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Market Wrap: pre-opening session |
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U.S. market futures gain some ground before the release of U.S. jobs report. On Thursday, major U.S. stock indexes closed in the red, with the Dow Jones retreating 464 points (-0.85%) to 53,885 and ending a five-session rally.
The S&P 500 slipped 13 points (-0.18%) to 7,709, and the Nasdaq 100 was down 114 points (-0.39%) to 29,373.
On the stat front, in the U.S., nonfarm payrolls are estimated to increase by 80,000 in July, while jobless rate is expected to be steady at 4.2%.
Canada's employment is estimated to increase by 21,000 in July, while jobless rate is anticipated to be unchanged at 6.5%.
European indices trade green. The Euro Stoxx 50 index posted a new record high. On the stat plan, in Germany, industrial production rose 0.2% month-on-month in June, versus +0.1% expected, after increasing 0.9% a month earlier. Still in Germany, trade surplus narrowed to 15.4 billion euros in June from 19.3 billion euros in May (revised from 19.1 billion euros), compared with expectations for a surplus of 17.4 billion euros. Exports increased 0.9%, matching the pace recorded a month earlier, while imports rose 4.4%, after declining 2.6% the previous month. In France, the unemployment rate came in at 8.3% in the second quarter, versus 8.2% expected, after 8.1% in the previous quarter.
Asian indices were mixed. Regarding stats, Japan's household spending fell 3.3% year-on-year in June, compared with +1.0% expected. Separately, China's exports rose 23.9% year-on-year in July, above 22.2% expected, and imports increased 27.5%, below 27.9% estimated.
WTI crude oil prices consolidate around 77 dollars. They rebounded yesterday amid concerns about supply disruptions after Iran unveiled a restrictive draft plan for the Strait of Hormuz.
Gold is well oriented, set for its best week since January.
Bitcoin rebounds, trading close to 65,000 dollars.
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Microchip Technology (MCHP), a designer of microprocessors, jumps as current quarter guidance topped expectations.
Airbnb (ABNB), a home rental platform, strongly rises on better-than-expected quarterly financial figures.
Lyft (LYFT), a ridesharing company, is flat as quarterly sales slightly beat estimates. However adjusted EPS missed expectations.
DraftKings (DKNG), a sports betting company, loses ground as quarterly financial figures missed expectations. However the company confirmed full-year guidance regarding adjusted Ebitda and sales.
Twilio (TWLO), a cloud company, surges as current quarter guidance beat estimates. Also, the company raised full-year forecast regarding revenue growth.
Trade Desk (TTD), an advertising technology company, tanks as quarterly financial figures missed estimates.
Akamai Technologies (AKAM), an operator of a global content delivery network, soars as quarterly financial figures topped expectations.
Cloudflare (NET), a cybersecurity company, surges on strong guidance.
Dropbox (DBX), a smart workspace, falls as quarterly gross margin disappointed investors.
First Solar (FSLR) and other solar stocks gain ground as the White House unveils new trade measures to counter China in solar and chips.
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Vistra Corp (VST)
Take-Two Interactive Software Inc (TTWO)
PPL Corp (PPL)
Plains All American Pipeline LP (PAA)
Riot Platforms Inc (RIOT)
Oklo Inc (OKLO)
Fluor Corp (FLR)
Construction Partners Inc (ROAD)
ACM Research Inc (ACMR)
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Earnings release:
Emera Inc (EMA)
MDA Space Ltd (MDA)
On Thursday, the S&P/TSX Composite Index eased 0.03% to 36,136, while the S&P/TSX 60 Index was slightly up 0.05% to 2,132.
Wheaton Precious Metals (WPM), a mining company, reported quarterly adjusted EPS up 89.7% to 1.20 dollar on sales up 84.7% to 929.2 million dollars. The company confirmed full-year production guidance.
IAMGOLD (IMG), a gold producer, posted quarterly adjusted EPS up to 0.42 dollar from 0.13 dollar a year earlier, yet missing estimates.
B2Gold (BTO), a gold producer, unveiled quarterly adjusted EPS down to 0.03 dollar, below expectations, from 0.12 dollar a year ago. Consolidated gold production for 2026 is now expected to be between 820,000 and 920,000 ounces (previously between 820,000 and 970,000 ounces).
Torex Gold (TXG), a gold producer, reported quarterly adjusted Ebitda up to 203.5 million dollars from 117.7 million dollars a year earlier on sales up to 406.9 million dollars from 253.9 million dollars a year ago. Target price was cut to 95 dollars from 105 dollars at Scotiabank.
Lundin Gold (LUG), a gold producer, posted quarterly adjusted Ebitda up to 346.7 million dollars from 318.8 million dollars a year earlier on sales up to 477.7 million dollars from 452.9 million dollars a year ago. The company confirmed full-year production guidance saying that "production and sales are anticipated to be stronger in the second half of 2026 as mining advances into higher grade areas of the deposit."
Sun Life Financial (SLF), a financial services company, unveiled quarterly adjusted EPS up to 2.02 dollars, above estimates, from 1.79 dollar a year earlier. Separately, the company "announced that Scott Powers will retire as chair and from its Board of Directors upon completing his full term of service following the company's annual meeting on May 5, 2027. Upon his re-election at the annual meeting, Joseph Natale will succeed Mr. Powers as chair. Mr. Natale has been a Sun Life director since February 2023 and currently chairs the Management Resource Committee and is a member of the Risk Committee."
Canaccord Genuity (CF), a financial services company, reported quarterly adjusted EPS up to 0.36 dollar, beating expectations, from 0.13 dollar a year ago.
MDA Space (MDA), a provider of advanced space technologies, unveiled quarterly adjusted Ebitda up 26.2% to 96.3 million dollars on sales up 33.6% to 498.6 million dollars. Both figures were better than expected. The company narrowed 2026 revenue outlook to 1.8 - 1.9 billion dollars, compared to 1.7 - 1.9 billion dollars previously and narrowed adjusted Ebitda forecast to 330 - 370 million dollars, compared to 320 - 370 million dollars previously.
Emera (EMA), an energy supplier, reported quarterly adjusted EPS down to 0.69 dollar from 0.79 dollar a year earlier. The company said it is "positioned to achieve 2026 adjusted EPS growth above the annual target range of 5-7% and remain committed to 5-7% adjusted EPS growth through 2030".
Altus Group (AIF), a leading provider of asset and fund intelligence for commercial real estate, posted quarterly adjusted Ebitda up 33.8% to 29.6 million dollars on sales up 6.0% to 112.7 million dollars. Both figures topped estimates.
Goeasy (GSY), a non-prime consumer lender, unveiled quarterly adjusted EPS down to 1.02 dollar from 4.40 dollars a year earlier. However, investors anticipated a loss. Sales fell 10% to 390 million dollars.
Saputo (SAP), a dairy processor, reported quarterly adjusted Ebitda up to 427 million dollars from 397 million dollars a year ago. Sales rose to 4.42 billion dollars, slightly above expectations, from 4.36 billion dollars a year earlier. The company increased quarterly dividend by 5% to 0.21 dollar per share. Also, "the Company expects to continue actively repurchasing shares, supported by the strength of its balance sheet".
Superior Plus (SPB), a retail propane distribution company, posted quarterly adjusted Ebitda up 10% to 36.8 million dollars. Sales rose 3% to 435.4 million dollars, beating estimates.
NFI Group (NFI), a leading independent bus and coach manufacturer and a leader in electric mass mobility solutions, unveiled quarterly adjusted EPS up to 0.23 dollar, matching expectations, from 0.09 dollar a year ago. Also, sales rose to 1.03 billion dollars, topping estimates, from 868.2 million dollars a year earlier. The company lifted full-year guidance for both sales and adjusted Ebitda.
Wajax (WJX), a provider of industrial products and services, reported quarterly sales down 5.7% to 515.7 million dollars, missing estimates. Gross profit margin improved to 20.9% from 19.1% a year ago.
Ensign Energy Services (ESI), an oilfield services provider, unveiled quarterly adjusted Ebitda up 6% to 85.83 million dollars on sales up 7% to 397.3 million dollars.
CES Energy Solutions (CEU), a provider of technically advanced consumable chemical solutions throughout an oilfield's life cycle, posted quarterly adjusted Ebitdac up 35% to 119.2 million dollars. Sales rose 24% to 714.1 million dollars, topping expectations.
Algonquin Power (AQN), a renewable energy specialist, reported quarterly adjusted EPS flat at 0.04 dollar.
Interfor (IFP), a forest products company, unveiled quarterly adjusted Ebitda up to 92.3 million dollars from 17.2 million dollars a year earlier on sales up to 804.4 million dollars from 780.5 million dollars a year ago. Both figures beat estimates.
Well Health (WELL), a healthcare provider, lifted full-year guidance regarding sales and adjusted Ebitda.
TerrAscend (TSND), a cannabis operator, reported quarterly adjusted Ebitda up 11% to 17.7 million dollars. Sales rose to 67.1 million dollars, topping expectations, from 65.5 million dollars a year earlier.
Docebo (DCBO), a leading learning platform provider with a foundation in artificial intelligence (AI) and innovation, posted quarterly net income down 26.6% to 2.26 million dollars. Also, sales rose 13% to 68.7 million dollars, slightly above estimates.
Open Text (OTEX)'s, an enterprise information management software developer, target price was cut to 33 dollars from 40 dollars at Scotiabank.
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