November 4, 2016 (8:30 am eastern)

On Thursday, the S&P 500 was down 0.4% and Toronto was down 0.1%.

Canadian tire was up 2.4%.

AutoCanada was down 1.7% and then reported earnings after the close. Adjusted earnings were down 25% and there was a loss after a substantial write-off of goodwill. However, the company remains profitable and continues to plan further acquisitions including in Q4. Excluding the goodwill write-off the company remains profitable. I will update the report and rating for this company after I see how the market reacts today. Given the energy recession in Alberta, the market should not be surprised by the lower earnings.