Canada CPI Due Next Week


Economic Lookahead

Empire State manufacturing index (May)

NAHB home builders’ index (May)

Featured Earnings

Ryanair Holdings plc (NASDAQ:RYAAY) (Q4) EPS estimate for loss of $1.65, compared to a loss of $1.16 in the prior-year quarter.

Purple Innovation Inc. (NASDAQ:PRPL) (Q1) EPS estimate for 11 cents, identical to the prior-year quarter.

Hostess Brands Inc. (NASDAQ: TWNK) (Q1) EPS estimate for 20 cents, compared to 14 cents in the prior-year quarter.


Economic Lookahead

Canada’s International Transactions in Securities (Mar.) Canadian investors acquired $10.5 billion of foreign securities in February, continuing a trend of net purchases that began in May 2020. Meanwhile, foreign investment in Canadian securities reached $8.5 billion, led by strong acquisitions of Canadian shares.

Housing Starts (April) The trend in housing starts was 273,664 units in March 2021, up from 252,636 units in February 2021.

Featured Earnings

Galaxy Digital Holdings Ltd. (T.GLXY) (Q1) EPS estimate for $2.20, … Read more

Airbnb Bookings Jump 52% As Travel Rebounds

Airbnb (NASDAQ:ABNB) beat analysts’ estimates for bookings in the first quarter as travel begins to rebound around the world with the loosening of COVID-19 restrictions.

The San Francisco-based company, which went public last December, reported $10.3 billion U.S. in gross bookings in the three months ended March 31, a 52% increase from the year earlier period and well beyond the $7.57 billion U.S. that analysts had expected.

Airbnb’s revenues rose 5% to $887 million U.S., also beating analyst’s projections. The company’s share price fluctuated in extended trading after closing down 3.2% at $135.75 U.S. on Thursday (May 14).

The surprisingly positive results reflect a big upswing from a year ago, when Airbnb’s bookings plunged 80% after the pandemic shut down most of the world. Travel was one of the hardest hit sectors during the pandemic, but Airbnb saw a swifter recovery than its peers when people started abandoning their city … Read more

Futures Tumble Thursday

Futures for Canada’s main stock index slipped on Thursday, weighed by a near 3% fall in oil prices as the deepening COVID-19 crisis in India raised concerns about demand.

The TSX lost 166.27 points to end Wednesday at 19,110.77

The Canadian dollar dipped 0.51 cents Thursday to 82.45 cents U.S.

June futures sank 0.6% Thursday.

Canadian Tire surpassed analyst estimates for first-quarter revenue, helped by strong online demand for bikes, patio furniture and pool supplies from people stuck at home due to the COVID-19 crisis.

Cargojet has threatened to move work to the United States unless it wins exemption from rules aimed at preventing pilot fatigue because of their cost, according to a deal rejected by its pilots.

BMO raised the target price on Intact Financial to $190.00 from $185.00

Scotiabank cuts target price on Northland Power to $48.25 from $52.00


The TSX Venture Exchange dropped 19.53 points, … Read more