July 17, 2019

On Wednesday, the S&P 500 was down 0.65% while Toronto was down 0.1%.

TFI International slumped 4.1%. This was likely driven by declines in other transport related stocks after U.S. railroad CSX reported lower profits and, of more concern, lower traffic in most or all all of its freight categories. It also lowered its traffic outlook for the next quarter. I suspect this was also the reason that CN Rail was down 3.0% and FedEx was down 2.8%. The latest report out today shows that U.S. rail car loads last week were lower than in 2018. This has been a clear pattern since late January. Meanwhile, Canadian rail car loads were moderately higher than 2018 which has been the pattern all year. I took advantage of the decline in TFI to add 100 shares to my position.

Toll Brothers was down 1.9%.

AutoCanada was down 2.1% to close just below $10. Apparently expectations for its Q2 results are pessimistic.

Linamar was down 2.6%

All in all, it was a not a good day for our stock picks.

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