This past week, as I reviewed my three portfolios, I was surprised by the number of trades I had made in the past few months – a total of 21 across all portfolios. Unfortunately, all but one were on my TD Direct Investing account, costing me almost $200. While not a significant amount in the grand scheme, it is still $200 less available for investment. ☹️
Starting out in investing, transaction fees may not be top of mind. However, they quietly chip away at your returns and hinder your long-term goals. Even seemingly insignificant fees can pile up, especially with frequent trading, ultimately cutting into profits. For those with limited cash for investment, these fees can represent a significant portion of their investment, making portfolio growth more challenging.
Moreover, high transaction fees can discourage diversification. If you are charged every time you buy a different stock or fund, you might opt for fewer investments to avoid fees, thus increasing your risk. Additionally, these fees can complicate cost calculations, particularly during tax season, making it harder to track actual investment costs and profitability.
The psychological impact of knowing each trade incurs a fee can create a barrier, leading to hesitation and potentially causing missed opportunities. This frustration is compounded when compared to fee-free trading platforms, which offer the same services without extra costs. Overall, transaction fees are a tangible cost that can hinder your investment strategy and returns, proving to be a persistent annoyance for many investors.
However, it is important to remember that while some brokers offer commission-free trades, they may provide fewer features or research resources. Higher fees might be justified if they provide valuable services that enhance your investment decisions.
Ultimately, transaction fees are an inevitable aspect of investing. Striking a balance between fees and the features and services provided by your broker is key to successful investing.
This week, alongside our regular economic news update and market recap, we will explore the advantages of commission-free online brokers and delve into why opting for a trading platform with a nominal transaction fee might be advantageous. So, in the spirit of Daenerys Targaryen, ‘Let’s begin.'”
Items that may only interest or educate me ….
Canadian Economic news, US Economic news, Transaction fees, What I learned ….
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.
Gross Domestic Product (GDP)
Statistics Canada reported that the Canadian economy, as measured by GDP, grew at an annual rate of 1.7% in the first quarter, up from 1.0% in the fourth quarter. However, this growth fell short of analysts’ expectations of 2.2% and was well below the BoC’s forecast of 2.8%. On a quarterly basis, GDP rose by 0.4% in the first quarter of 2024, with consumer spending being a major driver of this growth.
On a monthly basis, GDP remained unchanged in March after a 0.2% increase in February. Both the ‘Goods producing industries’ and ‘Services producing industries’ sectors saw no growth for the month. The ‘Construction’ subsector was the best performer with a 1.1% increase, offset by a 0.8% decline in the ‘Manufacturing’ subsector. In the ‘Services producing industries,’ ‘Educational services’ grew the most at 0.5%, while ‘Management of companies and enterprises’ fell by 3.4%.
While it is good to see economic growth, the rate was slower than expected. Considering Canada’s growing population, GDP per capita has now fallen six times in the past seven quarters. The lower GDP data suggests the higher rates have cooled Canada’s economy. Analysts and investors believe this latest data clears the way for the BoC to lower Canada’s benchmark interest rate and increases the likelihood they reduce the rate. However, the BoC has made no signals they will lower the rate when they meet next week, so the decision to hold or cut the rate could go either way.
Canadian market volatility
Over the past week, Canada’s Volatility Index (VIXC), measured by the TSX 60, continued its downward journey, ending the week at 8.30 (down from 9.88) despite fluctuations throughout the week. The decrease in could be the result of the slowing Canadian economy, as indicated by the latest GDP report, which increases the BoC’s likelihood of lowering interest rates in June. Additionally, there has been a cooling off of inflation in the US, which may lead the US Federal Reserve to take similar action with their rates.
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.
US Economic news
This past week’s key data points that the US Federal Reserve (Fed) considers when deciding whether to raise or lower the interest rate.
Personal Consumption Expenditures (PCE)
The Department of Commerce’s Bureau of Economic Analysis reported that the PCE price index rose 0.3% in April, the same as in March. Year over year, the index increased by 2.7%, again matching March’s rise. Both numbers met analysts’ expectations.
The Fed’s favorite measure of inflation, core PCE, which leaves out the volatile food and energy components, went up 0.2% in April. This was a bit slower than the 0.3% growth rate in March, indicating that inflation eased slightly in April. However, on a year-over-year basis, core PCE increased by 2.8%, keeping pace with March.
Overall, the latest data shows that inflation is not rising and remains below 3% for both headline PCE and core PCE. Plus, core PCE declined on a monthly basis. While this suggests inflation might be falling, one month’s data is not enough to call it a trend. The Fed will need to see a few more months of cooling inflation before considering a cut to the US benchmark interest rate. If this downward trend continues, analysts believe the Fed might lower the rate as soon as their September meeting.
While the PCE data offers valuable insights into the Fed’s potential actions on interest rates, it is only one piece of the puzzle. The Fed will also consider a wide range of other economic indicators before deciding whether to maintain or lower interest rates.
Gross Domestic Product (GDP)
The Commerce Department’s Bureau of Economic Analysis released its “second” estimate for the first-quarter GDP, showing the economy grew at an annual rate of 1.3%. This matched analysts’ predictions but was slightly down from the initial, or “advance,” estimate of 1.6%. It is clear the economy has slowed considerably, especially compared to the 3.4% growth rate of the fourth quarter, marking the smallest increase in two years.
Several factors helped boost the GDP, including increases in consumer spending, residential and non-residential fixed investment, and state and local government spending. However, this growth was tempered by a decline in private inventory investment. This latest report suggests that the Fed’s higher-for-longer interest rates are indeed cooling the economy.
The second estimate is based on more complete data than what was available for the initial estimate released last month.
American market volatility
The CBOE Volatility Index (VIX), often regarded as the market’s fear gauge, jumped as high as 14.86 before ending the week at 12.91, up 8% from last week’s 11.93. This increase likely resulted from a slowing economy, uncertainty around when and how deep interest rates are likely to fall after the latest PCE inflation report showed inflation remained steady, just under 3%. With the VIX below the 20 threshold, typically associated with market calmness, investors remain less apprehensive in the short term.
Consumer Confidence Index (CCI)
The Conference Board reported that the CCI rose to 102.0 in May, up from an upwardly revised 97.5 in April. This higher reading was unexpected, especially since the CCI had declined for the past three months, and analysts had predicted a reading of 96.0.
The boost was driven by a more positive view of current business conditions. Of the two components of the CCI, the Present Situation Index increased to 143.1 in May from 140.6 in April, indicating that consumers are feeling slightly better about the current state of the economy. Meanwhile, the Expectations Index rose to 74.6 in May from 68.8 in April. Although this is an improvement, it still falls short of the 80 threshold that typically signals a healthy economy.
Overall, the report paints a mixed picture for consumer confidence. While there is a slight uptick in current sentiment, concerns about the future remain.
The Consumer Confidence Index (CCI) represents a sample of American households’ views on their current economic situation and their expectations for the next six months. The CCI has two main components.
The Present Situation Index measures consumers’ views on current business conditions, including employment, income, and overall economic activity. On the other hand, the Expectations Index looks at consumers’ outlook for the next six months, covering factors like job prospects, income expectations, and business conditions.
The overall CCI score (combining these indexes) reflects consumer optimism (above 100) or pessimism (below 100). The Expectations Index is particularly important, as a reading below 80 can signal a potential economic slowdown.
What about transaction fees?
Every dollar counts in the world of investing, and transaction fees can add up faster than you might realize and eat away at your investment returns. If you are just getting started investing, understanding the ins and outs of transaction fees is essential for maximizing your investment gains.
A few years ago, there were TV ads where folks blamed transaction fees for missed investment opportunities. But they are not telling the whole story. The full picture involves various factors such as stock selection, investment duration, and trading frequency. Success in investing depends on a combination of factors, however, eliminating transaction fees puts more money to work for you
If advanced features are not a priority, opting for a commission-free online broker can significantly reduce transaction costs, especially for frequent traders. In Canada, platforms like Wealthsimple Trade, Questrade, and TD Easy Trade offer commission-free trading, while in the US, Robinhood, E*TRADE, and Charles Schwab are popular choices. This is particularly beneficial for day traders and frequent traders, where transaction fees can accumulate rapidly.
However, if you are a “buy and hold” investor, paying $10 per transaction on 25 different companies amounts to $250 in fees. Even with a no-fee platform, would that $250 really make a difference in your long-term goals, like saving for a home or retirement? Probably not. Those fees often provide access to valuable features like advanced charting tools, price alerts, in-depth research reports, professional broker assistance, and phone support for trading or platform help. Brokers such as TD Direct Investing, Scotia iTRADE, and BMO InvestorLine provide these features alongside competitive fee structures.
In addition to fees, it is crucial to assess the security and customer service reputation of the brokerage. Some commission-free brokers have faced scrutiny over data security and trade execution quality, highlighting the importance of due diligence.
While transaction fees are a consideration, investing is about more than just minimizing costs. Your choice of brokerage should align with your investment goals, strategy, and comfort level with trading. Take the time to evaluate your needs and compare the features, fees, and services of different brokers to make an informed decision.
What I (re)learned
This past week, I got a reminder about after-hours trading on the American exchanges. On Thursday, following the release of MongoDB’s (NASD: MDB) quarterly earnings, I saw the company warned of lower revenues and lowered their forward guidance. This news caused the share price to drop about 10% in after-hours trading. The next day, the stock price fell even further, ending the week down 32%. I had been considering selling my MongoDB shares, and if I had acted immediately when I first heard the news and used the after-hours market, I could have saved some money.
This significant drop also reminded me that I do not have to sell all my shares of a company at once. When I first thought of selling MongDB a few weeks ago, I could have sold half or some other portion of my holdings. While I still would not have been happy with the big drop, at least the drop would not have been as painful.
Weekly Market Review
Monday: it was a slow day in the North American markets with the American exchanges – the S&P 500 Index (S&P), the Dow Jones Industrial Average (DJIA), and the Nasdaq Composite Index (Nasdaq) – closed for Memorial Day.
In Canada, higher commodity prices boosted the Toronto Stock Exchange Composite Index (TSX) into positive territory. In trading, Basic Materials (miners and fertilizer companies) and Financials posted the largest gains while Telecommunications Services was the only sector to end in the red.
Tuesday: A mixed bag for the indexes, with the S&P and Nasdaq rising and the TSX and DJIA falling. Investors concerns about persistent inflation is once again weighing on the markets as yet another Fed member expects US rates to remain higher for longer. Oil prices rose on expectations that OPEC+ countries will extend supply cutbacks through the summer.
In Canada, concerns about the timing and extent of US interest rate cuts acted as drag on the TSX. In trading, Basic Materials, Energy and Technology were the only sectors to rise, while Industrials and Consumer Staples led decliners.
In the US, rejuvenated by the long weekend, traders pushed the Nasdaq to another record high when it closed above 17,000, largely on the strength of a surging Nvidia (NASD: NVDA) which hit an all time high itself. In trading, Energy, Technology and Consumer Cyclicals were the only sectors to advance, while Industrials and Consumer Staples had the biggest declines.
Wednesday: hawkish comments from a Fed official and a spike in US bond yields to over 4.5% caused all four indexes to tumble into the red. Fears of higher interest rates combined with concerns of lower demand for gasoline in the US led to a drop in oil prices.
In Canada, US interest rate concerns were a drag on the TSX. A weaker than expected earnings report from the Bank of Montreal (TSE: BMO), caused by higher loan loss provisions, also weighed on the index. In trading, only the Consumer Staples sectors was able to avoid falling into negative territory. Financials and Basic Materials fell the deepest into the red.
In the US, concerns of higher for longer interest rates has led to rising US bond yields which has overshadowed and offset the run in AI related companies. In trading, all American sectors lost ground. Technology and Telecommunications Services dropped the least while Energy and Basic Materials fell the hardest.
Thursday: fears of higher for longer interest rates and signs of a slowing US economy caused the American indexes to spend the day in the red, while the TSX index was able to remain in the green all day. Investors now await the latest update on inflation in the US, due tomorrow morning.
In Canada, the TSX got a boost from a better-than-expected earnings report from the Royal Bank (TSE: RY). News of a slowing US economy was also well received. In trading, Financials and Telecommunications Services led a broad rally that had only the Technology sector failing to post a gain.
In the USA, the first quarter GDP report showed the economy grew less than expected suggesting the economy is starting to slowdown. In trading, despite all three indexes ending lower most of the American sectors ended higher, led by Consumer Staples and Energy. However, the bigger Technology and Telecommunications Services sectors fell hard, overwhelming the other sectors.
Friday: the week ended on a mostly positive note as only the Nasdaq failed to post a daily gain. All four indexes moved sharply upward at the end of the day as many professional portfolio managers repositioned their portfolios to align with the investment objectives of the portfolios. Oil prices fell as investors worried production cuts might not be extended at a meeting of OPEC countries this weekend, thereby increasing the supply of oil.
In Canada, the latest GDP data showed the Canadian economy was slowing, increasing the chances the BoC will cut the rate at their June meeting. In trading, it was a day of broad-based advances for the Canadian sectors, led by Consumer Cyclicals and Energy. Basic Materials was the only sector to come up short.
In the US, the core PCE reading showed the pace of inflation growth in April had slowed since the previous month. In trading on Wall Street, Energy and Telecommunications Services posted the biggest gains, while Technology was the only sector to end lower.
Weekly Market and Portfolio Review
For the week, the TSX (SPTSX) slipped 0.2%, the S&P 500 (SPX) dropped 0.5%, the DJIA (INDU) fell 1.0% and the Nasdaq (CCMP) sank 1.1%.
| Index | Weekly Streak |
| TSX: | 2 – week losing streak |
| S&P: | 1 – week losing streak |
| DJIA: | 2 – week losing streak |
| Nasdaq: | 1 – week losing streak |
This past week was a tough one for the markets, with all four major North American indexes ending lower, as shown in the chart above.
In the US, the week began on a positive note, pushing the Nasdaq above 17,000 for the first time. The momentum from a rally sparked by Nvidia’s earnings report carried over into this week. However, comments from various Fed officials suggesting that interest rates are likely to remain high for longer than expected quickly dampened the rally, pushing the indexes into negative territory. On the economic front, the latest US GDP report showed the American economy slowing down, which reignited investor hopes that the Fed could start cutting rates as early as September. One other piece of good news was that the core PCE data showed the pace of inflation had slowed.
In Canada, the TSX started strong as rising commodity prices continued to boost the index. However, similar concerns about prolonged higher US interest rates weighed on the TSX as well. Additionally, a weaker-than-expected Canadian GDP report increased investor belief that the BoC might start lowering interest rates at their June meeting.
Overall, it was not the best week to close out an otherwise good month. Looking ahead, investors will be focusing on the US job market next week for signs of whether the American economy is continuing to slow down.
| Portfolio | Weekly Streak |
| Portfolio 1: | 1 – week losing streak |
| Portfolio 2: | 2 – week losing streak |
| Portfolio 3: | 2 – week losing streak |
With the indexes having a rough week, it was no surpise that all three portfolios decreased in value this past week, as illustrated in the chart below.
Portfolio 1 fared the best among the portfolios, thanks to significant gains from Pulse Seismic (TSE: PSD), which rose by 10%, and Decisive Dividend (TSE: DE), which increased by 12%. It also got a substantial boost from Nvidia’s US$50 per share increase. Unfortunately, these gains were not enough to counterbalance declines in half of the stocks in the portfolio, including a 14% drop by Hammond Power Solutions (TSE.V: HPS.A) and a 13% fall by Celsius Holdings (NASD: CELH).
Portfolio 2 had a particularly tough week. In addition to Hammond Power Solutions’ drop, MongoDB fell by a staggering 32%. Around 66% of the holdings either declined or remained flat this past week, which didn’t help its performance.
Portfolio 3 didn’t have a good week either. While Lithium Americas (TSE: LAC) was the only company that saw a significant drop, losing 13% of its value, nearly 80% of the companies in the portfolio were either down or flat. It’s tough to post a weekly gain when so many companies are losing ground. ☹
Overall, it was a challenging week for the portfolios, mirroring the broader market’s decline. Let us hope for better performance in the coming weeks. With earnings season winding down, investors will now turn their eyes to next week’s labour data in Canada and the US.
Monthly Market Review
For the month, the TSX (SPTSX) rose 2.6%, the S&P 500 (SPX) gained 4.8%, the DJIA (INDU) increased 2.3% and the Nasdaq (CCMP) jumped 6.9%.
Despite a tough final week, May ended on a positive note with all four major North American indexes making gains, ashown in the chart above.
The month started strong. The TSX, S&P, and Nasdaq, which had all set record highs earlier this year, were joined by the DJIA hitting a milestone, closing above 40,000. Strong earnings reports, especially from the tech sector, boosted investor confidence. However, by late May, the mood began to shift. Comments from Fed officials about potentially keeping interest rates high to fight inflation dampened enthusiasm and led to a market pullback.
In the US, uncertainty grew with the latest GDP report showing a slowdown in economic growth. While this hinted at possible rate cuts in the future, it clashed with the Fed’s message of rates remaing high for longer, leaving investors with mixed signals. On a brighter note, inflation data provided some relief, with core PCE figures indicating slowing price increases. Sector performance also played a key role. Tech stocks, initially strong, faced pressure due to fears that higher interest rates would impact their future earnings. However, a strong earnings report and forward guidance from Nvidia sparked a rally in AI related companies before a rotation out of technology companies caused the Nasdaq to lose some steam.
Meanwhile, in Canada, the TSX was bolstered by rising commodity prices, which climbed throughout most of the month. The US economic slowdown, concerns of prolonged high US interest rates, and Canadian economic data showing a cooling economy also influenced the TSX. Many analysts and investors now expect that the BoC will cut interest rates at their June meeting.
The energy sectors in both countries felt the impact of the ongoing conflict in the Middle East, possible lower demand, and concerns over prolonged high interest rates.
As the month drew to a close, fund managers in Canada and the US made their usual end-of-month portfolio adjustments, likely adding some last-minute upward momentum to the markets.
In the end, May wrapped up with all three major American indexes achieving their sixth monthly gain out of the last seven.
May presented a mixed bag for the three portfolios, with each experiencing its own set of challenges amidst a generally positive market backdrop. As indicated in the chart below, Portfolio 1 stood out as the top performer, even surpassing all the indexes in the process – but hey, we are not keeping score here! 😊
Portfolio 1 owes its success to standout performances from tech giants like Nvidia. While it managed to consistently increase in value throughout the month, it did hit a slight snag in the final week. Portfolio 2 had its share of highs and lows, with two solid weeks countered by two less-than-ideal ones, ultimately dragged down by a disappointing earnings report from MongoDB this last week. Meanwhile, Portfolio 3 started off strong, only to take a hit when Shopify’s (TSE: SHOP) share price took a tumble, before recording minor gains and losses to finish out the month.
Overall, Portfolio 1’s gains outweighed the losses of Portfolios 2 and 3 combined, although I did not anticipate the latter two posting monthly losses. However, this past month serves as a reminder of how one stock can significantly impact a portfolio. In the case of Portfolio 1, Nvidia propelled it higher, while MongoDB and Shopify had negative effects on Portfolios 2 and 3, respectively. I accept this risk, considering the substantial returns these companies have generated since I invested in them, and each has played a crucial role in wealth generation for their respective portfolios.
Here is hoping for positive developments going forward – with the BoC potentially lowering the Canadian interest rate, US inflation continuing to fall while the economy remains robust, and all my companies performing well. If they do, the share prices should follow suit and lift the portfolios higher.
Companies on the Radar
This past week, I decided to remove Evolution AB (OTCM: EVVTY) and LVMH Moët Hennessy – Louis Vuitton, Société Européenne (OTCM: LVMUY) from my radar list as I continue to trim the list. Both of these companies are based in Europe and primarily trade on European exchanges, but they also have depository receipts (DRs) trading in the US Over the Counter Market.
A DR is a certificate issued by a bank that represents shares in a foreign company traded on a local stock exchange. It essentially acts as a middleman, allowing you to invest in overseas companies without the complexities of directly dealing with foreign markets or currency exchange. When you buy a DR, you are not purchasing the foreign company’s shares directly but rather the depositary receipt, which represents ownership of those shares. Personally, I prefer to own shares in a company directly. For more information on DRs, check out this page on Depository Receipts.
This past week, I added Vertiv Holdings (NYSE: VRT) to my radar list. Vertiv is an American company that designs and builds infrastructure solutions, including power, thermal, and IT infrastructure monitoring and management. Their products and services are sold globally across various industries, particularly the rapidly growing data center and communication networks sectors.
Vertiv joins the four other companies, listed below, on my radar list.
- 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.
- Quanta Services, Ltd. (NYSE: PWR), a large-cap American company offering a wide range of specialty infrastructure solutions throughout the world
- Lumine Group (TSE: LMN), a young Canadian mid sized company that acquires communications and media software companies, and then strengthens and grows those companies.
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 31, 2024.
Portfolio Update
Portfolio 1
Portfolio 1 for the week ended May 31, 2024: DOWN 
- Apple (NASD: AAPL) reported a sales increase of 52% in China compared to a year ago. A good sign after sales in the first quarter had slumped.
- Lightspeed Commerce (TSE: LSPD) has signed a deal with Uber (NASD: UBER) to integrate Uber Direct and Uber Eats marketplace into the Lightspeed ecosystem. The deal will allow Lightspeed Merchants to list their menus on, and take orders from, Uber Eats. Lightspeed merchants will also be able to take orders from their own website and provide delivery services through Uber Direct while the merchant only pays the delivery fee. This partnership should work for both Lightspeed and Uber.
- CrowdStrike (NASD: CRWD) and Cloudflare (NASD: NET) have partnered to provide an integrated cybersecurity solution.
- Alphabet’s (NASD: GOOGL) has partnered with augmented reality startup Magic Leap. Together they are working on building immersive experiences that blend reality and the digital world. Perhaps Google is getting back into the world of augmented and virtual reality after Apple kind of made virtual reality glasses cool. 😊
Activity
Received interest on TD 1-year cashable GIC.
Bought: CN Rail (TSE: CNR) This is my second investment in CN Rail, Canada’s largest railway company. Their dominant market position and diversified revenue streams, spanning sectors like intermodal (shipping containers) and grain/fertilizers, provide stability and mitigate risks tied to individual commodities. Plus, their growing presence in the US market offers more growth potential.
While CN Rail, like most railway companies, has a higher debt level due to the capital-intensive nature of the industry, they maintain a healthy balance sheet with good management of that debt. This is reflected in their consistent track record of growing revenues, net income, and earnings per share.
Of course, there are some risks. Economic slowdowns in Canada or the US could impact revenue. Fluctuations in commodity prices and regulations in the heavily regulated rail industry could affect profitability. Additionally, competition from other rail companies and trucking firms is a factor.
However, CN Rail’s established position, consistent performance, and well-managed debt structure make it a compelling long-term holding. As long as the need for long-distance freight shipping persists, railways will remain crucial. I am confident CN Rail will maintain its dominance in North America, offering steady growth and a 2% dividend, which helps balance out the riskier parts of my portfolio.
Bought: Ferrari N.V. (NYSE: RACE)
This is my second investment in Ferrari. My initial investment was more for the thrill of being able to say I owned a piece of Ferrari. 😊 After being an owner for a few years and witnessing how well the company has performed, – strong revenue growth, a healthy 49.94% gross profit margin, and a 33% EPS increase in the last year – I decided to add to my holdings.
As well as continuing to build high performance luxury sports cars, Ferrari is strategically investing in electric vehicles (EV) with a new state-of-the-art plant for EV components. This move positions them well in the evolving automotive landscape. Their focus on innovation, brand strength, and value-over-volume strategy creates a significant competitive advantage (moat).
Of course, no investment is without risk. Ferrari’s reliance on the luxury market, potential challenges in the EV space, and stricter regulations could all impact their future performance. The current premium stock price might also limit future growth potential.
Despite the inherent risks, Ferrari’s robust financial performance, strategic investments in EV technology, and enduring brand legacy make it a compelling long-term holding. I am confident that Ferrari will continue to innovate and adapt, solidifying its position as a leader in the luxury automotive market, both for traditional and EVs.
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 $
TMX Group Ltd (TSE: X)
US $
Walmart (NYSE: WMT)
Quarterly Reports
Nano – X Imaging Ltd.
First quarter 2024 financial results on May 28, 2024
The Bank of Nova Scotia
Second quarter 2024 financial results on May 28, 2024
Costco Wholesale Corporation
Third quarter 2024 financial results on May 30, 2024
Portfolio 2
Portfolio 2 for the week ended May 31, 2024: DOWN
- Despite beating the markets’ earnings expectations, MongoDB lost roughly 32% this past week after the company lowered its full-year outlook for revenues due to a slower-than-expected start for its Atlas database product. Once again, the market reminds us that while it appreciates what a company has done, it is forward looking and does not like surprises to the downside.
- Guardant Health (NASD: GH) announced it was named to Time Magazine’s TIME100 Most Influential Companies list for their work in the cancer detection and prevention.
Activity
Sold: Chorus Aviation (TSE: CHR) I first invested in this Canadian aviation company back in September 2017 and added to my investment in July 2018. At that time, Chorus Aviation paid a decent dividend, was showing growth, and its share price was steady. However, when the pandemic hit, the company canceled its dividend, and the share price plummeted. Unlike other airlines that have since recovered, Chorus’s stock has not bounced back.
The company’s lack of growth has caused me lose interest. I believe there are now better investment opportunities with more growth potential, so I decided to cut my losses and move on.
Dividends
Dividends Received this week for the following companies:
No dividends this past week.
Quarterly Reports
The Bank of Nova Scotia
Second quarter 2024 financial results on May 28, 2024
MongoDB, Inc.
First quarter 2024 financial results on May 30, 2024
Portfolio 3
Portfolio 3 for the week ended May 31, 2024: DOWN
- Brookfield (TSE: BN) and Brookfield Renewable (TSE: BEP.UN) announced they had partnered with the Singapore sovereign wealth fund Temasek to acquire French renewable energy company Neoen (OTCM: NOSPF) for US$43.08 per share. The acquisition will help BEP.UN expand into key renewable markets and add expertise in the growing battery storage technology industry.
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 $
Enghouse Systems Ltd (TSE: ENGH)
Royal Bank of Canada (TSE: RY)
US $
No US$ dividends this past week.
Quarterly Reports
Royal Bank of Canada
Second quarter 2024 financial results on May 30, 2024