On Thursday, the S&P 500 was down 0.35% and Toronto was down 0.2%.
TFI International was up 2.1% to $40.45. This is a very well-managed company.
Toll Brothers was up 1.5% to $37.30.
AutoCanada was up 1.4% to $12.54. I reduced my position in this stock by about 20% today. This was to reduce my risk.
Most stocks were down modestly on the day.
Kraft Heinz (not on our list) released poor results, cut its dividend, revealed an investigation into their accounting, took a large write-off and said that the packaged food industry has become tougher. This is a 3G company, the same people that control Restaurant Brands. They are notorious for ruthless cost cutting. There will not be a lot of sympathy for their troubles. Buffett (Berkshire has been a major investor / partner with 3G for years) defended 3G’s approach last year while noting that Berkshire itself does not take such a ruthless approach. It will be interesting to see if his reaction changes especially if accounting irregularities are found.