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Inside the Market

Up-to-the-minute insights
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Entry archive:

Cracks are beginning to appear in this bull market

GORDON PAPE

The S&P 500 and the Dow Jones Industrial Average set new records last week. Meantime, the U.S. Federal Reserve Board reduced its projected growth rate for the American economy for both 2014 and 2015 and we saw more disappointing numbers out of China. Also, inflation remains low in both the U.S. and Canada.

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Critical of TFSAs? You're missing the point

ROB CARRICK

Enough with the ill-informed trash talking about tax-free savings accounts.

Here’s one complaint I hear a lot: TFSAs are a waste of time because interest rates on bank savings accounts are so low. People ask, what’s the big deal about avoiding tax on gains of 1 to 2 per cent, especially when inflation is running even or just ahead of these rates?

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Top links: The smart money is not all that smart

SCOTT BARLOW

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

Professional money managers and traders often use the derisive term “dumb money” to describe retail investors but a recent study shows that the alleged smart money isn’t that bright either. High net worth client management firm Northern Trust recently published a study, summarized by the Climateer investing blog:

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Tuesday's small-cap stocks to watch

JODY WHITE

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

MacDonald, Dettwiler and Associates Ltd. said that it has won three contracts with the Canadian Space Agency.

The first project involves evaluating how radar and optical images can be combined to detect and track ships more rapidly. The second project will focus on improving monitoring techniques of geohazards in pipeline corridors. For the third project, MDA intends to demonstrate the added value of RADARSAT-2 in the monitoring of forest areas.

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Latest case for a bull market stretches credulity

DAVID BERMAN

In his latest note on U.S. stocks, Goldman Sachs strategist David Kostin uses physics terminology to describe the next few trends for the S&P 500. It’s entertaining, for sure, but does the clever approach suggest that bullish observers are starting to reach?

Mr. Kostin is not an aggressive bull by any means. He sees the S&P 500 rising to 2,150 over the next 12 months, implying a gain of about 7 per cent from the current level.

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Monday’s small-cap stocks to watch

JODY WHITE

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

Banro Corp., commenting on "unusual market activity and volatility" of its shares on Friday, said: "It came to the attention of the company that there was a rebalancing of the GDXJ Index (ETF). A market announcement regarding this was made early in the week of September 15, 2014 and the company understands that the transaction closed on Friday, September 19, 2014. The company also understands that this ETF held approximately 25.6 million Banro common shares prior to rebalancing."

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Shell out for defence stocks before they explode

DAVID BERMAN

When you’ve given up on the world, gold looks like a good investment. But if your outlook is merely bleak, then defence stocks look like a better bet.

Defence, of course, is a euphemism. What we’re really talking about here are companies that make bullets, bombs and rockets, which hold particular appeal when global violence is on the rise – or, to be more precise, when the U.S. military is gearing up for action.

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The week's best web reads: What active fund investors are doing wrong

Darcy Keith

Inside the Market's weekend roundup of some of last week's best investing reads on the Internet, which are highlighted every morning in our Before the Bell report.

Insight

What many active investors in mutual funds are doing wrong.

A simple way to beat the market with stock splits.

How to cultivate trading intuition.

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Friday'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.

Cantor Fitzgerald analyst Youssef Squali initiated coverage on Alibaba Group Holding Ltd. with a "buy" rating and $90 (U.S.) price target, believing that the Chinese company that began trading today has the potential to dominate global online commerce.

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Top links: Alibaba and the many problems with IPOs

SCOTT BARLOW

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

Before mentioning the Alibaba Group initial public offering, readers should know that 20 years in finance has taught me to be deeply suspicious of the process. Some of the biggest problems in finance – analyst conflicts of interest, exorbitant fees, the stoking of irrational exuberance among investors, dangerous small print – are frequently magnified when deals get done. All too often, the investment banking departments and brokers reap the monetary rewards while the newly public stocks steadily drift lower.

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Friday’s small-cap stocks to watch: Software firm surges 9% as RBC says buy

JODY WHITE

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

Shares in Redknee Solutions Inc. rose nearly 12 per cent Friday in the wake of an analyst upgrade.

RBC Dominion Securities analyst Paul Treiber said that the sharp recent price depreciation of Redknee Solutions shares is not the software company’s fault, and makes the stock very attractive from a risk-reward perspective.

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Rob Carrick’s top Canadian dividend growth stocks

ROB CARRICK

Follow dividend growth if you want a short-cut to the best of blue-chip Canada.

Strong dividend growth often comes right alongside strong share price growth over the long term. Where there’s consistent dividend growth, there’s often a well-run, profitable business. Net result: Outsize total returns, especially in the context of the blue-chip universe of mature companies.

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Before the bell: U.S. stocks set for records, Alibaba trades

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.

Global markets overcame their two big hurdles this week - the Fed's latest views on monetary policy and the threat of Scottish independence from the United Kingdom - and the result will almost certainly be record highs today for both the S&P 500 and the Dow.

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Top links: Assault on hedge fund fees continues

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 Atlantic’s Quartz business site presents a compelling case that a stealth rally in the U.S. housing market is already underway. Builder Lennar Corp. reported much stronger-than-expected profits in the most recent quarter and, according to the National Association of Home Builders , confidence levels are approaching pre-crisis highs. The trend is excellent news for Canadian forestry stocks like Norbord Inc.

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Thursday'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.

Analysts are expressing renewed confidence in the Brookfield group of companies after attending investor meetings this week.

Canaccord Genuity upgraded Brookfield Asset Management to "buy" from "hold" with a price target of $55 (US). And Raymond James says "the time is right for investors to be adding more aggressively" to their positions in both Brookfield Infrastructure Partners LP and Brookfield Renewable Energy Partners LP.

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Today’s small-cap stocks to watch: Dividend-paying fuel stock surges 10%

JODY WHITE

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

Parkland Fuel Corp. announced late Wednesday that it has entered into an agreement to acquire the assets of Pioneer Energy.

Parkland will pay $378-million (Canadian), including $259-million in cash, $119-million in common shares of Parkland, and the assumption of standard operating liabilities. At 6.9 times Pioneer’s trailing 12-month EBITDA of approximately $55-million, Parkland says the acquisition is both accretive and attractively priced for a premier retail fuel network. Suncor Energy, as one of the current joint owners of Pioneer Energy, will receive $182.5-million in cash for its share.

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