On Friday, the S&P 500 was down 0.7% and Toronto was down 0.5%.
BHP Billiton was down 4.0% which may have been linked to lower oil prices.
Canadian Western Bank got pushed down 5.8% to $27.89. This was no-doubt due to the current gloom in the west about oil prices. CWB is expected to report good results for its Q4 that ended October 30. But the focus will be on its outlook for growth and for credit losses. It is now trading only 8% above its last reported book value per share ($25.77). It would seem logical for the Bank to begin buying back some shares at this level. It has a plan in place that allows it to buy back shares. But it has a history of seldom or never actually using the approved plan to buy back any shares.
Boston Pizza Royalty Income Fund declined 2.6%. See update below.
Linamar was up 3.4%
Alimentation Couche-Tard earnings preview:
This company will report its Q2 earnings after the close on Tuesday. Generally its earnings rise most quarters due to recent acquisitions and synergies. However volatile and unpredictable gasoline margins can cause earnings to rise even further or to decline in any given quarter. In addition the stock price tends to react positively or negatively to increases/ decreases in same-store merchandise sales. Therefore even when earnings rise, as expected, the stock can fall. With the market declines of late it would certainly not be a surprise if Couche-Tard falls after reporting earnings unless its report is very strong. Couche-Tard has risen during November, which means that analysts are expecting a strong report.