Net worth tracking
Login Sign Up
  • All Opinions
  • Top Picks
  • Discover
  • Companies
  • Experts
WATCH LIST
Home » Daily

Markets slip on mixed earnings and fading stimulus

Allan TongAllan Tong Posted On October 27, 2020
0
103 Views
0
0
Shares
  • Share On Facebook
  • Tweet It


This week, you missed Past Top Picks comments by Bryden Teich including Onex Corp (A Top Pick Oct 19/18, Down 8%) Get Premium to receive all past top picks opinions a few hours before market open.
Get Premium

A day after Monday’s sell-off, markets stabilized Tuesday, though mixed earnings, the second wave of Covid cases and the unlikelihood of seeing U.S. stimulus before the Nov. 3 presidential vote pushed markets into the red by the close. The Dow shed 0.8%, the S&P lost 0.3% and the TSX slipped 0.36%.  Investors fell back on tech as the Nasdaq rose 0.64% and ahead of earnings from mega-tech names this week. Even a rise in WTI prices by 2.2% and 6% for WCS didn’t lift Canadian stocks.

There was a flurry of earnings and acquisitions. Spin Master bought the private company behind Rubik’s Cube and inched up almost 1%. AMD bought rival chipmaker Xilinx for US$35 billion to become a mega-semi-maker. AMD stock fell 4%, but Xilinx soared 8.56%.

Meanwhile, Harley-Davidson roared 22% as its new CEO beat revenues in this surprising turnaround story. Shopify popped 4.32% after announcing an e-commerce deal with the controversial TikTok. From high tech to old power, Teck Resources reported a profit miss, dragged down by the falling price of coal. Teck stock was hit -5.85%. Restaurant Brands‘ Q3 profit beat estimates, but its sales dropped. QSR shares fell 3.8%.

🧸 Spin Master Corp +1%
💾 Advanced Micro Devices -4%
💿 Xilinx Inc +8.56%
🛵 Harley Davidson +22%
🛍 Shopify Inc. +4.32%
🛢 Teck Resources Ltd. -5.85%
🍱 Restaurant Brands International -3.80%

Post Views: 103
0
Shares
  • Share On Facebook
  • Tweet It




Trending Now
MEG Energy Corp, Aritzia Inc. and More at 52-week Highs (Feb 24 Mar 02)
Melisa R. H. March 3, 2021
Yum China Holdings Inc, Magna Int'l. and 19 Stock and 1 ETF Top Picks (Feb 19-25)
Melisa R. H. February 26, 2021
Markets plunge on rising Covid cases
Read Next

Markets plunge on rising Covid cases

  • We're the Stock Chasers
    Hi! We are the Stock Chasers. We write about investing and finance tools we love. We’re passionate about fintech and we invest almost all our affiliate and advertising revenues into the development of Stockchase and Wealthica. We hope you enjoy the stock ideas and product reviews!
  • Join 39,652 Investors

    Winning in the Market eBook
    We deliver stock ideas to your inbox. Sign up free, get the ebook!

  • Top Reviews

    • The Ugly Truth About Identity Theft – Free Credit Report
      10
    • Questrade Review: Pros & Cons of Trading with Questrade Canada (2021)
      8.5
    • Questrade vs Others | The Review Competitors Don’t Want you to Read (2021)
      7.4
  • Popular Posts

    • MEG Energy Corp, Aritzia Inc. and More at 52-week Highs (Feb 24 Mar 02)
    • Yum China Holdings Inc, Magna Int'l. and 19 Stock and 1 ETF Top Picks (Feb 19-25)
    • Spin Master Corp, Kinaxis Inc and More Earnings Reports this Week (Mar 01-05)
    • 6 Promising Green Energy Stocks
    • 3 Daring Recovery Stocks
  • Stock Lists

    • Battle of the Stocks: 2021 Consumer Staples Stocks
      March 2, 2021
    • 3 Daring Recovery Stocks
      February 23, 2021
    • 3 Bargain Stocks: Eli Lilly, Unilever & Apple
      February 16, 2021
    • 6 Promising Green Energy Stocks
      February 9, 2021
    • 3 Dependable Canadian Stocks to Buy in 2021
      February 2, 2021


  • Get $50 in free trades.


  • Stockchase neither recommends nor promotes any investment strategies.

    About us : Privacy & Terms : Contact us

© Stockchase Inc.
Press enter/return to begin your search