On Tuesday, the S&P 500 was down 0.2% and Toronto was down 0.6%.
Linamar was down 2.4% probably related to fears about NAFTA.
TFI International (TransForce) was down 4.4% giving back some of its recent gains.
Boston Pizza was down 1.9% to $17.47 to yield 7.9%. I don’t think this is related to fears of higher interest rates. More likely, the market is worried that weak same-store sales could lead to a cut in the distribution. It’s hard to say if those fears are warranted.
AutoCanada announced today that it is acquiring a Mercedes-Benz dealership in Edmonton. This is another is a series of rapid moves that the new boss (Executive Chairman) Paul Antony has taken. It is a sign that Paul Antony has confidence in the company. My hope is that he can turn things around. He will get a big payoff if he can do that and I take no issue with that.
CRH Medical announced its latest acquisition today. This latest acquisition will add about 2% to revenue. I take it as another sign that the strategy of growth by acquisition remains intact at CRH.
I have updated the composition of my own portfolio.