On Tuesday, the S&P 500 was up 0.3% and Toronto was up 0.2%
CRH Medical was up 6.5%. It will report earnings tomorrow, after the close.
Fortis Inc., was up 1.5%. Costco was up 1.4%.
Linamar was down 4.4% after reporting earnings and lower “guidance” for 2019. Linamar expects earnings to grow in the single digits in 2019. It is trading at under six times earnings and is trading at a modest (about 8%) discount to book value while earning an ROE of about 18%. The stock appears to be trading as if earnings will decrease (and stay down) rather than merely slow.
Melcor Developments will report tomorrow, after close. Lot sales this quarter were likely lower unless they sold a significant amount of lots in Arizona. The outlook for lot sales in 2019 is likely to be quite weak. Their REIT business. And their building development activities have also been fairly steady. The stock price reflects a lot of pessimism plus a lack of interest from investors.