In the markets: Shopify Stock Moves From NYSE To Nasdaq
Plus: RioCan worried over Hudson's Bay real estate; Tesla removed from Vancouver auto show.
Canada Stock Digest - Mar. 19, 2025
Market Overview
S&P/TSX Composite Index: Closed at 24,697.57 CAD, down 87.54 points or 0.35% for the day.
S&P/TSX Venture Composite Index: Closed at 631.13 CAD, up 0.44 points or 0.07% for the day.
NASDAQ Composite: Closed at 17,507.46 USD, down 301.20 points or 1.69% for the day.
Dow Jones Industrial Average (DJIA): Closed at 41,585.10 USD, down 256.53 points or 0.61% for the day.
S&P 500: Closed at 5,615.37 USD, down 59.75 points or 1.05% for the day.
Stock & Market News
TSX Futures Slightly Up Ahead of Fed Decision: TSX futures are showing a marginal increase as investors await the U.S. Federal Reserve's interest rate decision, with market anticipation building ahead of the announcement. Reuters
European Markets React to Monetary Policy Decisions: Nuanced fluctuations across European stock markets, including the FTSE 100, DAX, and CAC 40, as investors meticulously analyze the immediate and projected impacts of the European Central Bank's latest monetary policy announcements, alongside the release of key economic indicators like inflation rates, GDP figures, and unemployment data, which collectively shape investor sentiment and drive trading activity. CNBC
Analyst Upgrades and Downgrades: Canaccord downgraded RioCan REIT (REI.UN) to "hold" from "buy" and cut its target to $19.50 from $21, citing the impact of Hudson’s Bay’s liquidation. Scotia upgraded Canadian Natural Resources (CNQ) to "sector outperform" from "sector perform," maintaining a $56 target, calling its recent underperformance "overdone." Desjardins downgraded seven Canadian energy stocks, including MEG Energy (MEG) to $26.50 from $29, and Tourmaline Oil (TOU) to $74 from $80, citing a lower oil price forecast. National Bank raised targets for multiple gold stocks, including Agnico Eagle (AEM) to $190 from $160 and Barrick (ABX) to $33 from $27, highlighting cost control and operational improvements. Globe
Alimentation Couche-Tard Reports Strong Third Quarter Earnings: Alimentation Couche-Tard, the parent company of Circle K, announced third-quarter earnings of US$645 million, accompanied by an increase in overall revenues, with analysis of the factors contributing to the strong financial performance. The Canadian Press
Shopify Shares Move to Nasdaq from NYSE: Shopify shares will begin trading on the Nasdaq stock exchange, transitioning from their current listing on the New York Stock Exchange. The Canadian Press
RioCan Addresses Property Exposure Amid HBC Creditor Filing: RioCan outlines its property exposure in the context of Hudson's Bay Company's (HBC) creditor filing, expressing disappointment with the development and detailing the potential impacts on its real estate portfolio. BNN Bloomberg
Tesla Removed from Vancouver Auto Show Amid Display Dispute: Tesla removed from the Vancouver Auto Show, including specific disagreements over display requirements, contractual obligations, or promotional activities. CBC.ca
Ben & Jerry's CEO Faces Lawsuit Over Business Practices: A lawsuit filed against the CEO of Ben & Jerry's includes allegations related to business practices, potential breaches of contract, or disputes with stakeholders, and the anticipated legal proceedings. CNN
Bank of America CEO Optimistic About Economic Growth and Fed Policy: Bank of America's CEO expresses confidence in the strength of economic growth and advocates for the Federal Reserve to maintain its current interest rate policy, citing specific economic indicators and trends. CNBC
Boeing Shares Surge on Positive Cash Flow Outlook: Boeing's stock price increases significantly following the CFO's announcement that the company's cash burn rate is improving, with details on the factors contributing to the improved financial outlook and the company's strategic plans. CNBC
Nvidia CEO Unveils New Rubin AI Chips at GTC 2025: Nvidia CEO Jensen Huang introduced the company's new Rubin AI chips at the GTC 2025 conference, detailing the advanced capabilities and technological innovations of the new chips. The Canadian Press
Economic News
Union Files Lawsuit Against Trump Administration Over Student Loan Plans: A union has filed a lawsuit against the Trump administration, alleging that the shutdown of student loan repayment plans is illegal and detrimental to union members, and outlining the specific legal arguments and demands. CNBC
Judge Blocks Trump Administration's Green Bank Grants Termination: A judge has issued an order preventing the Trump administration from terminating $14 billion in grants allocated to green banks, citing legal concerns and potential harm to renewable energy initiatives. The Canadian Press
Turkish Lira and Stock Market Plunge After Mayor's Arrest: The Turkish lira and Istanbul stock market experience a sharp decline following the arrest of an Istanbul mayor, a political rival to President Erdogan, with investors reacting to the potential political instability and economic implications. CNBC
Bank of Japan Holds Interest Rates Steady in March Meeting: The Bank of Japan announces its decision to maintain current interest rate levels during its March meeting, with details on the central bank's economic outlook and forward guidance. CNBC
World News & Politics
Conservative Reporters Navigate the Campaign Trail: Poilievre won’t have journalists on campaign trail. Experiences and strategies employed by conservative reporters while covering the political campaign trail include challenges faced in accessing information, interviewing candidates, and reporting on campaign events. CBC.ca
Severe Storms and Wildfires Cause Widespread Damage: Reports detail the severe weather events across multiple states, including tornadoes, wildfires, high winds, and blizzards, with specific information on the extent of property damage, power outages, evacuation orders, and the ongoing emergency response efforts by local and federal agencies. CNN
Netanyahu Faces Protests Amid Potential Gaza War Resumption: Growing protests against Israeli Prime Minister Netanyahu as demonstrators express concerns over the government’s handling of the Gaza conflict and reports indicating a potential resumption of hostilities in the region. CNN
Economic Events
Thursday Bank of Canada Macklem Speech
Friday New Housing Price Index/Retail Sales
Recent Earnings
TSX
ALIMENTATION COUCHE-TARD (ATD)
Revenue reported at 30.66B CAD, estimated at 30.38B CAD
EPS reported at 0.96 CAD, estimated at 0.99 CADBOYD GROUP SERVICES INC (BYD)
Revenue reported at 1.08B CAD, estimated at 1.08B CAD
EPS reported at 0.32 CAD, estimated at 0.42 CADORLA MINING LTD NEW (OLA)
Revenue reported at 130.14M CAD, estimated at 133.54M CAD
EPS reported at 0.10 CAD, estimated at 0.10 CAD
US Markets
GENERAL MILLS, INC. (GIS)
Revenue reported at 4.96B USD, estimated at 4.84B USD
EPS reported at 0.96 USD, estimated at 1.00 USD
Fun Fact
🧠 Did you know that your stomach has a "second brain"? Known as the enteric nervous system (ENS), this complex network of over 100 million neurons lines your digestive tract and functions independently from your brain. The ENS controls digestion, regulates gut movement, and even produces neurotransmitters like serotonin, which influences mood and mental health. This gut-brain connection is so strong that scientists believe digestive health can directly affect emotions and cognitive function. That’s why stress, anxiety, or excitement can sometimes cause stomach issues—it’s literally your gut thinking for itself!
Investment Tip
🏇Investing in companies with a history of beating earnings expectations is like betting on an athlete who always outperforms. When a company consistently delivers stronger-than-expected results, it signals strong management, demand, and growth potential. These stocks often attract more investor attention, driving long-term gains. It’s like picking a racehorse that keeps winning—proven, reliable, and built for success.
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.
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