Toronto had a strong day with a 0.9% gain on Wednesday while the S&P 500 edged up 0.2%.
Toll Brothers was up 3.8% on its strong earnings report. I was hoping for more and hope to see it get back to making new highs.
TFI International was up 3.1% to almost $115. Wow.
RioCan has its annual meeting this morning. Management certainly seems upbeat and optimistic.
Ceapro which is a penny stock also had its annual meeting today. It has a lot of research irons in the fire that could pay off. It’s hoping for positive news from its Phase I trial of its Beta Glucan pills as a cholesterol reducer. It announced today that it has completed enrolling patients in the trial. That’s good although it seemed to take an enormous amount of time to get that done. Now, they saw they may start getting results from the trial by the end of this year although it sounded like that could slip to early next year. Arguably, its existing “cosmeceutical” products justify the current price around 70 cents and there is little or no premium in the stock price to reflect the value of the research potential. One could perhaps argue that the research efforts are a bit of a free lottery ticket. In any case though it is a small company and suitable for a modest investment and not a huge bet.
Alberta was the latest province out borrowing money. It offered 10 year bonds today at a yield to maturity of 2.18% and the offer sold out quickly. It’s interesting to see at least four provinces borrowing at around that rate in the past week or so. Do they fear higher rates? Or is this just normal borrowing for cash needs?