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Inside the Market

Up-to-the-minute insights
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Entry archive:

Top links: What to do about Canadian bank stocks

SCOTT BARLOW

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

JPMorgan Chase & Co. CEO Jamie Dimon apparently believes that only bad investors want to limit his pay, in a remarkably tone deaf display of hubris.

“God knows how any of you can place your vote based [proxy advisors], ” Mr Dimon said at the Sanford C. Bernstein & Co. investing conference. “If you do that, you are just irresponsible, I’m sorry. And you probably aren’t a very good investor, either. And you do. Believe me. I know some of you here do it, because you’re lazy.”

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Thursday’s small-cap stocks to watch

GILLIAN LIVINGSTON and TIM SHUFELT

Our roundup of Canadian small-caps making news and on the move today.

Questor Technology Inc. (QST-X) posted a 26-per-cent decrease in revenues as its customers looked for “opportunities to reduce costs and defer capital spending” amid the plunge in energy prices. For the three months ended March 31, the oilfield services company generated revenue of $2.4-million, down from $3.2-million in the same period last year. Basic earnings per share declined to $0.02 from $0.032 over the time. “Demand for our products is expected to grow quickly in both the sales and rental businesses,” said Audrey Mascarenhas, Questor’s CEO. “The market downturn created an opportunity for Questor to add additional talent to the marketing and sales team who will focus on the opportunities in the U.S. and Canada. We have an inventory of units available and have fabrication partners with sufficient capacity to meet new orders.”

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CPP reform is wishful thinking. Here’s a more realistic alternative

IAN McGUGAN

It is conceivable that the federal Conservatives will unveil a sweeping reform of the Canada Pension Plan – just as it’s conceivable you will see a unicorn on your way to work.

Finance Minister Joe Oliver’s pledge on Tuesday to consult Canadians about a voluntary, expanded CPP constituted a precisely choreographed exercise in deliberate obscurity. His cloudy promise – consult whom? on what exactly? – was what you might expect of a party that wants to pay just enough attention to the idea to prevent the opposition from running away with it before the next election.

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Wednesday’s analyst upgrades and downgrades

DAVID LEEDER

Inside the Market’s roundup of some of today’s key analyst actions. This file will be updated often during the trading day so check back for new details.

The Street is underestimating the potential of Magna International Inc., said Deutsche Bank analyst Rod Lache, who upgraded the stock from “hold” to “buy.”

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Top Links: Iraq is about to flood the oil market

Scott Barlow

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

An FBI investigation has led to the arrest of at least nine prominent officials from FIFA, the governing body of international soccer. This represents one of my favourite news events of all time.

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Wednesday’s small-cap stocks to watch

GILLIAN LIVINGSTON

Our roundup of Canadian small-caps making news and on the move today.

Montreal-based online gaming company Amaya Inc. (AYA-T), which owns the PokerStars and Full Tilt brands, said The Nasdaq Stock Market LLC has approved the listing of Amaya’s common shares on The Nasdaq Global Select Market and it expects trading to start on June 8 under the symbol “AYA.” The company’s shares will also continue to trade on the Toronto Stock Exchange under the symbol “AYA.”

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Q&A: Top tips for investors from Mawer's Kara Lilly

Darcy Keith

For this week's live discussion at Inside the Market, we will be joined by Kara Lilly, investment strategist at Mawer Investment Management. She'll be discussing her market outlook and Canadian stock picks.

Ms. Lilly has been with Mawer since 2009 and plays an active role in asset mix, risk management and the macroeconomic investment process. She is a Chartered Financial Analyst.

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Tuesday’s analyst upgrades and downgrades

DAVID LEEDER

Inside the Market’s roundup of some of today’s key analyst actions. This file will be updated often during the trading day so check back for new details.

The decision by Torc Oil & Gas Ltd. to increase its position in Saskatchewan raises its valuation and reduces its risk profile, according to Canaccord Genuity analyst Anthony Petrucci.

In April, Torc announced it has acquired assets producing 4,750 barrels of oil per day (boe) in southeast Saskatchewan and Manitoba from Surge Energy Inc. for $430-million. The deal will be funded by concurrent financings and debt.

Mr. Petrucci said the acquisition compliments the company’s existing asset in Saskatchewan, which he views as its “primary driver of cash flow and value.” It is expected to improve Torc’s corporate efficiency.

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Top Links: China’s economy is in trouble

Scott Barlow

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

Nothing in finance is inevitable, but a series of in-depth reports signal that the odds of a severe credit crisis in China are rising by the day. First from Quartz, using data from the Bank of International Settlements:

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Tuesday’s small-cap stocks to watch

GILLIAN LIVINGSTON

Our roundup of Canadian small-caps making news and on the move today.

Montreal-based Orbite Aluminae Inc. (ORT-T) said its tax consultants have estimated that the company is eligible to receive refundable investment tax credits (ITCs) of $7.5-million for fiscal 2015 for its investments in the Gaspe region incurred during 2015, 2016 and 2017.

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Monday’s analyst upgrades and downgrades

DAVID LEEDER

Inside the Market’s roundup of some of today’s key analyst actions. This file will be updated often during the trading day so check back for new details.

With a more favourable view of the wireless industry, TD Securities analyst Vince Valentini upgraded Telus Corp to “buy” from “hold.”

Mr. Valentini said it is now possible to gain a “constructive” view of the sector after the passing of several potential “headline risks,” include spectrum auctions and the Canadian Radio-television and Telecommunications Commission roaming decision. Given approximately 65 per cent of Telus’ earnings before interest, taxes, depreciation and amortization come from its wireless business, Telus’ outlook is “more favourable,” according to the analyst.

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Top Links: Current global economy like the 'Titanic but without life boats'

Scott Barlow

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

Bloomberg reports that global investors have abruptly removed their bullish trades on the loonie. The oil price rally, at least temporarily stalled out below $60 (U.S.) per barrel is one factor along with hawkish noises out of U.S. Fed chairwoman Janet Yellen:

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Monday’s small-cap stocks to watch

GILLIAN LIVINGSTON

Our roundup of Canadian small-caps making news and on the move today.

Hong Kong-based SouthGobi Resources Ltd. (SGQ-T) said the Toronto Stock Exchange as deferred its delisting decision on the company’s stock until no later than June 24. The mining company was placed on a remedial delisting review on Feb. 25 “in connection with its reliance on the financial hardship exemption which allowed the company to complete the private placement with Novel Sunrise Investments Ltd. without seeking shareholder approval. A delisting review is customary practice under TSX policies when a listed company relies on the financial hardship exemption,” the company said.

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Friday’s analyst upgrades and downgrades

DAVID LEEDER

Inside the Market’s roundup of some of today’s key analyst actions. This file will be updated often during the trading day so check back for new details.

Netflix Inc. has “achieved a level of sustainable scale, growth, and profitability that isn’t currently reflected in its stock price,” said RBC Dominion Securities analyst Mark Mahaney.

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Top Links: Driverless cars, labour strife and a giant policy challenge

SCOTT BARLOW

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

The technology to safely operate Toronto’s streetcars and subways without drivers already exists. One assumes, however, that any attempt by local government to apply this software would be met by immediate labour action by the transit union and they would be well within their rights. Voters, on the other hand, would see a rare opportunity for increased government efficiencies that would allow for enhanced service or even, gasp, lower fares.

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