US GDP Surges By 33.1% In Third Quarter, Surpassing Expectations
Following the largest economic slump in history, it appears that the US economy has rebounded faster than ever, with third quarter GDP soaring to an annualized pace of 33.1%, according to the latest Commerce Department estimates. The GDP gain surpassed Dow Jones economists’ projections of 32% growth, and significantly outperformed the post Second World War […]
Teladoc Health: Numerous Analysts Raise Price Targets Following Q3 Earnings
Yesterday, Teladoc Health (NYSE: TDOC) reported its third quarter earnings results, reporting $228.8 million in revenue. In a note Friday morning, Canaccord Genuity’s analyst Richard Close raised his 12-month price target on Teladoc to US$261 from US$255. Canaccord also reiterated their buy rating on the company, saying, “We reiterate our BUY on Teladoc after the […]
Zenabis Global Converts Debt Below All Time Low At $0.04794 Per Share
Conversion prices for Zenabis Global (TSX: ZENA) debt just keeps getting lower. The company issued a late night news release Friday night, indicated that they had converted certain outstanding secured convertible notes at a rock bottom price of $0.04794 per common share, a figure below their 52 week low. Under the original terms of the […]
Pandemic Crisis Worsens: More Than 50% Of Europe’s Smaller Businesses Expected To File For Bankruptcy Within The Year
It appears that it is not just small and medium-sized businesses in the US that are being decimated by the coronavirus pandemic. SME’s across Europe’s top five major economies fear they will have no choice but to shut their doors within the next 12 months of the pandemic situation does not improve. According to a […]
Yield Stars: Laurentian Bank
Montreal-based Laurentian Bank (TSX: LB) is a Canadian Schedule 1 lender whose equity took a beating in the pandemic economy, and still hasn’t quite recovered. The bank’s bottom line was hurt in recent quarters by some charges it had to take for allowances for delinquent loans in the shifting economy, which optimists might consider an […]
Canada’s Economy Expands By 0.7% In September, Braces For Fourth Quarter Slowdown
With the latest Statistics Canada data released on Friday, it appears that Canada’s economy has reached its final growth spurt in September, and now will be bracing for a slowdown come the end of the year. Canada’s GDP level increased by 1.2% in August, following growth of 3.1% in July. Statistics Canada also released its […]
Small Business Confidence Across Canada Slumps to 5-Month Low Amid Virus Resurgence
As a second, more severe coronavirus wave threatens the Canadian economy, small businesses across the country are once again bracing for the worst. As governments look to bring back previously lifted restrictions and closures to contain the virus, Canada’s economy may be heading for a dark fourth quarter. The Canadian Federation of Independent Business (CFIB) […]
Canaccord: “We Believe The Fundamentals Of Lundin Mining Remain Strong”
This morning, Cannacord Genuity reiterated their C$11 price target and Buy rating on Lundin Mining (TSX: LUN) after they announced their third-quarter results. The action mimics that of Bank of Montreal, whom took similar action yesterday. Dalton Baretto, Canaccord’s mining analyst, said, “We reiterate our BUY rating on LUN following the company’s Q3 results. Recent […]
Trudeau Government Mulls Including New Social Programs In Upcoming Fiscal Plan
It appears that the Liberal government’s fiscal plan will soon be expanded to include permanent spending unrelated to immediate COVID-19 measures. According to a senior government official familiar with recent private talks, Finance Minister Chrystia Freeland’s upcoming November fiscal statement will likely include details regarding additional long-term government spending. The new spending plans will likely […]
BMO Drops Cenovus Energy Price Target To $6.00 From $7.50
This morning BMO lowered its 12-month price target on Cenovus Energy (TSX: CVE) to C$6.00 from C$7.50 and reiterated its outperform rating on the stock. This comes after Cenovus reported their third-quarter results. Randy Ollenberger, BMO’s analyst, says that Cenovus’ results were slightly below their expectations. He said, “The company’s upstream assets performed well this […]