The Daily Chase: Canadian Tire misses analyst expectations; Linamar finds its footing
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We've got a veritable torrent of earnings to sort through here in Canada as we enter the tail-end of the busiest earnings week on the calendar this quarter.
SLOW START TO SPRING STINGS CANADIAN TIRE
Call it a profit miss and a revenue meet over at Canadian Tire. Adjusted earnings per share (EPS) came in at $1.00 – well shy of the $1.31 estimate – while revenue was bang in line at $3.71 billion. The company is blaming a couple of factors, namely a delayed start to spring sort of muddying the waters, with consumers pulling back on both spending for that season and the winter as they were unsure of whether they needed rain or snow boots. Same store sales at the flagship Canadian Tire banner were down 4.8 per cent, which isn't great, and the company did note that there was a $67.7 million hit from that fire at its distribution facility in Brampton, Ont.
EARNINGS NEARLY DOUBLED AT LINAMAR AS SUPPLY CHAINS RECOVER
Canada’s federally backed farm lender is offering financial aid to farmers, agricultural businesses and food companies hit by the spike in fertilizer and energy prices, it said on Friday.
Jay Allen is a fan of U.S. President Donald Trump, and voted for him on the belief that the Republican would cut taxes and trim regulations, helping his manufacturing business in northeast Arkansas.
Another climb for oil prices sent the U.S. stock market sharply lower, as hopes collapsed for a possible cut to interest rates by the Federal Reserve.
Global oil prices will continue to rise as the war in the Middle East continues and the Strait of Hormuz remains inaccessible, according to an energy expert.
Global oil prices will continue to rise as the war in the Middle East continues and the Strait of Hormuz remains inaccessible, according to an energy expert.
Facing a $1.4 billion deficit shortfall, the provincial government says its large-animal vet service will be privatized over the next three years.
Facing a $1.4 billion deficit shortfall, the provincial government says its large-animal vet service will be privatized over the next three years.
Jurors wade through daunting evidence in high-stakes Meta trial about social media risks to children
A stream of testimony and evidence has been presented in a New Mexico case exploring what Meta knew about the effects of its platforms on children.
Markets in Canada and the U.S. continued to trade lower while oil went up late morning on Friday as inflationary fears prevailed among investors.
Gold prices fell by 1.8 per cent on Friday as the dollar strengthened on a report that the United States will deploy extra troops in the Middle East, fanning concerns of higher oil prices, inflation, and with it, elevated interest rates.
Canada’s federally backed farm lender is offering financial aid to farmers, agricultural businesses and food companies hit by the spike in fertilizer and energy prices, it said on Friday.
Statistics Canada says retail sales were up 1.1 per cent at $70.7 billion in January, led by sales at motor vehicle and parts dealers.
As Qatar reels from an Iranian attack that has hobbled its giant natural gas company, its boss, who doubles as the country’s energy minister, says he had warned officials and executives of just such a danger should Iran’s own sites be hit.