North American markets climb on solid U.S. jobs data, higher crude prices


TORONTO – United states markets closed higher on the final trading day as oil rose and new jobs data from the U.S. was stronger than anticipated. The S&P/TSX composite index rose 88.85 suggests 13,212.50, as the loonie gained 0.40 of a cent to 75.05 cents US. It was the first time since late November that the loonie closed above 75 ...

Read More »

Management change may be coming at Valeant


Predicting that a management change is probably at Valeant Pharmaceuticals International Inc., CIBC World Markets downgraded the stock to sector underperformer and slashed its cost target to US$24 from US$90. Analyst Prakash Gowd noted that Valeant’s business is weakening because it faces a continuing backlash against its aggressive pricing policies of history. But that’s one of more information on growing ...

Read More »

TSX jumps over 1% as oil prices hit highest level this year


TORONTO – Canada’s largest stock market finished your day having a healthy three-digit gain after crude prices hit their highest level this season. The Toronto Stock Exchange’s S&P/TSX composite index climbed 171.10 points, or about 1.3 per cent, rising to 13,383.60. All sectors except one on the heavily commodity-weighted index were up, with healthcare stocks advancing four percent, accompanied by ...

Read More »

Valeant Pharmaceuticals International Inc analysts even more divided after dramatic selloff


As the dust settled from Tuesday’s devastating 50 per cent selloff in Valeant Pharmaceuticals International Inc., analysts scrambled to reassess the prospects for the company’s shares going forward. And when these were divided before, they’re even more so now. On the low end, CIBC World Markets set a brand new price target of US$24 for the shares traded in New York, ...

Read More »

When you can’t trust the markets, bet on volatility


It may be hard for many of us to remember, but share prices, commodities and other assets used to move on the foundation of the intrinsic value. That hasn’t been the situation for the past eight years, as governments have involved in financial markets like never before. Consequently, markets still move based on where individuals think policymakers will or won’t ...

Read More »

Potential short squeeze at Mainstreet Equity as issuer bid meets large short position


Good luck being short a thinly-traded, fairly-tightly-held stock at the same time because the issuer is starting your substantial issuer bid. But that’s the state of affairs at Mainstreet Equity Corp., which “could be setup for any short squeeze,” based on one market participant.  Mainstreet promises to purchase up to 1.Two million of their shares at $36 a share – a ...

Read More »

North American markets, loonie soars following dovish Fed announcement


TORONTO – A dovish tone within the latest statement from the U.S. Fed sent Toronto and New York stock markets higher Wednesday, as the central bank decided to hold its key interest rate unchanged amid an uncertain global economy. The S&P/TSX composite index climbed 77.82 suggests 13,478.13, aided by rising energy, metal and gold stocks. The loonie spiked against a ...

Read More »

Loonie closes just shy of 77 cents US; TSX soars as benchmark oil hits US$40 a barrel


TORONTO – Enthusiasm within the U.S. Federal Reserve’s decision to go slow on rate of interest hikes helped lift the Toronto stock exchange to a triple-digit gain Thursday amid soaring commodity prices that saw oil finish above US$40 a barrel for the first time since early December. At the close, the S&P/TSX composite index was up 143.17 points at 13,621.30. ...

Read More »