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stars and dogs

Canadian Imperial Bank of Commerce (STAR)

CM - TSX

For years, the joke on Bay Street was that CIBC was “the bank most likely to walk into a sharp object.” Well, it may be time for a new slogan. Shares of Canada’s fifth-biggest bank jumped after it posted better-than-expected fiscal fourth-quarter earnings of $1.48-billion, up about 25 per cent from a year earlier, as retail banking profits rose and provisions for bad loans were lower than anticipated. With CIBC – which has made investments in technology and customer service under CEO Victor Dodig – also raising its dividend by 3.4 per cent, a more appropriate motto might be: “The bank most likely to walk into a big stack o’ cash.”

Victoria’s Secret & Co. (STAR)

VSCO - NYSE

Business quiz! Shares of lingerie retailer Victoria’s Secret rose after the company a) announced a new line of intimate apparel for men, called Vinny’s Secret; b) was acquired by Elon Musk, who plans to merge it with his social media platform X and electric car maker Tesla to create a conglomerate called SeXla; c) swung to a net loss of US$71-million, or 92 U.S. cents a share, and posted a seventh consecutive decline in same-store sales for the quarter ended Oct. 28 – but said revenue and margins in November are the “best monthly performance in nearly two years and further evidence that our initiatives are working.” Answer: c.

Patterson Companies (DOG)

PDCO - Nasdaq

What hurts more than going to the dentist for a root canal? Answer: Investing in dental equipment supplier Patterson Companies. Hit by lower sales of dental technology products and higher operating expenses, the company – which also distributes veterinary supplies – lowered its fiscal 2024 earnings guidance, causing the stock to plunge. With Patterson’s shares languishing near a six-month low as the slowing economy takes a bite out of sales, investors could use a shot of nitrous oxide and some animal tranquilizers to make the pain go away.

First Quantum Minerals (DOG)

FM - TSX

Copper’s chemical symbol is Cu – as in, “Cu later,” which is what investors are saying to shares of First Quantum Minerals. Already down by more than half amid widespread protests against the company’s Cobre Panama copper project, the shares tumbled again this week after Panamanian President Laurentino Cortizo ordered the mine closed. The move came after the country’s Supreme Court ruled that First Quantum’s 20-year contract to operate the mine is unconstitutional. Fortunately, the mine accounts for only 5 per cent of Panama’s gross domestic product and a paltry 1.5 per cent of global copper production. That’s almost nothing.

BRP (DOG)

DOO - TSX

First-world dilemma: Do you go deeper into debt to buy a new Sea-Doo or make do with your 20-year-old canoe? With high interest rates and inflation putting a damper on consumer spending, BRP said revenue for its third quarter ended Oct. 31 fell 8.9 per cent, as sales of its personal watercraft, three-wheeled vehicles and newer pontoon boats fell from a year earlier. “Like the rest of the industry, we have observed softening demand, particularly in international markets,” said José Boisjoli, president and CEO of Quebec-based BRP. Good. The last thing we need is more obnoxious idiots on our lakes.

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Tickers mentioned in this story

Study and track financial data on any traded entity: click to open the full quote page. Data updated as of 04/03/24 4:00pm EST.

SymbolName% changeLast
CM-T
Canadian Imperial Bank of Commerce
+0.08%65.82
VSCO-N
Victorias Secret & Co.
-7.88%26.2
PDCO-Q
Patterson Companies
-0.88%27.11
FM-T
First Quantum Minerals Ltd
+5.89%13.66
DOO-T
Brp Inc
-2.62%87.05

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