On Monday I did not note much of interest in the market.
S&P 500 up 0.1%, Toronto down 0.2%.
Stantec was up 2.5%.
Canadian Tire finished flat at $97.90. At one point it touched $99.51 today. There is absolutely nothing special about $100, at least in theory. Still, in practice I think a close over $100 would generate some excitement. Maybe that way all the people who ignored Canadian Tire a year ago at price under $70 can start to pile in. However unless there is news on further “release of value” initiatives such as a partial sale or partnership of the finance operation, I don’t see why we should expect much more here in the near term. The earnings release will hopefully show good same store sales. But will also show the one-time costs of the REIT transaction. And possibly there will be some hit from Target. Obviously, Canadian Tire was a better investment last year at around $70 than it is now at close to $100.
There will be some updates to the reports coming soon.