CN reports higher Q2 profit but cuts outlook due to tariff concerns + MORE Jul 24th

Rogers Communications Inc. hopes to find  “revenue and cost synergies” in its expanded portfolio of sports assets after becoming the majority owner of Maple Leaf Sports & Entertainment. The Toronto-based telecom company believes its stock price undervalues its media and sports holdings and says it is “pursuing all options … to monetize and surface the very substantial unrecognized market value”  of those assets.

Earlier this month, Rogers completed its $4.7-billion deal with rival BCE Inc. to buy its 37.5% stake in MLSE. The acquisition, which closed July 1 after receiving the necessary regulatory and league approvals, made Rogers the majority owner of the sports conglomerate that owns the NHL’s Maple Leafs, NBA’s Raptors, CFL’s Argonauts, MLS’ Toronto FC and AHL’s Marlies.

Rogers also owns MLB’s Toronto Blue Jays.

Rogers explores sports and media synergies to unlock shareholder value

“On sports and media, it’s clear that there is significant underlying value and we are squarely focused as we put the assets together … to continue to strengthen our balance sheet,” said Rogers president and CEO Tony Staffieri on a conference call Wednesday, as the company reported its latest earnings…

US automakers say Trump’s 15% tariff deal with Japan puts them at a disadvantage  Yahoo.coFact Sheet: President Donald J. Trump Secures Unprecedented U.S.–Japan Strategic Trade and Investment Agreement  The White House (.gov)Trump’s ‘massive’ deal with Japan is giving US automakers heartburn  PoliticoTrump announces ‘massive’ trade agreement with Japan  CNNU.S. automakers say Trump’s tariff deal with Japan puts them at a disadvantage  The Globe and Mail

Canadian National Railway Co. reported its profit ticked up during its second quarter compared with last year, as it said trade uncertainty is making it difficult for it to provide investors with an outlook. 

The Montreal-based company said in a release Tuesday that it is removing its previously issued 2024-26 financial outlook given continued uncertainty surrounding trade and tariffs. 

“We are indeed in uncertain times and while we can’t predict exactly where tariffs and trade and the economy will go, we are very intensely focused on doing the things that we can do both with our customers and in controlling our costs to make sure that we protect our margins and are well positioned to execute our growth strategy as we go forward,” Tracy Robinson, CN’s president and CEO, told analysts on a conference call. 

CN trims outlook for cargo volumes, profit growth, and spending

Janet Drysdale, the interim chief commercial officer for CN, said the on-again, off-again tariffs were causing customers to re-evaluate their supply chains…