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The Week of February 12th to February 18th, 2018 “A Brief Look Back into Tomorrow”

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The Week of February 12th to February 18th, 2018 “A Brief Look Back into Tomorrow”

 

 

 

 

 

The new trading week began on Monday, February 12th with investors feeling somewhat like Chicken Little after experiencing the previous week’s 5% market correction. To which technical analysts David Tippin & Ron Meisels commented – “The recent sharp decline is a normal, and overdue, corrective move within the bull market.” (For a complete copy of this report please contact Rod.Blake@canaccord.com.)

 

 

 

The Bank of Nova Scotia ‘BNS-T’ announced it was buying Montreal based investment firm Jarislowsky Fraser in a mostly all-cash deal of some $950-million.

 

 

 

The price of Shopify Inc. ‘SHOP-T’ stock rose by 7% to $161.05 after the Ontario Cannabis Retail Corp. chose the e-commerce company as a platform to market cannabis online to its selected stores.

 

 

 

Helios & Matheson Analytics ‘HMNY-N’ shares’ fell by over 13.5% to US$6.65 after their subsidiary MoviePass announced a $2 drop in monthly subscription rates to US$7.95-per-month.

 

 

 

Tuesday, February 13th had mid-tier gold producer IAMGOLD Corp. ‘IMG-T’ report they had increased their 2017 year-end gold reserves by an impressive 86%.

 

 

 

Crystal Rock Holdings ‘CRVP-N’ shares’ surged up by almost 19% to US$0.96 on word that Canadian independent bottler Cott Corp. ‘BCB-T’ was buying the north-east U.S. based water and coffee distributor in an all-cash deal of some US$35-million.

 

 

 

The price of Under Armour ‘UA-N’ rose by 16% to US$15.29 after the clothing company beat the streets’ expectations with its 4th-quarter financials.

 

 

 

Markets quickly rebalanced on Wednesday, February 14th after the U.S. Labor Department announced that their December – January inflation rate rose by a 1-year high of 0.5%.

 

 

 

Ballard Power ‘BLDP’ stock rose by over 5.5% to $4.27 on after the clean technology announced it will supply 500 fuel cell powered commercial trucks to Shanghai, China.

 

 

 

Novo Resources ‘NVO-V’ shares’ surged up by over 17% to $3.57 after the Australian based mineral explorer announced the start of its 2018 exploration season on its highly promising Karratha gold project.

 

 

 

Thursday, February 15th had the Canadian Real Estate Association (CREA) report that the average price on a Canadian home rose by 2.3% in the past year to $481,500.

 

 

 

Amazon.com ‘AMZN-Q’ has come up with an innovative way of dealing with their lees-engaged employees. The giant online store will pay each of them up to $5,000 to leave.

 

 

 

 

Bombardier Inc. ‘BBD.B-T’ shares’ flew up by over 11% to $3.66 after the giant aerospace and commuter train company reported better than expected 4th-quarter financials.

 

 

 

The price of Canadian REIT ‘REF.UN-T’ units surged up by 16% to $50.49 on word the commercial landlord had agreed to be acquired by Choice Property REIT ‘CHP.UN-T’ in an all-cash deal of some $3.9-billion.

 

 

 

Marijuana stocks were generally lower on Friday, February 16th after the Canadian Government acknowledged there may be delays in rolling out the country’s commercial cannabis operations.

 

 

 

Petroleum industry analyst Baker Hughes ‘BHGE-N’ reported that the number of active American drilling rigs remained unchanged last week at 975 active rigs. While further north – the number of Canadian active rigs dropped by 7-rigs to 318 active drilling rigs.

 

 

 

VF Corp. ‘VFC-N’ shares’ fell by 11% to US$74.64 after the maker of Wrangler, The North Face & Timberland clothes reported 4th-quarter financials that missed analysts’ expectations.

 

 

 

The markets traded quietly moving into the U.S Presidents Day and Canadian Family Day long weekends.

 

 

 

During the Week – BRP Inc. ‘DOO-T’ at $53.24, Shopify Inc. ‘SHOP-T’ at $175.99 and VersaBank ‘VB-T’ at $8.07 all reached new TSX 52-week trading highs while Crew Energy ‘CR-T’ at $1.68, Emera Inc. ‘EMA-T’ at $39.08 and Temple Hotels ‘TPH-T’ at $2.81 all fell to new 52-week trading lows.

 

 

 

For the Week – the Dow Industrials rose by 4.25% to 25,219, with the S&P 500 up by 4.30% to 2,732 and the NASDAQ ahead by 5.31% to 7239. Up north – the TSX Composite gained 2.78% to 15,453 and the TSX Venture Exchange improved by 2.09% to 830.

 

 

 

With Commoditiesgold bullion rose by 2.66% to US$1,351, with copper up by 6.93% to US$3.24, as crude oil gained 4.32% to US$61.54 and natural gas was up by 0.68% to US$2.61. Overall, the CRB Spot Commodity Index was 0.91% higher to end the week at 442.

 

 

 

The Canadian dollar improved by 0.25% against its American cousin to finish the week at US$0.7966.

 

 

 

And the closely watched CBOE Volatility Index or VIX dropped by 9.59-points to end the week at a much calmer level of 19.47.

 

 

 

And Finally – The International Energy Agency (IEA) reported that domestic American crude oil production rose by 848,000 barrels-per-day in the 3rd-quarter of 2017 and at this pace it is on track to overtake Saudi Arabia and Russia this year as the world’s largest crude oil producer.

Posted February 20, 2018

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