Here are five things you need to know this morning
Potential Barrick breakup: Major changes could be on the way at Barrick Mining. The Financial Times is reporting Elliott Management has built a stake in the Toronto-based gold-mining giant valued at as much as US$700 million. Elliott is an American hedge fund and activist investor, that typically forces major changes at companies. Barrick has struggled to benefit from the gold’s rally, largely due to issues at some of its international assets. Mark Bristow stepped down as CEO in September, reportedly due to a combination of factors, including disagreements about the company’s direction.
MTY reviewing options: MTY Food is reviewing its options, including a potential sale. The Montreal-based company has launched a review process and hired financial advisors to explore financial alternatives, including a partial or entire sale of the company. MTY says there is no assurance a transaction will occur. The company is home to quick-service chains such as Cold Stone Creamery, Wetzel’s Pretzels and Mister Sub.
Home Depot cuts forecast: Shares of Home Depot traded lower in the pre-market after the company cut its full year earnings guidance. The world’s largest home improvement retailer says ongoing consumer uncertainty and continued pressure on housing are impacting demand. Home Depot also reported lower than expected profit and sales in its latest quarter, citing a lack of storms that hampered demand in roofing, generators and other categories.
Bitcoin keeps sliding: The price of Bitcoin has dropped below US$90,000, deepening a month-long slide that has erased the cryptocurrency’s gains for 2025. Bitcoin last traded below $90,000 after U.S. President Donald Trump upended financial markets worldwide with his initial plan for trade tariffs. Some analysts are pointing to explanations such as rising economic headwinds and renewed concerns over interest-rate policy … but the key factor would seem to be that Bitcoin’s is vulnerable as its value is almost entirely based on speculation.
Cloudflare outage: Shares of Cloudflare came under pressure in the pre-market after the software company experienced a widespread, worldwide, networking outage. Websites including ChatGPT and social media platform X were impacted. The company website said it had been experiencing issues with a customer service portal and was scheduled for maintenance in some areas. Cloudflare’s system has gone down multiple times before.
