Today, Bruce Campbell (1) commented about whether PPL-T, ENB-T, CJR.B-T, SU-T, ARE-T, CRR.UN-T, BCE-T, PKI-T, IFP-T, TA-T, G-T, TCW-T, FTS-T, EMA-T, STN-T, L-T, BBD.B-T, ATD.B-T, ATRL-T, MFC-T, CNR-T, AQN-T, MFC-T, BIP.UN-T, CSW.A-T, FRU-T, VET-T, SAP-T are stocks to buy or sell.
(A Past Top Pick Oct 28/16, Up 18%) The equity issue was sold. He still owns it and still likes it. He did not buy the issue because he already owned it. He bought it for new clients this morning below the price, however. It is a buying opportunity because it is an artificially created dip and it should go back up shortly.
Airbus bought the C-series program. Does that mean all profits from it don’t go to BBD.B-T? There will be some profits accrue to BBD but not what we thought they would be. They got diluted down for nothing. They made a 61 plane announcement and that was constructive to the stock. He has been away since 9/11 because the stock has been too volatile.
They have probably exhausted the benefit of the Shoppers acquisition although there is a little they can do with groceries on the pharmacy side. There is intense competition in grocery not counting AMZN-Q. It is not the same in Canada because of geographic dispersal. He does not think growth is appealing in this sector and so is not into it.
Market. The US announced final duties on softwood duties. Stocks are already discounted for this. He wonders if now that we have certainty, is it a positive for further NAFTA negotiations. Maybe he can be optimistic. The increase in lumber prices this year has more than offset the duties. WFT-T is up nicely because of a lot of business south of the boarder and not subject to the duty. It will now be $3 per sq. ft. more or $2000 to $3000 per house more expensive for housing in the US.