HEADLINES
Burger King Sizzles as Popeyes Slumps
Burger King appears to be recouping lost ground in the burger wars, while Popeyes is falling further behind in the battle for chicken lovers.
Restaurant Brands International on Wednesday reported higher sales for its Burger King business, including 5.8% sales-store sales growth in the U.S., a sign that its "Reclaim the Flame" plan to boost its sales and improve profits for its franchisees is gaining traction.
Burger King's momentum comes as the burger wars heated up in recent months. A video of McDonald's chief executive sampling the chain's new Big Arch burger went viral and sparked a wave of online mockery. Burger King jumped into the skirmish with its own jabs, amplifying the rivalry across social media.
Burger King Beef Inflation Drags On, Relief Now Seen Closer to 2027 Burger King Stands Strong in 1Q Despite Attention on Negatives
TransAlta Stands by Guidance After Decline in Quarterly Earnings
TransAlta affirmed annual guidance despite a fall in earnings in the first quarter as the utility faced softer Alberta power prices, reduced market volatility and overall lower production.
The company, one of Canada's largest publicly traded power generators, recorded net earnings of C$13 million, or C$0.04 a share, against C$46 million, or C$0.15, a year earlier.
Earnings before interest, taxes, depreciation and amortization slipped to C$204 million from last year's C$270 million, adjusted to exclude certain items the company doesn't believe reflect continuing business performance. That missed the C$217 million mean forecast of analysts polled by FactSet.
Chip Wilson Steps Up Proxy Fight With New Push to Reshape Lululemon's Board
Lululemon Athletica founder Chip Wilson has escalated his proxy fight with the athletic-apparel retailer, laying out what he says are the steps needed to restore the brand's creative edge and reconnect with its core customer.
Wilson, in his latest salvo against board of the company he founded, outlined a series of pillars he said the board has neglected, including refocusing on Lululemon's core consumer, improving merchandising and in-store execution, as well as increasing marketing and product-development spending.
Wilson, who is also Lululemon's biggest active investor, says his slate of three directors, Marc Maurer, Laura Gentile and Eric Hirshberg, would help redress what he calls the company's loss of focus after years of deprioritizing creativity for efficiency as the company scaled in size. The three picks are former executives from the shoe company On Holding, ESPN and video-game producer Activision Publishing.
Loblaw Profit, Sales Climb on Strong Demand for Discount Stores
Loblaw reported higher first-quarter profit as budget-conscious Canadians continued choosing its discount grocery banners, lifting traffic and sales across the retailer's food business.
The Canadian grocer posted on Wednesday a higher net income of C$594 million, or C$0.50 a share, up from C$503 million, or C$0.42 a share, in the comparable quarter a year ago.
Adjusted earnings were C$0.52 a share, in line with consensus expectations, according to FactSet.
Revenue rose to C$14.48 billion from C$13.9 billion, but missed analyst forecasts of a greater rise to C$14.57 billion.
Loblaw Gets Go Ahead for Renewed Share Buyback Program
Sprott Shares Rally After Quarterly Results, Rise in Assets Under Management
Sprott's shares jumped after the specialist asset manager logged a rise in assets under management for the latest quarter amid volatility in gold and silver prices.
Shares settled 19.8% higher at C$207.65.
Sprott, which is focused on precious metals and critical-materials investments, recorded first-quarter net income of $29.2 million, up from $28.7 million the quarter before and $12 million in the same period last year.
Adjusted earnings before interest, taxes, depreciation and amortization climbed to $57.9 million from $21.9 million a year earlier.
Cenovus Energy Lifts Dividend After Record Quarterly Production
Cenovus Energy is bumping up its dividend 10% following the Canadian energy company's strongest-ever quarterly upstream production.
The Calgary, Alberta company logged a jump in first-quarter net earnings to C$1.57 billion, or C$0.83 a share, compared with C$859 million, or C$0.47, a year earlier.
Energy companies saw a boost during the quarter as oil prices spiked with the start of the U.S.-Iran conflict and markets began pricing in an increased risk of supply disruptions.
Vermilion Energy Swings to Loss but Quarterly Production Rises
Vermilion Energy swung to a loss in the latest quarter despite a rise in the natural gas producer's output.
The Canadian company recorded a net loss of C$145.5 million, or C$0.95 a share, against a year-earlier profit of C$15 million, or C$0.10 per share.
The decline mainly was due to unfavourable changes in Vermilion's mark-to-market unrealized derivative position that it said were driven by European gas and crude-oil contracts. That was partially offset by a deferred tax recovery on mark-to-market losses, coupled with an increased tax-asset valuation in Canada and Ireland on forward pricing, plus higher fund flows from continuing operations thanks to increased production.
Canfor Quarterly Loss Widens; Market Conditions Expected to Remain Weak
Canadian forest-products company Canfor is bracing for market conditions to remain tough as demand remains subdued by ongoing trade and geopolitical pressures.
The Vancouver, British Colombia, company's loss widened in the first three months of the year against a year earlier as sales fell, though it saw an improvement from the final quarter of last year and pointed to some resilience in North American softwood-pulp markets and lumber-supply tightness that contributed to some improvement in North American benchmark lumber pricing.
Chief Executive Susan Yurkovich said the first quarter continued to reflect challenging market conditions across operations globally.
TALKING POINT
Privately-Held Triton Uranium Looks to Join Push for New Canadian Uranium Mines
By Robb M. Stewart
OTTAWA--The race is on to build the first new uranium mine in Canada in more than a decade, enticed by a fresh appetite for nuclear energy to fuel demand for data centers and artificial intelligence.
Established players Denison Mines and NexGen Energy are leading the charge, having this year secured licenses from the Canadian Nuclear Safety Commission that kick start the construction process.
Then there are smaller upstarts, with companies such as closely held Triton Uranium aiming to revive once-lucrative mines.
Triton recently began development work on its flagship project, and plans exploration drilling by mid-year. Its engineers are working to firm up an estimate of the source the company can tap quickly, based on old surveys and studies. The company is aiming for a Nasdaq listing in the third quarter, and wants to define the initial resource estimate for a mining operation, which will in turn be used to calculate the company's valuation.
President Scott Evans said early stage talks have been held with prospective special-acquisition companies, shell operations that would offer Triton the listing it seeks and the funds needed for its plans. After that, the company would consider relocating from Saskatoon, Saskatchewan, to the U.S. and has ambitions to get into uranium refining and reactor technology, he said.
Efforts to build new mines focus on the Athabasca Basin in the far north of western Canada's Saskatchewan province, where uranium-giant Cameco has operated for years. Cameco runs the world's two largest uranium operations: McArthur River/Key Lake, in service since 1983, and Cigar Lake, which began commercial operations in 2015.
Triton is hoping to build its open-pit mine and explore further some of the thousands of acres it controls around Uranium City on the north shore of Lake Athabasca, a town that was booming when uranium demand surged during the Cold War, but was largely abandoned when nuclear power fell from favor after the Three Mile Island disaster in Pennsylvania in 1979. What remains are power lines, roads and an airstrip that would make building a mine faster and cheaper, Evans said.
"We think we can prove up an economic resource in the next couple of years," Evans said in an interview. "From there, we would continue to try and grow that resource. We think that we could have this [mine] online maybe in six to seven years if everything cooperates."
Canada is the world's second-biggest source of uranium, producing some 14,309 metric tons in 2024, most of which was exported, based on data from the Canadian government and the World Nuclear Association. Three quarters of the world's uranium output comes from mines in Kazakhstan, Canada and Namibia. However, industry experts estimate that current production won't be enough to meet rising demand based on plans in North America and around the world to build new reactors.
"Against a backdrop of continued geopolitical tension and volatility across the global fossil fuel supply chains, nuclear power generation is increasingly being recognized as critical infrastructure," Cameco Chief Executive Tim Gitzel told investors Tuesday.
Cameco and Brookfield Asset Management are central to the Trump administration's $80 billion bet on the U.S. being able to revive a stalled nuclear power industry. The government plans to develop reactors based on the technology of Westinghouse Electric, a venture jointly owned by the two companies.
Prime Minister Mark Carney's government is also lining up behind the industry. Ottawa late last month committed to a new strategy for nuclear energy that will promote new builds and expand uranium output.
Vancouver-based NexGen submitted plans for its uranium project in 2019 and is now planning construction on a mine that would be in production in 2030. Toronto-based Denison expects to see the first output from its Wheeler River mining and milling project in mid-2028.
Triton has raised more than $11 million to date, which Evans said came mainly from friends and family in western Canada.
"If we can turn this company into something serious with access to the money in the SPAC, there is no company in the world that mines it, builds the reactor and sells the power," Evans said." There's a lot of need out there for large power supply, whether that be for AI data centers or aluminum smelters and stuff like that, that the U.S. is trying to bring on a resurgence."
Write to Robb M. Stewart at [robb.stewart@wsj.com]
Expected Major Events for Thursday
06:00/JPN: Mar Revised Machine Tool Orders
06:00/GER: Mar Manufacturing orders
06:00/GER: Mar Manufacturing turnover
06:45/FRA: Mar Foreign trade
06:45/FRA: Mar Balance of payments
08:30/UK: Apr S&P Global UK Construction PMI
08:30/UK: Apr Narrow money (Notes & Coin) and reserve balances
11:30/US: Apr Challenger Job-Cut Report
12:30/US: 1Q Preliminary Productivity and Costs
12:30/US: 05/02 Unemployment Insurance Weekly Claims Report - Initial Claims
12:30/US: U.S. Weekly Export Sales
14:00/US: Feb Construction Spending - Construction Put in Place
14:00/US: Mar Construction Spending - Construction Put in Place
14:30/US: 05/01 EIA Weekly Natural Gas Storage Report
16:00/US: Apr Monthly U.S. Retail Chain Store Sales Index
19:00/US: Mar Consumer Credit
20:30/US: Foreign Central Bank Holdings
20:30/US: Federal Discount Window Borrowings
23:01/UK: Apr BRC-Sensormatic IQ Footfall Monitor
23:30/JPN: Mar Provisional Labour Survey - Earnings, Employment & Hours Worked
All times in GMT. Powered by Onclusive and Dow Jones.
Expected Earnings for Thursday
AAON Inc $(AAON)$ is expected to report $0.28 for 1Q.
Arrow Electronics Inc $(ARW)$ is expected to report $2.43 for 1Q.
Avient Corp (AVNT) is expected to report $0.65 for 1Q.
BGC Group Inc $(BGC)$ is expected to report $0.05 for 1Q.
Becton Dickinson & Co $(BDX)$ is expected to report $1.84 for 2Q.
CRA International Inc $(CRAI)$ is expected to report $1.98 for 1Q.
Celsius Holdings Inc $(CELH)$ is expected to report $0.27 for 1Q.
Chart Industries Inc $(GTLS)$ is expected to report $2.05 for 1Q.
Chatham Lodging Trust $(CLDT)$ is expected to report $0.05 for 1Q.
Clear Channel Outdoor Holdings Inc (CCO) is expected to report for 1Q.
Datadog Inc (DDOG) is expected to report $0.05 for 1Q.
ESAB Corp $(ESAB)$ is expected to report $1.26 for 1Q.
Esperion Therapeutics Inc $(ESPR)$ is expected to report $-0.02 for 1Q.
GATX Corp $(GATX)$ is expected to report $2.44 for 1Q.
Gibraltar Industries Inc (ROCK) is expected to report $-0.36 for 1Q.
Harmony Biosciences Holdings Inc (HRMY) is expected to report $0.69 for 1Q.
Howmet Aerospace Inc (HWM) is expected to report $1.11 for 1Q.
Hudson Pacific Properties Inc (HPP) is expected to report for 1Q.
Insight Enterprises Inc (NSIT) is expected to report $1.92 for 1Q.
Kontoor Brands Inc (KTB) is expected to report $1.06 for 1Q.
Lantheus Holdings Inc $(LNTH)$ is expected to report $1.03 for 1Q.
Leggett & Platt Inc $(LEG)$ is expected to report $0.24 for 1Q.
Madison Square Garden Entertainment Corp (MSGE) is expected to report $0.17 for 3Q.
Marine Products Corp $(MPX)$ is expected to report $0.17 for 1Q.
McDonald's Corp $(MCD)$ is expected to report $2.74 for 1Q.
Myers Industries Inc (MYE) is expected to report $0.28 for 1Q.
Polaris Renewable Energy Inc (PIF.T) is expected to report for 1Q.
Praxis Precision Medicines Inc (PRAX) is expected to report $-3.33 for 1Q.
RPC Inc (RES) is expected to report $-0.07 for 1Q.
RXO Inc $(RXO)$ is expected to report $-0.17 for 1Q.
Shake Shack Inc (SHAK) is expected to report $0.14 for 1Q.
Shift4 Payments Inc (FOUR) is expected to report $0.02 for 1Q.
Solitario Resources Corp (SLR.T,XPL) is expected to report for 1Q.
Targa Resources Corp (TRGP) is expected to report $2.49 for 1Q.
Teleflex Inc $(TFX)$ is expected to report $0.08 for 1Q.
Vontier Corp $(VNT)$ is expected to report $0.77 for 1Q.
WW Grainger Inc $(GWW)$ is expected to report $10.18 for 1Q.
Walker & Dunlop Inc $(WD)$ is expected to report $0.06 for 1Q.
Xometry Inc $(XMTR)$ is expected to report $-0.18 for 1Q.
Zoetis Inc $(ZTS)$ is expected to report $1.56 for 1Q.
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(END) Dow Jones Newswires
May 06, 2026 16:30 ET (20:30 GMT)
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