Manulife shares climb 7 per cent as CEO scorns hedge fund’s claims as ‘commercially absurd’

Manulife shares climb 7 per cent as CEO scorns hedge fund’s claims as ‘commercially absurd’

Manulife Financial Corp. Chief Executive Officer Roy Gori said a hedge fund’s claim that the firm should be compelled to take unlimited deposits is “commercially absurd.” Gori used a portion of Manulife’s third-quarter earnings conference call Thursday to address a lawsuit by Mosten Investment LP. The Saskatchewan-based hedge fund sued Manulife two years ago, claiming…

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Apple shares fall on lacklustre expectations for holiday sales

Apple shares fall on lacklustre expectations for holiday sales

Apple Inc. gave an underwhelming forecast for the key holiday period, suggesting weaker-than-expected demand for the company’s pricier new iPhones. The Cupertino, Calif.-based technology giant expects fiscal first-quarter 2019 revenue to be between US$89 billion and US$93 billion. Analysts were looking for US$92.7 billion, according to data compiled by Bloomberg. Apple shares fell more than…

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Dollarama shares drop after short-seller says ’broken growth story’ could tumble 40%

Dollarama shares drop after short-seller says ’broken growth story’ could tumble 40%

BOSTON — Spruce Point Capital Management, which focuses on in-depth research of companies’ vulnerabilities, sees room for Dollarama Inc’s stock price to tumble roughly 40 per cent after the Canadian retailer raised prices and fewer customers are shopping at its stores. “Spruce Point believes Dollarama is a ‘strong sell’ with an approximately 40 per cent…

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