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Market Wrap: pre-opening session |
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U.S. market futures trade mixed. On Wednesday, the Dow Jones marked a record closing level for the third consecutive session, as it advanced 263 points (+0.49%) to 54,349.
On the other hand, the S&P 500 slipped 12 points (-0.17%) to 7,723, and the Nasdaq 100 declined 245 points (-0.83%) to 29,487.
On the stat front, in the U.S., weekly initial jobless claims are expected at 199,000.
European indices are mostly higher. On the stat plan, in Germany, factory orders rose 3.1% month-on-month in June, versus +0.4% expected, after increasing 1.9% in May.
Asian indices were mixed. Both Japan's Nikkei 225 and South Korea's Kospi underperformed, hurt by tech stocks.
WTI crude oil prices hover around 75 dollars.
Gold is flat after popping 5.05% yesterday, its biggest daily increase since February.
Bitcoin is little changed around 64,000 dollars.
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SpaceX (SPCX), a space company, slightly rebounds after losing more than 13% yesterday. Today marks the expiration of insider lock-up restrictions, enabling them to sell a portion of their shares.
AppLovin (APP), a marketing platform, plunges as current quarter guidance missed expectations. Software companies such as Oracle (ORCL) or Salesforce.com (CRM) lose ground following that release.
Sandisk (SNDK), a memory chip maker, drops as current quarter sales guidance somewhat underwhelmed investors.
Western Digital (WDC), a developer of data storage solutions, tumbles as current quarter guidance disappointed investors.
Moderna (MRNA), a biotech, jumps after receiving U.S. FDA approval for its flu vaccine.
DoorDash (DASH), a food delivery company, loses some ground as quarterly earnings came in line with estimates.
Zillow Group (ZG), an online real estate marketplace, slides after appointing Jeremy Hofmann, current CFO, to an expanded role as chief operating officer & chief financial officer. Separately, the company posted better-than-expected quarterly financial figures.
Duolingo (DUOL), a mobile learning platform, tumbles as current quarter sales guidance missed expectations.
Figma (FIG), a collaborative design platform, plunges as full-year adjusted operating income guidance missed estimates.
Bumble (BMBL), a dating app, drops after posting an unexpected quarterly loss.
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ConocoPhillips (COP)
Parker Hannifin Corp (PH)
Howmet Aerospace Inc (HWM)
Cloudflare Inc (NET)
Datadog Inc (DDOG)
Constellation Energy Corp (CEG)
Monster Beverage Corp (MNST)
Airbnb Inc (ABNB)
Warner Bros. Discovery Inc (WBD)
Republic Services Inc (RSG)
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Earnings Release:
Canadian Natural Resources Ltd (CNQ)
Wheaton Precious Metals Corp (WPM)
Sun Life Financial Inc (SLF)
BCE Inc (BCE)
Lundin Gold Inc (LUG)
Keyera Corp (KEY)
Saputo Inc (SAP)
Atkinsrealis Group Inc (ATRL)
Quebecor Inc (QBR.B)
IAMGOLD Corp (IMG)
On Wednesday, the S&P/TSX Composite Index rose 0.96% to 36,146 and the S&P/TSX 60 Index climbed 1.00% to 2,131.
Restaurant Brands International (QSR), a fast food holding company, unveiled quarterly adjusted EPS up to 1.07 dollar, slightly above estimates, from 0.94 dollar a year earlier. Sales rose to 2.52 billion dollars, in line with expectations, from 2.41 billion dollars a year ago.
Suncor Energy (SU), an energy company, "announced plans for Rich Kruger, current President and Chief Executive Officer, to transition to the role of Executive Vice Chair in April 2027. Peter Zebedee, currently Executive Vice President Upstream, will be named President and Chief Executive Officer concurrent with Rich assuming his new role".
Celestica (CLS), a global leader in data center infrastructure and advanced technology solutions, announced "an equity offering totaling 3 billion dollars to accelerate growth across global AI infrastructure".
Nutrien (NTR), a fertilizer company, reported quarterly adjusted EPS down to 2.61 dollars, slightly below estimates, from 2.65 dollars a year earlier. The company raised the lower end of its annual potash sales volume guidance to 14.2 million tonnes from 14.1 million tonnes, while maintaining the upper end at 14.8 million tonnes.
Canadian Natural Resources (CNQ), a crude oil and natural gas producer, unveiled quarterly adjusted EPS up to 2.19 dollars, topping expectations, from 1.17 dollar a year ago.
Manulife Financial (MFC), a financial services company, posted quarterly adjusted EPS up 16% to 1.09 dollar, just above estimates. Earnings benefited partly from a strong performance in Asia.
Premium Brands (PBH), a food company, unveiled quarterly adjusted EPS up 17.7% to 1.53 dollar, slightly below estimates, on sales up 26.3% to 2.4 billion dollars, slightly above expectations. The company "revised 2026 sales and adjusted Ebitda guidance ranges based mainly on delays in certain new product launches including a customer's decision to push several large promotions planned to be launched in the second half of 2026 out to early 2027".
Cascades (CAS), a producer, converter and marketer of packaging and tissue products, reported quarterly adjusted EPS up to 0.24 dollar from 0.19 dollar a year earlier on sales up to 1.22 billion dollars from 1.19 billion dollars a year ago. Both figures beat expectations.
BCE (BCE), a communication services company, posted quarterly adjusted EPS up 3.2% to 0.65 dollar on sales up 1.5% to 6.18 billion dollars. The company confirmed 2026 financial targets.
Quebecor (QBR/B), a telecom and media company, unveiled quarterly adjusted Ebitda up 3.7% to 627.4 million dollars. Sales increased 4.3% to 1.44 billion dollars, topping expectations.
ATS (ATS), an automation solutions provider, reported quarterly adjusted EPS down to 0.35 dollar from 0.41 dollar a year earlier on sales down to 693.7 million dollars from 736.7 million dollars a year ago. Both figures missed estimates.
Lundin Mining (LUN), a mining company, unveiled quarterly adjusted Ebitda up to 658.0 million dollars from 376.5 million dollars a year ago. The company said that "notwithstanding the impact of the severe winter storm, it anticipates 2026 consolidated production and cash cost to fall within the annual guidance ranges. Annual expansionary capital expenditure guidance has been updated from 50 million dollars to 85 million dollars to reflect the sanctioning of the ball mill construction at Chapada."
Stella-Jones (SJ), a producer of industrial pressure-treated wood products, posted quarterly Ebitda margin down to 16.0% from 18.3% a year earlier. Sales were slightly up to 1.042 billion dollars, yet below estimates, from 1.034 billion dollars a year ago. The company "expects margin performance to improve in the second half of the year."
Strathcona Resources (SCR), an energy company, reported quarterly operating income up 94% to 376 million dollars. "The midpoint of Strathcona’s 2026 production guidance is unchanged, with the range tightened to 122 to 128 Mbbls/d from 120 to 130 Mbbls/d previously."
Keyera (KEY), an energy infrastructure company, unveiled quarterly adjusted Ebitda up to 267 million dollars from 252 million dollars a year earlier. The company increased quarterly dividend by 4.17% to 0.56 dollar per share.
Finning International (FTT), a Caterpillar construction equipment dealer, posted quarterly adjusted EPS up 21% to 1.22 dollar on sales up 20% to 3.13 billion dollars. Both figures topped expectations.
WSP Global (WSP), an engineering services firm, raised full-year guidance regarding net revenue and adjusted Ebitda after unveiling quarterly financial figures that beat estimates.
Enerflex (EFX), a provider of modular natural gas, power technology and treated water solutions, posted quarterly adjusted Ebitda down to 128 million dollars from 130 million dollars a year earlier. Sales fell to 582 million dollars, missing expectations, from 615 million dollars a year ago.
Element Fleet Management (EFN), a fleet management group, reported quarterly adjusted EPS up 12% to 0.34 dollar on sales up 9% to 316.6 million dollars. However both figures missed estimates. The company confirmed full-year guidance ranges. Element said it expects "to reduce the employee count by 8%, resulting in approximately 20 million dollars of annualized expense run-rate savings in 2027".
Ero Copper (ERO), a mining company, posted quarterly adjusted Ebitda up to 144.0 million dollars, yet missing expectations, from 82.7 million dollars a year earlier. sales rose to 284.3 million dollars, beating estimates, from 163.5 million dollars a year ago. The company confirmed full-year copper production guidance.
Equinox Gold (EQX), a mining company, unveiled quarterly adjusted EPS up to 0.16 dollar from 0.09 dollar a year earlier on sales up to 769.8 million dollars from 285.8 million dollars a year ago. However both figures missed expectations. The company increased quarterly dividend by 50% to 0.0225 dollar per share.
Curaleaf (CURA), a cannabis specialist, reported quarterly net income of 12.5 million dollars vs a net loss of 53.2 million dollars a year earlier. Sales rose 10% to 340.1 million dollars, beating estimates.
Savaria (SIS), one of the global leaders in the accessibility industry, posted quarterly adjusted Ebitda up 10.7% to 51.76 million dollars on sales up 8.4% to 245.78 million dollars. Both figures topped expectations.
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