Your Weekly Financial Market Recap and Earnings Preview.

Vikki Zhao and Olena Li

PUBLISHED Mon, Feb 20, 2024, 13:35 PM EST. 6 min read.

Canadian Business News


Statistics Canada will release Tuesday its latest reading for inflation when it is expected to publish its consumer price index for January. The consumer price index rose 3.4 per cent on a year-over-year basis in December, following a 3.1 per cent increase in November.


Gildan Activewear Inc. will release its fourth-quarter and full-year earnings before markets open on Wednesday and hold a conference call with financial analysts. Gildan has been embroiled in a fight with shareholders who are seeking the return of founder Glenn Chamandy as the company’s chief executive.


Suncor Energy Inc. will release its fourth-quarter and full-year results on Wednesday evening followed by a conference call with investment analysts on Thursday morning. The state of Colorado fined the company earlier this month US$10.5 million for air pollution violations between July 2019 and June 2021.


Loblaw Cos. Ltd. is scheduled to release its fourth-quarter and full-year results and hold a conference call to discuss the report on Thursday morning. The earnings come as the grocery industry faces scrutiny about the cost of food.


Teck Resources Ltd. will report its fourth-quarter and full-year results and hold a conference call with investors on Thursday morning. The company said last month that its copper production for 2023 fell short of its guidance for the year, while its zinc production also came in slightly below its expectations.

This report by The Canadian Press was first published Feb. 18, 2024.

Stock Market Today

The S&P 500 experienced a slight decline of 0.3% early on Tuesday, marking it as only the second time in the last 16 weeks that the index has faced a downturn. The downturn was primarily driven by losses in the technology sector, contributing to a 0.8% fall in the Nasdaq composite.

Meanwhile, the Dow Jones Industrial Average fared slightly better with a minor decrease of 0.1%, largely buoyed by a significant 5% rise in Walmart shares. This surge came in response to Walmart’s announcement of better-than-anticipated quarterly results and sales projections that surpassed Wall Street expectations.

The retail giant from Arkansas also revealed its acquisition of the smart TV manufacturer Vizio for $2.3 billion on Tuesday, following a robust performance in sales and profit that lifted its shares by 2.7% before the market opened.

On another note, Home Depot saw its shares decline by approximately 2% after projecting a tepid outlook for the year. The forecast comes at a time when high interest rates have dampened the housing market, reducing the propensity of new homeowners to invest in home improvements due to the increased financial burden of monthly mortgage payments caused by elevated rates.

Weekly Earning Releases

The most anticipated earnings releases for the week of February 19, 2024 are NVIDIA #NVDA, Block #SQ, Palo Alto Networks #PANW, Walmart #WMT, Rivian Automotive #RIVN, Etsy #ETSY, Vertiv #VRT, MercadoLibre #MELI, Carvana #CVNA, and Home Depot #HD



Highest Volatility Earnings Releases for the week beginning

This report by The EarningsWhisper was first published on Feb. 19, 2024.

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