Top News Today/Canada: RB Global Names New CFO

HEADLINES

RB Global Appoints Steve Steinberg as CFO, Sees 2026 Performance at High End of Guidance

RB Global has appointed Steve Steinberg as its new chief financial officer, and said that it expects its full-year results to be at the high end of guidance.

Steinberg brings over 30 years of experience across finance and accounting to the global equipment marketplace, 10 of which have been with RB Global. Most recently, he served as senior vice president and head of strategic planning and decision support. He succeeds Eric Guerin in the role.

RB Global also said that it expects its full year financial results to be at the high end of its targets, with adjusted earnings before interest, taxes, depreciation and amortization of between $1.495 billion and $1.545 billion and gross transaction value growth of between 9% and 11%.

According to FactSet, analysts expect $1.5 billion in adjusted Ebitda.

Gildan Activewear Eliminates Exclusive Pricing Terms to Resolve FTC Investigation

Gildan Activewear has agreed to eliminate exclusive pricing terms from a distribution contract, resolving a U.S. antitrust inquiry into potential price discrimination.

The Federal Trade Commission opened an investigation into the apparel company Gildan and major wholesale T-shirt distributor S&S Holdings after becoming aware that their contract prohibited Gildan from offering certain pricing and discounts to S&S's competitors.

Under FTC rules, sellers are prohibited from engaging in price discrimination.

The FTC closed its investigation after securing the contract changes.

Trekor Metals Copper Production Rises, Increases Fiscal Year Targets

Trekor Metals' output rose in the third quarter, driven by higher ore grades and improved mill performance.

The company said it has produced 41 million pounds of copper, benefiting from a 12% increase from its Gibraltar mine and higher output from the Florence Copper production facility in Arizona.

From Gibraltar, its mine in British Columbia, the company produced 34 million pounds of copper and 380,000 pounds of molybdenum, benefiting from strong grades and increased mill throughput and improved SX/EW plant performance.

From Gibraltar, the company now expects to produce 115 million to 120 million pounds of copper, up from previous expectations of 110 million to 115 million pounds. However, it noted that its higher grades have been mined, and now expects lower grades in the fourth quarter.

Endeavour Silver to Rejig Guidance After Disruptions, Despite Rise in Output

Endeavour Silver plans to revise its production targets for the year after disruptions held back growth in the latest quarter.

The Canadian silver producer with mines in Mexico and Peru said annual production is expected to be at or slightly below the low end of its latest guidance following operational interruptions at the Terronera and Guanacevi operations.

Endeavour early this year forecast silver-equivalent production of between 14.6 million and 15.6 million ounces in 2026, including 8.3 million to 8.9 million ounces of silver and 46,000 to 48,000 ounces of gold from its Terronera, Guanacevi and Kolpa mines.

Output in the third quarter totaled 3.61 million silver-equivalent ounces, up 19% on a year earlier. For the first nine months of the year, production was 40% higher at 10.39 million ounces.

Marimaca Copper Names Peter Garner-Winship as Finance Chief

Marimaca Copper has promoted Peter Garner-Winship to chief financial officer.

Garner-Winship succeeds Jose Antonio, who will continue as managing director for Chile, where the Canadian company is developing copper assets including its flagship Marimaca Oxide Deposit Project.

Garner-Winship joined Marimaca in March as vice president of finance, after spending 17 years with Anglo American where he held senior roles in corporate finance, strategic planning and capital allocation. He also was financial controller for Anglo's majority-owned $5.5 billion Quellaveco copper project in Peru.

Antonio has been part of Marimaca's management team since 2022, and in 2023 he stepped into the CFO role on an interim basis when Petra Decher stepped down after about two years in the position.

Tilray Swings to Loss, but Revenue Climbs on Beverage Growth

Tilray Brands swung to a loss in its first quarter due to noncash charges, though acquisition-driven beverage sales drove revenue higher.

For the three months ended Aug. 31, the consumer packaged goods company posted a loss of $40 million, or 32 cents a share, compared with net income of $1.5 million, or breakeven on a per-share basis, in the comparable quarter a year ago.

Tilray said the decline was largely driven by noncash charges.

On an adjusted basis, which strips out exceptional items and one-off costs, loss came to 2 cents a share. According to FactSet, analysts were expecting a far steeper loss of 18 cents a share.

Firan Technology Group Shares Rally as Defense Shipments Drive Third-Quarter Beats

Firan Technology Group shares surged after the company reported higher earnings and revenue on the back of ramping up defense deliveries.

Shares settled 25.9% higher at C$32.00.

The Canadian aerospace and defense electronics product supplier late Wednesday reported a 34% increase in revenue to C$64.1 million for the third quarter, topping analyst forecasts of a more modest rise to C$52.3 million.

The company's circuits segment saw revenue grow to C$45.1 million from C$32.1 million. Its aerospace unit generated C$19.8 million, up from C$16.8 million a year earlier.

Profound Medical Shares Rise on Revenue Forecast Above Wall Street Estimates

Shares of Profound Medical gained after the company forecast third-quarter revenue above Wall Street's estimates, citing commercial strength.

The stock rose 20.6% to C$9.84.

The medical device company said it expects third-quarter revenue between $9.8 million and $10 million, or up about 85% to 89% year over year. Analysts polled by FactSet expect $7.5 million.

The forecast is based on strong commercial momentum for Profound's technology across its existing base of customers as well as new clients, Chief Executive Arun Menawat said.

TALKING POINT

Invesment Regulator Warns of Added Risks as Stock Trading Hours Extend

By Meera Raman of the Globe and Mail

As Canadian stock trading opens up beyond the traditional 61/2-hour day, the country's investment regulator is warning investors that buying and selling stocks outside regular market hours can come with additional risks.

The Canadian Investment Regulatory Organization, or CIRO, issued guidance Thursday for investment dealers on extended-hours trading, and a notice for investors that they may encounter lower trading volumes, wider gaps between buying and selling prices, and greater price volatility outside regular hours. CIRO is a self-regulatory organization that oversees all investment dealers and mutual fund dealers.

The guidance comes shortly after CIX Trading Inc. launched a new Canadian trading platform that allows investors to buy and sell domestic stocks from 8 a.m. to 5 p.m. ET. CIX plans to expand those hours to 7 a.m. to 8 p.m. ET later this year and eventually offer trading 23 hours a day from Monday to Friday. Stocks currently trade on Canadian exchanges between 9:30 a.m. and 4 p.m. ET each weekday.

Kevin McCoy, senior vice-president of market regulation at CIRO, said he expects uptake in the early days of extended-hours trading to be "quite muted," but that it could become more mainstream.

During regular trading hours, all Canadian equity marketplaces are open at the same time. Outside those hours, fewer marketplaces and investors may be active, meaning there can be fewer buyers and sellers for a particular security, Mr. McCoy said.

That can reduce liquidity and widen the bid-ask spread, the difference between the highest price a buyer is willing to pay and the lowest price a seller is willing to accept. Mr. McCoy said that investors may receive a less favourable price than they would during regular trading hours.

Investors may also see bigger price swings during extended hours, especially during company earnings, economic reports or breaking-news events when fewer investors are trading.

Investors using market orders during extended-trading hours, which generally execute at the best price available at the time the order reaches the market, may also encounter issues. Mr. McCoy said they could end up with a price that they didn't want because of the wider bid-ask spread.

Mr. McCoy said that instead of a market order, investors trading in extended hours could use limit orders, which allow them to specify the maximum or minimum price at which they are willing to buy or sell. While the trade may not be completed if that price is unavailable, the order gives investors more control over the price at which their trade is executed, he said.

Extended-hours trading may not make sense for every investor, Mr. McCoy said. Longer-term investors, for example, may have less reason to react immediately to developments outside regular trading hours, while other investors may value the flexibility to trade following an earnings announcement or other market-moving events.

The introduction of longer trading hours does not come with a separate regulatory regime, Mr. McCoy said. Investment dealers will be subject to the same CIRO rules, marketplace rules and securities laws during extended-trading sessions as they do during regular trading hours.

The push toward longer trading hours is not limited to Canada. The London Stock Exchange Group announced in July that it plans to launch LSE 24, which would eventually allow near-continuous trading of London-listed securities from Monday to Friday.

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October 08, 2026 16:41 ET (20:41 GMT)