Canada''s main stock index fell on Friday, as the technology sector echoed a downbeat mood on Wall Street following Amazon''s disappointing forecast. Even so, the index was on track for nine straight months of gains. The S&P/TSX Composite had ditched 83.57 points to pause for noon hour at 21,037.49 The Canadian dollar tumbled 0.3 cents to 78.06 cents U.S. Financials suffered, dragged down by a fall of $1.84, or 13.3%, in shares of NFI Group to $12.03, following a downbeat 2022 forecast. On the earnings front, Imperial Oil rose 12 cents to $64.24, after reporting a first-quarter profit that nearly tripled, while pipeline operator TC Energy fell $2.23, or 3.1%, to $69.44, despite turning a quarterly profit. Magna International fell 24 cents, to $79.68, after the auto parts maker lowered its annual profit forecast on Friday as strict COVID-19 lockdowns in China, rising inflation and raw material costs are set to pressure vehicle sales. On the economic front, StatsCan said the domestic economy most likely grew by 5.6% on an annualized basis in the first quarter, as growth in February beat expectations and real gross domestic product was seen increasing again in March.
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Companies Reporting Before The Bell • Weyerhaeuser (NYSE: WY ) is projected to report quarterly earnings at $1.19 per share on revenue of $2.93 billion. • Magna International (NYSE: MGA ) is estimated to report quarterly earnings at $1.59 per share on revenue of $9.31 billion. • MISTRAS Group (NYSE: MG ) is estimated to report earnings for its first quarter. • TC Energy (NYSE: TRP ) is projected to report quarterly earnings at $1.11 per share on revenue of $3.60 billion. • Professional Holding (NASDAQ: PFHD ) is expected to report quarterly earnings at $0.34 per share on revenue of $19.54 million. • nVent Electric (NYSE: NVT ) is projected to report quarterly earnings at $0.44 per share on revenue of $625.66 million. • Chart Industries (NYSE: GTLS ) is estimated to report quarterly earnings at $0.55 per share on revenue of $354.90 million. • TAL Education (NYSE: TAL ) is estimated to report quarterly loss at $0.12 per share on revenue of $1.33 billion. • W.P. Carey (NYSE: WPC ) is projected to report quarterly earnings at $0.
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TC Energy is looking into the possibility of constructing a hydrogen production hub near a natural gas storage facility in southern Alberta. If the project moves ahead, one of their main customers will be Nikola. […]
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TC Energy (TRP) -1.6% in Monday''s trading as Morgan Stanley downgraded shares to Underweight from Equal Weight with a C$78 price target on relative valuation, after rising nearly 20%
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TORONTO (ICIS)--Canadian energy infrastructure company TC Energy and US electric vehicles (EV) maker Nikola are evaluating plans for a hydrogen production hub at Crossfield, near Calgary in…
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Upgrades According to Susquehanna, the prior rating for Boyd Gaming Corp (NYSE: BYD ) was changed from Neutral to Positive. At the moment, the stock has a 52-week-high of $72.72 and a 52-week-low of $50.38. Boyd Gaming closed at $64.20 at the end of the last trading period. For Hub Group Inc (NASDAQ: HUBG ), Susquehanna upgraded the previous rating of Neutral to Positive. For the fourth quarter, Hub Group had an EPS of $2.48, compared to year-ago quarter EPS of $0.81. The stock has a 52-week-high of $87.20 and a 52-week-low of $60.81. At the end of the last trading period, Hub Group closed at $65.72. According to Susquehanna, the prior rating for Werner Enterprises Inc (NASDAQ: WERN ) was changed from Neutral to Positive. In the fourth quarter, Werner Enterprises showed an EPS of $1.13, compared to $0.89 from the year-ago quarter. At the moment, the stock has a 52-week-high of $49.76 and a 52-week-low of $36.29. Werner Enterprises closed at $39.61 at the end of the last trading period.
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Upgrades Tudor Pickering upgraded the previous rating for EQT Corp (NYSE: EQT ) from Hold to Buy. EQT earned $0.41 in the fourth quarter, compared to $0.02 in the year-ago quarter. At the moment, the stock has a 52-week-high of $38.73 and a 52-week-low of $15.71. EQT closed at $38.31 at the end of the last trading period. For JetBlue Airways Corp (NASDAQ: JBLU ), MKM Partners upgraded the previous rating of Sell to Neutral. JetBlue Airways earned $0.36 in the fourth quarter, compared to $1.53 in the year-ago quarter. The current stock performance of JetBlue Airways shows a 52-week-high of $21.60 and a 52-week-low of $11.37. Moreover, at the end of the last trading period, the closing price was at $11.90. For PPL Corp (NYSE: PPL ), Credit Suisse upgraded the previous rating of Neutral to Outperform. In the fourth quarter, PPL showed an EPS of $0.22, compared to $0.59 from the year-ago quarter. The stock has a 52-week-high of $30.71 and a 52-week-low of $25.27. At the end of the last trading period, PPL closed at $29.11.
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