June 29, 2020

On monday, markets rose despite the virus situation in the U.S.

The S&P 500 was up 1.5% and Toronto was up 1.3%.

Toll Brothers was up 7.1%. AutoCanada was up 6.3%.

After the close, Alimentation Couche-Tard reported blow out earnings. As expected, revenues were down due to the economic shutdown. But profits in its Q4 ened April 30 were up a shocking 81%. At a quick look this appears to have been driven mostly by far higher margins on gasoline sales in the U.S. and modesly higher gasoline margins in Canada and Europe. Also, while fuel volumes were down close to 20%, merchandise and service revenues in store held up surprisingly well. These are very impressive results.


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