Earnings lift markets
Microsoft, Cenovus and Visa’s reports helped lift markets in New York and Toronto on Wednesday, ending the recent sharp selling streak. The S&P closed 0.21%, the Nasdaq was flat though gained earlier in the session, the Dow added 0.19% and the TSX rose 0.26%. Though Alphabet missed when it reported late Tuesday, Microsoft delivered confident top and bottom line numbers while Visa reported a blowout, signalling that the consumer remains strong.
Big gainers included Beyond Meat up nearly 8%, Booking Holdings 4.4%, Microsoft 4.81% and Visa 6.47%. Losers included Alphabet(A) at -3.67%, Boeing tanked 7.53% after a terrible report, and Capital One at -5.96%. Sectors were mixed, though generally positive. Bitcoin surged 2.7% to $39,000. After hours, Meta reported and shares jumped 13%.
In Toronto, Cenovus reported a positive quarter and a large dividend hike which propelled shares by 10.34%. Energy was easily the strongest sector, followed by materials. Other winners were Baytex up 5.72%, Suncor 3.92% and Whitecap Resources by 6.08%. WTI crude inched up 0.35% to $102 while WCS slipped to $89. Elsewhere, Fire & Flower Holding slid over 10%, Shopify lost another 2.81% and Colliers fell 2.52%.
🥩 Beyond Meat Inc. (BYND-Q) +8%
🧳 Booking Holdings Inc. (BKNG-Q) +4.4%
Ⓜ Microsoft (MSFT-Q) +4.81%
💳 Visa Inc. (V-N) +6.47%
🧮 Alphabet Inc. / Google (GOOG-Q) -3.67%
🛫 Boeing (BA-N) -7.53%
🏛 Capital One Financial Corp (COF-N) -5.96%
🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) +2.7%
🕵️♂️ Meta Platforms Inc / Facebook (FB-Q) +13%
🛢 Cenovus Energy (CVE-T) +10.34%
🛢 Baytex Energy Corp (BTE-T) +5.72%
🛢 Suncor Energy Inc (SU-T) +3.92%
🛢 Whitecap Resources (WCP-T) +6.08%
🌿 Fire & Flower Holdings (FAF-T) -10%
🛍 Shopify Inc. (SHOP-T) -2.81%
🏛 Colliers International Group (CIGI-T) -2.52%
