In the markets: Markets Waver On Middle East Attacks
Plus: SpinMaster taps new CEO; Kroger closes stores; Alibaba merging businesses.
Canada Stock Digest - June 23, 2025
Market Overview
S&P/TSX Composite Index: Closed at 26,609.65 CAD, up 220.65 points or 0.84% for the day.
S&P/TSX Venture Composite Index: Closed at 714.05 CAD, up 6.64 points or 0.94% for the day.
NASDAQ Composite: Closed at 19,428.05 USD, up 185.44 points or 0.96% for the day.
Dow Jones Industrial Average (DJIA): Closed at 42,260.79 USD, down 44.69 points or 0.11% for the day.
S&P 500: Closed at 5,978.63 USD, up 42.69 points or 0.72% for the day.
Stock & Market News
Premarket: Oil Gains and Global Stocks Slip After U.S. Strikes: Oil prices rose while global equities retreated following U.S. military strikes against Iran-linked targets. The Globe and Mail
Dow Sags as Oil Soars and Iran Tensions Rattle Investors: U.S. stock markets turned lower amid rising oil prices and concerns over Mideast escalation. CNN
Markets Waver on Oil, Fed Signals; Investors Monitor Mideast Risks: U.S. equities were mixed as markets digested global volatility and central bank cues. CNBC
Analyst Upgrades and Downgrades: Monday’s analyst activity featured bullish calls on MDA, Keyera, AGF, Skeena, Lithium Royalty, Primaris REIT, and Aya Gold. Desjardins raised MDA’s target to $40 after a plant tour revealed strong satellite demand and dismissed rumours of a York Space acquisition. Keyera received multiple price target hikes—RBC to $53, CIBC to $56, Scotia to $54—following its $5.15B acquisition of Plains’ Canadian NGL business, which analysts said could drive up to 18% distributable cash flow per share growth. AGF’s solid Q1 led Scotia to raise its target to $14, seeing resilience despite market volatility. RBC lifted Skeena’s target to $26, praising early work at its Eskay Creek mine and signalling takeout potential. Citi reiterated a “buy” on Lithium Royalty, though warned about depressed lithium prices and the need for U.S. policy support. Desjardins and CIBC praised Primaris’ Lime Ridge Mall acquisition, while Scotia trimmed Aya Gold’s target to $18.50 but maintained an “outperform” on silver growth potential. The Globe and Mail
Tech Leaders Ready Launch of Canadian Social Media Platform “Gander”: A group of Canadian tech founders are preparing to launch a new social media platform called Gander, aiming to offer a homegrown alternative. The Globe and Mail
Kroger to Close Scores of Stores, Shaking Up Grocery Landscape: Kroger plans to shutter numerous underperforming locations as part of a strategic shift towards e-commerce. CNN
Cloud Vendor Vultr Raises $300 Million in Debt to Fuel Expansion: Vultr secured significant financing from Bank of America, Citi, and Goldman to scale its cloud infrastructure. CNBC
Spin Master Names Christina Miller as Next Chief Executive: The toy company promoted board member Christina Miller to CEO as it navigates market and tariff pressures. The Canadian Press
Novo Nordisk Shares Fall as Obesity Pipeline Comes Under Scrutiny: The drugmaker’s stock dipped after investors raised concerns about its obesity treatment development plans. Reuters
Hudson’s Bay to Seek Approval for Sale of Three Leases to B.C. Mall Owner: The retailer is planning asset sales as part of a restructuring strategy amid ongoing turnaround efforts. BNN Bloomberg
Stellantis’ New CEO Makes Small Management Changes, Shares Fall: The automaker’s share price declined following leadership tweaks by its incoming chief executive. BNN Bloomberg
Snowcap Compute Raises $23 Million for Superconducting AI Chips: A startup focusing on AI hardware development secured substantial funding for next-gen superconducting chip tech. BNN Bloomberg
Alibaba to Merge Food Delivery and Travel Service into Core E-Commerce Business: The Chinese tech giant is consolidating its platforms to streamline operations and boost profitability. BNN Bloomberg
Economic News
Oil Prices Jump After U.S. Strikes on Iran, Raising Supply Risk: Brent crude surged amid rising fears of Mideast supply disruption following U.S. military action. CNBC
World News & Politics
Record Heat Dome Traps Millions Across Western Canada: A severe heat dome is baking parts of British Columbia, Alberta, and Saskatchewan, raising health and wildfire concerns. CBC
EU and Canada Prepare to Sign Security Pact Ahead of NATO Summit: Leaders are close to formalizing a defense and security agreement aimed at strengthening transatlantic cooperation. Bloomberg
NATO Agrees to 5% Defense Spending Target Ahead of Summit: Member countries committed to raising military contributions to 5% of GDP as part of upcoming NATO discussions. The Deep Dive
Iran’s Promise of Payback Keeps World Powers, Markets on Edge: Ongoing threats of Iranian retaliation have global investors wary of potential energy market and geopolitical fallout. Bloomberg
Economic Events
Tuesday Inflation Rate
Friday GDP
Recent Earnings
TSX
There are no earnings to report today.
US Markets
There are no earnings to report today.
Fun Fact
🧊 Did you know that you can’t burp in space the same way you do on Earth? That’s because in zero gravity, gas and liquids don’t separate in your stomach like they do here. On Earth, gravity keeps your stomach contents in place, allowing gas to rise and escape as a burp. But in microgravity, gas stays mixed with the food and liquid in your stomach—so trying to burp might lead to an accidental “wet burp” (yep, that means vomit). Astronauts have to be extra careful with digestion up there, proving that even burping becomes rocket science in space!
Investment Tip
💸Cash burn rate is the heartbeat of early-stage and high-growth companies. It shows how quickly a business is spending its cash reserves—crucial for judging runway and survival. Expert investors calculate burn rate monthly or quarterly and compare it to cash on hand to estimate how long the company can operate without raising more funds. If burn is too high and cash is tight, it’s a red flag. It’s like watching fuel drain from a tank—you want to know exactly when the car might stall.
Have a great trading day! 😊
Disclaimer: The information provided in this newsletter is for educational purposes only and does not constitute financial advice. Always consult with a financial advisor before making investment decisions.