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What To Watch In Canadian Markets This Week

ca.investing.com/analysis/what-to-watch-in-canadian-markets-this-week-200433672
What To Watch In Canadian Markets This Week
By Brenda O'Farrell/Investing.com   |  Feb 10, 2020 08:29
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It is a big week for Canadian company earnings. Here are a few that will be making headlines.

First up on Monday: Restaurant Brands International Inc. (TSX:QSR). The owner of Tim Horton’s and Burger King, reported before the opening bell.

The company’s shares were up in pre-market trading, as early reports just in showed the company’s revenue were posted at $1.48 billion, beating analysts’ expectations of $1.46 billion. Net revenues were pegged at $257 million.

The positive results were spurred by performance of the company’s Popeyes chain, which saw its comparative same-store sales grow by 34%. Same-store sales at Burger King increased by 2.8%, while the same metric at the Tim Hortons dropped by 4.3%.

On Wednesday, two of the country’s biggest gold miners will be reporting earnings – Barrick Gold Corp (TSX:ABX) and Kinross Gold Corp (TSX:K).

Insurance giants will also be in the spotlight on Wednesday, as Sun Life Financial Inc. (TSX:SLF), Manulife Financial Corp (TSX:MFC) and Great-Great-West Lifeco Inc. (TSX:GWO) will report.

On Thursday, oil pipeline operator TC Energy Corp (TSX:TRP) and telecom powerhouse Telus Corp (TSX:T) reveal their earnings.

Formerly TransCanada Corp, the Calgary-based TC Energy operates more than 92,000 kilometres of natural gas pipelines, transporting more than a quarter of all the natural gas in North America.

Last quarter, TC reported a net income of $739 million, a 20.3% drop compared with the $928 million posted in the same quarter the previous year.

Over at Telus, the wireless carrier posted earned $370 billion in the last quarter, slightly less than what analysts were expecting.

The week will end with Canadian marijuana giant Canopy Growth Corp (TSX:WEED), Canadian Tire Corp Ltd (TSX:CTCa) and energy giant Enbridge Inc (TSX:ENB) reporting on Friday.

Everyone with an interest in the cannabis sector will be watching Canopy Growths numbers, and keeping their ears peeled for any announcements. Given that other big players in the sector last week, including Tilray and Aurora Cannabis, announced significant layoffs and changes in top officials as they struggle to bolster their bottom lines, the results from the world’s largest cannabis grower will cast a shadow on the entire sector.

Over at Enbridge, the Calgary-based natural gas pipeline operator is expected to report an increase in earnings for its latest quarter that ended on Dec. 31 when it reports before the opening bell. And depending on just how much those increases are, it could see its stock move accordingly.

Cineplex vote on Tuesday

One other item of interest this week for investors in the Canadian theatre operator Cineplex Inc . (TSX:CGX) will be its shareholders vote on Tuesday as they decide the fate of a $2.8-billion takeover bid by U.K.-based Cineworld Group (LON:CINE).

Shareholder groups have recommended support of the deal.

What To Watch In Canadian Markets This Week
 

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What To Watch In Canadian Markets This Week

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Comments (3)
Michael Luci
Michael Luci Feb 25, 2022 11:09
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Wars are good for the Markets but not for people
Ed Crain
Ed Crain May 17, 2020 2:34
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This writer knew that Covid-19 was coming, but did nothing to mention it. These people are stupid. I would trust the opinion of a fresh steaming pile of manure over any analyst/writer posting on this website.
Josh Perrault
Josh Perrault Feb 10, 2020 10:38
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need some proofreading. Telus did 370 Billion?
 
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