In a week marked by light economic news, Nvidia (NASD: NVDA) dominated the headlines. Investors were eager to see if Nvidia could meet sky-high expectations and whether the artificial intelligence (AI) fueled rally would keep rolling.
Nvidia not only met but surpassed expectations, reaffirming its dominance in the AI market. The company delivered an exceptional earnings report, exceeding analysts’ forecasts and offered a bullish outlook for second-quarter revenues. Additionally, Nvidia announced a 10-for-1 stock split slated for June 7, accompanied by a dividend hike from US$ 0.04 to $ 0.10 per share (after the split the dividend will be $ 0.01 per share, not much but better than nothing 😊). While aimed at enhancing accessibility for retail investors, the stock split will not dilute their ownership stakes.
Following a minor 0.5% dip during Wednesday’s regular trading hours prior to Nvidia’s earnings report, Nvidia’s shares surged by 9.4% the following day, surpassing the $1,000.00 mark and settling at $1,064.69 at week’s end, representing a 12% increase since the earnings release. Though not as substantial as last year’s 24% surge following the earnings report, Nvidia’s current performance is impressive.
As of May 24, 2024, Nvidia’s share price has soared by 115% year-to-date, solidifying its position as the third-largest company by market value, trailing only Microsoft and Apple.
Nvidia reported impressive quarterly earnings, with revenues reaching $26 billion, up 262% from the same period last year and nearly double the previous quarter’s revenues. Net income surged by 628% to $14.88 billion. The robust quarterly report and a forecast of $28 billion in revenues for the next quarter instilled confidence in investors, underscoring the sustained potential of AI driven chip demand. Nvidia’s success also boosted other AI-associated companies.
While data centres and the surging demand for AI chips from cloud giants like Google (NASD: GOOGL), Amazon (NASD: AMZN), Microsoft (NASD: MSFT), and Meta (NASD: META) (who together account for nearly 40% of data centre sales) remain the primary driver of Nvidia’s revenue growth, co – founder and Chief Executive Officer Jensen Huang said the company wants to expand its market beyond data centres and major technology firms. Nvidia has forged partnerships with leading automakers like Tesla (NASD: TSLA), biotech companies like Roche (OTCM: RHHBY), and healthcare leaders like Johnson & Johnson (NYSE: JNJ) to leverage AI in various applications, from self-driving cars to drug development and surgical procedures. This multi-pronged approach strengthens Nvidia’s position as a leader in AI technology and provides diverse revenue streams to reduce risk and improve financial stability.
Nvidia stands as the undisputed leader in AI chips, commanding up to 95% of the market by some estimates. Its early recognition of AI’s potential, coupled with the development of powerful semiconductors custom built for AI applications, and comprehensive solutions encompassing chips, software, and specialized computers, cemented its dominant position. As long as cloud computing heavyweights – Amazon, Google, and Microsoft – continue their race to expand and build new datacentres and AI capabilities, sales of NVidia’s latest chips will continue. Their spend is Nvidia’s revenue. 😊 At least until their own AI compatible chips come online.
Not bad for a company that started out in 1993 as a builder of video graphics card for computer gamers. 😊
Now that we have reviewed the latest developments in Nvidia’s earnings report, let’s continue the series of questions frequently asked by newcomers to investing, and see what else happened in the markets this past week….
Items that may only interest or educate me ….
Canadian Economic news, US Economic news, How much money should I expect to invest to start? .…
Canadian Economic news
This past week’s key economic data that the Bank of Canada (BoC) considers when deciding whether to raise or lower the interest rate.
Consumer price Index (CPI)
Statistics Canada reported that April’s consumer price inflation, as measured by the CPI, slowed to an annual rate of 2.7%, marking a three-year low since March 2021’s 2.1% reading. This figure met expectations and, more importantly, was down from 2.9% in March. On a monthly basis, the CPI increased by 0.5% in April, also matching expectations and down from the 0.6% increase in March. A surge in gasoline prices, driven by the switch to summer blends, supply concerns, and an increase in the federal carbon tax, prevented a lower overall inflation reading.
The Bank of Canada’s preferred measure of inflation, core CPI (which excludes food and energy prices), rose 0.3% from March and 2.7% from April 2023.
For headline CPI (all items measured in the CPI), on a monthly basis, ‘Gasoline’ saw the largest increase, up 7.9%, while ‘Recreation, education and reading’ prices experienced the largest decline, down 0.7%. Year over year, ‘Shelter’ saw the biggest increase, up 6.4%, while ‘Clothing and footwear’ had the biggest decline, down 2.6%.
The lower inflation data, both headline and core, is good news for the BoC, which stated at their April meeting that they wanted more evidence that inflation was falling towards their 2% target. This latest report is the fourth consecutive month of falling inflation and should provide further proof inflation continues its downward trend. However, they must consider the US Federal Reserve’s ‘higher for longer’ approach. If Canadian rates diverge too far from US rates, it could cause the exchange rate to rise, making American products more expensive.
Overall, I am hopeful the BoC will lower Canada’s benchmark interest rate at their June 5 meeting, but not so much that imports become overly expensive. That would be the best of both worlds. 😊
Canadian market volatility
Over the past week, Canada’s Volatility Index (VIXC), measured by the TSX 60, continued its downward trend, closing at 9.88 (down from 10.19) despite fluctuations throughout the week. The decrease in volatility likely reflects easing inflationary pressures, which increases the Bank of Canada’s (BoC’s) likelihood of lowering interest rates in June.
Often referred to as Canada’s “fear gauge,” the VIXC provides insights into expected volatility within the Canadian stock markets. Typically, readings above 20 signify high volatility, while those below 20 indicate lower levels.
Retail Sales
In March, Canadian retail sales dipped by 0.2%, marking the third consecutive month of declining consumer spending following a 0.1% drop in February. Despite analysts’ expectations of flat sales, most sectors experienced sluggish performance, with the exceptions of the ‘Motor vehicle and parts dealers’ and ‘Building material suppliers’ sectors. On an annual basis, however, consumers showed resilience with sales up by 1.9%, led by a robust 6.8% growth in the ‘General merchandise retailers’ sector. Conversely, ‘Sporting goods, hobby, musical instrument, book, and miscellaneous retailers’ saw the steepest decline, plummeting by 6.9%.
Core retail sales, which excludes vehicle and parts dealers, and gasoline stations, recorded its first monthly decline in four months, down by 0.6%. Among core sectors, only ‘Building material and garden equipment and supplies dealers’ bucked the trend, registering a 1.3% increase in monthly sales. Year over year, ‘General merchandise retailers’ remained strong, with a 6.8% uptick.
These figures underscore the impact of higher interest rates, which continue to restrain consumer spending. However, preliminary data for April suggests a slight rebound in retail sales, up by 0.7%. While this signals renewed consumer spending, it is unlikely to sway the Bank of Canada’s decision regarding interest rates at their upcoming June meeting.
US Economic news
This past week’s key data points that the Federal Reserve (Fed) considers when deciding whether to raise or lower the interest rate.
Federal Open Market Committee (FOMC) meeting minutes
The minutes from the April 30 – May 1, 2024, FOMC meeting were recently released, shedding light on the committee’s deliberations. At that meeting, FOMC members kept the benchmark interest rate at 5.5%, set in July 2023.
The minutes from the meeting revealed that officials were concerned that stubborn inflation was not falling as fast as expected, despite earlier progress towards their target of 2%. After several higher-than-anticipated labour market reports and inflation data, including the latest ones at the time of the meeting, officials concluded that it would take longer than previously thought for inflation to cool enough to justify reducing their benchmark interest rate, which is currently at a 23-year high. They debated whether their benchmark rate was exerting enough drag on the economy to further bring inflation down to their target. Some members were even willing to raise rates if inflation did not show a clear downward trend. However, they still leaned towards eventual reductions in borrowing costs, but acknowledged that disappointing inflation readings meant those rate cuts could take a while. In other words, higher for longer.
Furthermore, the minutes addressed concerns about the labour market, acknowledging its strength while noting signs of slowing momentum. Discussions focused on the potential impact of wage pressures on inflation and the broader economic recovery.
Overall, the Fed’s stance remains cautious as they continue to closely monitor economic indicators to guide their policy decisions.
American market volatility
The CBOE Volatility Index (VIX), often regarded as the market’s fear gauge, remained relatively unchanged this past week, closing at 11.93, just slightly lower than the previous week’s reading of 11.99. This stability likely resulted from a positive earnings report from Nvidia, signaling optimism in the burgeoning AI sector. However, concerns over potential delays in Fed interest rate cuts tempered this optimism. With the VIX below the 20 threshold, typically associated with market calmness, investors appear less apprehensive in the short term.
Consumer Sentiment Index (CSI)
The University of Michigan’s final reading on consumer sentiment for May came in at 69.1. This is better than the initial reading of 67.4 and analysts’ expectations of 67.6, but it represents a 10.5% decline from April’s 77.2. Despite this drop, the current reading is still 17.1% higher than a year ago and roughly 40% above the all-time low set in June 2022, indicating that consumer sentiment has improved as inflation has fallen.
The May reading is the lowest in five months and marks the first significant decline after three months of relative stability in the upper 70s. This lower reading is attributed to concerns about a softening labour market, heightened expectations of higher inflation, and the ongoing persistence of high interest rates.
How much money should I expect to invest to start?
Before You Start Investing
Before you decide to invest your money, ensure you have done the following:
- Paid off high-interest debt: Such as credit cards.
- Built an emergency fund: For unexpected situations like sudden illness or injury.
- Set aside cash for major expenses: Expected within the next year.
Once you have these situations safely in hand, it is time to think about investing and how much to invest.
How Much to Start With
No One-Size-Fits-All Strategy
Everyone has unique circumstances, goals, income, lifestyle, bills, and time horizons. If you have C$100 to start, that is a fine beginning. You can open a direct trading account and buy some shares.
- Transaction Fees: As of May 2024, most direct trading accounts in Canada charge a transaction fee of $10 or less, so you will have around $90 to invest.
- Maintenance Fees: If you do not meet the minimum balance requirements of your financial institution, you might incur a maintenance fee. In such cases, consider low-cost platforms like Questrade or Wealthsimple, which charge minimal fees, if any.
A Starting Amount
$3,000 for a Solid Start
In my experience, having around $3,000 is a solid initial amount to place in your direct trading account and be able to start investing immediately. If you have more, that is even better. This amount allows you to:
- Purchase shares in two or more proven, stable companies.
- Start and form the core of your portfolio.
- Benefit from dividends (assuming you choose dividend-paying companies).
Investing in proven dividend payers (such as banks, telecom companies, or utilities) will let you see your money working for you through dividend payments. This can be particularly reassuring if the companies you select experience temporary drops in share price. However, keep in mind that dividends are not guaranteed and should not be the sole reason for choosing a company.
Starting with Less
Even $100 is Enough
If you only have $100, that is still enough to start.
- Open a direct trading account through your financial institution to get a free account or consider using a low-cost platform like some of the ones mentioned previously. You can research options to find one that suits your needs.
- Identify a company you would be proud to own and believe will perform well over the next five years or more.
- If you do not have enough money in your trading account to immediately invest in a company, keep adding money to your trading account on a regular basis until you have saved up enough money. In the meantime, follow one or two companies that you would be proud to own.
- Once you have enough money, buy a few shares, and you will become a part-owner of that company. 😊
Building Your Portfolio
My Experience
I began with $3,000 and often recommend this amount to new investors. As you save more money:
- Move it into your trading account promptly, or setup automatic transfers, to avoid spending it impulsively.
- If you are charged a fee for each transaction, save until you can buy a few shares at once. The less fees you have to pay the more you have to invest. Transaction fees are something to consider, but do not let them be your primary guide as to when to invest. If you see a company you want to invest in, purchase the shares. (I typically wait until I have $2,000 before investing in multiple companies, though I might act with $1,000 or less if a great opportunity arises.)
Diversify Your Holdings
Aim for Diversification
As your cash accumulates, think about other companies you would be proud to own. Do some due diligence to see if they are a good fit for your portfolio. Keep a list of promising companies for future reference, as the companies on your radar will evolve over time.
- Aim to diversify your holdings across at least 15 companies to lower your risk.
- Each time you have enough cash to buy more shares, consider if the new company is better than those you already own. If it is not, it might be wiser to buy more shares of your proven winners.
Think of it as backing the lead horse during the race, rather than betting on a new contender. 😊
Faster trade settlements
Starting next week, on Monday, Canada will shorten the trade settlement period from two days to one day. Following the US Memorial Day holiday, the US will also move to this new one-day settlement standard, known as ‘T+1’.
These changes will affect trades for stocks, Exchange – Traded Funds (ETFs), fixed income securities and most mutual funds. For us investors, this mean trades will settle in one business day instead of two.
In investing, ‘trade settlement’ refers to the process of transferring securities and cash between buyers and sellers after a trade is executed. It is the last step in the trading process, involving the update of ownership records and ensuring that payments are made accordingly.
Weekly Market Review
Monday: the week got off to a mixed start for the American indexes – the S&P 500 Index (S&P), the Dow Jones Industrial Average (DJIA), and the Nasdaq Composite Index (Nasdaq). The Nasdaq and S&P both ended in the green while the DJIA ended in the red. Investors are becoming more optimistic that the Fed will lower interest rates. Oil prices fell after the death of Iran’s president led to political uncertainty in the region.
In Canada, the Canadian markets were closed for Victoria Day.
In the US, the Nasdaq closed at a record high as investors await AI darling Nvidia’s latest earning on Wednesday. In trading, Technology and Basic Materials (miners and fertilizer manufacturers) posted the biggest gains, while Financials and Consumer Staples had the biggest losses.
Tuesday: all four indexes were up and down during the trading session before ending in positive territory. Investors await Nvidia’s earnings report which many anticipate will spark a bull run in AI associated companies. Oil prices fell as higher for longer interest rates has investors worried about lower demand.
In Canada, the Toronto Stock Exchange Composite Index (TSX) was sluggish after the long weekend, barely making it above the starting point but enough to set a record high. 😊 The TSX rose on higher commodity prices and the latest inflation data that showed inflation had dropped to a three year low of 2.7%. In trading, Basic Materials and Energy rose the most, while Healthcare and Telecommunications Services faired the worst.
In the USA, the S&P and Nasdaq both closed at record highs. Another Fed official has said he want to see more proof that inflation is on a downward trend. In trading, Utilities and Financials advanced the most, while Telecommunications Services and Basic Materials declined the most.
Wednesday: the indexes started flat but fell sharply after minutes from the Fed’s last meeting indicated Fed officials felt it would be longer than previously thought before they would be able to confidently lower interest rates. Oil prices slipped for the third day in a row on concerns of higher for longer interest rates.
In Canada, the TSX fell into negative territory as commodity prices fell and concerns about when the Fed would lower US rates weighed on the Canadian markets. In trading, the Technology and Telecommunications Services sectors advanced the most while Basic Materials and Healthcare dropped the most.
In the US, after a tough day in the markets, Nvidia came to the rescue with better-than-expected earnings report that sent the stock price for Nvidia soaring. In trading, Telecommunications Services and Healthcare were the only sectors to record a daily increase. All the other sectors posted a loss, with Basic Materials and Energy falling the farthest.
Thursday: hopes of a rally as a result of blowout earnings by Nvidia yesterday were offset by investor worries of higher for longer interest rates. Unfortunately, other than a few other AI related stocks, the rest of the markets sat out the rally, causing all four indexes to end the day lower.
In Canada, lower commodity prices and fears the Fed would further push back a rate cut caused the TSX to fall to a 3-week low. In trading in the Canadian sectors, Consumer Staples was the only sector to advance, while Healthcare and Basic Materials tumbled the farthest.
In the US, Nvidia’s share price surge initially pushed both the S&P and Nasdaq to intraday highs. However, both indexes later fell into negative territory following economic news of rising prices for materials used in the production of finished goods. The DJIA had its worst single day in over a year. In trading, all sectors lost ground. Technology and Telecommunications fell the least while Utilities and Consumer Cyclicals fell the farthest.
Friday: all the indexes rebounded from yesterdays decline, ending higher heading into the American Memorial Day long weekend. Oil prices rose on expected higher demand over the long weekend in the US.
In Canada, the TSX rose on the optimism that the BoC will lower rates after inflation came in lower than expected. In trading, Basic Materials and Financials posted the biggest gains, while Telecommunications Services was the only Canadian sector to end lower.
In the US of A, the surge from Nvidia helped boost the Nasdaq to a fifth consecutive week of weekly gains. In trading, the Utilities and Technology sectors led the way, each with gains over 1%, while Healthcare was the only sector not to make it into positive territory.
Weekly Market and Portfolio Review
For the week, the TSX (SPTSX) lost 0.6%, the S&P 500 (SPX) was flat, the DJIA (INDU) fell 2.3% and the Nasdaq (CCMP) climbed 1.4%.
| Index | Weekly Streak |
| TSX: | 1 – week losing streak |
| S&P: | 5 – week winning streak |
| DJIA: | 1 – week losing streak |
| Nasdaq: | 5 – week winning streak |
This past week was not the best for the major indexes. The TSX and DJIA recorded losses, the S&P was flat, and the Nasdaq was the only index to post a gain, as you can see in the chart above. While the S&P was essentially flat, it did manage a tiny 0.03% gain, so I will count that as an extension of its win streak. 😊
At the start of the week, there was a sense of optimism about the economy. Promising signs that inflation might be starting to fall again led investors to believe that the Fed could lower interest rates later this year. Coupled with a solid earnings season, this optimism drove all four major North American indexes to their respective record high during the week.
In the US, there were no significant new economic or inflation-related events to move the market. Instead, all eyes were on Nvidia’s first-quarter earnings to see if they could meet investors’ lofty expectations. Nvidia not only met those expectations but also raised its guidance for the next quarter. This was great news for Nvidia’s stock and other companies linked to AI, but it did not have much impact on the broader market. As you can see in the chart above, all four indexes fell on Thursday, the day after Nvidia released its earnings. Concerns over rising prices dashed earlier hopes for a late summer rate cut, causing the markets to stumble before recovering at the end of the week as many investors ‘bought the dip.’
In Canada, inflation continued to drop, with core inflation falling for the fourth straight month, now well under 3%, and within the BoC’s target range of 1% – 3%. This data strengthens the case for an interest rate cut in June. Unfortunately, this good news on inflation and interest rates was not enough to push the TSX into positive territory for the week.
Despite the ups and downs this past week, there is a sense of cautious optimism in the air. While the TSX and DJIA faced losses, the Nasdaq’s gain and the S&P’s tiny uptick offer some positive signs. The BoC is likely to lower Canadian interest rates sometime this summer and the Fed still believes a cut to US rates will happen later this year. Corporate earnings were strong which is a good sign for the economy. I am hoping the momentum from the end of the week carries over to next week, propelling the indexes higher into positive territory. 😊
| Portfolio | Weekly Streak |
| Portfolio 1: | 5 – week winning streak |
| Portfolio 2: | 1 – week losing streak |
| Portfolio 3: | 1 – week losing streak |
This past week saw mixed results across the three portfolios, with Portfolio 1 standing out as the only one to achieve a weekly gain, outperforming the Nasdaq, which was the top-performing index, as shown in the chart below.
Portfolio 1 extended its weekly win streak to five, largely on the strength of Nvidia’s 13% gain. Not only was this a sizable percentage gain, but the high dollar value of Nvidia’s shares made the increase even more impactful. Clestica (TSE: CLS) and Hammond Power Solutions (TSE: HPS.A) also posted significant (more than 10%) gains, each rising 12%. Unfortunatley, Portfolio 1 had several stocks with siginifcant weekly losses, limiting its overall gains. Significant losers included Nano-X Imaging (NASD: NNOX) down 17%, Global-E Online (NASD: GLBE) down 12%, Unity Software (NYSE: U) and GDI Integrated Facility Services (TSX: GDI), both down 10%
Portfolio 2 had the toughest week of the three. Despite Hammond Power Solutions being a major winner, most companies in this portfolio lost ground, dragging down its overall performance.
Portfolio 3 also saw a decline, though not as steep as Portfolio 2. The drop was mainly due to significant losses in Lithium Americas (TSE: LAC), which fell 11%, along with sizable losses by Unity Software and GDI.
Although the gains from Portfolio 1 helped offset the losses in the other two portfolios, I aim for all three to achieve weekly gains. (There is a Captain Obvious statement if there ever was one 😊). Ideally, next week, all three portfolios will end up in the win column, rather than relying on a single portfolio or company to carry the week.
Companies on the Radar
Last week, I mentioned wanting to trim a company or two from my radar list. I removed MasTec, Inc. (NYSE: MTZ) but came across another promising company, leaving me with six companies again.
The new addition is Quanta Services, Ltd. (NYSE: PWR), a large-cap American company offering a wide range of specialty infrastructure solutions throughout the world. Quanta operates across multiple industries, including electric power, renewable and traditional energy markets, underground utilities, and communications. This diversification provides access to various revenue streams and mitigates risks from market fluctuations in any single sector. The company should benefit from the ongoing upgrades to current energy infrastructures and the construction of new ones as the world shifts towards renewable energy solutions. Investing in Quanta would also enhance the diversification of any portfolio.
As well as Quanta, these five other companies are currently on my radar:
- Equitable Bank (TSE: EQB), a mid sized Canadian bank, considered Canada’s 7th bank, that provides financial services to consumers and businesses.
- RELX PLC (NYSE: RELX), provides information-based analytics and decision tools for professional and business customers worldwide
- Lumine Group (TSE: LMN), a young Canadian mid sized company that acquires communications and media software companies, and then strengthens and grows those companies.
- LVMH Moët Hennessy – Louis Vuitton, Société Européenne (OTCM: LVMUY), commonly known as LVMH, is a French multinational conglomerate specializing in luxury goods. It is the world’s largest luxury goods company.
- Evolution AB (OTCM: EVVTY), a Swedish company that provides live casino solutions for global gaming operators.
Please keep in mind that these are only companies that have piqued my interest. This is not a recommendation or financial advice. You should do your own research or contact a professional before making any investment decisions.
The Radar Check was last updated May 24, 2024.
NOTE: Morningstar and Thomson-Reuters analysis is unavailable for Evolution and LVMH from my usual sources because the company’s home stock exchange is in Europe. While it is possible to invest in both companies through the Over-the-Counter Market (OTCM), I do not have access to analysis similar to the data available for companies traded on the major North American stock exchanges (Toronto Stock Exchange, New York Stock Exchange, and Nasdaq Stock market). The Analysts Rating and Price Target for these two companies are from Yahoo! Finance, under the Analysis tab once you have searched for the ticker.
Portfolio Update
Portfolio 1
Portfolio 1 for the week ended May 24, 2024: UP 
- Alphabet’s Google announced it will invest another €1 billion to expand its datacentre capabilities in Finland as it builds out its AI capabilities in Europe. The company also plans to build out its AI capabilities in the Netherlands and Belgium.
- Amazon announced it has partnered with AI company Hugging Face to make it easier for developers to run their AI models on Amazon’s new chips that were custom built for AI applications.
- Walmart (NYSE: WMT) announced they will invest US$ 700 million in Guatemala over the next five years, and are currently investing $600 million in Costa Rica, including building a new distribution centre.
- All is not perfect for Nvidia as the company was forced to price its AI chips below those of Chinese chipmaker rival Huawei, leading to a discount of over 10% in some cases. The NVidia chips were specifically made for the Chinese market to comply with US trade restrictions.
Activity
No significant activity to report this week.
Bought: BCE (TSE: BCE) This is my second investment in BCE. The company holds a strong market position as one of Canada’s leading telecommunications providers, has demonstrated financial stability and offers an attractive dividend. My primary motivation for this investment is the 8.6% dividend yield, which ensures a steady income stream. Even if the share price remains stable, the dividends will contribute to the overall growth of my investment. Additionally, many analysts predict that the telecom industry has reached its lowest point and is expected to rebound in the coming years, providing long-term growth potential.
Bought: Atlanta Braves Holdings (NASD: BATRK) I originally inherited BATRK from a restructuring done by Liberty Media, the parent company of BATRK. However, this is my first purchase of BATRK.
The main asset here is the Atlanta Braves baseball team. Major League Baseball’s popularity has been on the rise, and the Braves have been one of the top teams for the past few seasons. All their winning has boosted the team’s profile, leading to more ticket and merchandise sales. Plus, new media deals are expected to bring in more revenue in the coming years. The Braves are also planning a new mixed-use development around the stadium, which could create additional revenue streams. As revenues grow, the value of the team should go up too.
Investing in BATRK has growth potential but comes with risks. If MLB viewership or attendance drops, it could hurt the Braves’ revenue and share price. Also, sports teams rely heavily on their players’ performance. Injuries, free agency moves, and overall team performance can all impact the team’s revenue and valuation. Financially, it is a mixed bag: revenues are up, but net income and earnings are still negative.
Overall, this investment is a bit iffy. I had a few hundred extra dollars in an account, so I bought some shares with the plan to sell them for a small profit at the end of the baseball season. In the meantime, I can say I own a piece of a professional baseball team. 😊
Dividends
Dividends Received this week for the following companies:
Companies followed by DRIP (Dividend Re-Investment Plan) indicate additional shares were purchased with the dividend. Any cash leftover was added to the cash balance.
Canadian $
Decisive Dividend Corp (TSE: DE) DRIP
Pulse Seismic Inc (TSE: PSD)
US $
No US$ dividends this past week.
Quarterly Reports
Global-E Online Ltd.
First quarter 2024 financial results on May 20, 2024
Nvidia Corporation
First quarter 2024 financial results on May 22, 2024
TD Bank Group
Second quarter 2024 financial results on May 23, 2024
Portfolio 2
Portfolio 2 for the week ended May 24, 2024: DOWN 
- Guardant Health (NASD: GH) announced that its “Guardant360 CDx blood-based test for comprehensive genomic profiling of solid cancers has received certification under the European Union’s In Vitro Diagnostic Regulation.”
Separately, the US Food and Drug Administration’s (FDA) “strongly recommended” federal regulators approve Guardant’s Shield blood test for colorectal-cancer screening. - The Walt Disney (NYSE: DIS) announced it was reducing the headcount at its Pixar studio by 14%, or 175 employees, as Disney continues to lower its expenses. Disney says Pixar will once again focus on quality over quantity.
- MongoDB (NASD: MDB) announced they have received four additional security certifications. This will allow more companies with unique regulatory requirements to use MongoDB’s Atlas product.
Activity
No significant activity to report this week.
Dividends
Dividends Received this week for the following companies:
Companies followed by DRIP (Dividend Re-Investment Plan) indicate additional shares were purchased with the dividend. Any cash leftover was added to the cash balance.
Canadian $
Dream Industrial Real Estate Investment Trust (TSE: DIR.UN) DRIP
US $
No US$ dividends this past week.
Quarterly Reports
No quarterly reports this past week.
Portfolio 3
Portfolio 3 for the week ended May 24, 2024: DOWN
- At Microsoft’s developer conference, the company showcased new tools designed to enable developers to integrate AI into their Windows applications more quickly and easily.
- Shopify (TSE: SHOP) successfully argued against a jury’s decision that Shopify pay C$ 40 million in damages for infringing on the website building technology of Express Mobile.
Activity
No significant activity to report this week.
Dividends
Dividends Received this week for the following companies:
No dividends this past week.
Quarterly Reports
TD Bank Group
See report under Portfolio 1.