- 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).
Every day I read the financial news and you hear about the same few stocks that everyone is following. FaceBook… Apple… The big banks… bla bla bla.
Today I want to know about the small caps that you’re following. Why do you think they may be a good investment? Have you bought any shares?
I’ll go first…
- Canada is eliminating the penny. The cost of minting the coin has risen to 1.6 cents or $11 million a year. Australia and New Zealand got rid of the penny about 15 years ago and the whole world is moving closer to a cashless society.
- Higher gas prices are angering many Canadians, but can you share in the profits? CBC News: Can you invest in rising gas prices?
- Alex Avery, an analyst with CIBC World Markets Inc. predicts REITs (real estate investment trusts) will generate total returns (that is, dividend payouts and capital gains) of between 15% and 25% during this year and the first half of next.
- U.S. discount retailer Target arrives in Canada next year and plans to hire 25,000 employees, but the real winner may be RioCan Real Estate Investment Trust, Target’s largest Canadian landlord with 24 of its stores.
- Individual REITs can be bought just like stocks, or you can buy a diversified basket of REITs through an ETF (exchange traded fund) which is a type of low-cost mutual fund that trades on the stock market. Learn more: Canadian REIT ETFs… is now the time?
- Apple Inc., already the world’s most valuable company, hit the $600-billion (U.S.) level for the first time Tuesday. Only one other company has been worth $600-billion — Apple’s old sparring partner Microsoft Corp.
- Also this week, the U.S. Justice Department took Apple Inc. and two major publishers to court for conspiring to push up the prices of e-books.
- Vancouver’s Lionsgate Entertainment hit the jackpot with its Hunger Games franchise. Hunger Games opened to a staggering $214-million global debut weekend (the 3rd biggest opening weekend ever). The stock is rated a “buy” and has more than doubled in the past year.
- Vancouver’s Thunderbird Films announced Sea to Sky Entertainment, a partnership with Lionsgate to create television programming for broadcast and cable networks. Days later, Thunderbird opened a new office in L.A., followed a week later by Thunderbird picking up a Digital Emmy in Cannes for the TV show “Endgame”.
- On Tuesday Spanish bond yields approached their highest levels this year, raising concerns that the country is headed toward a financial crisis. Stocks were hit hard for a fifth consecutive day, sending Canada’s benchmark index into a loss for the year and marking the worst losing streak for U.S. stocks since November and their biggest one-day declines of the year.
- Fortunately, a good start to first-quarter earning season has seen a major rebound for North American markets the past two days.