‼️ Walmart beats analyst expectations 🏡Home depot posts comparable sales growth in Q3 💵Ontario cuts deficit projection Here's what you need to know today:
We've got some fresh signs of life in the consumer sector this morning as a pair of retailing giants report. To start, shares of Walmart have gained about six per cent in premarket trading after the world's largest brick-and-mortar retailer topped quarterly sales expectations, raised its full-year forecast and announced a US$20 billion buyback plan. There are some flies in the ointment, as always: transactions were up 2.
I was going to make it one blurb, but Walmart took up too much space. In any case, we've also got an earnings beat out of Home Depot – the company posted third quarter comparable sales growth of 4.3 per cent, easily exceeding expectations. However, in contrast to Walmart, it merely reaffirmed its forecast for this year, rather than raising it, leading to a muted reaction in premarket trading – shares were down just shy of one per cent at last check.
Bill Ackman is loading up on shares of CP Rail. According to a 13F filing, Ackman's Pershing Square boosted its stake to more than 15 million shares in the last quarter, a massive increase from the two million or so shares it previously owned. Bit of a talker from friend of the channel Paul Kershaw over at UBC and Generation Squeeze. According to a new poll, the majority of respondents support a modest levy on homes worth north of a million dollars
An interesting read from our Bloomberg News colleague Jen Skerritt for any beer drinkers out there There's apparently a market “hangover” due to the 30 per cent surge in barley prices since August as dry, hot weather scorched fields.Notable data: Manufacturing Sales & Orders, Wholesale Trade, Existing Home Sales, MLS Home Price Index, U.S.
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