Canadian Market Down In Negative Territory; Shopify Tanks On Weak Results

RTTNews | 503天前

(RTTNews) - The Canadian market is notably lower Wednesday morning, weighed down by disappointing results from some big name companies, including Shopify Inc. A bit of uncertainty about the outlook for Fed interest rates also appear to be forcing investors into a defensive mood.

The benchmark S&P/TSX Composite Index, which dropped to 20,048.94 earlier in the session, is down 119.07 points or 0.52% at 22,171.55 about half an hour before noon.

Shopify Inc (SHOP.TO) shares are down nearly 20% after the company reported a net loss of $273.00 million for the quarter ended March 2024, compared to net profit of US$68.00 million in the year-ago quarter.

NexGen Energy shares are plunging nearly 10%. The company announced that it has entered into a binding term sheet with MMCap International Inc. for the purchase of 2,702,410 pounds natural uranium concentrate for an aggregate purchase price of US$250 million.

Aritzia Inc (ATZ.TO) is down 4.7%. Bausch Health Companies (BHC.TO), Capstone Mining (CS.TO), Cameco Corporation (COO.TO), Spin Master Corp (TOY.TO), Bombardier Inc (BBD.B.TO), Teck Resources (TECK.B.TO), Lundin Mining (LUN.TO), First Quantum Minerals (FM.TO), NuVista Energy (NVA.TO) and Lightspeed Commerce (LSPD.TO) are down 2 to 3%.

Stella-Jones Inc (SJ.TO) is soaring nearly 9% after the company reported a net income of $77 million or $1.36 per share for the first quarter of 2024, up 32% from the year-ago quarter.

Nuvei Corporation (NVEI.TO) reported adjusted net income of $62.5 million for the first quarter, down 3% from $64.5 million a year ago. The stock is down marginally.

B2Gold Corp (BTO.TO) is gaining 2.5%. The company posted a net income of $48.5 million in the first quarter of 2024, compared to $102 million in the year-ago quarter.

Goeasy Ltd. (GSY.TO) reported a net income of $58.9 million for the first quarter, up 15% from $51.4 million in the same period of 2023. The stock is down 1.65%.

Suncor Energy (SU.TO) is gaining 1.5% after the company reported adjusted operating earnings of $1,817 million for the first quarter of 2024, compared to $1,809 million a year ago.

Losing Streak May Continue For Thai Stock Market

The Thai stock market has moved lower in five straight sessions, shedding more than 35 points or 2.6 percent along the way. The Stock Exchange of Thailand now sits just above the 1,270-point plateau and it may take further damage again on Wednesday.

RTTNews | 24分鐘前

Japanese Market Modestly Lower

The Japanese stock market is modestly lower in post-holiday trading on Wednesday, reversing some of the gains in the previous session, following the broadly negative cues from Wall Street overnight. The Nikkei 225 is falling below the 45,450 level, with a lack of direction leading to a mixed performance across most sectors.

RTTNews | 49分鐘前

Indonesia Stock Market May Be Stuck In Neutral On Wednesday

The Indonesia stock market has alternated between positive and negative finishes through the last four trading days since the end of the seven-day winning streak in which it had surged almost 400 points or 5 percent. Now at a fresh record closing high, the Jakarta Composite Index sits just above the 8,125-point plateau although it's due for profit taking on Wednesday.

RTTNews | 54分鐘前

Lower Open Expected For Hong Kong Stock Market

The Hong Kong stock market has finished lower in two straight sessions, shedding almost 400 points or 1.7 percent along the way. The Hang Seng Index now sits just beneath the 26,160-point plateau and it's tipped open under pressure again on Wednesday.

RTTNews | 1小時9分鐘前

Australian Market Notably Lower

Australian shares are trading notably lower on Wednesday, snapping a three-session winning streak, with the benchmark S&P/ASX 200 falling below the 8,000 mark, following the broadly negative cues from Wall Street overnight, with weakness in gold miners, financial and technology stocks partially offset by gains in iron ore miners and energy stocks.

RTTNews | 1小時18分鐘前

China Shares Tipped To Open Under Water On Wednesday

The China stock market turned lower again on Tuesday, one day after snapping the two-day slide in which it had dropped more than 55 points or 1.5 percent. The Shanghai Composite Index now rests just above the 3,820-point plateau and the losses may accelerate on Wednesday.

RTTNews | 1小時24分鐘前

Taiwan Stock Market May Spin Its Wheels On Wednesday

The Taiwan stock market has moved higher in back-to-back sessions, collecting more than 675 points or 2.7 percent along the way. The Taiwan Stock Exchange now sits just beneath the 26,250-point plateau although it's expected to be stuck in neutral on Wednesday.

RTTNews | 1小時54分鐘前

Singapore Bourse May Hand Back Tuesday's Gains

The Singapore stock market on Tuesday finally halted the seven-day losing streak in which it had slumped more than 55 points or 1.3 percent. The Straits Times Index now sits just above the 4,300-point plateau although it may head south again on Wednesday.

RTTNews | 2小時24分鐘前

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