Nyse Order Imbalance 50059.0 Shares On Buy Side

Canada's telecommunications companies are well-placed to build out Canada's artificial intelligence ecosystem, says Morningstar DBRS' Scott Rattee. The analyst says this is because large national telecoms have the built-in "technological expertise, resources, and reputation as trusted partners for mission-critical applications." Rattee adds that, though this is still in the early stages of development and implementation, the telecoms that can move quickly on development and application of AI plans will be best positioned to capture enterprise and government market share as these parts of the industry are set to expand meaningfully over the next five years. (adriano.marchese@wsj.com)

Quebecor has been trading high, beating the other major Canadian telcos by a healthy margin, and there is still room to grow, TD Cowen's Vince Valentini says in a report. Quebecor is trading at a premium to Rogers, Telus and BCE, but investors are likely willing to pay a premium for the faster-growing player with a lower starting point for both market share and annual revenue per unit, the analyst says. "We do not want to downgrade to a hold in the face of such strong momentum and with the likelihood of a return to positive Y/Y growth in mobile ARPU in 4Q," Valentini says. (adriano.marchese@wsj.com)

Ratings actions from Baystreet: http://www.baystreet.ca

These disclosures are from 13Ds filed with the Securities and Exchange Commission. 13Ds are filed within 10 days of an entity's attaining more than 5% in any class of a company's securities. Subsequent changes in holdings or intentions must be reported in amended filings. This material is from Oct. 30 through Nov. 5, 2025. Source: VerityData

Original Filings

MapLight Therapeutics (MPLT) Novo Holdings A/S disclosed a new position in the biopharmaceutical company of 3,686,622 shares. Novo purchased 952,941 of those shares into the company's initial public offering on Oct. 3 for $17 per share. Following those purchases, Novo owns an 8.4% stake in MapLight Therapeutics' outstanding stock. Shares of MapLight Therapeutics have lost roughly 12.8% of their value in 2025.

Increases in Holdings

Gold Royalty (GROY) Tether Holdings raised its stake in the gold-focused royalty company to 17,991,198 shares. Tether Holdings did so through the purchase of 9,691,198 Gold Royalty shares from Oct. 17 through Oct. 31 at per share prices ranging from $3.50 to $3.72. Following the latest purchases, Tether Holdings owns a 10.5% stake in Gold Royalty's outstanding stock. Shares of Gold Royalty have surged to gain 173.4% in value in 2025.

Neumora Therapeutics (NMRA) Arch Venture Partners raised its stake in the clinical-stage biopharmaceutical company to 33,958,967 shares. Arch Venture Partners did so through the purchase of 1,915,700 Neumora Therapeutics shares on Oct. 27 at a price of $2.61 per share. Following the latest purchases, Arch Venture Partners owns a 20.7% stake in Neumora Therapeutics' outstanding stock. Shares of Neumora Therapeutics have gained roughly 33% in value since the beginning of this year.

Decreases in Holdings

Insight Enterprises (NSIT) ValueAct Capital lowered its stake in the enterprise IT company to 1,666,739 shares. ValueAct did so through the sale of 435,000 Insight Enterprises shares from Oct. 10 through Oct. 28 at per share prices of $105.13 to $109.88. Following the latest sales, ValueAct continues to own 5.3% of Insight Enterprises' outstanding stock. Shares of Insight Enterprises have lost about 36.4% of their value in 2025.

Garrett Motion (GTX) Oaktree Value Opportunity Fund reduced its stake in the vehicle-parts maker to 25,894,816 shares. Oaktree did so through the sale of 6,000,000 Garrett Motion shares in a block sale to BofA Securities for $16.25 per share on Oct. 27. Following the latest sales, Oaktree Value Opportunity Fund continues to own 13.3% of Garrett Motion's outstanding stock. Shares of Garrett Motion have gained roughly 96% in value in 2025.

Rogers (ROG) Starboard Value lowered its stake in the engineered products company to 1,203,457 shares. Starboard Value did so through the sale of 473,045 Rogers shares from Oct. 24 through Oct. 31 at per share prices ranging from $83.42 to $86.92. Following the latest sales, Starboard Value continues to own 6.7% of Rogers' outstanding stock. Shares of Rogers have lost approximately 13.4% of their value in 2025.

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Ratings actions from Baystreet: http://www.baystreet.ca

(15:32 GMT) Rogers Communications Inc. Is Maintained at Overweight by JP Morgan

Ratings actions from Baystreet: http://www.baystreet.ca