{"id":187524,"date":"2020-09-02T23:58:01","date_gmt":"2020-09-02T23:58:01","guid":{"rendered":"https:\/\/stockchase.com\/discover\/?p=187524"},"modified":"2020-09-02T23:58:01","modified_gmt":"2020-09-02T23:58:01","slug":"cogeco-takeover-lifts-tsx","status":"publish","type":"post","link":"https:\/\/stockchase.com\/discover\/cogeco-takeover-lifts-tsx\/","title":{"rendered":"Cogeco takeover lifts TSX"},"content":{"rendered":"

The big news Wednesday was Altice USA offering to buy Cogeco Communications for $10.3 billion cash (US$7.8 billion), but would sell Cogeco’s Canadian assets to Rogers. However, the family that controls Cogeco<\/a> is rejecting this hostile bid. Cogeco<\/a> soared 16.84% on the news while Altice rose 3.54% and Rogers<\/a> gained 4.69%.<\/p>\n

Meanwhile, the latest data shows that Canada’s labour<\/a> productivity grew at a record 9.8% in Q2. The news of both lifted the TSX by 0.32%. Alimentation Couche-Tard<\/a> jumped 7.48% after reporting<\/a> upbeat results. In contrast, Ballard Power Systems<\/a> was the biggest loser, shedding 6.1%. Though stelcos and tech propelled the Toronto index, energy weighed it down. The price of both WTI and WCS shed 2.5%.<\/p>\n

On Wall Street, the rally continued as the S&P and Nasdaq made new record closes. In fact, the Nasdaq climbed 0.98% and broke 12,000 for the first time as names like Facebook<\/a> rose 2.43% (closing above $300 again) and Western Digital<\/a> increased 4.07%. However, juggernauts Tesla<\/a> and Apple closed -5.83% and -2.67% as investors gave back some recent mammoth gains. The Dow didn’t fare too badly, up 1.59% to close less than 2% from its all-time high.<\/p>\n

📱 COGECO Inc<\/a> +16.84%
\n📺 Altice +3.54%
\n📱 Rogers Communications (B)<\/a> +4.69%
\n🏪 Alimentation Couche-Tard (A)<\/a> +7.48%
\n🔋 Ballard Power Systems<\/a> -6.1%
\n🕵️‍♂️ Facebook<\/a> +2.43%
\n💾 Western Digital<\/a> +4.07%
\n🚗 Tesla Motors Inc<\/a> -5.83%
\n🍎 Apple<\/a> -2.67%<\/p>\n","protected":false},"excerpt":{"rendered":"

The big news Wednesday was Altice USA offering to buy Cogeco Communications for $10.3 billion cash (US$7.8 billion), but would sell Cogeco’s Canadian assets to Rogers. However, the family that controls Cogeco is rejecting this hostile bid. Cogeco soared 16.84% […]<\/p>\n","protected":false},"author":12,"featured_media":174836,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"cwp_meta_box_check":"No","cwp_rev_product_name":"","cwp_rev_product_image":"","wppr_links":[],"cwp_rev_price":"","wppr_options":[],"wppr_pros":[],"wppr_cons":[],"footnotes":""},"categories":[178],"tags":[],"class_list":["post-187524","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily"],"wppr_data":{"cwp_meta_box_check":"No"},"_links":{"self":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/187524","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/comments?post=187524"}],"version-history":[{"count":0,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/187524\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/media\/174836"}],"wp:attachment":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/media?parent=187524"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/categories?post=187524"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/tags?post=187524"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}