Array Technologies stock was climbing Friday, with analysts optimistic on the manufacturer of solar energy products after first-quarter earnings. Oppenheimer analyst Colin Rusch upgraded Array to Outperform from Perform and gave the stock a $20 price target. After the stock market closed on Thursday, Array reported first-quarter adjusted earnings of 6 cents a share on revenue of $153.4 million.
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China sold a record $53.3 billion worth of US Treasurys and agency bonds last quarter as it accelerates diversification from dollar assets.
(Bloomberg) -- Canada’s banking watchdog warned that many homeowners who took out mortgages when rates were near zero during the pandemic will soon face a reckoning as those loans renew.Most Read from BloombergThese Flight Routes Suffer the World’s Worst TurbulenceNvidia Delivers on AI Hype, Igniting $140 Billion Stock RallyCiti Trader Got 711 Warning Messages Before Sparking Flash CrashTech Up in Late Hours as Nvidia Emboldens AI Bulls: Markets WrapThe “payment shock” faced by some borrowers is
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RICHMOND, B.C. — Retailer London Drugs says it is "unwilling and unable" to pay a multimillion-dollar ransom to cybercriminals who claim to have stolen data in a hacking attack that recently shut down its stores for more than a week.
"Restaurants brought out the servings slowly and were like, 'Nobody is going to sit there for hours and just eat them.' Actually, lots of people did."
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Shares of e-commerce software platform Shopify (NYSE:SHOP) jumped 5.4% in the morning session after Goldman Sachs analyst upgraded the stock's rating from Neutral to Buy and raised the price target from $64 to $74. The new price target represents a 25% premium from where shares traded when the upgrade was announced. The analyst added, "Given Shopify's significant technology moat in eCommerce software and share gain across eCommerce cycles, we believe these investments will drive more durable rev
(Bloomberg) -- Toronto-Dominion Bank and its US money-laundering woes are set to dominate the start of Canadian bank earnings season this week. Most Read from BloombergThese Flight Routes Suffer the World’s Worst TurbulenceCiti Trader Got 711 Warning Messages Before Sparking Flash CrashOne Dead After Singapore Air Flight Hit By Severe Turbulence‘It Felt Like We Had Crashed’: Singapore Air Passenger Describes Turbulence TerrorIt’s “all eyes on TD,” Bank of America Securities analysts led by Ebrah
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Power Corporation of Canada (Power Corp) has shut its China investment unit and dismissed all staff, said two people briefed on the matter, becoming the latest Western financial firm to pull back amid the country's economic challenges. Power Sustainable, which is the asset management arm of Power Corp and manages $4.5 billion of assets globally, started laying off all of its 17 local staff in recent weeks as it moved towards shutting down the Shanghai-based unit, said the people. Economic slowdown has seen many of the Western financial firms that scrambled to expand China operations a few years ago take a hit on their earnings and rein in their ambitions for what was a key piece of their global growth strategy.
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"Canadians look likely to get a small dose of rate relief in the coming weeks."
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TORONTO — While there’s still room for surprises, Canadian banks are set to report results after a second quarter that was notable for its economic steadiness.
OTTAWA — Canada’s annual inflation rate fell to 2.7 per cent in April amid a broad-based slowdown in price growth, boosting expectations of an interest rate cut next month. Statistics Canada said the slowdown from 2.9 per cent in March was led by food prices, services and durable goods. Tuesday’s consumer price index report bears good news for the Bank of Canada, which has been looking for a sustained decline in inflation toward its two per cent target. And for economists who have been expecting
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