Category: Uncategorized

Monday May 5

Japan, China and U.K. markets closed

(9 a.m. ET) Canada’s S&P Global Services PMI for April.

(9:45 a.m. ET) U.S. S&P Global Services and Composite PMI for April

(10 a.m. ET) U.S. ISM Services PMI for April.

Earnings include: Baytex Energy Corp.; CT REIT; Ero Copper Corp.; Ford Motor Co.; Gibson Energy Inc.; Palantir Technologies Inc.; Parkland Fuel Corp.; RioCan REIT; TMX Group Ltd.; Topaz Energy Corp.

Tuesday May 6

Japan markets closed

China and Euro zone services and composite PMI

(8:30 a.m. ET) Canada’s merchandise trade balance for March.

(8:30 a.m. ET) U.S. goods and services trade deficit for March.

(10 a.m. ET) U.S. Global Supply Chain Pressure Index for April.

(10 a.m. ET) Canada’s Ivey PMI for April.

Also: Canadian Prime Minister Mark Carney to meet with U.S. President Donald Trump in Washington; U.S. Fed meeting begins

Earnings include: Advanced Micro Devices Inc.; Boardwalk REIT; Colliers International Group Inc.; Dream Industrial REIT; Dundee Precious Metals Inc.; First Capital Realty Inc.; George Weston Ltd.; Iamgold Corp.; Intact Financial Corp.; Kinross Gold Corp.; Marriott International Inc.; Meg Energy Corp.; Ovintiv Inc.; SSR Mining Inc.; Suncor Energy Inc.

Wednesday May 7

Japan services and composite PMI

Euro zone retail sales

Germany factory orders

(2 p.m. ET) U.S. Fed announcement with chair Jerome Powell’s press briefing to follow.

(3 p.m. ET) U.S. consumer credit for March.

Earnings include: Atco Ltd.; Barrick Gold Corp.; B2Gold Corp.; Canadian Utilities Ltd.; CCL Industries Inc.; First Majestic Silver Corp.; Fortis Inc.; Great-West Lifeco Inc.; IA Financial Corp.; Kinaxis Inc.; Manulife Financial Corp.; Novo Nordisk ADR; Nutrien Ltd.; SmartCentres REIT; Stella-Jones Inc.; Torex Gold Resources Inc.; Tourmaline Oil Corp.; TransAlta Corp.; Uber Technologies Inc.; Walt Disney Co.; WSP Global Inc.

Thursday May 8

China trade surplus

Germany industrial production and trade surplus

Bank of England monetary policy announcement.

(8:30 a.m. ET) U.S. initial jobless claims for week of May 3. Estimate is 233,000, down 8,000 from the previous week.

(8:30 a.m. ET) U.S. productivity and unit labour costs for Q1 (preliminary reading)

(10 a.m. ET) Bank of Canada’s Financial Stability Report and Financial Systems Survey are released with press conference to follow.

(10 a.m. ET) U.S. wholesale inventories for March.

Earnings include: BCE Inc.; Brookfield Corp.; Canadian Natural Resources Ltd.; CAP REIT; Canadian Tire Corp. Ltd.; Chartwell Retirement Residences; CI Financial Corp.; ConocoPhillips; Definity Financial Corp.; Emera Inc.; Franco-Nevada Corp.; Hydro One Ltd.; IGM Financial Inc.; Lundin Gold Inc.; Pembina Pipeline Corp.; Quebecor Inc.; Restaurant Brands International Inc.; Shopify Inc.; Sun Life Financial Inc.; Wheaton Precious Metals Corp.

Friday May 9

China’s aggregate yuan financing, new yuan loans and current account surplus

Japan real cash earnings and household spending

(8:30 a.m. ET) Canadian employment for April. The Street expects a month-over-month increase of 0.1 per cent, or 25,000 jobs, with the unemployment rate remaining 6.7 per cent and average hourly wages up 3.8 per cent year-over-year.

Earnings include: Air Canada; Algonquin Power & Utilities Corp.; Arc Resources Ltd.; Docebo Inc.; Enbridge Inc.; Lassonde Industries Inc.; NuVista Energy Ltd.; Onex Corp.; Orla Mining Ltd.; Telus Corp.

Imperial Oil Ltd. reported a first-quarter profit of $1.29 billion, up from $1.20 billion in the same quarter last year. The company says the profit amounted to $2.52 per diluted share for the quarter ended March 31, up from $2.23 per diluted share a year earlier. The result came as Imperial’s total revenue and other income amounted to $12.52 billion for the quarter, up from $12.28 billion in the same quarter last year. Imperial says upstream production in the quarter averaged 418,000 gross oil-equivalent barrels per day, down from 421,000 gross oil-equivalent barrels per day a year earlier. Downstream throughput in the quarter averaged 397,000 barrels per day, with overall refinery capacity utilization of 91 per cent, compared with 407,000 barrels per day and 94 per cent utilization a year ago. Chief executive Brad Corson says Imperial’s upstream business continued to benefit from improved egress and narrower heavy oil differentials, while downstream profitability “continued to reflect the structural advantages of the Canadian market.” This report by The Canadian Press was first published May 2, 2025. Companies in this story: (TSX:IMO)

Canadian National Railway Co. CNR-T +4.31%increase says profits rose five per cent in its latest quarter as the country’s biggest railroad operator worked through a trade war set off by U.S. President Donald Trump.

CN is reporting net income rose to $1.16 billion in the first quarter, from $1.10 billion the year before.

The Montreal-based company says revenues increased four per cent to $4.40 billion in the three months ended March 31 from $4.25 billion in the same period a year earlier.

It says diluted earnings per share jumped nearly eight per cent to $1.85 from $1.72.

The railway says cargo volumes – as measured in revenue ton miles, a key metric gauging how many tons of freight are hauled in a mile – increased one per cent year-over-year.

In a release Thursday, CN said its financial forecast for 2025 remains unchanged, but stressed the “heightened recessionary risk related to tariffs and trade actions” taken by the U.S. and other countries.

Magna International Inc. MG-T -3.73%decrease reported its first-quarter profit rose compared with a year ago as sales decreased.

The auto parts company says its profit attributable to the company was US$146-million, compared with $9-million during the same period a year ago.

The auto parts company, which keeps its books in U.S. dollars, says its profit amounted to 52 cents US per diluted share for the quarter ended March 31, up from three cents US per diluted share in the first three months of 2024.

Sales for the quarter totalled US$10.1-billion, down from US$11-billion a year earlier.

On an adjusted basis, Magna says it earned 78 cents US per diluted share in its latest quarter, down from an adjusted profit of US$1.08 per diluted share a year earlier.

In its revised outlook for 2025, Magna says it now expects total sales between US$40-billion and US$41.6-billion, and adjusted net income attributable to Magna of US$1.3-billion to US$1.5-billion for the year.

General Motors Co. GM-N +0.20%increase said it will cut production at its pickup-truck plant in Oshawa, Ont., by the fall, a move the union says will result in more than 2,000 job losses at the plant and at parts suppliers.

Detroit-based GM said on Friday morning it is cutting one of three shifts at the factory east of Toronto “in light of forecasted demand and the evolving trade environment.” The plant makes Chevrolet Silverado trucks, which are also produced in Mexico and the United States.

U.S. President Donald Trump on April 3 imposed 25-per-cent tariffs on Canadian- and Mexican-made vehicles, based on their non-U.S. content.

Eliminating one shift cuts more than 700 GM hourly positions, said Jeff Gray, president of the Unifor local at the plant. The cuts also affect 1,500 to 2,000 employees at parts suppliers that operate within the plant and at other factories.

U.S. gives Canadian auto parts makers a tariff break

Unifor plant chairperson Chris Waugh called the news “very upsetting” for the workers. “It’s been quite the morning.”

He said the workers need federal and provincial politicians to find a way to convince the U.S. administration to end its tariff war. The move opens the door for the U.S.-based automakers to leave Canada entirely, he said.

“I need the political parties to step up,” Mr. Waugh said by phone. “Get in touch with Donald Trump, meet him, fix the tariffs. Mark Carney needs to hold a meeting with the Big 3 auto executives and fix this.”

GM said in a statement the plant will focus on building trucks for the Canadian market. “GM has been building vehicles in Canada since 1918, and we are implementing a plan to keep building here for Canadians for another 100-plus years,” GM said.

Unifor national president Lana Payne said in a statement, “Trump’s tariffs are designed to crush Canadian production – but GM doesn’t get a free pass to abandon its commitments, and the U.S. doesn’t get to free ride in Canada.”

“GM has had strong support from workers, the community, and governments. Canadians invested millions to revive this plant. Cutting jobs now has consequences. The company has six months to fix this.”

GM employs about 3,000 workers at the Oshawa assembly plant.

The automaker recently hired hundreds of people to boost annual production of the Silverado by 50,000 at its plant in Fort Wayne, Ind., Mary Barra, GM’s chief executive officer, said on Thursday. The increase allows GM to avoid paying tariffs on imported vehicles, she said, without naming Oshawa. GM also makes the Silverado model in Flint, Mich., and Silao, Mexico.

The Oshawa plant, built more than a century ago, has seen tough times in recent years. The plant closed in 2019, eliminating 2,300 GM jobs and thousands more at suppliers. The plant reopened in 2021 to meet surging demand for pickup trucks in the U.S.

GM’s CAMI assembly plant in Ingersoll, which produces Chevrolet BrightDrop electric cargo vans, is reopening for a brief period on Monday after closing in April. The plant will remain mostly closed until October, resulting in the loss of 500 of the 1,300 hourly jobs.

On Thursday, Stellantis NV said its minivan assembly plant in Windsor, Ont., will close for a week beginning on May 5, putting 3,800 workers on temporary layoff. The plant was closed for two weeks in April, a move the company said it made while it assessed the effect of the tariffs.

• Nonfarm payrolls increased a seasonally adjusted 177,000 for the month, slightly below the downwardly revised 185,000 in March but above the Dow Jones estimate for 133,000.
• The unemployment rate, however, stayed at 4.2%, as expected, indicating that the labor market is holding relatively stable.
• Average hourly earnings rose just 0.2% for the month, below the 0.3% forecast, while the annual rate of 3.8% also was 0.1 percentage point less than expected

https://www.cnbc.com/2025/05/02/jobs-report-april-2025.html

Reiterating 2025 Guidance and Robust Long-term Growth Outlook

CALGARY, AB, May 1, 2025 /CNW/ – AltaGas Ltd. (“AltaGas” or the “Company”) (TSX:ALA.TO) reported first quarter 2025 financial results and provided an update on its operations, projects and other corporate developments.

Read more at newswire.ca

TC Energy Corporation (TRP) on Thursday reported first-quarter net income of $700.7 million.

The Calgary, Alberta-based company said it had net income of 65 cents per share. Earnings, adjusted for non-recurring costs, came to 66 cents per share.

The results missed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 70 cents per share.

The energy infrastructure company posted revenue of $2.52 billion in the period, which also did not meet Street forecasts. Three analysts surveyed by Zacks expected $2.54 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research.

Access a Zacks stock report on TRP at https://www.zacks.com/ap/TRP

Cameco Corp. CCO-T +1.29%increase reported a first-quarter profit as its revenue rose compared with a year ago, citing strong production of uranium and fuel services.

The company says it earned a profit attributable to equity holders of $70-million or 16 cents per diluted share for the quarter ended March 31, compared with a loss of $7-million or two cents per diluted share a year earlier.

On an adjusted basis, Cameco says it earned 16 cents per diluted share in its latest quarter, up from an adjusted profit of 11 cents per diluted share a year earlier.

Revenue for the quarter totalled $789-million, up from $634-million a year earlier.

Uranium production totalled 6.0 million pounds for the quarter, up from 5.8 million a year earlier, while sales volumes amounted to 6.9 million pounds, down from 7.3 million pounds. Cameco’s average realized price for uranium was $89.12 per pound, up from $77.33 a year earlier.

Cameco’s fuel services business saw production of 3.9 million kilograms, up from 3.7 million a year earlier, while fuel services sales volumes totalled 2.4 million kilograms, up from 1.5 million kilograms. Fuel services reported an average realized price of $56.64 per kilogram, up from $48.36 in the first quarter of 2024.