Here are five things you need to know this morning
Management shakeup at Barrick: Barrick Mining is shaking up management following reports activist investor Elliott Management has built a large stake in the miner. Bloomberg and The Globe and Mail have obtained a letter to employees signed by Barrick’s CEO mentioning changes to the regional operating model of Canada’s second-biggest mining company. Two senior managers and a top executive are departing as part of the overhaul. There are reports Elliott is pushing for further changes, including splitting Barrick into two separate companies.
Metro beats expectations: Metro beat revenue estimates in its latest quarter, with sales growth up over three per cent. The Montreal-based grocery chain also reported profit that beat estimates. The company noted its frozen distribution centre in Toronto resumed operations last week. The two-month shutdown is expected to cost about 15 to 20 million dollars in the first quarter of 2026.
Target trims forecast: Shares of Target traded lower in the premarket. The U.S. discount retailer trimmed its profit forecast for the full year as it deals with markdowns and soft demand in key merchandise areas. While third quarter results surpassed average analyst estimates, same store sales fell by more than two per cent. For the fourth quarter, Target is maintaining its expectation of a low, single digit decline in sales.
Lowe’s tops expectations: Shares of Lowe’s traded higher in the premarket. The home improvement company topped expectations on profit, helped by consumer spending on home renovations. The American company posted growth in same-store sales on strength in its digital channel and home services. Sales to professional contractors also saw continued growth. Lowe’s now see their full year profit target at the lower end of the previously announced range.
Brookfield launches US$100B AI fund: Brookfield is partnering with Nvidia and the Kuwait Investment Authority to introduce a US$100 billion global AI infrastructure program and fund. The new project is looking to make purchases in AI assets across energy, land, data and other aspects of the infrastructure chain. The fund launches today with a target of US$10 billion of equity commitments.
