Canada’s main stock index hit a record high on Friday, supported by energy stocks and was set to clock its best week since November, offsetting concerns about worse-than-expected domestic jobs data for January.

The S&P/TSX Composite popped 103.57 points to reach noon hour EST at 18,145.54.

The Canadian dollar picked up 0.3 cents to 78.28 cents U.S.

The largest percentage gainer on the TSX was Eldorado Gold, which jumped $1.01, or 6.9%, to $15.76, after signing a revised contract with Greece to govern further development, construction and operation of its Kassandra Mines.

Interfor Corporation rose $1.50, or 5.6%, to $28.03 after reporting strong fourth-quarter results.

Canopy Growth fell $1.23, or 2.2%, the most on the TSX, to $55.10. The second-biggest decliner was Intertape Polymer Group, down 27 cents, or 1.1%, to $23.32.

It’s a busy day on the macroeconomic scene, with Statistics Canada informing us the economy lost 213,000 jobs … Read the rest

Lightspeed POS Inc. (T.LSPD) hit a new 52-week high of $96.62 on Thursday. Lightspeed today announced financial results for the three -month period ended December 31, 2020. Revenue grew 79% year-over-year to $57.6 million, Net loss was $42.7 million as compared to a net loss of $15.8 million in the prior-year quarter.

Blue Sky Uranium Corp. (V.BSK) hit a new 52-week high of 24.5 cents on Thursday. Blue Sky is today’s featured company video with Investmentpitch Media. Blue Sky is recommencing its reverse circulation drilling exploration program at its wholly-owned Amarillo Grande Uranium-Vanadium Project in Argentina, a new uranium district controlled by Blue Sky and located in Rio Negro Province. The Ivana deposit is the cornerstone of the Project and the first part of the district for which both a Mineral Resource Estimate and a Preliminary Economic Assessment have been completed.

Cache Exploration Inc. (V.CAY) hit a new 52-week high … Read the rest

The S&P 500 held steady on Wednesday following a strong two-day rally, as investors digested strong earnings from some of the biggest technology companies.

The Dow Jones Industrials came off their lows of the morning, but were still behind 17.99 points by noon to 30,669.49,

The S&P 500 took on 11.23 points to 3,837.54.

Shares of Google’s parent Alphabet jumped more than 6% after the technology giant reported 23% revenue growth and topped estimates for earnings, boosted by Google’s recovering advertising business.

Amazon reported earnings nearly doubled Wall Street estimates, while delivering its biggest revenue of all time at $125.56 billion, pushing it past the symbolic $100-billion mark for the first time. The ecommerce leader also announced that Jeff Bezos was stepping down as CEO. Amazon’s stock traded 0.4% lower.

Amgen fell 3% — the biggest loser in the blue-chip Dow — after the biotech firm issued a weaker-than-expected full … Read the rest

U.S. stocks jumped on Tuesday, building on a strong rally in the previous session as concerns about a speculative retail trading frenzy continued to ease.

The Dow Jones Industrials hurtled 577.75 points, or 1.9%, to 30,785.45

The S&P 500 gained 64.11 points, or 1.7%, to 3,838.13.

The NASDAQ rose 223.89 points, or 1.7%, to 13,628.71, bringing its week-to-date gains to nearly 4%.

The back-to-back advance on Wall Street coincided with a sharp reversal in GameStop, the video game stock that captivated Wall Street with its massive short squeeze coordinated by a band of retail investors on social media. GameStop, fresh off a 400% rise last week, slid 30% on Monday and fell another 50% Tuesday. The stock has now lost more than half of its value in two days.

Other highly speculative investments popular with the Reddit crowd also started to decline. AMC Entertainment dropped more than 35%. Futures contracts … Read the rest

Stocks stumbled to a negative finish in Toronto, their worst finish since late October, weighed mostly by losses in tech stocks.

The S&P/TSX Composite Index stumbled 320.18 points, or 1.8%, to finish Friday and the week at 17,337.02, a decline on the week of 509 points, or 2.85%.

The Canadian dollar gained 0.29 cents to 78.21 cents U.S.

Tech firms were worst off, with BlackBerry fading 73 cents, or 3.9%, to $18.07, while Sierra Wireless lost 95 cents, or 3.9%, to $23.64.

In consumer discretionary stocks, Ritchie Bros. Auctioneers surrendered $2.31, or 3%, to $75.34, while Sleep Country Canada dozed off $1.07,, or 3.9%, to $26.32.

In the industrial sector, Westshore Terminals Investment Corporation let go of $1.09, or 6.4%, to $15.99, while Air Canada was grounded 99 cents, or 4.7%, to $20.04.

On the economic slate, Statistics Canada reported the economy was on an upward track as 2020 neared … Read the rest



Markit Purchasing Managers Index Manufacturing (Jan.)

Institute for Supply Management manufacturing index (Jan.)

Motor Vehicle Sales (Jan.)

Featured Earnings

Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX) (Q4) EPS projected at $2.33, compared to $1.44 in the prior-year quarter.

NXP Semiconductors N.V. (NASDAQ: NXPI) (Q4) EPS projected at $1.79, compared to $2.16 in the prior-year quarter.

ON Semiconductor Corporation (NASDAQ:ON) (Q4) EPS projected at 28 cents, compared to 30 cents in the prior-year quarter.


Economic lookahead

Markit Manufacturing PMI (Jan.) The Index registered 57.9 in December, up from 55.8 in November, signaling the strongest overall improvement in business conditions since the survey began in October 2010.

Featured Earnings

Calfrac Well Services Ltd. (T.CFW) (Q4) EPS projected for a loss of $7.81, compared for a loss of $17.00 in the prior-year quarter.

Greenbrook TMS Inc. (T.GTMS) (Q4) EPS projected for a loss of nine cents, compared to a loss of seven … Read the rest

Nabis Holdings Inc. (C. NAB) hit a new 52-week high of 55 cents on Friday. Nabis Holdings ratified the appointment of Bruce Langstaff as Executive Chairman and appointed Jared Carroll as the Chair of the Audit Committee of the Board of Directors. Scott Kelly and Jennifer Law were also appointed as members of the Audit Committee.

GlobeX Data Ltd (C.SWIS) hit a new 52-week high of 45 cents on Friday. GlobeX Data has engaged Austria-based Finanzkommunikation GmbH (“IRW”), a media service company, in order to disseminate all of GlobeX’s press releases in German language.

Arbor Metals Corp. (V.ABR) hit a new 52-week high of $2.34 on Friday. No news stories available today.

Cannabix Technologies Inc (C.BLO) hit a new 52-week high of $2.27 on Friday. No news stories available today.

Commerce Resources Corp. (V.CCE) hit a new 52-week high of 48.5 cents on Friday. No news stories available today. … Read the rest

Canada’s main stock index rose on Thursday, after its worst session in three months, driven by gains in materials and energy stocks.

The S&P/TSX Composite Index popped 207.48 points, or 1.2%, to pause for lunch Thursday at 17,631.91.

The Canadian dollar eked up 0.01 cents to 78.03 cents U.S.

The largest percentage gainer on the TSX was First Majestic Silver, which jumped $3.24, or 18.2%, to $21.00. after a media report of the company winning a reprieve on criminal tax fraud charges in a Mexican court hearing.

Rival Fortuna Silver Mines rose 92 cents, or 10.8%, to $9.46.

Blackberry fell 11.12%, or 35.3%, the most on the TSX, shedding some of its recent gains, to $20.37. Two online trading platforms restricted trading in shares of the security software maker and other companies that have seen hefty gains this week due to a social media-driven trading frenzy.

The second-biggest decliner was … Read the rest

The Dow Jones Industrials came off their lows of the morning, but remained negative 327.06 points, or 1.1%, to break for lunch at 30.609.98.

The S&P 500 slipped 57.93 points, or 1.5%, to 3,791.69.

The NASDAQ was in the red 181.66 points, or 1.3%, to 13,444.41.

Boeing fell more than 5% after its earnings report showed 2020 net loss hit a record of $11.9 billion amid the 737 Max grounding and the coronavirus pandemic. Shares of AMD tumbled more than 7% even after the chipmaker posted revenue and earnings that beat Wall Street’s already high expectations.

Intensifying speculative behavior among retail investors is causing concern. Heavily shorted names, including GameStop and AMC Entertainment, continued to be pushed higher by amateur day traders in online chat rooms.

Some investors are worried about mounting losses by hedge funds spilling over to other areas of the market as those funds sell other securities … Read the rest

Baylin Technologies Inc. (T.BYL) hit a new 52-week high of $1.67 on Tuesday. Baylin is issuing this news release in light of unusual trading activity in its common shares on the Toronto Stock Exchange. In light of that activity, the Company was contacted by the Investment Industry Regulatory Organization of Canada (IIROC) in accordance with its usual practice. While the Company does not normally comment on market activity, at the request of IIROC, the Company confirms that it is not aware of any undisclosed material change in its business that would account for the recent increase in the market price and level of trading volume of its common shares.

Draganfly Inc. (C.DFLY) hit a new 52-week high of $3.78 on Tuesday. Draganfly announced that its Vital Intelligence technology, originally developed for drones and now made available on devices like laptops, tablets and smartphones, has been selected by The 517 Group … Read the rest