Berkshire Hathaway, the conglomerate controlled by Warren Buffett, agreed Wednesday to buy a stake in the troubled Canadian mortgage lenderHome Capital Group in a $1.8 billionrescue plan.
Berkshire will pay $300.7million for a 38.4% stake of the Toronto-based company and extend a $1.5 billion line of credit.
“This investment from Berkshire not only addresses Home Capitals near-term requirements for additional liquidity and a lower-cost credit agreement, but also facilitates what the Board feels is the best available path to long-term success,” said Brenda Eprile, chair of Home Capital’s board of directors, in a statement.
In recent years, Home Capital has repeatedly missed its financial guidance amid weaker loan volumes and declining income. In March, the company also revealed that several executives and directors have received enforcement notices from the Ontario Securities Commission related to its disclosure practices and stock trades.
Best Canadian Stocks To Own For 2018: Transcananda Pipelines Ltd.(TRP)
- [By WWW.KIPLINGER.COM]
Energy stocks were driven by a hefty dose of M&A during the third quarter. And that will drive returns for TransCanada Corporation (TRP) during the next one.
- [By Matthew DiLallo]
After a series of setbacks in its attempts to build new oil pipelines, Canadian pipeline giant TransCanada (NYSE:TRP) completed a transformation transaction to acquire U.S. natural gas pipeline company Columbia Pipeline Group for $13 billion, which includes the assumption of debt. The key to that deal was that it increased the combined company’s near-term project pipeline to 23 billion Canadian dollars, which supports TransCanada’s ability to increase its dividend by 8% to 10% annually through 2020. After completing that deal, TransCanada made a bid to acquire all of the outstanding units that it did not own of affiliated MLP Columbia Pipeline Partners (NYSE:CPPL) in a transaction valued at $915 million. These acquisitions solidified TransCanada’s natural gas pipeline growth ambitions, enabling it to diversify away from oil pipelines.
- [By Dustin Parrett]
TransCanada Corp. (NYSE: TRP) just achieved a perfect Money Morning stock VQScore, making it a profit powder keg waiting to ignite…
TransCanada is a Canadian oil and gas pipeline company, most famous for its development of the Keystone XL pipeline connecting Canadian oil fields to major hubs in the United States.
- [By Paul Ausick]
In addition to the Trans Mountain system, two other pipeline projects currently are proposed to move crude oil from Alberta either to the Great Lakes or the Gulf Coast. Enbridge Inc. (NYSE: ENB) is proposing to replace its 50-year old Line 3 system to transport 760,000 barrels a day to Superior, Wisconsin. TransCanada Corp. (NYSE: TRP) has received approval from the Trump administration and would transport 830,000 barrels a day to Nebraska where existing pipelines will take over, sending the crude to U.S. refineries and Gulf Coast terminals.
Best Canadian Stocks To Own For 2018: Prestige Brand Holdings Inc.(PBH)
- [By Ben Levisohn]
Castor believes the cash has disappeared into working capital, which has grown from 23% to more than 50% since 2008. Comparable company PrestigeBrand (PBH) uses 11%; Unilever(UL) and Colgate-Palmolive(CL) far less.
Best Canadian Stocks To Own For 2018: ConocoPhillips(COP)
- [By WWW.THESTREET.COM]
ConocoPhillips (COP) was upgraded to hold at TheStreet Ratings. You can view the full analysis from the report here: COP.
Urban Outfitters (URBN) was downgraded to market perform at William Blair. Continued comp-store sales pressure is pushing out the timeline for a potential recovery, Blair said.
- [By Jon C. Ogg]
Things have improved handily from a year ago in the energy sector. Still, even with a pro-energy White House, things are far from perfect in the oil and gas sector. Now ConocoPhillips (NYSE: COP) is delivering great news to its shareholders.
- [By Lisa Levin] Companies Reporting Before The Bell
General Motors Company (NYSE: GM) is projected to report quarterly earnings at $1.24 per share on revenue of $34.66 billion.
Bristol-Myers Squibb Company (NYSE: BMY) is estimated to report quarterly earnings at $0.85 per share on revenue of $5.24 billion.
United Parcel Service, Inc. (NYSE: UPS) is expected to report quarterly earnings at $1.55 per share on revenue of $16.44 billion.
Time Warner Inc. (NYSE: TWX) is projected to report quarterly earnings at $1.74 per share on revenue of $7.91 billion.
ConocoPhillips (NYSE: COP) is expected to report quarterly earnings at $0.74 per share on revenue of $8.81 billion.
PepsiCo, Inc. (NYSE: PEP) is expected to report quarterly earnings at $0.93 per share on revenue of $12.4 billion.
American Airlines Group Inc. (NASDAQ: AAL) is estimated to report quarterly earnings at $0.72 per share on revenue of $10.42 billion.
Southwest Airlines Co (NYSE: LUV) is expected to report quarterly earnings at $0.74 per share on revenue of $5.01 billion.
Fiat Chrysler Automobiles N.V. (NYSE: FCAU) is estimated to report quarterly earnings at $0.8 per share on revenue of $34.52 billion.
Union Pacific Corporation (NYSE: UNP) is projected to report quarterly earnings at $1.66 per share on revenue of $5.38 billion.
D.R. Horton, Inc. (NYSE: DHI) is expected to report quarterly earnings at $0.85 per share on revenue of $3.76 billion.
The Hershey Company (NYSE: HSY) is estimated to report quarterly earnings at $1.4 per share on revenue of $1.94 billion.
Praxair, Inc. (NYSE: PX) is expected to report quarterly earnings at $1.56 per share on revenue of $2.94 billion.
Altria Group, Inc. (NYSE: MO) is projected to report quarterly earnings at $0.92 per share on revenue of $4.63 billion.
Shire plc (NASDAQ: SHPG) is estimated to report quarterly earnings at $3.54 per share on revenue of $3.72 billion.
Oshkosh Corporation (NYSE: OSK) is projected to report quarter
Best Canadian Stocks To Own For 2018: 3M Company(MMM)
- [By Paul Ausick]
3M Company (NYSE: MMM) traded down 0.64% at $216.35. The stock’s 52-week range is $192.36 to $259.77. Volume was about half the daily average of around 2.7 million shares. The company reports quarterly results before the opening bell Tuesdary.
- [By ]
Cramer was bearish on 3M (MMM) , Fitbit (FIT) and Granite Construction (GVA) .
Search Jim Cramer’s “Mad Money” trading recommendations using our exclusive “Mad Money” Stock Screener.
- [By Garrett Baldwin]
Markets are keeping a close eye on the 10-year bond, which is hovering near 3% – an important psychological level that is likely to influence future price movements. On Monday, Fox Business Network’s “Varney & Co.” asked Money Morning Chief Investment Strategist Keith Fitz-Gerald if investors should be worried. Here’s what Keith had to say about the 10-year Treasury yield… and how it will affect your stocks and bonds in the future.
The price of Brent crude oil topped $75.00 and hit its highest level since November 2014. Oil traders were eyeing the ongoing efforts of OPEC and Russia to reduce excessive production around the globe, rising demand ahead of peak driving season, and the possibility that the Trump administration will slap Iran with a new round of sanctions.
Three Stocks to Watch Today: KO, GOOGL, SLM
Shares of The Coca-Cola Co.(NYSE: KO) added 1.2% after the firm easily beat earnings and revenue expectations. The firm cited strong demand for its new flavors of Diet Coke and its Coke Zero Sugar. Demand was so strong for the quarter that the firm reported organic sales growth of 5%. The company reported earnings per share of $0.47, topping estimates by a penny. Revenue of $7.6 billion easily beat Wall Street estimates.
Shares of Alphabet Inc. (Nasdaq: GOOGL) seesawed in pre-market hours. The online search giant topped Wall Street earnings and revenue expectations after the bell Monday. However, shares were off 0.5% after executives announced that its business costs were on the rise. The firm’s real estate and computer purchases tripled in one year, to $7.3 billion. About one-third of that total came from its $2.4 billion purchase of the Chelsea Market building in New York City.
Good news for SLM Corp.(NYSE: SLM) investors, but bad news for indebted college students and graduates. The firm – also known as Sallie Mae – topped Wall Street earnings expectations on Monday. The firm said that it increased its loan o
Best Canadian Stocks To Own For 2018: Valeant Pharmaceuticals International Inc(VRX)
- [By WWW.THESTREET.COM]
The conference continues on Tuesday with presentations from Bristol-Myers Squibb (BMY) , Pfizer (PFE) , Alkermes (ALKS) and Valeant Pharmaceuticals (VRX) . Cramer said he’ll be watching for news from all four companies.
- [By Kumar Abhishek]
Shares of specialty pharma company Valeant Pharmaceuticals Intl Inc(NYSE:VRX)have tanked more than 20% in last two trading sessions, breaching the support from the 50 day SMA, after the Laval,Quebec-based company reported its Q4 and FY 2016 earnings on Tuesday, before the market opened. While the earnings itself were better than expected, the guidance for FY 2017 didn’t go down well with investors and wall street, earning the company multiple price target cuts. Valeant reported an adjusted profit of $1.26 a share against analysts’ estimateof $1.21. This was Valeant’s first beat in a long time. Even on the revenue front, the company reported better than expected results. Initially, the stock gained on the report of an earnings beat. However, once the guidance figures came in, the stock tanked. In our earnings preview of Valeant, we had said that the adjusted EBITDA guidance for 2017 will be the key driver of VRX stock after the earnings.
- [By Chris Lange]
Valeant Pharmaceuticals International Inc. (NYSE: VRX) shares made a spectacular crash over the course of 2015 to 2017, and it looks like they now may be on the path to recovery. The stock ultimately responded positively when Valeant announced that its subsidiary Bausch + Lomb has begun distributing Vyzulta (latanoprostene bunod ophthalmic solution) for patients across the United States.
- [By Kumar Abhishek] Valeant Pharmaceuticals(NYSE:VRX) stock jumps after the company sold Dendreon for hefty gains.
Shares of Valeant (NYSE:VRX) jumped more than 14% in pre-market trading yesterday, after the Canadian drug maker announced its long-awaited asset sale plans. The stock later gave away some of its gains after Moody’s released a report stating that the asset sales will not impact its credit rating or outlook, though Valeant’s bond prices jumped by 4.5%. Valeant is a classic example of a shareholder value destroyer. Once the darling of Wall Street, the stock has lost more than 90% of its value since its peak in 2014 and is down by more 80% in the last one year. The stock has dragged portfolios of the likes of Bill Ackman and Prof. Aswath Damodaran. However, the asset saleprovides a ray of hope for Valeant’s shareholders.