loss of $6.5-million or 4 cents a year ago. Adjusted net income was $6-million or 3 cents versus adjusted income of $11.6-million or 9 cents a year earlier.

“We started the year solidly, posting higher revenue, earnings and cash flow compared to Q1 last year,” said president and chief executive officer Gil Clausen. “Production and costs were in line with our targets and we are maintaining our annual production guidance. Further, our C1 cash costs and all-in sustaining costs were markedly lower year-over-year. This solid operating base, along with our new life of mine plan integrating the New Ingerbelle Pit, provides a strong foundation for us to grow our business in Canada and Australia.”

Guyana Goldfields Inc. (GUY-T) jumped 2.3 per cent after announcing it has agreed to replace its chief executive officer and is parting ways with three board members, as it reached a proxy settlement with a group of dissident shareholders.

On Monday, Toronto-based Guyana said it will begin the search for a new CEO to replace Scott Caldwell, who had held the position since 2013. Guyana also said that Jean-Pierre Chauvin, Michael Richings and David Beatty are stepping down as board members. The company will propose Alan Pangbourne and Allen Palmiere as part of its revised director slate for its coming annual general meeting.

Tesla Inc. (TSLA-Q) was up 2.7 per cent after saying Monday it could seek alternative sources of financing although it expects cash generated from its business to be enough to fund its investments and pay down debt for at least the next 12 months.

“We continually evaluate our capital expenditure needs and may decide it is best to raise additional capital to fund the rapid growth of our business,” the electric car maker said in a regulatory filing.

On the decline

Shares of Restaurant Brands International Inc. (QSR-T, QSR-N) dropped 1.5 per cent after reporting weaker-than-anticipated first-quarter results. The parent company of Tim Hortons and Burger King reported a profit attributable to common shareholders of US$135-million or 53 cents per diluted share compared with a profit of $148-million or 59 cents per diluted share a year ago.

On an adjusted basis, the Toronto-based company said it earned $255-million or 55 cents per diluted share for the quarter, down from an adjusted profit of $314-million or 66 cents per share in the same quarter last year.

The Street had expected a profit of 58 cents per share for the quarter.

Hudbay Minerals Inc. (HBM-T) was down 2.7 per cent after Waterton Global Resource Management Inc. companies, which own 12.1 per cent of its shares, announced Monday that proxy advisory firm Institutional Shareholder Services Inc. has joined Glass, Lewis & Co. “in recommending that shareholders vote for change at Hudbay.”

The release states that “ISS recommended the election of Waterton’s independent, highly-qualified director nominees – David Smith and Daniel Muniz Quintanilla – to the Hudbay Board of Directors” at the annual shareholder meeting.

“The dissident has highlighted legitimate concerns around the company’s operational performance and capital allocation strategy, which suggest that some degree of board change would be beneficial,” said ISS in its report.

Boeing Co. (BA-N) dipped 0.5 per cent after Chief Executive Dennis Muilenburg faced shareholders for the first time since the two fatal crashes of the company’s 737 Max aircraft.

Mr. Muilenberg said the company was making steady progress toward getting approval for new 737 Max software.

Newmont Goldcorp Corp. (NGT-T) was down 2.6 per cent after announcing it plans to temporarily suspend operations at its Penasquito mine in Mexico due to blockade by a trucking contractor and some members of the Cedros community.

The Penasquito mine, which produced 272,000 ounces of gold in 2018, has been subject to such stoppages in the past as well.

Spotify Technology S.A. (SPOT-N) was down 0.1 per cent despite reporting better-than-anticipated first-quarter revenue and announcing it has reached 100 million paid subscribers for its premium.

However, the company said had 217 million monthly active users (MAUs) in March, up from 173 million during the same period a year ago but below the Street’s expectation of 218.6 million.

Revenue rose 33 per cent to 1.51 billion euros (US$1.69-billion), beating analysts’ estimates of 1.47 billion euros.

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 11:38am EDT.

SymbolName% changeLast
BDI-T
Black Diamond Group Ltd
+1.24%8.96
IMAX-N
Imax Corp
+0.37%16.22
DIS-N
Walt Disney Company
+1.48%122.77
QSR-T
Restaurant Brands International Inc
+0.34%107.7
HBM-T
Hudbay Minerals Inc
+1.71%9.54
TSLA-Q
Tesla Inc
-1.99%176.26
BA-N
Boeing Company
+0.05%192.04
SPOT-N
Spotify Technology S.A.
+2.47%266.62
CGX-T
Cineplex Inc
+0.41%7.4
SHOP-T
Shopify Inc
-0.22%106.47
NGT-T
Newmont Corp
+1.69%48.67

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