The (TSX) witnessed significant trading activity on Tuesday, involving major corporations such as Enbridge (NYSE:) Inc., Tourmaline Oil Corp (TSX:)., Toronto-Dominion Bank (TSX:), TC Energy (NYSE:) Corp., Suncor (TSX:) Energy (NYSE:) Inc., and Canopy Growth (TSX:) (NASDAQ:) Corp.
In a strategic move to enhance shareholder value, BlackBerry (NYSE:) Ltd. is gearing up for an Initial Public Offering (IPO) in June for its Internet of Things business. This will lead to the creation of two distinct units within the company: cybersecurity and internet of things. The decision is part of BlackBerry’s broader strategic alternatives.
Meanwhile, Supremex Inc. has announced the closure of a facility in Saint-Hyacinthe, Quebec, following its acquisition of Impression Paragraph Inc. This will result in a one-time pre-tax restructuring charge of $2.8 million in Q4. The decision affects 28 jobs at the facility, with potential employee relocation within the company as operations are moved to its Montreal facilities.
Toronto-Dominion Bank’s stake in Charles Schwab (NYSE:) Corp. is expected to yield a significant return on investment. After accounting for acquisition-related charges, restructuring charges, and amortization expenses, the bank’s investment is projected to contribute $156 million as equity income in its Q4 financials.
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