Bearish James Hardie Bet Traded Before Deal News Sank Stock
A block of 3,000 James Hardie A$43 puts expiring in May traded late Friday for A$14 million in notional value, data compiled by Bloomberg show. The position was new, with an exercise price 8.1% below that day's closing stock level. On Monday, James Hardie's shares slumped as much as 14% to as low as A$40.04 after the deal's announcement.
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Hamilton Spectator
13 minutes ago
- Hamilton Spectator
Cogeco launches Canadian wireless service, plans to be in 12 markets in coming weeks
Cogeco Inc. has launched its long-awaited wireless service in Canada, saying it plans to compete with other carriers in the market by targeting 'low-to-mid data users.' The Montreal-based telecommunications company said it has already signed up an initial cohort of customers on the new mobile service following a pre-registration period for its existing Canadian wireline subscribers. President and CEO Frédéric Perron said Wednesday that Cogeco plans to cover 12 Canadian markets in parts of Ontario and Quebec over the coming weeks, ahead of a full commercial launch of the service this fall. The company has said mobile coverage would be available across its broadband footprint. 'We're ready to go,' he told analysts on a conference call discussing the company's third-quarter earnings results. But Perron declined to share pricing details for its wireless service, saying the company wants to announce those offers to its customers first. He noted that mobile service will remain exclusive to those also subscribed to its wireline services. By offering cellphone and internet plan bundles, Cogeco has previously described its strategy as being geared toward increasing customer retention. Perron said Cogeco will also provide a 'time-limited launch bonus' for the first wave of customers signing up for mobile service. When asked by an analyst how 'aggressive' Cogeco plans to be in terms of pricing, he reiterated that those discounts wouldn't remain in place over the long term. 'It's not a strategy to go national or anything like that,' he said. 'We're a rational player. Of course, when you launch a new service, there can always be a time-limited launch offer, but that's just what it is — a time-limited launch offer.' Last year, Cogeco began offering wireless service under its Breezeline Mobile brand to customers in 13 U.S. states where it already offered broadband internet services. In Canada, Cogeco's mobile coverage is being delivered under the mobile virtual network operator framework, which allow telecoms to offer cellphone service through rival carriers' networks. The MVNO framework was put in place by the CRTC. The rules set by the regulator are meant to increase cellphone competition by giving regional carriers a presence in regions they did not previously serve, with requirements to build their own networks in those areas within seven years. 'It will take some time before wireless becomes material in a positive way to our bottom line,' said Perron. The wireless launch announcement came as the company reported a profit attributable to owners of the corporation of $20.5 million in its quarter ended May 31, up from $19 million in the same quarter last year. Cogeco said its profit amounted to $2.13 per diluted share for the quarter, up from $1.97 per diluted share in the same quarter last year. But analysts took a negative view of the company's results, in which Cogeco also revised its 2025 guidance. Cogeco said it was lowering its revenue projections for the current fiscal year to a 'low single-digit decline,' compared with its previous projection from last October of 'stable' revenue for the year. It said it expects 'additional pressure' on its revenue, particularly in the U.S., driven by increased competition. Meanwhile, Cogeco said it was undertaking 'several cost reduction initiatives and operating efficiencies' across the organization to minimize the effect of lower than expected revenue. For the quarter, Cogeco's revenue totalled $758.5 million, down from $777.2 million in the same period last year. On an adjusted basis, Cogeco says it earned $2.40 per diluted share in its latest quarter, down from an adjusted profit of $3.02 per diluted share a year ago. Scotiabank analyst Maher Yaghi warned that Cogeco 'might need to take a more aggressive approach in the coming months to stem the subscriber bleeding' it has recently seen in U.S. markets. 'We think it is concerning that in the last 12 months, the company has lost almost five per cent of its internet subscriber base in the U.S. and close to 11 per cent of its video service accounts,' said Yaghi in a note. 'As we look at the U.S. market, large cable companies have started to provide price locks and even reduced prices while offering free wireless services in order to stabilize their subscriber base. Cogeco has still not made that U-turn move yet.' This report by The Canadian Press was first published July 16, 2025. Companies in this story: (TSX:CGO)
USA Today
42 minutes ago
- USA Today
Medical debt returns to credit reports
Good morning! It's Daniel de Visé with your Daily Money. Consumers were dealt a blow when a federal judge in Texas tossed out a Biden-era rule that would have banned the inclusion of medical debt on credit reports. In a move that arguably eliminates a vital consumer protection, U.S. District Judge Sean Jordan on July 11 granted a request from President Donald Trump's administration and industry groups to vacate the medical debt rule. Here's what it means for consumers. No more pizza at the office? If your company provides free office snacks or meals, that perk could be at risk due to President Trump's new tax law. A tax deduction offered to employers for takeout meals and company-provided cafeteria meals will expire at the end of this year, thanks to a provision in the so-called "Big Beautiful Bill", which became law earlier in July. Does that mean no more pizza on long work nights? 📰 More stories you shouldn't miss 📰 🍔 Today's Menu 🍔 An April Fool's joke made by a fast-food fan account wound up in a White House Press release on Monday. In a since-modified statement, the Trump administration touted recent changes made by major food and beverage companies in response to the administration's "Make America Healthy Again" initiative. Among the announcements: a bullet point claiming that California-based fast food chain In-N-Out "transitioned to 100% beef tallow." Alas, it was all a joke. About The Daily Money Each weekday, The Daily Money delivers the best consumer and financial news from USA TODAY, breaking down complex events, providing the TLDR version, and explaining how everything from Fed rate changes to bankruptcies impacts you. Daniel de Visé covers personal finance for USA Today.
UPI
an hour ago
- UPI
LG Group unveils next-generation hybrid AI model
LG Group has unveiled its own hybrid artificial intelligence model. Pictured is the company headquarters in Seoul. Photo courtesy of LG Group SEOUL, July 16 (UPI) -- LG Group, one of South Korea's major conglomerates, has unveiled a next-generation hybrid artificial intelligence model, EXAONE 4.0, in aiming to join the global AI race along with powerhouses in the United States and China. The Seoul-based group's unit, LG AI Research, said Tuesday that the new model integrates natural language processing capabilities with advanced reasoning skills, built on its large language model EXAONE Deep. "It inherits the step-by-step, thought-based problem-solving approach that EXAONE Deep implemented, and advances its reasoning capabilities to excel even in challenging fields such as math, science and coding," the firm said in a statement. "Starting with EXAONE 4.0, the free licensing previously granted for research and academic purposes has been extended to educational institutions," it added. As a result, primary and secondary schools, as well as universities, will be allowed to use EXAONE 4.0 for educational purposes without prior approval. The model is available through Hugging Face, a global AI open-source platform, according to LG. EXAONE 4.0 comes in two versions: one for experts and the other for the public. LG said that the expert model has passed national qualification exams in six areas, such as qualifying for physician and dentist licenses. The lighter on-device version is designed to run independently without having to connect to external servers. With the launch of EXAONE 4.0, LG could be poised to take on global AI leaders. "Only a few corporations have come up with competitive hybrid AI models, including Anthropic of the U.S. and Alibaba of China," Sogang University Professor Yoon Seok-bin told UPI in a phone interview. "LG was somewhat late in debuting its own hybrid AI model compared to its offshore rivals. But there is a long way to go in developing and refining AI technology. LG may yet be able to compete on the global stage," he saidOh, what is .
