Bond

CN Rail upgraded on rare valuation opportunity

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Canadian National Railway Co.’s 14-per-cent pullback since Feb. 1 and material underperformance versus United states equity indexes have the stock trading below 16x estimated earnings per share for 2016. That’s within the lower 1 / 2 of its three-year historical range along with a significant discount to the S&P 500. This is a rare occurrence, especially in the past 5 ...

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Investors in Russian ETFs are getting whipsawed

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Price swings in the biggest exchange-traded fund tracking Russian stocks surged from the one-year low as investors weighed the prospect of prolonged international sanctions against a better economic outlook. Thirty-day historical volatility on the market Vectors Russia ETF jumped to 31 percent last week after bottoming out at 21 per cent on May 29. The price increased 0.8 per cent ...

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Sun Life Financial Inc upgraded to outperform

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Sun Life Financial Inc. was upgraded to outperform from sector perform at RBC Capital Markets awaiting higher returns on equity, improved earnings power and further growth driven by its Asian and wealth-management businesses. Analyst Darko Mihelic, who also raised his price target around the stock to $46 from $44, believes these fundamental drivers are not reflected in Sun Life’s current ...

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Investors beware: Bubbling tech sector now rife with risk

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Investors have apparently forgotten that they have suffered through two severe downturns previously 15 years. Driven by easy money from global central banks through quantitative easing and persistently low interest rates, and buoyed by strong returns in equity markets like the U.S. and even Canada, investors are hungrily gobbling up any shiny new object which comes online. Making it pay: ...

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Cineplex Inc downgraded on weak box office data

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Despite what was considered a powerful offering of spring box office titles such as Furious 7 and Avengers: Age of Ultron, the second-quarter movie season appears to be falling lacking expectations. This prompted Canaccord Genuity to downgrade Cineplex Inc. to hold from buy and analyst Aravinda Galappatthige cut his price target around the stock to $49 from $52. Galappatthige checked ...

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Weak loonie, U.S. economy not enough to boost Canadian manufacturing

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The manufacturing renaissance that the Bank of Canada had envisioned doesn’t seem to be materializing anytime soon. Even having a weak Canadian dollar along with a hot U.S. economy, Statistics Canada said Monday that factory sales in April fell 2.1 percent to $49.8 billion, falling short of the 0.5 per cent decline economists had been expecting The decline was the ...

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It’s stocks over cars in China

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The rally in mainland China-listed A shares seems to be having a negative impact on the country’s auto market because the general public seems to prefer the equity sell to putting their cash into a depreciating asset such as a car. Nick Lai, head of Asia Auto Research at J.P. Morgan, admitted that it’s difficult to quantify this takeaway from ...

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Stalled Greek debt talks send markets lower; Dow suffered triple-digit loss

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TORONTO – Stock markets on sides of the Atlantic turned solidly lower Friday as renewed fears over a possible Greek debt default and its knock-on effects around the euro and also the world economy sent traders scrambling for the exits. In Toronto, the S&P/TSX composite index closed down 89.73 points at 14,741.15, with energy and financial issues one of the ...

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Does Goldcorp Inc have some M&A in the works?

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Goldcorp Inc. may be cleaning up its balance sheet by using the roughly $950 million in proceeds it caused by selling its 25 per cent stake in Tahoe Resources Inc., but that hasn’t quelled M&A speculation. Investors are worried about the miner’s leverage, therefore the potential for major acquisitions is something the market is watching closely. This helped make Goldcorp ...

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Valeant Pharmaceuticals International Inc in advanced talks to buy Amoun Pharmaceutical Co: sources

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Valeant Pharmaceuticals International Inc. is in advanced negotiations to acquire Egyptian drugmaker Amoun Pharmaceutical Co. because it seeks to expand into emerging markets, based on people with understanding of the matter. The drugmaker, located in Laval, Quebec, may reach a contract with Amoun\’s shareholders in the coming weeks, the folks said, asking not to be identified as the information is ...

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