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Inside the Market

Up-to-the-minute insights
on developing market news

Entry archive:

Friday’s small-cap stocks to watch

SERES LU

Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.

Toronto-based OneREIT (ONR-T), an open-end real estate investment trust, said it has changed its name from "Retrocom Real Estate Investment Trust" to "OneREIT.”

Effective Friday, OneREIT's trust units will begin trading on the Toronto Stock Exchange under the new symbol "ONR.UN.” Its debentures will trade at "ONR.DB.B" and ONR.DB.C.”

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Before the Bell: Commodities have further to fall

Jennifer Dowty

Jennifer Dowty, Chartered Financial Analyst, writes exclusively for Globe Unlimited subscribers. The Before the Bell report is updated throughout the premarket to reflect latest developments.

Good Friday morning to you on this final trading day of the month.

This second quarter earnings season has been, so far, uninspiring. Investors need to select their stocks carefully as this is a stock pickers market. The key takeaway for today, is the strengthening U.S. dollar and continued pressure on commodity prices.

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Thursday’s small-cap stocks to watch

Seres Lu

Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.

Tembec Inc. (TMB-T) has announced earnings for its third quarter ended June 27. Consolidated sales were $365-million, as compared to $404-million in the same quarter a year ago. The company had a net loss of $16-million or 16 cents per share compared to net earnings of $30-million or 30 cents per share a year ago.

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Before the Bell: Focus returns to earnings, fundamentals

Jennifer Dowty

Jennifer Dowty, Chartered Financial Analyst, writes exclusively for Globe Unlimited subscribers. The Before the Bell report is updated throughout the premarket to reflect latest developments.

Good Thursday morning to you.

Today, U.S. futures have turned negative this morning, suggesting that the markets will open lower but the S&P/TSX 60 Index Futures remain relatively flat, but positive. Markets rallyied strongly yesterday, and it will be earnings reports that drive the direction of the market and stocks. Crude oil is stabilizing and the price of gold is under some pressure this morning.

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Wednesday’s small-cap stocks to watch

Gillian Livingston

Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.

 

TransAlta Corp. (TA-T; TAC-N) reported second quarter 2015 comparable earnings before interest, taxes, depreciation and amortization of $183-million, a decrease of $30-million compared to last year and comparable funds from operations of $160-million, $6-million higher than last year.  The net loss attributable to common shareholders was $131-million for the quarter, or 47 cents per share, compared to a net loss of $50-million, or 18 cents per share for the same period in 2014. Revenue for the quarter was $438-million, down from $491-million a year ago.

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Before the Bell: Energy stocks look to oil inventory report

Jennifer Dowty

Jennifer Dowty, Chartered Financial Analyst, writes exclusively for Globe Unlimited subscribers. The Before the Bell report is updated throughout the premarket to reflect latest developments.

The S&P/TSX composite ended its seven day losing streak on Tuesday, but just barely, inching higher by half a per cent.  This morning, North American futures are positive, setting the stage for markets to open higher.

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Tuesday’s small-cap stocks to watch

SERES LU

Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.

Sherritt International Corp. (S-T) said it has appointed David Bacon to the position of senior vice-president. Mr. Bacon will join Sherritt on Sept.9 and will become the company’s chief financial officer on Nov. 2, following the announcement of the company’s third quarter results. Current CFO Dean Chambers will support the transition before retiring March 31, 2016. Mr. Bacon is currently the senior vice-president and CFO of Canada Cartage.

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Before the Bell: Markets poised for a rebound

Jennifer Dowty

Jennifer Dowty, Chartered Financial Analyst, writes exclusively for Globe Unlimited subscribers. The Before the Bell report is updated throughout the premarket to reflect latest developments.

Good Tuesday morning to you. Well, after seven consecutive days of losses for the S&P/TSX composite index, it appears that the losing streak will end today. The S&P/TSX 60 Index Futures are positive this morning as are U.S. futures, with the Dow, S&P 500, and Nasdaq futures all pointing to a solid, positive opening for the markets.

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Monday’s small-cap stocks to watch

SERES LU

Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.

Capital Power Corp. (CPX-T) reported a net loss attributable to shareholders for the second quarter ended June 30 of $34-million, or 39 cents per share, compared with a profit of $20-million, or 17 cents per share, for the same period in 2014. Net cash flows from operating activities were $14-million in the quarter compared with $98-million last year. Funds from operations were $70-million in the second quarter, down 18 per cent from $85-million last year. “Financial results in the second quarter were slightly below our expectations primarily due to a 28-day unplanned outage at the Shepard Energy Centre relating to a heat recovery steam generator outage,” said Brian Vaasjo, President and CEO of Capital Power. “Repair work on this defect has been completed and the Shepard facility returned to operations in late June.” The company also said its board approved a 7.4-per-cent dividend increase, boosting its quarterly dividend to 36.5 cents per share from 34 cents for an annualized dividend rate of $1.46 per common share.

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Before the bell: Take profits in rough markets

JENNIFER DOWTY

Jennifer Dowty, Chartered Financial Analyst, writes exclusively for Globe Unlimited subscribers. The Before the Bell report is updated throughout the premarket to reflect latest developments.

Good Monday morning to you. North American Futures are negative and have been declining throughout the morning and are currently suggesting that markets will open lower this morning.

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Friday's small-cap stocks to watch

Seres Lu

Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.

TransForce Inc. (TFI-T) announced its results for the second quarter ended June 30, 2015 and cut its forward guidance. TransForce grew revenue and profits from last year thanks to acquisitions, but revised downwards its anticipated full-year results on softer than expected economic conditions. Revenue excluding fuel surcharges was $998.1-million, up 27 per cent from the second quarter of 2014. Net income was $64.1-million compared to $37.3-million during the same period last year. The company now expects full year revenue of $4.3-billion (down from $4.4–4.5-billion) and adjusted EPS of $1.97–2.12 (down from $2.15–2.30).

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Before the bell: Stocks waver, beware of resources

Jennifer Dowty

Jennifer Dowty, Chartered Financial Analyst, writes exclusively for Globe Unlimited subscribers. The Before the Bell report is updated throughout the premarket to reflect latest developments.

Good Friday morning to you. Welcome to the last trading day of the week. North American futures are mixed, after trading higher earlier this morning, suggesting a relatively flat open.

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Top Links: Downside could be ‘enormous’ for the loonie

Scott Barlow

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

Pearson PLC has agreed to sell the Financial Times to employee-owned Japanese media group Nikkei for 1.3-billion. Rumours that a deal was imminent set off a storm of speculation in the early hours Thursday but none of those thought the most likely candidates - Bloomberg, Thomson Reuters and Germany’s Axel Springer – were the eventual buyers.

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Thursday's small-cap stocks to watch

Seres Lu

Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.

Superior Plus Corp. (SPB-T) announced a reduction in its 2015 financial outlook due to lower than expected results for the second quarter of 2015. The reduction comes from weak performance in its specialty chemicals business, in particular. Revenues for the second quarter were $743.9-million, compared to $895.4-million from the same period last year. Superior expects EBITDA from operations for 2015 to be approximately $30 million lower than in 2014. It is also forecasting a total debt to EBITDA ratio at December 31, 2015 of 3.4 times to 3.8 times compared to the previously provided range of 3.0 times to 3.4 times forecast at the first quarter of 2015.

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Before the bell: TSX may finally rise, Rogers beats estimates

Jennifer Dowty

Jennifer Dowty, Chartered Financial Analyst, writes exclusively for Globe Unlimited subscribers. The Before the Bell report is updated throughout the premarket to reflect latest developments.

Good Thursday morning to you. The S&P/TSX composite index has been down for four consecutive days, and may end that losing streak today. North American futures are slightly higher to neutral, indicating that markets will open relatively flat but with a positive tone this morning. Gold and crude oil prices are edging up, which should support the Toronto market.

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Wednesday's small-cap stocks to watch

Seres Lu

Our roundup of Canadian small-caps of between $100-million and $2.5-billion in market capitalization making news and on the move today.

Extendicare Inc. (EXE-T) has acknowledged that Oxford Park Group has indeed acquired a 5 per cent interest in the company. At Oxford's request, on July 14, management of Extendicare met briefly with the principals of Oxford. Oxford is focused on alternative and special situations investments in companies it deems over or undervalued, and sees Extendicare as the latter. At the meeting, Oxford expressed its desire to work with management and the Board of Directors of Extendicare to enhance shareholder value.

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Before the bell: Buckle up for a rough day in markets

Jennifer Dowty

Jennifer Dowty, Chartered Financial Analyst, writes exclusively for Globe Unlimited subscribers. The Before the Bell report is updated throughout the premarket to reflect latest developments.

Good Wednesday morning to you. Well, it is going to be an unpleasant start to your morning in equity markets. North American futures are down with markets expected to open lower. 

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Here's why investors should hold off buying CN Rail after its earnings beat

Jennifer Dowty

Canadian National Railway reported better-than-expected second-quarter earnings after the bell Monday night, and shares are up 1.5 per cent in early Tuesday trading on the TSX. However, investors should be cautious in buying the stock.

Financial Results

Revenues were $3.125 billion, relatively in-line with the consensus estimate of $3.129 billion. Operating income increased 8 per cent year-over-year to $1.362 billion, and adjusted earnings per share came in at $1.15, well above the consensus estimate of $1.05, with 12 per cent year-over-year earnings growth. Also positive was that management re-affirmed its guidance for double-digit earnings growth for 2015 despite weakness in the energy sector, difficult year-over-year comparisons, and sluggish economic growth in Canada.

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