The Daily Chase: Suncor to grow stake in Fort Hills; Shopify beats Wall Street expectations

Suncor is doubling down on the Fort Hills oil sands project.

SHOPIFY SURGES AFTER EARNINGS BEAT

Shares of Shopify are surging in the premarket – up nearly eight per cent at last check of its New York listing – after the company topped third quarter earnings expectations. Adjusted loss per share came in smaller than expected – two cents against an estimate of seven cents – and revenue narrowly topped estimates. Overall, revenue was up 22 per cent year-over-year, though the strong U.S. dollar did create a bit of a drag. While the premarket pop is significant, it’s worth noting shares of the company are down some 76 per cent over the last year.

META TANKS AS COSTS BALLOON