Powering pot sales
Shopify Inc. will report third-quarter 2018 financial results on Thursday. Shopify-powered online cannabis stores for Ontario, British Columbia, Newfoundland and Prince Edward Island, along with a number of private retailers, collectively processed more than 100 orders per minute on Oct. 17, when recreational cannabis officially became legal in Canada.
Canadian National Railway Co. releases its third-quarter results on Tuesday. CN and its rival Canadian Pacific said in September that they believe beefed up inventories of locomotives, hopper cars and extra staff will help to prevent a repeat of last winter's grain-shipping backlog that farmers have said cost them millions of dollars in lost income.
The Bank of Canada will announce its decision for the overnight rate target on Wednesday and release its updated forecast for the economy. A recent survey by the central bank suggested companies are optimistic about the year ahead, lending further credence to the expectation of another interest rate hike. The bank has raised its key interest rate target by a quarter of a percentage point four times since July 2017.
Aecon Group Inc. releases its third-quarter results on Thursday. The construction company received approval in August to rejoin the Bridging North America consortium selected as the preferred proponent to build and operate the Gordie Howe International Bridge, after pulling out to undergo a federal review regarding an unsuccessful takeover by a Chinese state-owned company.
Husky will release its third-quarter results on Thursday. MEG Energy Corp.'s board said Wednesday that it is unanimously recommending that shareholders reject Husky's hostile takeover, that MEG says “significantly undervalues” its shares and is not in the best interests of the company.