HEADLINES
Albertans Vote to Stay in Canada in Historic Referendum
Voters in Alberta chose to stay in Canada by a convincing margin in a historic referendum on Monday, according to projections from the Canadian Broadcasting Corp., staving off an economic and political crisis that Prime Minister Mark Carney argued the country could ill afford.
With 41% of polls reporting early Tuesday, the CBC put preliminary results at above 76% of voters backing remaining in Canada, while just under a quarter supported holding a second, binding referendum on separation.
The remain vote appeared to be leading in all regions of the province, with more than 80% in the big cities of Edmonton and Calgary voting to remain, plus over 60% in some more rural central areas of the province, the CBC projected.
Polls had shown that most Albertans opposed a second referendum, but federalists worried the option might appeal to those wanting to send a message of protest to the federal government.
Lionsgate Studios Stock Jumps on Report of Takeover Bid by Legendary Entertainment
Lionsgate Studios stock jumped on a report that Legendary Entertainment has submitted a takeover bid for Lionsgate.
Lionsgate stock jumped 14.4% to settle at $12.15.
Legendary, which is owned by Apollo Global Management and company management, and Lionsgate have been in talks since last year, Bloomberg reported, citing people familiar with the matter.
Bloomberg didn't report a price tag.
Nvidia Challenger Tenstorrent Raises $1.5 Billion
Artificial intelligence semi-conductor maker Tenstorrent Holdings Inc. has raised $1.5 billion in fresh capital as it steps up efforts to challenge industry behemoth Nvidia.
The financing, which values Tenstorrent at $6.2 billion, including the money raised, follows reports earlier this year that U.S. chip stalwarts Intel and Qualcomm had both tried to buy Tenstorrent for upward of $5 billion.
The Austin, Texas-based company was founded in Toronto 10 years ago but relocated to the United States in 2023 after its first investor, Jim Keller - one of Silicon Valley's top chip architects - became chief executive officer. The company's Toronto office is still one of its largest hubs, where 200 of its 1,000 employees work. Tenstorrent also has operations in Silicon Valley; Tokyo; Belgrade, Serbia; and Bangalore, India.
Home Prices Remain Steady
Canadian home prices inched up for a second time in three months in September, with the Teranet-National Bank Composite Index showing a 0.1% rise from August.
Prices overall have remained essentially stable since June after a period of decline beginning in December 2025, said National Bank's Daren King.
This stabilization in prices happened as activity in the resale housing market picked up since the spring, though home sales began to decline again in August and September as the recent upturn in Canada's job market has faded.
King expects housing affordability to deteriorate in the coming quarters given September and early October were marked by a significant rise in mortgage rates that is likely to continue.
Algoma Central Expects Rise in Earnings With Higher Freight Rates, Expanded Fleet
Algoma Central expects a rise in earnings for the latest quarter thanks to higher freight rates and the expansion of its domestic dry-bulk fleet.
The Canadian shipping company forecast a roughly 37% jump in net earnings for the third quarter on the back of 26% growth in revenue, with increased grain and construction volumes more than offsetting lower iron and steel volumes and an increase in dry-docking days.
The strong quarter reflects continued customer demand and strength in freight rates, in addition to the benefits of investments made across the fleets, Chief Executive Gregg Ruhl said.
Sherritt International Secures U.S. Fuel License for Cuban Operations
Sherritt International was granted a special license from the U.S. to deliver fuel to its operations in Cuba, a potential first step to restarting its suspended nickel and cobalt mining activities.
The Canadian miner said that the U.S. Office of Foreign Assets Control issued a specific fuel license which authorizes fuel and sulfur purchases, shipping, and banking services for Sherritt's Moa joint venture in the Caribbean country.
Sherritt said an initial fuel shipment is expected to ship in the fourth quarter.
Operations in Cuba were halted in May after the U.S. expanded its sanctions on the country. Sherritt still hasn't restarted operations there yet.
Shopify Chief Technology Officer Mikhail Parakhin Leaves
Shopify's chief technical officer Mikhail Parakhin is departing the e-commerce giant after two years.
Parakhin joined Shopify in 2024 to oversee the company's engineering and data organizations, and to "push Shopify to the cutting edge" in machine learning and artificial intelligence adoption, the Ottawa-based company said in a release when he first joined.
Since then, Shopify has embraced agentic AI to help its merchants sell products to customers via chatbot, a step which industry analysts have said has the potential to reshape the future of online shopping and advertising. Agentic AI refers to AI systems that can make decisions and use external tools with limited human supervision or instruction.
TALKING POINT
BlackBerry CEO Bets on Unified Business as Software Royalties Hit New Highs
By Adriano Marchese
Blackberry Chief Executive John Giamatteo is plowing ahead with running the company as a unified business, even as its software business grows to new levels that could make calls for a split up even louder.
The company on Tuesday said that its backlog for its embedded software business has now surpassed $1.2 billion, which reflect future royalties the company stands to earn as its products are installed in modern cars and other technology.
BlackBerry, the company that once defined mobile technology with its ubiquitous smartphones, has seen the rapid growth of QNX in recent years prompt calls for the company to consider spinning off the business to potentially unlock a greater value as a standalone software company. When he took the job in 2023, Giamatteo cancelled plans to carve out the QNX unit almost immediately, though the question has remained on some investors' minds.
"There are some investors that would say, 'Oh, if QNX was a pure-play integrated software company, that would unlock [more value].' There's some people that feel that," he said in an interview.
Giamatteo said, however, that the company continues to stand pat. He said that Blackberry's current structure gives it the scale to attract major institutional investors while keeping operations transparent across its software, security and intellectual property licensing units.
"I love the fact that we've got three businesses that are growing, generating profit, and generating cash, so we don't feel like we urgently need to do anything," he said.
That perspective could change with more information. "If something comes our way where we look at it and say the company might be worth a lot more, then that's something we've got a fiduciary responsibility to look at," he said.
In the spotlight has been BlackBerry's QNX platform, the company's operating-system software that powers the computers in modern cars and commercial vehicles, and has been increasingly expanding into non-automotive robotics and autonomous systems, such as medical tools and factory assembly.
The company on Tuesday said that its QNX segment backlog has grown by more than $250 million, or 26%, in the last two quarters as demand for its next-generation automotive operating system accelerates, driven by major automakers consolidating vehicle software onto high performance platforms.
The growth was anchored by a recent design win from Coretura, the Daimler Truck-Volvo Group joint venture, worth over $100 million in estimated future royalties for Alloy Kore, the foundational operating system co-developed with Vector Informatik to manage all complex vehicle functions under one platform.
Giamatteo said that two-thirds of the $1.2 billion backlog stems from legacy design wins, secured over the last five years and now rolling onto production lines. The remaining one-third are wins from the company's newer technology and Alloy Kore, which will take two-to-three years to be converted to revenue.
Write to Adriano Marchese at adriano.marchese@wsj.com
Expected Major Events for Wednesday
06:00/UK: Sep Public sector finances
06:00/UK: Sep Producer Price Index
06:00/UK: Sep CPI
08:30/UK: Aug UK House Price Index
11:00/US: 10/16 MBA Weekly Mortgage Applications Survey
14:30/US: 10/16 EIA Weekly Petroleum Status Report
23:01/UK: BRC Consumer Sentiment Monitor
All times in GMT. Powered by Onclusive and Dow Jones.
Expected Earnings for Wednesday AT&T Inc (T) is expected to report $0.61 for 3Q.
Abbott Laboratories $(ABT)$ is expected to report $0.95 for 3Q.
Alaska Air Group Inc $(ALK)$ is expected to report $0.51 for 3Q.
BankUnited Inc (BKU) is expected to report $1.04 for 3Q.
Banner Corp $(BANR)$ is expected to report $1.41 for 3Q.
CME Group Inc (CME) is expected to report $2.88 for 3Q.
City Holding Co $(CHCO)$ is expected to report $2.36 for 3Q.
Community Trust Bancorp Inc $(CTBI)$ is expected to report $1.65 for 3Q.
$Danaher Corp(DHR-W)$ $(DHR)$ is expected to report $1.32 for 3Q.
Eagle Financial Services Inc $(EFSI)$ is expected to report $0.88 for 3Q.
Elevance Health Inc (ELV) is expected to report $4.25 for 3Q.
Fidelity D&D Bancorp Inc $(FDBC)$ is expected to report for 3Q.
First Industrial Realty Trust Inc (FR) is expected to report $0.47 for 3Q.
Great Southern Bancorp Inc $(GSBC)$ is expected to report $1.39 for 3Q.
Healthcare Services Group Inc $(HCSG)$ is expected to report $0.25 for 3Q.
HomeTrust Bancshares Inc (HTB) is expected to report $0.90 for 3Q.
Integra LifeSciences Holdings Corp $(IART)$ is expected to report $0.15 for 3Q.
JW Mays Inc $(MAYS)$ is expected to report for 4Q.
Lithia Motors Inc (LAD) is expected to report $9.84 for 3Q.
M/I Homes Inc $(MHO)$ is expected to report $3.22 for 3Q.
Martin Midstream Partners LP $(MMLP)$ is expected to report $0.24 for 3Q.
Moody's Corp $(MCO)$ is expected to report $3.99 for 3Q.
NVR Inc (NVR) is expected to report $102.77 for 3Q.
NextEra Energy Inc $(NEE)$ is expected to report $1.23 for 3Q.
Northeast Community Bancorp Inc (NECB) is expected to report $0.83 for 3Q.
Northern Trust Corp $(NTRS)$ is expected to report $2.83 for 3Q.
Obsidian Therapeutics Inc (OBX) is expected to report for 2Q.
Old National Bancorp (ONB) is expected to report $0.66 for 3Q.
Parke Bancorp Inc $(PKBK)$ is expected to report for 3Q.
Philip Morris International Inc (PM) is expected to report $2.22 for 3Q.
Pinnacle Financial Partners Inc $(PNFP)$ is expected to report for 3Q.
Plumas Bancorp (PLBC) is expected to report $1.46 for 3Q.
SL Green Realty Corp (SLG) is expected to report $-1.14 for 3Q.
Stifel Financial Corp (SF) is expected to report $1.43 for 3Q.
Teledyne Technologies Inc (TDY) is expected to report $5.24 for 3Q.
Thermo Fisher Scientific Inc $(TMO)$ is expected to report $5.57 for 3Q.
UniFirst Corp $(UNF)$ is expected to report $2.01 for 4Q.
Virginia National Bankshares Corp $(VABK)$ is expected to report for 3Q.
Wabtec $(WAB)$ is expected to report $2.52 for 3Q.
Winnebago Industries Inc $(WGO)$ is expected to report $0.35 for 4Q.
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