Today, Cameron Hurst and Brian Madden commented about whether BNS-T, IFC-T, FTT-T, S-T, AW-T, ATD.B-T, CCL.B-T, ENB-T, MG-T, DOO-T, LB-T, FTT-T, PXT-T, TD-T, IPL-T, RCI.B-T, CNR-T, GOOS-T, XLRE-US, EWL-N, IPAY-N, PG-N, NFLX-Q, PLD-N, TLRY-Q, CASH, GS-N, XLU-N, MSFT-Q, IHI-N, COST-Q, TSLA-Q, CIEN-N, BAC-N, PRU-N, MCD-N, V-N, NRZ-N are stocks to buy or sell.
Their mid-April reporting was fine -- revenues and earnings were up 30% and 20%, respectively. Disney is creating a little apprehension in the space, but will not take over the space quickly. It is at risk to seeing the multiple collapse if there is a retracement in the market.
Which telco to buy? Canadian telcos are a good place to invest (an oligopoly) though he owns none of them. Headwinds: slower growth compared to 5-10 years ago, especially in the wireline business and people move to cell phones. BCE, then Telus and Rogers in this order have the most exposure to wireline. Therefore, his first choice is Rogers, though he would carefully weigh all of them first.
(A Top Pick May 16/18, Down 26%) Disappointing, because of overblown fears of a recession that he doesn't expect. This is very cyclical demand for Caterpillar equipment. They reported earnings today and they were in line with subdued expectations. Sales were better than expected and they have partially solved a distribution problem in South America.