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EQB Price Target Lowered By $9 at TD

TD Securities lowered its price target on EQB Inc. (EQB.TO) to $123 from $132 on Thursday.Analyst Mario Mendonca maintained a Buy rating on shares of the Canadian digital financial services company following its Q2 results."EPS beat consensus by $0.05 (lower by $0.05 vs. our estimate) on much better operating leverage," Mendonca said in a note to clients. "However, the credit picture deteriorated. PCLs were up 16% q/q.""We think investors will focus on impaired PCLs and sizeable adjustments to operating expenses," the analyst said."We like EQB on strong buying activity (buybacks/Loblaw) & PC deal, but acknowledge that credit and loan growth are an issue."(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

$EQB.TO

International49d ago

April US Personal Income Flat Vs. Expected 0.4% Gain, Prior 0.5% Increase

Job Vacancies Held Steady in March, Increased in Three Sectors and Decreased in Two, adds StatsCan

Brief: Canada's Q1 Current Account Deficit Is 15th Consecutive Quarter Deficit

Month over Month, Average Weekly Earnings ($1,333) Were Little Changed in March, says Statistics Canada

Brief: Canada's Q1 Current Account Deficit Expands to $7.2 Billion; MUFG Says Consensus Saw $3.9 Billion Deficit

US Markets49d ago

Dollar Tree Raises Full-Year Earnings Outlook Following Fiscal First-Quarter Beat

Dollar Tree (DLTR) raised its full-year earnings outlook on Thursday after the discount retailer reported fiscal first-quarter results above Wall Street's estimates.The company now expects adjusted earnings to be in a range of $6.70 to $7.10 per share for fiscal 2026, up from its previous outlook of $6.50 to $6.90. The current consensus on FactSet is for non-GAAP EPS of $6.67.The stock jumped 9.8% in the most recent premarket activity.Dollar Tree continues to project net sales from continuing operations at $20.5 billion to $20.7 billion for the ongoing fiscal year and comparable sales to grow by 3% to 4%. The Street is looking for same-store sales growth of 3.3%.Adjusted EPS for the three months ended May 2 advanced to $1.74 from $1.26 a year earlier and topped the average analyst estimate of $1.53. Overall revenue improved to $4.98 billion from $4.64 billion, ahead of the Street's view for $4.96 billion."Our first-quarter results reflect continued progress across the business and demonstrate the strength of Dollar Tree's position," Chief Executive Mike Creedon said in a statement. "We continued advancing our strategic plan - a more relevant assortment, agile cost management, a stronger customer connection, and new store growth coupled with improved store conditions - all driving operating margin expansion and delivering a strong bottom-line performance."Same-store net sales inclined 3.5%, while analysts expected a 3.3% rise at the enterprise level. The metric was buoyed by a 4.5% gain in average ticket.Traffic declined by 1%, but this represented a sequential improvement from the 120 basis-point decrease in the prior quarter, Truist Securities said in a client note.If traffic continues to improve sequentially, Dollar Tree shares could "re-rate significantly from current levels," according to Truist Managing Director Scot Ciccarelli.For the ongoing quarter, the company anticipates adjusted EPS of $1 to $1.15 on net sales of $4.8 billion to $4.9 billion. Analysts are looking for non-GAAP EPS of $0.99. Comparable store net sales are forecast to grow by 2.5% to 3.5%, while the market's current view is for a gain of 2.8%.

$DLTR

Canadian Dollar Bears Retain Upper Hand on Energy, U.S. Trade Representative Comments, Says SocGen

The US dollar (USD) versus the Canadian dollar (CAD or loonie) first gained a toehold above the 200dma last week but managed to put more daylight above 1.3811 on Wednesday, said Societe Generale.Short CAD positions, or about 10% of Open Interest, have been pared back, but bears retain the upper hand as oil prices retreat and United States Trade Representative Jamieson Greer ruffled a few feathers on trade, warning of "significant" issues with Canada on the USMCA trade deal renegotiations, noted the bank.

$CAD$CXY$USD/CAD

Research49d ago

Research Alert: Best Buy Delivers Q1 Fy 27 Earnings And Revenue Beat On Strong Comparable Sales

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:BBY posted solid Q1 FY 27 (Jan.) results with revenue of $8.936B (+1.9% Y/Y) and comparable sales growth of 2.0% vs. -0.7% decline in the prior year. GAAP EPS of $1.31 beat consensus estimates by $0.08, while adj-EPS of $1.28 rose 11.3%, with operating margin expanding to 4.1% from 2.5%. Best Buy Ads and Marketplace initiatives contributed to gross profit rate expansion, validating the strategic pivot toward higher-margin revenue streams beyond traditional retail. Management maintained FY 27 guidance with adj-EPS of $6.30-$6.60 and revenue of $41.2B-$42.1B, suggesting confidence despite CEO transition from Corie Barry to Jason Bonfig. Capex for 2027 is expected to be $750M. We think the strong cash position of $1.75B (+52.5% Y/Y) provides significant financial flexibility during the leadership transition. BBY plans $300M in share repurchases for FY 27, and we believe the diversification into ads and marketplace businesses positions it well for sustainable margin improvement despite ongoing appliances weakness.

$BBY

Research49d ago

Research Alert: Dltr: Apr-q Beat, Though Traffic Declined; Fy 27 Outlook Raised

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Dollar Tree reported a solid Apr-Q beat with adj-EPS of $1.74 (+38% Y/Y) topping the $1.54 consensus, due to better-than-expected gross margin expansion of 130 bps to 36.9%. Revenue rose 7% to $4,976M, roughly $12M above consensus, with comparable sales up 3.5% versus the 3.3% consensus estimate. The multi-price rollout, now in ~5,900 stores after ~630 Q1 additions, continues lifting average basket (+4.5%) but appears to weigh on traffic, which fell 1.0% (negative for the third consecutive quarter). DLTR raised FY 27 adj-EPS guidance to $6.70-$7.10, up $0.20 at the midpoint, and Jul-Q EPS to $1.10-$1.15 vs. the $0.99 consensus. We view the guidance raise positively, particularly against weakening consumer sentiment and likely freight headwinds from rising diesel prices. However, we remain skeptical on growth sustainability given persistent traffic declines and questions surrounding the multi-price rollout's impact on the company's value proposition and long-term growth algorithm.

$DLTR

Oil & Energy49d ago

US Oil Update: Crude Rebounds as US, Iran Exchange Airstrikes

Oil prices rose on Thursday as airstrikes between US and Iran diminished hopes of a peace deal, upending the previous session's losses.Front-month West Texas Intermediate crude futures rose 3% to $91.37 per barrel, while Brent futures gained 2.7% to $96.81/bbl.According to a Reuters report, the Iranian Revolutionary Guard Corps stated the counterstrike was launched in retaliation for a pre-dawn US air raid that deployed aerial projectiles on the outskirts of Bandar Abbas airport.The exchange follows confirmation from Washington that US forces had carried out defensive, early-morning strikes near the Strait of Hormuz.The return to military hostilities erased Wednesday's market optimism, which had previously caused oil prices to plunge 5% on hopes of a diplomatic breakthrough.The mid-week selloff was originally set off by an Iranian state television broadcast claiming a draft interim peace agreement.While the broadcasted document indicated that maritime traffic through the vital shipping lane would return to normal within 30 days of signing, market analysts cautioned that finalizing the actual pact could take up to 60 days assuming both nations could reach an agreement at all.Any remaining market confidence evaporated when US President Donald Trump publicly stated he was unsatisfied with the progress of the three-month conflict's negotiations, warning that critical, unresolved disputes still stand in the way of a settlement."Traders have become increasingly cautious about holding long exposure to the oil market ahead of headlines showing progress in ending the conflict," ANZ said.The ongoing three-month blockade of the Strait of Hormuz continues to fundamentally distort global energy flows.Data from the Oxford Institute for Energy Studies highlighted that China's crude oil imports fell steeply to 9.3 million barrels per day in April, down from its five-year baseline average of roughly 11 mb/d.Despite the demand drop in Asia, underlying physical supplies remain exceptionally tight.The American Petroleum Institute revealed that US crude inventories fell by 2.8 million barrels for the week ended May 22, compounding a massive 9.1-million-barrel draw from the prior week.The oil market is now awaiting official crude storage data from the US Energy Information Administration to gauge further physical market tightening.

Bird Construction Announces Pricing of Canadian Private Placement of $250 Million Aggregate Principal Amount of Senior Notes

Bird Construction (BDT.TO) has priced a Canadian private placement of 4.397% Canadian dollar denominated senior notes due June 1, 2031 in an aggregate principal amount of $250 million, said the company after markets closed on Wednesday.The company expects to use the net proceeds from the offering to repay all of its outstanding debt under its non-revolving term loan facility, approximately $204 million, and to apply the balance for general corporate purposes, which may include repayment of amounts drawn under revolving credit facilities or funding future acquisitions, it said.The offering is expected to close on June 1, 2026.

$BDT.TO

Commodities49d ago

Chevron Seeks 70% Stake in Offshore Greek Block

US oil supermajor Chevron (CVX) has filed an official request to acquire a 70% stake from Greece's Helleniq Energy in an offshore block in the southern Ionian Sea, according to the country's Ministry of Environment and Energy Thursday.The companies have jointly made the request for Chevron's participation in the Block 10 concession. They have also submitted a request to transfer the role of operator from Helleniq Energy to Chevron.Once the transaction is approved, Helleniq will retain 30% of the concession rights, while Chevron will also assume the role of trustee, the ministry said.The first and second research phases pertaining to the block had been completed, while the third and final phase involving exploratory drilling remain subject to a decision, according to the statement.The ministry also said that an 18-month extension of the second research phase is being evaluated to allow the companies to jointly evaluate seismic data for the block and neighboring concession areas.Chevron and Helleniq have already signed lease agreements for four new marine areas south of Crete and the Peloponnese.

$CVX

Asia49d ago

Melbourne Enterprises Turns to Half-Year Profit; Dividend Declared

Melbourne Enterprises (HKG:0158) recorded an attributable profit of HK$20.1 million in the six months ended March 31, compared with an attributable loss of HK$141.5 million a year prior, according to a Thursday Hong Kong bourse filing.Earnings per share were HK$0.80, compared with a loss per share of HK$5.66 in the corresponding period of the previous fiscal year.The property investor's revenue slipped slightly to HK$81.5 million from HK$81.9 million in the year-ago period.The firm declared an interim dividend of HK$1.6 per share for the period.

HKG:0158