- Research In Motion is cutting at least 2,000 jobs and has hired JP Morgan Chase and RBC Dominion Securities to help with its strategic review. It’s becoming clear that they are planning to either sell the company, split it up or downsize severely. The stock which traded for $140 in 2008 ended the week at $10.68.
- Both Rogers Media and Bell Media plan to try to outbid the budget strapped, publicly funded CBC for the broadcast rights to Hockey Night in Canada. CBC has owned the rights since 1952.
- Real estate: Garth Turner reported this week that in Vancouver sales are down 20%, listings have hit a 10-year high and the average price of a single family home is down a hundred grand.
- Lions Gate Entertainment reported a $22.7 million (U.S.) loss in it’s latest quarter due to higher marketing and acquisition costs. In January Lions Gate completed a $412.5 million acquisition of Summit Entertainment and now owns the Twilight and The Hunger Games franchises. The stock was down about 2.5% for the week.
- It was a rough week on the markets with continued worries about Spain and a disappointing U.S. Jobs report. On Friday U.S. markets had their worst day in 2012 with the Dow down 275 points or 2.2%. In Canada the markets did a little better due to gains in gold-mining stocks, the S&P/TSX was down 152 points or 1.32%.
- Here at Canadian Performer’s Money we recorded our most views ever on Friday and was contacted by The Globe and Mail requesting an interview. Special thanks to all those who leave comments regularly (Mr. CBB, Canadian MD Investor) and those who have liked me on Facebook (Chris Neighbors, His Fashion Blog).
- Statistics Canada said the annual inflation rate fell to 1.9% in March from 2.6% in February, the lowest level since the 1.9% recorded in September 2010.
- According to analysts a drop in Canada’s year-on-year inflation rate to an 18-month low in March will not delay interest rate hikes by the Bank of Canada.
- Last week I reported that analyst were saying Apple stock was “extremely under valued” after dropping more than 10% over the past two weeks. After the markets closed on Tuesday, the company reported another round of record-setting quarterly earnings (net income up 94%) and the stock rebounded almost 9% on Wednesday.
- Has U.S. real estate found a bottom? This week the S&P/Case-Shiller index showed values in 20 U.S. cities fell 3.5% in February, the smallest 12-month drop since February 2011. According to the Commerce Department, new homes sold at an annual pace of 328,000 in March, up 7.5% from a year earlier.
Is it a good time for Canadians to buy U.S. real estate? Garth Turner: America
- Britain’s economy has slid back into its first double dip recession since the 1970′s.
- Shares of Rogers fell over 5% Wednesday after the telecom company missed analysts’ expectations on its first-quarter financial results. The company’s wireless division has faced tougher cellphone competition from players big and small, while its cable division is battling fellow industry giant Bell.
- On Wednesday Le Château reported that sales for the fourth quarter were down 5.3%. With still excessively high inventory levels, increasing debt, and a reduction in store count analysts expected share price to remain flat for the foreseeable future.
- I was stunned on Thursday when shares of Le Château skyrocketed over 50%. Is this stock a classic value trap, or has the market been overreacting to the weak consumer environment? Shares are down 85% this past year.
Yesterday I was talking about my recent investment in Bell Canada (BCE Inc.). In the comment section I was asked by Canadian MD Investor why I didn’t invest in Telus or Rogers instead. The answer is that as someone who works in TV and Film I am very interested in Bell’s acquisition of TV and Radio stations.
I found this video detailing Bell Media’s recent acquisition of Astral Media.
Bell Media also owns CTV and CTV Two. Check out this promo featuring music by Rob Base and DJ E Z Rock!
I wanted to add a new stock to my portfolio and after reviewing the top Canadian companies that offer dividend reinvestment plans (DRIPs) I settled on Bell Canada (BCE Inc.).
What are DRIPs? The How part II
Originally I shied away from telecom stocks because I thought the cel phone monopoly they had in Canada was fragile. The three big guys (Bell, Rogers and Telus) had the cel phone market cornered, but what if the government opened it up and started letting other companies play in Canada?
They pay a lot less for cel phone usage in the States and I figured if one of their big players like AT&T moved into Canada, prices would drop and profits might be cut in half. After doing a little research though, I discovered that BCE is much more than a cel phone company and may just be one of my best investments ever.