Breaking News
Investing Pro 0
NEW! Get Actionable Insights with InvestingPro+ Try 7 Days Free

TSX Today: Top Canadian Stocks and Earnings to Watch on Tuesday, November 2

Stock Markets Nov 02, 2021 08:15
Saved. See Saved Items.
This article has already been saved in your Saved Items
© Reuters. TSX Today: Top Canadian Stocks and Earnings to Watch on Tuesday, November 2

The Canadian equities market resumed its upward trend on Monday after ending the previous week with 0.8% losses. The TSX Composite Index rose by more than 200 points, or 1%, for the day to 21,247, starting the big earnings week on a bullish note. Strengthening oil and metals prices helped Canadian stocks climb in the last session.

TSX today TSX stocks could open on a mixed note Tuesday morning due to sideways movement in commodity prices, but all eyes will remain on corporate earnings releases. Investors may also remain cautious ahead of the U.S. central bank’s press conference and interest rate decision scheduled for Wednesday. Statistics Canada will release September month building permits data this morning — reflecting the latest demand trends in the country’s housing market.

Here are the top TSX stocks that investors may want to keep on their watchlists today.

Cargojet stock Cargojet (TSX:CJT) stock slipped by 5.5% in the last session to $186.20 per share after the company reported its Q3 results. The Canadian air cargo service provider’s quarterly revenue rose by 16.7% YoY (year over year) to $189.5 million, beating analysts’ expectations. In contrast, it reported an adjusted net loss of $0.74 per share in the third quarter, missing estimates of $1.31 per share profit. After its earnings miss, analysts from National Bank of Canada and RBC slashed their target prices on CJT stock. These downgrades and earnings miss could keep Cargojet stock under pressure in the coming sessions.

TFI International stock The shares of TFI International Inc (TSX:TFII)continued to fall sharply for the second consecutive day on Monday. After tanking by 7.4% on Friday, TFII stock lost another 3.6% in the last session. The company reported its strong Q3 results last week, beating analysts’ revenue and earnings estimates. However, its management’s comments about the impact of the ongoing supply chain disruptions on TFI International’s costs could be the reason for this selloff. Nonetheless, I consider the ongoing drop in TFII stock an opportunity for long-term investors to buy it cheap due to its overall improving financial growth and outlook.

Keyera stock The Canadian energy company Keyera Corp . (TSX:KEY) will release its third-quarter results Tuesday before the market opens. Street analysts expect the company to report a 65% YoY rise in its revenue to $1.18 billion in Q3 and its quarterly earnings to be around $0.41 per share. Rising oil prices could help the energy firm report strong quarterly results this morning, which could help KEY stock extend its 2021 rally. That’s why investors may want to keep this TSX dividend stock on their watchlists today.

Air Canada stock Air Canada (TSX:AC) will also release its third-quarter results this morning. According to analysts’ consensus estimates, the largest Canadian passenger airline could report total revenue of $1.82 billion — significantly better than $837 million in the previous quarter. However, it could continue to burn cash, as it’s expected to report a net loss of $1.61 per share in Q3. If Air Canada manages to beat analysts’ quarterly estimates, its stock may see a sharp recovery. That’s why investors may want to keep a close eye on it today.

More earnings Other Canadian companies like Equitable Group Inc. (TSX:EQB), Turquoise Hill Resources (TSX:TRQ), B2Gold (TSX:BTO) Parkland Corp (TSX:PKI), Thomson Reuters (TSX:TRI), and Bausch Health (TSX:BHC) are also expected to release their latest quarterly results on November 2.

The post TSX Today: Top Canadian Stocks and Earnings to Watch on Tuesday, November 2 appeared first on The Motley Fool Canada.

The Motley Fool owns shares of and recommends Bausch Health Companies and CARGOJET INC. The Motley Fool recommends KEYERA CORP. Fool contributor Jitendra Parashar has no position in any of the stocks mentioned.

This Article Was First Published on The Motley Fool

TSX Today: Top Canadian Stocks and Earnings to Watch on Tuesday, November 2

Related Articles

Shiba Inu Coin Could Easily Go to $0
Shiba Inu Coin Could Easily Go to $0 By The Motley Fool - Jun 30, 2022

Shiba Inu Coin (CRYPTO:SHIB) was one of 2021’s most popular meme coins. Rising several million percentage points in just over a year, it delivered an even bigger rally than...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at’s discretion.

Write your thoughts here
Are you sure you want to delete this chart?
Post also to:
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Our Apps
© 2007-2022 Fusion Media Limited. All Rights Reserved.
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
  • Sign up for FREE and get:
  • Real-Time Alerts
  • Advanced Portfolio Features
  • Personalized Charts
  • Fully-Synced App
Continue with Google
Sign up with Email