Indexes Gain on Day, Pounded on Week

Investors breathed a collective sigh of relief over the glad tidings south of the border the U.S. debt ceiling, and showed that relief by going on something of a buying spree.

The TSX bounced 352.38 points, or 1.8%, to end Friday at 20,024.63. The TSX suffered its sixth straight week of declines if losses hold, its longest weekly losing streak in over a year. This week, even with Friday’s gains, the index faltered 326 points, or 1.6%.

The Canadian dollar eked up 0.12 cents to 74.49 cents U.S.

All but two of the TSX subgroups were in positive country, led by the energy sector, in which Baytex was the main star, adding 28 cents, or 6.3% to $4.71, while Headwater Exploration grabbed 42 cents, or 6.5%, to $6.88.

Among consumer discretionary concerns, Gildan Activewear gained $1.03, or 3.7%, to $28.78, while Magna International jumped $3.16, or 4.8%, to $68.75.

Industrials … Read more

Twitter’s Head of Trust and Safety, Ella Irwin, Resigns Amid Controversy and Turmoil

Twitter’s head of trust and safety, Ella Irwin, has resigned from her position at the social media company.

Her departure comes amid ongoing criticism regarding the platform’s approach to content moderation and struggles with advertiser retention following Elon Musk’s acquisition in October.

Irwin, who joined Twitter in June 2022 from Amazon, confirmed her resignation to various news outlets but declined to provide a reason for her decision.

She served for approximately seven months and was responsible for overseeing content moderation and combating disinformation on the platform. Irwin’s internal Slack account appeared to have been deactivated, according to sources and screenshots viewed by Fortune.

Previous Leadership Changes in Trust and Safety

Irwin’s departure marks the second resignation of a head of trust and safety since Elon Musk’s takeover. She replaced the previous head, Yoel Roth, who resigned in November after Musk acquired the company. Roth later wrote in a New York … Read more

Canadian Jobs Numbers Due Next Friday

Canadian Jobs Numbers Due Next Friday



Economic Lookahead

Factory orders (April)

ISM Services (May)

Featured Earnings

Science Applications International Corp. (NYSE: SAIC) (Q1) EPS projects for $1.71, compared to $1.88 in the prior-year quarter.

HealthEquity, Inc. (NASDAQ: HQY) (Q2) EPS projects for 23 cents, compared to 15 cents in the prior-year quarter.

JOANN Inc. (NASDAQ: JOAN) (Q1) EPS projects for loss of 65 cents, compared to loss of 24 cents in the prior-year quarter.


Featured Earnings

Scryb Inc. (CSE: SCYB) (Q2) EPS projects for loss of two cents, compared to loss of three cents in the prior-year quarter.



Featured Earnings

Ferguson plc (NYSE: FERG) (Q3) Reported EPS for gain of $2.18, compared to $2.50 to the prior-year quarter.

The J.M. Smucker Co. (NYSE: SJM) (Q4) Reported EPS for $2.42, compared to $2.23 in the prior-year quarter.

Casey’s General Stores, Inc. (NASDAQ CASY) (Q4) Reported EPS … Read more