Thursday Morning Stocks To Watch

Canadian stocks may enjoy a rebound. After falling throughout this year, BlackBerry (BB) posted an unexpected Q4 profit. It earned 3 cents per share when its cybersecurity unit's revenue rose by 5% Y/Y to $92 million.

Canadian telecom giants are not as lucky. While U.S. firms like Verizon (VZ) and AT&T (T) are rising, BCE (BCE) is down by 16.25% YTD. BCE stock yields 8.96% in dividends. BMO Capital Markets downgraded BCE, citing old news such as weak growth and competitive pressures in its wireless and wireline businesses. Investors should also avoid Telus (TU) and Rogers (RCI) today.

Yesterday, reports surfaced that Paramount Global's controlling shareholder, Shari Redstone, would sell her stake to Skydance Media. After PARA stock gained ~ 15% on Wednesday, look for a pullback today.

In the energy sector, oil prices continue to rise. OPEC+ will maintain limited output through June. Investors who missed the energy stock rally should wait for a pullback. Shares of Shell (SHEL), DT Midstream (DTM), Energy Transfer (ET), and Phillips 66 (PSX) already trade at a premium.

After a rough start to Q2, markets will try to build on hints from Powell's prepared remarks yesterday. The Fed Chair said inflation is moving sustainably down to its 2% target. Powell is dovish. He said the recent hot inflation data does not materially change the solid growth outlook. Nasdaq and the S&P 500 (SPY) will try to build on yesterday's trading momentum. The Russell 2000 (IWM), which added 0.88%, may also take back the $210 level.

• About Us
• Contact Us
• Advertise
• License Our Content
• Jobs
• Disclaimer
• Privacy Policy

Copyright 1998 - 2024 Baystreet Media Corp. All rights reserved. Nasdaq Stocks: Information delayed 15 minutes. Non-Nasdaq Stocks: Information delayed 20 minutes. Bid and Ask quotation information for NYSE and AMEX securities is only available on a real time basis. Market Data is provided by QuoteMedia. Earnings by Zacks. Analyst Ratings by Zacks

MENAFN04042024000212011056ID1108059099