Daily News

Source: BNN Bloomberg May 03, 2023

Bank stocks will do well coming out of a recession: Gordon Reid

The recent panic within the U.S. financial sector amid an uncertain global economic outlook has brought the price of bank stocks to attractive levels, one investment expert says. In this uncertain environment, both U.S. and Canadian bank stocks are being u...

Source: BNN Bloomberg May 03, 2023

Here are three undervalued Canadian stocks according to David Sekera

Some Canadian equities are being undervalued by investors, and one investment professional has zeroed in on which stocks might have the most upside potential. Speaking with BNN Bloomberg’s Amber Kanwar on Tuesday, David Sekera, chief U.S. market strategist...

Source: BNN Bloomberg May 03, 2023

TSX recap: Index finishes 1.01% lower amid losses in energy stocks

Canada's main stock index lost more than 200 points in a broad-based decline led by energy, while U.S. stock markets also fell. The S&P/TSX Composite Index closed down 207.54 points, or 1.01 per cent, at 20,407.56. In New York, the Dow Jones Industrial...

Source: BNN Bloomberg May 03, 2023

Starbucks sales top estimates, buoyed by strength in U.S. and China

Starbucks Corp. posted sales that beat estimates as U.S. and China transactions increased. But that wasn’t enough to satisfy investors following a 15 per cent run-up in the stock price this year. Shares further slid after Chief Executive Officer Laxman Nar...

Source: BNN Bloomberg May 03, 2023

Ford beats on first-quarter profit, maintains 2023 outlook

Ford Motor Co., beat first-quarter profit estimates, posting a surprisingly strong gain on higher vehicle pricing and increased sales volumes. It left its full-year outlook unchanged. The automaker Tuesday posted adjusted earnings per share of 63 cents, fa...

Source: BNN Bloomberg May 03, 2023

Apax weighs buyout of US$2B IT firm Thoughtworks

A consortium backed by buyout firm Apax Partners is considering a potential bid to take U.S.-listed technology consultancy Thoughtworks Holding Inc. private, people familiar with the matter said. Apax has teamed up with Canada Pension Plan Investment Board...

Market Call Source: BNN Bloomberg May 03, 2023

Michael Sprung's Top Picks: May 2, 2023

Michael Sprung, president, Sprung Investment Management FOCUS: Canadian large-cap stocks  MARKET OUTLOOK: Inflation and rising interest rates continue to be a major preoccupation for everyone. In this setting, capital markets are volatile as invest...

Company News Source: BNN Bloomberg May 03, 2023

Aritzia earns $37.3M in Q4 as sales continue to climb in U.S. and Canada

Aritzia Inc. says its net income for the fourth quarter was $37.3 million, up 9.1 per cent from $34.2 million a year earlier. The Vancouver-based clothing retailer saw its net revenue climb 43.5 per cent in the quarter ended Feb. 26 to $637.6 million. R...

Source: Financialpost May 03, 2023

Posthaste: Why life after interest rate hikes might not be all it's cracked up to be

Investors shouldn't break out the champagne just yet We apologize, but this video has failed to load. Try refreshing your browser, ortap here to see other videos from our team. Posthaste: Why life after interest rate h...

Source: Financialpost May 03, 2023

CI Financial cut to junk after asking S&P to stop ratings

S&P expects CI will operate with debt of four to five times earnings over the next year CI Financial Corp.’s debt was cut to junk by S&P Global Ratings after the Canadian asset manager asked S&P to stop rating its debt. The shares fell the most...