HEADLINES

Rogers Communications Offloads Wednesday NHL Games to Amazon Prime Video in 12-Year Deal

Rogers Communications signed a 12-year sublicensing agreement with Amazon.com's Prime Video for National Hockey League broadcast rights in Canada, reshaping how fans will watch games on television and streaming over the next decade.

Beginning with the 2026-2027 season, the deal makes Prime Video the exclusive Canadian broadcaster for at least 26 national regular-season games a year in both English and French as well as select rights to certainly Stanley Cup Playoff series.

The agreement moves mid-week and early post-season broadcasts of games to streaming from traditional cable platforms and expands Amazon's sports footprint across its Canadian subscriber base.

Celestica Raises Forecast on Improving Demand

Celestica raised its forecast for the year, citing expectations for stronger customer demand after sales jumped in its latest quarter.

The Toronto-based data center infrastructure company said it now forecasts adjusted earnings per share of $11.30 for the year, up from $10.15 previously. It now expects full-year revenue of $20.5 billion, up from a prior forecast of $19 billion.

The company said the increase to its guidance is driven by its projections for stronger customer demand in the current quarter, better visibility into the remainder of 2026 and improved component supply.

Multi-Year AI Roadmap Offers Confidence

ProMIS Alzheimer's Drug Shows Strong Safety Profile Midway Through Trial

ProMIS Neurosciences shared positive results for its trial of PMN310, a drug being developed to treat cognitive impairment in people with Alzheimer's disease.

The biopharmaceutical company said Tuesday that the drug had a positive safety profile so far and the majority of the 136 trial patients showed reductions in disease-relevant biomarkers.

Nasdaq-listed shares jumped 23.9% to settle at $14.52.

There were no cases of amyloid-related imaging abnormalities-edema, a type of brain swelling that is a side effect for some Alzheimer's drugs.

TFI International Revenue Rises on Growth Across Segments

TFI International logged higher profit and revenue in its latest quarter, driven by growth across each of its segments.

The Canadian transportation and logistics company posted a profit of $136.2 million, or $1.65 a share, compared with $98.2 million, or $1.17 a share, a year earlier.

Adjusted earnings per share were $1.85, topping estimates of $1.60 a share according to analysts polled by FactSet.

Revenue rose 12% to $2.29 billion, compared with analyst estimates of $2.23 billion.

TFI Intl Could See Boost from U.S., Canada Regulatory Squeeze

Denison Mines Begins Construction of Uranium Mine in Saskatchewan

Denison Mines has begun full-scale construction activities at its uranium mine in Saskatchewan.

The Canadian uranium exploration and development company said that the construction has begun at the Phoenix In-Situ Recovery mine following a period of site preparations which began in March.

The Phoenix deposit is the main high-grade uranium deposit of Denison's broader Wheeler River project, the largest undeveloped uranium project in the eastern portion of the Athabasca Basin region in northern Saskatchewan.

Denison expects construction to accelerate its pace throughout the remainder of the summer months thanks to the use of a second shift, which the company says will allow work to progress at all hours of the day and night.

HF Sinclair to Separate Lubricants and Specialties Segment

HF Sinclair plans to spin off its lubricants and specialties business segment in an effort to boost financial flexibility and line the energy company up for stronger and more consistent free cash flow.

The Dallas-based company said it will separate the operations through the capital markets, creating a new independent, publicly traded company. The transaction is expected to be completed over the next 12 to 18 months.

As part of the restructuring, HF Sinclair said it will retire its base oil refining assets in Mississauga, Ontario. The lubricants and specialties business will maintain a presence in the Ontario region, including continued operation of its research and development laboratory, lubricant blending and packaging, as well as supply chain, logistics, and commercial operations.

SNDL Shares Slide as Liquor, Cannabis Segments Drag Revenue

Shares of SNDL fell after the company reported headwinds in both its liquor and cannabis segments which dragged on revenue, leading to a loss in the second quarter.

Shares fell 9.6% to $1.22.

The New York-listed Canadian company reported a 3.7% decline in revenue to C$235.8 million.

Cannabis retail revenue fell 1.4% to C$83.2 million, while revenue from cannabis operations declined more than 10% to C$32.2 million. Liquor retail was down 5.1% to C$134.7 million.

Aecon Venture Strikes Deal for Battery Storage Project in Ontario

Canadian construction company Aecon is part of a group that plans to build and operate a battery-energy storage system in southwestern Ontario, strengthening grid reliability and helping support integration with renewable power generation.

Aecon said Simcoe Battery Project General Partnership signed an agreement with the province's Independent Electricity System Operator for the 150 megawatt, 1,200 megawatt hour project in Norfolk County.

Aecon, Six Nations of the Grand River Development, the Mississaugas of the Credit Business, Sitka Power and NRStor will be ownership partners, and will provide electricity storage services to IESO through a 20-year agreement. The partners will receive capacity payments from IESO for capacity services, as well as additional revenue from energy sold into the Ontario electricity grid and ancillary services.

TALKING POINT

LeBlanc Heading to Washington This Week for More Trade Talks

By Marieke Walsh and Mark Rendell for the Globe and Mail

Canada-U.S. Trade Minister Dominic LeBlanc will be in Washington again this week, as Ottawa seeks to avoid the imposition of punishing new tariffs on Aug. 19.

Mr. LeBlanc will head to the U.S. capital for meetings along with Canada's chief trade negotiator to the United States, Janice Charette, spokesperson Gabriel Brunet said in a Tuesday statement.

He declined to say who the Canadian officials would be meeting with or when precisely they will be in Washington.

Last week Prime Minister Mark Carney said the two governments had agreed to intensify talks after U.S. President Donald Trump said on July 20 that his administration would impose 50-per-cent tariffs on a wide range of Canadian goods. Unlike past tariff announcements, this one came with no exemption for goods compliant with the existing Canada-United States-Mexico Agreement on free trade.

If they come into force, the tariffs would put a squeeze on Ontario, Quebec and British Columbia's economies and largely spare the energy exporting economies of Alberta and Saskatchewan.

At the end of meetings with Canada's premiers last week, Mr. Carney said his government was aiming to strike a comprehensive agreement that addresses all of the tariffs that Mr. Trump has imposed or threatened, including those on autos, steel, and aluminum.

He cautioned that he was not signalling whether his government is expecting to be successful in its bid for a deal before the Aug. 19 tariffs. However, Mr. Carney said there was a depth to the talks between himself and the President as well as Mr. LeBlanc and Ms. Charette with their counterparts that "reflects the seriousness of the trade relationship and the breadth of the issues, so it creates an opportunity."

Mr. Carney did not rule out Canadian retaliation against the U.S. if the Aug. 19 tariffs are imposed but declined to specify what options his government is considering. He also tried to make the case that Canada and the U.S. have shared interests that can be addressed in a new deal to the benefit of both countries.

The Carney government has been more secretive in its handling of the trade talks when compared with how then prime minister Justin Trudeau's government managed the file under the first Trump administration.

In the talks that began in 2017, Ottawa disclosed some of its red lines and made the press aware of when and who government officials were meeting with their American counterparts. Media stakeouts of the closed door talks were a regular occurrence.

Those public interventions though, angered U.S. officials who thought Canada was negotiating in public.

One of the most public irritants that American officials have pointed to in the current talks is the ban on American alcohol products by some provinces, including Ontario and B.C.

At a Tuesday press conference, B.C. Premier David Eby said the province's forestry workers and their families are "under direct attack by the President, who has imposed draconian tariffs on our wood products."

He said while those tariffs are in place U.S. alcohol will not be allowed back on the shelves in B.C. stores. Mr. Eby said putting the alcohol back on the shelves without a deal on tariffs would "sell out forest families for nothing."

The Premier said his government will insist that forestry sectors be covered in any final agreement with the U.S. and will support Ottawa's efforts to strike a comprehensive trade deal.

Expected Major Events for Wednesday

06:00/GER: Jun Foreign trade price indices

08:00/ITA: May Industrial turnover

08:30/UK: Jun Money and Credit - Lending to Individuals, Lending to Businesses, Broad Money and Credit

08:30/UK: Jun Monetary & Financial Statistics

08:30/UK: Jun Bank of England effective interest rates

08:59/JPN: Jul Monthly Economic Report

11:00/US: 07/24 MBA Weekly Mortgage Applications Survey

14:00/US: Jun Metropolitan Area Employment and Unemployment

14:30/US: 07/24 EIA Weekly Petroleum Status Report

18:00/US: U.S. interest rate decision

23:01/UK: Jun UK monthly automotive manufacturing figures

23:01/UK: Jun Zoopla House Price Index

23:50/JPN: Jul Provisional Trade Statistics for 1st 10 days of Month

All times in GMT. Powered by Onclusive and Dow Jones.

Expected Earnings for Wednesday

Amphenol Corp $(APH)$ is expected to report $1.21 for 2Q.

Ares Capital Corp $(ARCC)$ is expected to report $0.48 for 2Q.

Bandwidth Inc $(BAND)$ is expected to report $-0.02 for 2Q.

Blackbaud Inc $(BLKB)$ is expected to report $0.71 for 2Q.

Boston Scientific Corp $(BSX)$ is expected to report $0.62 for 2Q.

Bunge Global SA $(BG)$ is expected to report $1.96 for 2Q.

CBRE Group Inc - Class A $(CBRE)$ is expected to report $1.32 for 2Q.

Capital Power Corp (CPX.T) is expected to report $0.51 for 2Q.

Capitol Federal Financial Inc (CFFN) is expected to report $0.17 for 3Q.

Eagle Materials Inc (EXP) is expected to report $3.38 for 1Q.

Evercore Inc - Class A (EVR) is expected to report $2.64 for 2Q.

Fannie Mae (FNMA) is expected to report $0.31 for 2Q.

Fortive Corp $(FTV)$ is expected to report $0.45 for 2Q.

Garrett Motion Inc (GTX) is expected to report $0.47 for 2Q.

General Dynamics Corp (GD) is expected to report $3.94 for 2Q.

Greene County Bancorp Inc $(GCBC)$ is expected to report for 4Q.

Hayward Holdings Inc $(HAYW)$ is expected to report $0.19 for 2Q.

Humana Inc $(HUM)$ is expected to report $6.81 for 2Q.

IDEX Corp (IEX) is expected to report $1.75 for 2Q.

Lennox International Inc $(LII)$ is expected to report $7.66 for 2Q.

Lithia Motors Inc $(LAD)$ is expected to report $8.72 for 2Q.

Littelfuse Inc $(LFUS)$ is expected to report $3.77 for 2Q.

M/I Homes Inc $(MHO)$ is expected to report $3.13 for 2Q.

Mechanics Bancorp (MCHB) is expected to report $0.25 for 2Q.

NVR Inc (NVR) is expected to report $102.72 for 2Q.

Old Dominion Freight Line Inc (ODFL) is expected to report $1.53 for 2Q.

OneMain Holdings Inc $(OMF)$ is expected to report $1.29 for 2Q.

PROG Holdings Inc $(PRG)$ is expected to report $0.81 for 2Q.

Procter & Gamble Co $(PG)$ is expected to report $1.39 for 4Q.

Prosperity Bancshares Inc (PB) is expected to report $1.51 for 2Q.

Red River Bancshares Inc (RRBI) is expected to report $1.76 for 2Q.

Secure Waste Infrastructure Corp (SES.T) is expected to report for 2Q.

Sofi Technologies Inc $(SOFI)$ is expected to report $0.11 for 2Q.

Stanley Black & Decker Inc $(SWK)$ is expected to report $1.16 for 2Q.

Stock Yards Bancorp Inc $(SYBT)$ is expected to report $1.08 for 2Q.

Strategic Education Inc $(STRA)$ is expected to report $1.38 for 2Q.

Vertiv Holdings Co $(VRT)$ is expected to report $1.24 for 2Q.

Wabash National Corp (WNC) is expected to report $-0.58 for 2Q.

Watsco Inc (WSO,WSOB) is expected to report $4.51 for 2Q.

Wingstop Inc $(WING)$ is expected to report $1.02 for 2Q.

Powered by Factset and Dow Jones.

We offer an enhanced version of this briefing that is optimized for viewing on mobile devices and sent directly to your email inbox. If you would like to sign up, please go to https://newsplus.wsj.com/subscriptions.

This article is a text version of a Wall Street Journal newsletter published earlier today.