February 20, 2018

On Tuesday, the S&P 500 was down 0.6% while Toronto was down 0.1%.

Most of the names on our list were down.

Walmart was down 10.2% to $94.11 after reporting earnings. Our last rating was (lower) Sell in October at $86.22. It had then promptly soared reaching $110 at the end of January.

BHP Billiton fell 4.4% in New York (and 5.2% on the BBL shares) and fell 4.5% in Australia. This was after announcing first half of fiscal 2018 earnings that were improved on an underlying adjusted basis but apparently lower than expected. I added to my small position. I consider this to be a speculative investment by nature and I hold it for a bit of diversification and for a bit of a change of pace from my usual diet.

RioCan was down 1.8% to $23.84. It could certainly continue to fall as interest rates rise and the market value of its properties comes under pressure for that reason. On top of that, vacancies are always a possibility. Nevertheless it is very well run and I am comfortable holding some of these units and will consider buying more on dips but I perhaps have had my fill for now.

Canadian Tire was up 2.0%.

After the close, TFI International reported revenues up 2% and adjusted earnings per share  up 8%. It’s hard to say how the market will react. There are probably positive as well as negative aspects of the report and it depends what the market “decides” to focus on.

 

 

 

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