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TC Energy (DOG)


Upset about paying $1 more for a carton of eggs? Well, you’re getting off easy compared with the crushing inflation TC Energy is facing at its Coastal GasLink project. Hit by higher labour costs, skilled worker shortages, environmental protests and construction delays, the price tag for the pipeline in northern British Columbia is now expected to soar to about $14.5-billion, up from a revised estimate of $11.2-billion last summer and an initial budget of $6.6-billion. And then, of course, you have to factor in the rising cost of eggs served for breakfast at TC Energy’s remote worker lodges. “Yeah, gimme another six-egg omelette, please.”

A.O. Smith (STAR)


Imagine a world without hot water. Taking a bath or shower would be torture. Coffee wouldn’t taste the same. Outdoor hot tubs would freeze over, trapping drunk people in the ice. Thanks to A.O. Smith, we don’t have to worry about any of that. Shares of the commercial and residential water heater manufacturer surged after it reported record sales of US$3.8-billion in 2022, up 6 per cent from a year earlier, driven by inflation-related price increases. With fourth-quarter adjusted earnings also beating estimates, A.O. Smith is giving investors are a very warm feeling indeed.

Meta Platforms (STAR)

META - Nasdaq

We can all stop feeling sorry for Mark Zuckerberg now. With shares of Facebook owner Meta Platforms tumbling 64 per cent last year as digital advertising slowed, Meta’s CEO suffered a roughly US$80-billion hit to his personal fortune. But the stock has since staged a remarkable comeback. This week, Mr. Zuckerberg vowed that 2023 will be the “Year of Efficiency,” and the company made good on that pledge by slashing projected spending by US$5-billion and boosting its stock buyback by US$40-billion. Adding to investors’ cheer, the company projected first-quarter revenue above analysts’ expectations, helped by its Reels short-form videos. Couldn’t happen to a nicer guy.

Reitmans (STAR)


Wait. Reitmans still exists? Yup, and here’s the really crazy part: The company is crushing it. After taking shelter under the Companies’ Creditors Arrangement Act early in the pandemic, the clothing retailer closed more than 150 stores, restructured its finances and revamped its branding and product offerings. Now, having emerged from CCAA in January, 2022, its sales are on a roll. For the nine months ended Oct. 29, Reitmans – which also owns Penningtons and RW & Co. – posted revenue growth of 24.8 per cent as earnings jumped 9.4 per cent. With the stock more than tripling over the past six months, Reitmans is suddenly back in fashion with investors.



Shopify, Microsoft, Intel, Apple – most technology stocks have had a rough go since the pandemic-related boom went bust in late 2021. But you won’t hear any complaints from CGI investors. Shares of the Montreal-based business technology and consulting firm jumped after it posted fiscal first-quarter revenue of $3.45-billion, up 11.6 per cent from a year earlier, as earnings per share rose 7.4 per cent to $1.60. With CGI among the few tech stocks to have risen in the past year thanks to resilient earnings from its government and business clients, shareholders have avoided the tech wreck.

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