Meta Earnings: Increasing Fair Value Due to Generative AI Advances…
What We Thought of Meta’s Earnings Meta META reported strong fourth-quarter financial results, with the firm’s sales growing 21% year over year to $46.8 billion and operating margins expanding 700 basis points year over year to 48%. Why it matters: Meta’s advertising behemoth surpassed our expectations on both the top and bottom line. We were […]
Navigating Success with Fidelity NorthStar
Fidelity NorthStar hasn’t always been a top performer, but it could be counted on for downside protection. An important change five years ago helped the fund capture extra upside, making it one of the top names in the Global Small-Mid Cap category. From October 2011 to November 2019, Fidelity NorthStar’s two skilled managers, Joel Tillinghast […]
Apple Earnings: Impact of Slowing iPhone Sales Becomes Clear
Apple’s AAPL December-quarter revenue rose by 4% year over year to $124.3 billion. IPhone revenue declined 1% year over year to $69.1 billion, and services revenue rose 14% year over year to $26.3 billion. March-quarter revenue guidance calls for low to mid-single-digit year-over-year growth. Why it matters: The firm’s tepid results and guidance align with […]
Rogers Earnings: Competitive Landscape Continues to Challenge
Key Morningstar Metrics for Rogers Communications What We Thought of Rogers Communications’ Earnings Rogers Communications’ RCI.B fourth-quarter earnings highlighted Canada’s competitive wireless and wireline service market. However, the country’s stricter immigration policy weighed on the firm’s wireless results in the fourth quarter, and we expect this to continue in the coming years. We’ve reduced our […]
INSIGHT: How Two Ex-Employees are Steering Mali’s Tough Negotiations with Barrick
Mali’s military-led government, which in December seized three metric tons of gold from Barrick worth about $245 million, has given the miner until Saturday at midnight to respond to its demands. It wants Barrick to pay 125 billion CFA francs ($199 million) in back taxes, according to a source familiar with the situation. If a […]
Canadian Pacific Earnings: Impact of Port Disruptions on Performance
Canadian Pacific Kansas City’s CP fourth-quarter top line grew by 3% year over year, on yield gains (longer lengths of haul) and synergies related to the merger with Kansas City Southern, partly offset by labor-related port disruption for coal and intermodal. Profitability also improved relative to a year ago. Key Morningstar Metrics for Canadian Pacific […]
Canada’s Economy Contracted in November Due to Tariff Impacts…
The Canadian economy declined 0.2% in November as the country faced a hefty 25% US tariff on its exports, which could take effect as early as this Saturday. That decline followed a 0.3% expansion in October. Even with a projected 0.2% rebound in December, analysts note that the implied quarterly growth of 1.6% (annualized) falls […]
Canadian National Earnings: Impact of Cold Weather and…
Key Morningstar Metrics for Canadian National Railway Company What We Thought of Canadian National Railway Company’s Earnings Canadian National Railway Company’s CNR fourth-quarter top line fell 2.5% year over year due to labor-related port disruption (strikes at Vancouver, Prince Rupert, and Montreal) and greater cold weather operating restrictions. These factors also pressured margins during the […]
Potash: Canadian Import Tariffs Expected to Be…
Multiple financial media outlets reported that US President Donald Trump plans to place a 25% tariff on Canadian imports effective Feb. 1. Shares in potash producers Nutrien NTR and Mosaic MOS declined in response to the news. Why it matters: The United States is Canada’s largest potash export market. The US also produces very little […]
JPMorgan Set to Deliver $4 Billion in Gold in the U.S. Amid Concerns Over Tariffs
Fears of imminent tariffs on imports following the election of US President Donald Trump have caused prices for gold futures on Comex to surge over spot prices in London. Spot prices shot to record highs this week, but the additional premium on Comex has created a lucrative arbitrage opportunity for the handful of banks that […]