Geopolitical Jitters, Valeant Re-Brand -- Canadian Commentary

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(RTTNews.com) - Canadian stocks may struggle to extend gains from the previous session, as crude oil prices failed to hold $70 a barrel.

Energy stocks may suffer some profit-taking after their recent strong performance.

In big news from the oil patch, Royal Dutch Shell plc will sell its entire stake in Canadian Natural Resources Limited (CNQ, CNQ.TO). It will result in total pre-tax proceeds of approximately $3.3 billion.

Valeant Pharmaceuticals International Inc. (VRX, VRX.TO) reported that its net loss for the first-quarter ended March 31, 2018 was $2.693 billion, as compared to net income of $628 million for the same period in 2017.

In an effort to re-brand, Valeant will change its name to Bausch Health Companies Inc., effective in July 2018, and will trade under the symbol BHC.

Aimia (AIM.TO) named Jeremy Rabe as its new president and CEO on Tuesday, effective immediately.

George Weston (WN.TO) raised its dividend, and reported a $180-million Q1 profit.

Quebecor (QBR.B.TO) is buying Caisse's stake in Quebecor Media for $1.69 billion.

Markets are nervous today, President Donald Trump is considering whether to pull out of an Obama-era deal with Iran that removed sanctions on Tehran.

Trump yesterday hinted he was leaning towards backing out of the deal.

"The United States does not need John Kerry's possibly illegal Shadow Diplomacy on the very badly negotiated Iran Deal. He was the one that created this MESS in the first place!" Trump tweeted.

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This article appears in: Stocks , World Markets , Politics , Oil
Referenced Symbols: CNQ ,

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