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Weekend Reading – Why bother with retirement, top picks, housing bubble and more #money stuff + MORE Jul 8th
Save, invest, prosper with My Own Advisor.
Weekend Reading Welcome to another Weekend Reading edition. I hope you had a great week; a great Canada Day last weekend and to my friends state-side an enjoyable Independence Day this week. Here was my article this week in case you missed it: What should.... More »
Spain’s Banco Sabadell sees its $2.6 billion cash offer for TSB bank accepted + MORE Mar 20th
LONDON – TSB, Britain’s seventh largest bank, has accepted a 1.7 billion-pound ($2.6 billion) cash offer from Spain’s Banco Sabadell.
The bank was spun off as part of the 20-billion pound recovery plan to bail out Lloyds Banking Group from the 2008 financial crisis. Shareholders wi.... More »
New rules for investment fees provide clarity, but won't fix all complaints Jan 1st
New disclosure rules coming into effect on Jan. 1, 2017 could go a long way toward fixing one of the biggest complaints of Canadian investors — secret hidden fees that eat away at returns over time..... More »
Adam Chapman financial advisor Aug 9th
Meet Adam Chapman
Adam Chapman jokes that he’s a financial planner who helps people spend money—not save it. And, thanks to his love for afternoon tea, Chapman has worked with people from generations older than him for nearly 20 years. No matter how much wealth his clients have achieved befor.... More »
Rising consumer stocks help market build on a big gain from last week; Pfizer, Allergan slip + MORE Nov 23rd
NEW YORK, N.Y. – Stocks are inching higher Monday morning as the market builds on its biggest weekly gain of the year. Pfizer and Allergan slipped after announcing a deal to combine and create the largest drug company in the world.
KEEPING SCORE: The Dow Jones industrial average rose 14 points.... More »
How the Dow Jones industrial average and other major indexes fared on Friday
– canadianbusiness.com
Stocks ended higher Friday, propelling the Standard & Poor’s 500 index to its fourth record-high close in five days.
Investors weighed better-than-expected company earnings against mixed reports on the U.S. economy. Trading was quiet ahead of the Labor Day holiday weekend.
On Friday:
The Dow Jones industrial average gained 18.88 points, or 0.1 per cent, to 17,098.45.
The Standard & Poor’s 500 index rose 6.63 points, or 0.3 per cent, to 2,003.37.
The Nasdaq composite added 22.58 points, or 0.5 per cent, to 4,580.27.
For the week:
The Dow is up 97.23 points, or 0.6 per cent.
The S&P 500 index is up 14.97 points, or 0.8 per cent.
The Nasdaq is up 41.72 points, or 0.9 per cent.
For the year:
The Dow is up 521.79 points, or 3.2 per cent.
The S&P 500 index is up 155.01 points, or 8.4 per cent.
The Nasdaq is up 403.68 points, or 9.7 per cent.
The post How the Dow Jones industrial average and other major indexes fared on Friday appeared first on Canadian Business.
Investors weighed better-than-expected company earnings against mixed reports on the U.S. economy. Trading was quiet ahead of the Labor Day holiday weekend.
On Friday:
The Dow Jones industrial average gained 18.88 points, or 0.1 per cent, to 17,098.45.
The Standard & Poor’s 500 index rose 6.63 points, or 0.3 per cent, to 2,003.37.
The Nasdaq composite added 22.58 points, or 0.5 per cent, to 4,580.27.
For the week:
The Dow is up 97.23 points, or 0.6 per cent.
The S&P 500 index is up 14.97 points, or 0.8 per cent.
The Nasdaq is up 41.72 points, or 0.9 per cent.
For the year:
The Dow is up 521.79 points, or 3.2 per cent.
The S&P 500 index is up 155.01 points, or 8.4 per cent.
The Nasdaq is up 403.68 points, or 9.7 per cent.
The post How the Dow Jones industrial average and other major indexes fared on Friday appeared first on Canadian Business.
A&E Networks buying a 10% stake in Vice Media for $250 million
– canadianbusiness.com
A&E Networks is buying a 10% stake in Vice Media for $250 million, the Hollywood Reporter has confirmed. The deal values Vice at $2.5 billion:The investment, which values Vice at a hefty $2.5 billion, comes on the heels of ended negotiations with Time Warner, which was considering merging Vice with its HLN. TW has also held discussions with The Blaze, a media entity owned by Glenn Beck.
Vice CEO Shane Smith, who co-founded the company 20 years ago, has long wanted to expand into traditional TV. Vice’s assets include a magazine, website, record label and film production company.
The $2.5 billion valuation is a sharp increase in just one year. 21st Century Fox valued it at $1.4 billion when it bought a 5% stake in 2013. In this 2012 Canadian Business interview the figure was $1 billion. Smith, who co-founded Vice Media in Montreal, recently appeared in the Canadian Business Power 50 and appears on the current issue’s cover. From that interview:
The proud Ottawa punk rocker who built his empire by plying anti-establishment fodder is being wined and dined by the world’s media elite because they’re desperate to get a piece, any piece, of his preternatural ability to identify and profitably exploit the interests of Millennials…
Splunk, Tesla, Apple, Fred’s are big market movers
– canadianbusiness.com
NEW YORK, N.Y. – Stocks that moved substantially or traded heavily Friday on the New York Stock Exchange and the Nasdaq Stock Market:
NYSE
Big Lots Inc., down 85 cents to $46.35
Shares of the discount retailer fell, even as it reported a second-quarter profit that beat Wall Street expectations.
Amira Nature Foods Ltd., up 99 cents to $17.22
The provider of packaged Indian specialty rice reported first-quarter profit and revenue that topped Wall Street expectations.
Nasdaq
Tesla Motors Inc., up $5.84 to $269.70
The electric car maker and a state-owned Chinese phone carrier announced plans to build 400 car charging stations in China.
Apple Inc., up 25 cents to $102.50
The iPhone maker’s stock hit a new 52-week high, a day after saying it will hold a September event to possibly debut new products.
Splunk Inc., up $8.64 to $53.93
The data management software developer reported second-quarter results that beat expectations, and it raised its full-year outlook.
Pacific Sunwear of California Inc…
NYSE
Big Lots Inc., down 85 cents to $46.35
Shares of the discount retailer fell, even as it reported a second-quarter profit that beat Wall Street expectations.
Amira Nature Foods Ltd., up 99 cents to $17.22
The provider of packaged Indian specialty rice reported first-quarter profit and revenue that topped Wall Street expectations.
Nasdaq
Tesla Motors Inc., up $5.84 to $269.70
The electric car maker and a state-owned Chinese phone carrier announced plans to build 400 car charging stations in China.
Apple Inc., up 25 cents to $102.50
The iPhone maker’s stock hit a new 52-week high, a day after saying it will hold a September event to possibly debut new products.
Splunk Inc., up $8.64 to $53.93
The data management software developer reported second-quarter results that beat expectations, and it raised its full-year outlook.
Pacific Sunwear of California Inc…
Fairfax Financial snaps up insurer Pethealth
– theglobeandmail.com
Fairfax to pay 26-per-cent premium for Oakville, Ont.-based pet insurer
Most actively traded companies on the TSX
– canadianbusiness.com
Some of the most active companies traded Friday on the Toronto Stock Exchange:
Toronto Stock Exchange (15,625.73, up 67.56 points):
Bombardier Inc. (TSX:BBD.B). Aerospace. Down 12 cents, or 3.17 per cent, to $3.66 on 9.6 million shares. Swedish company Braathens Aviation says it no longer wants to be the formal launch operator or first recipient of Bombardier’s new CSeries commercial passenger jet because of uncertainty surrounding the program.
Athabasca Oil Corp. (TSX:ATH). Oil and gas. Up 33 cents, or 4.35 per cent, to $7.92 on 7.8 million shares. A big weight has been lifted off the company with the sale of its Dover oilsands stake finally closing. The sale, to a Canadian unit of PetroChina, will bring in proceeds of $1.184 billion, $600 million of which has already been paid in cash.
Baytex Energy Corp. (TSX:BTE). Oil and gas. Up 85 cents, or 1.78 per cent, to $48.62 on 3.2 million shares.
Manulife Financial Corp. (TSX:MFC). Up four cents, or 0.18 per cent, to $21.95 on 3.2 million shares…
Toronto Stock Exchange (15,625.73, up 67.56 points):
Bombardier Inc. (TSX:BBD.B). Aerospace. Down 12 cents, or 3.17 per cent, to $3.66 on 9.6 million shares. Swedish company Braathens Aviation says it no longer wants to be the formal launch operator or first recipient of Bombardier’s new CSeries commercial passenger jet because of uncertainty surrounding the program.
Athabasca Oil Corp. (TSX:ATH). Oil and gas. Up 33 cents, or 4.35 per cent, to $7.92 on 7.8 million shares. A big weight has been lifted off the company with the sale of its Dover oilsands stake finally closing. The sale, to a Canadian unit of PetroChina, will bring in proceeds of $1.184 billion, $600 million of which has already been paid in cash.
Baytex Energy Corp. (TSX:BTE). Oil and gas. Up 85 cents, or 1.78 per cent, to $48.62 on 3.2 million shares.
Manulife Financial Corp. (TSX:MFC). Up four cents, or 0.18 per cent, to $21.95 on 3.2 million shares…
