Here are five things you need to know this morning.
Republican presidential candidate former U.S. President Donald Trump is helped off the stage at a campaign event in Butler, Pa., on Saturday, July 13, 2024. Investors increase bets on Trump after weekend attack:
It’s hard to tell what the long term impact of the dramatic events this weekend in Pennsylvania will be, but one clear short term impact is that. The so-called “Trump trade” has been gaining steam ever since Joe Biden’s performance in the presidential debate last month, but following the assassination attempt this weekend, investors increased their bets that Trump is likely to prevail in the November vote. U.S.
in a cash-and-stock takeover worth more than $3.85 billion. Under the terms of the deal, which still requires shareholder and regulatory approval, Cleveland will pay $60 and 0.454 of its own shares for every share of Stelco. That values Stelco at about $70 per share, an 87 per cent premium to where it was on Friday. Stelco’s main assets are two steel-making facilities in Ontario, including its iconic Hamilton steelworks, and a newer facility on Lake Erie.
, and the numbers showed a worsening financial picture for the company. The company swung to a 10-cent-per-share loss, worse than the expected EPS of 7 cents. Revenue fell by 16 per cent from last year to $331 million, worse than expected, and the company generated $18.4 million of free cash flow. That’s down 29 per cent from last year.
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