On Wednesday, the S&P 500 was down 0.1% but Toronto was up 0.4% and most of the stocks on our list were higher on the day.
Canadian Western Bank was up 2.2%. It’s hanging in well in the face of news about bank loan loss provisions. I do think it’s under-valued. But at the same time with the big banks mostly falling in price, if CWB can just hold this price when it releases Q4 results next week, that would not be a bad thing.
Toll Brothers was up 1.9%.
AutoCanada bounced up 3.3%.
lululemon was up 2.5% and has done well in the face of so much talk of consumers being under pressure.
After the close, Costco reported another month of tepid (certainly by their standards) same-store sales growth in the U.S. at 3.0%. Canada continues to post higher numbers and was at 7.9%. My suspicion is that Costco is holding the line on prices in the U.S. more so than in Canada. I had thought this recently tepid same-store growth in the U.S. would push Costco’s share price down somewhat but instead it has risen in the past few months. I’ve seldom been right when betting against this company but once in a while it does go lower.