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Inside the Market

Up-to-the-minute insights
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Entry archive:

Today's analyst upgrades and downgrades

Darcy Keith

Inside the Market’s roundup of some of today’s key analyst actions. This file will be updated during the trading day.

Credit Suisse has raised its price targets on all the major Canadian banks by 15 per cent as it transferred coverage to a new analyst, Kevin Choquette.

Mr. Choquette downgraded his rating on one of them, Bank of Montreal, now calling it a "neutral" instead of "outperform."

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Top links: Why listening to doomsayers is dangerous

SCOTT BARLOW

A roundup of what The Globe and Mail's market strategist Scott Barlow is reading this morning on the World Wide Web.

Stony Brook University economics professor Noah Smith coined the best investment phrase of 2014 with “macro-tainment” on Wednesday. The phrase describes the investment advice of doomsayers who, like the proverbial broken clock that tells the correct time twice a day, predict a market apocalypse every week and then proclaim victory when something finally goes wrong.

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Small-cap stock watch: Analyst expects shares in drug firm to nearly double

Stephanie Chan and Darcy Keith

Inside the Market’s roundup of some of the Canadian small caps making news and on the move today. This post will be updated during the trading day.

Clarus Securities initiated coverage on Tekmira Pharmaceuticals Corp., a biopharmaceutical company, with a price target that suggests the stock could almost double in the coming year.

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Before the bell: Stocks sharply lower, burst of earnings

Darcy Keith

The Before the Bell report is constantly updated to reflect the latest news developments and market moves in the premarket. Check back later for updates.

Another burst of earnings reports today is making for active trade this morning, with the overall direction of markets decidedly to the downside amid a resurgence of worries about the arrival of higher interest rates and the still precarious financial state of Europe.

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One of the few quality dividend stocks left that pays a 5% yield

GORDON PAPE

The search for good-quality yield is becoming increasingly difficult. Many of the companies I recommended in my Income Investor newsletter at a time when their shares were paying 5 per cent or more have seen their yields fall to well below that level due to price appreciation.

One example is Moreau Shepell Inc. When I recommended it in 2011, the stock was yielding a handsome 7.6 per cent. But the share price has risen almost $7 since then while the dividend has remained unchanged, dropping the yield all the way to 4.6 per cent.

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Upgrades and downgrades: Analyst expects pause in Canadian bank stock rally

Darcy Keith

Inside the Market’s roundup of some of today’s key analyst actions. This file will be updated during the trading day.

Canadian banks may be due for a pause, although valuations don’t look so expensive as to suggest a pullback, Canaccord Genuity analyst Gabriel Dechaine said.

This year so far has been a good one for Canadian bank stocks, which may have caught investors by surprise, Mr. Dechaine said. Many expected loan growth to slow on rising interest rates and high household debt levels.

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Top links: Our market strategist's picks for today's must reads

SCOTT BARLOW

A roundup of what The Globe and Mail's market strategist Scott Barlow is reading this morning on the World Wide Web.

A Bloomberg report comparing the uber-wealthy of China and the United States also contains an undeniable warning about the importance of China’s property markets. Christina Lawson writes: “Real estate accounted for 70 percent of all household wealth in China. (The bottom quarter of households, tellingly, control just 1 percent of China’s wealth.) The outsize reliance on real estate as an investment vehicle for both individuals and enterprises is troubling, given widespread concerns about a property bubble.”

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Before the bell: Stock futures surge on surprise U.S. GDP data

Darcy Keith

The Before the Bell report is constantly updated to reflect the latest news developments and market moves in the premarket. Check back later for updates.

Stock futures have extended gains in the premarket after the U.S. reported a stronger-than-expected first reading of second-quarter gross domestic product.

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Why the end of this aging bull market isn't in sight

DAVID BERMAN

When stocks fall 20 per cent, a bull market by definition ends. But the tricky part is trying to figure out what will trigger it, and when.

With the S&P 500 up nearly 200 per cent from its low in 2009, investing conditions looking eerily calm and valuations that are no longer cheap, a number of market watchers are starting to ponder this issue.

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Where to park your cash while you wait for the correction

ROB CARRICK

A question for worried investors: Would you prefer a one-year return as high as 1.95- to 2.4-per cent from a guaranteed investment certificate, or the potential to both make and lose much more than that?

We know the stock market has to pull back at some point after rallying for the better part of the past five years. If you’re a long-term investor, this should mean nothing to you because you know that market gains overwhelm losses over the decades. But a lot of people have significant amounts of cash in their accounts right now and can’t pull the trigger on investing it. They’ve been waiting for a correction that hasn’t come.

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Blog contributors

David Berman

David Berman has been writing about business and investing since 1995. He has written for a number of magazines, including Canadian Business and MoneySense.

Follow David on Twitter @@dberman_ROB

Darcy Keith

Darcy Keith has been a business journalist since 1992 and joined the Report on Business in 2010 from Yahoo! Canada, where he was the senior editor of finance.

Follow Darcy on Twitter @eyeonequities

Scott Barlow

Scott Barlow is The Globe's in-house market strategist. He is a 20-year veteran of Canadian investment banks, including Merrill Lynch Canada, CIBC Wood Gundy and Macquarie Private Wealth (MPW).

Rob Carrick

Rob Carrick has been writing about personal finance, business and economics for close to 20 years. He joined The Globe and Mail in late 1996 as an investment reporter and has been personal finance columnist since November 1998.

Follow Rob on Twitter @rcarrick

Sonali Verma

Sonali Verma is digital editor and investment editor at the Report on Business. She has worked as a reporter, editor and producer of business news at Reuters, CNBC and Bloomberg News since 1995.

Follow Sonali on Twitter @SVerma__

David Milstead

A business journalist since 1994, David Milstead began writing for The Globe and Mail in 2009. During eight years at the Rocky Mountain News in Denver, Colo., he individually or jointly won nine national awards from SABEW, the Society of American Business Editors and Writers.

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