Robinhood: Will The Coming Payment for Order Flow Restriction Hurt Earnings?
After the markets closed on February 8, Robinhood Markets, Inc. (NASDAQ: HOOD) announced 4Q 2022 results which were about in line with analysts’ forecasts. The company reported 4Q 2022 diluted EPS of (US$0.19) versus expectations of (US$0.15). A mistake processing a trade hurt Robinhood’s earnings in the quarter by US$0.07 per share. Helped by another jump in net interest […]
John Tory Scandal Doesn’t Pass the Smell Test
This weekend the Toronto Star ‘broke an investigation’ which unveiled Toronto Mayor John Tory had an affair with a 31-year-old staff member. At this point, both Tory’s wife and the former staff member have declined to comment to the media. But it has us asking questions. What is the likelihood that a reporter at the […]
Private Equity Losses Expected To Crush Pension Plans In 2023
Disappointing private equity returns in 2022, and the lag in reporting those returns, may represent a threat not just to investors, but to pension plans’ ability to pay retirees in 2023. More specifically, private equity returns are typically reported with a lag of up to six months. This means that the degree to which pension plans […]
UPDATED: U.S. F-22 Shoots Down Unidentified Flying Object Over Canada, Recovery Operations Underway
After the Chinese balloon debacle that occurred last week, it appears that Canada and the US are taking no chances with a repeat public relations disaster. For the second time in two days, the US military has shot down an object over North American airspace. Except this time, it was over Canada. The latest object, […]
Is the Petrodollar Doomed?
For decades now, people have been asking, how can the US run twin deficits? Meaning they spend more on imports than they bring in via exports coupled with the fact they consistently run large government deficits. Out of a vacuum, one would expect the US dollar to consistently lose value in such a scenario. If […]
Nickel In Pickle: Trafigura Recorded $577 Million Loss On Fraudulent Nickel Purchase
Swiss trader Trafigura Group is facing losses of more than $500 million after learning that metal cargoes it purchased did not include the nickel they were supposed to. As a result of the fraud, the commodities dealers declared a $577 million impairment since the cargoes allegedly containing the nickel the firm purchased contained lower-value components […]
BBBY: Bed Bath & Beyond To Shutter Canadian Operations After Filing For Creditor Protection
The end of Bed Bath & Beyond (NASDAQ: BBBY) has begun, with the Canadian arm of the retailer making a relief filing under the Companies Creditors Arrangement Act, also known as a CCAA filing. The filing is the Canadian equivalent of bankruptcy protection. In making the filing, BBB Canada indicated that it has had financial […]
Trump is Back! Meta Restores Former President’s Facebook Account
Donald Trump’s Facebook and Instagram accounts have been restored, allowing the former president to post on the social media platforms once again. Despite having his account reinstated, though, Trump has yet to publish a post on the account. The restoration comes several weeks after Facebook announced it would grant the former President access to his […]
Big Cheese: Saputo Doubles Profit As Inflation Bites Consumers
Saputo Inc. (TSX: SAP) said Friday that its profit more than doubled in the most recent quarter due to increased prices, improved production, and robust sales. The Montreal-based dairy processor, which manufactures popular brands such as Armstrong cheese, Scotsburn ice cream, and Baxter, Neilson, and Dairyland milk, reported $4.6 billion in revenue for its fiscal […]
Pandemic II? 8 Dead, Villages On Lockdown Due To Unidentified Fever-Causing Illness In Equatorial Guinea
According to local officials, Equatorial Guinea is investigating an epidemic of an unexplained ailment that causes hemorrhagic fever and has killed at least eight people. Two villages have been placed under lockdown. The outbreak was discovered on Tuesday, according to the health ministry in the central African country, and it affected persons who attended a […]