Featured in this report

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Featured in this report

Midday market performance update Canadian equities:

 Market summary

 Companies in the news: EQX

U.S. equities:

 Market summary

 Companies in the news: JNJ, NVDA

International equities:

 Market summary

 Company in the news: UL

Midday market performance update

S&P 500 NASDAQ S&P/TSX Index Stoxx Europe 600 Nikkei 225 Shanghai Comp

-2.0% -2.9% -1.4% 0.7% -1.7% -2.6%

3,433 Intraday returns

4,323 13,450 20,278 460 27,131

Bar charts display current values relative to 52-week ranges.

0.79Low

1.79%

High1.9

0.99Low

1.76%

High1.9

0.77Low

$0.79

High0.83

1676.89Low

$1848.73

1916.64High Low 51.64

$85.12 87.91High 101.38Low

107.14

108.75High

Canada 10-year yield U.S. 10-year yield

CAD/USD USD (trade-weighted)

Gold WTI (oil)

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Canadian equities

 Canadian equities, as measured by the S&P/TSX Composite Index, started the session higher but dropped to red by midday.

 Ten of the Index’s eleven sectors are in the red, with the Energy sector being the only one seeing gains today.

In corporate news:

Equinox Gold Corp. (EQX)

< Equinox Gold dropped 3.6% in premarket in New York trading after releasing its annual gold production. The company plans to produce 625,000-710,000 ounces of gold in F2022, representing 11% growth at the midpoint over last year's production of 602,100 ounces. Costs are estimated to be between US$1,330- US$1,415 per ounce. EQX's CEO stated that the guidance represents the fourth consecutive year of production growth and includes production that will come from the company's new Santa Luz mine in Brazil.

Production is forecast to increase quarter over quarter, with 60% of gold production and more than 85% of operating cash flow anticipated in the second half of the year.

S&P/TSX biggest movers

Last price %∆

Turquoise Hill Resources Ltd 22.14 15.8% 15.8%

Vermilion Energy Inc 19.00 3.1% 3.1%

Intertape Polymer Group Inc 25.31 2.8% 2.8%

Crescent Point Energy Corp 7.94 2.2% 2.2%

Silvercrest Metals Inc 9.94 2.1% 2.1%

Shopify Inc 1,072.98 -9.7% 9.7%

Organigram Holdings Inc 1.72 -6.0% 6.0%

Lightspeed Commerce Inc 36.09 -5.7% 5.7%

Equinox Gold Corp 8.22 -5.6% 5.6%

Kinaxis Inc 147.05 -5.6% 5.6%

S&P/TSX Composite Index Intraday (11:50PM)

Level Pts Chg % Chg

20,278 -293.0 -1.4%

Issues

< Advancing 24

< Declining 197

< Unchanged 2

Index stats:

< 1-yr return 13.2%

< P/E 18.3x

< Dividend yield 2.9%

0 300 600 900

16,000 18,000 20,000 22,000

Jan Apr Jul Oct Jan

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U.S. equities

 U.S. equities, as measured by the S&P 500 Index, reached a peak but fell to red midday.

 Ten of the index’s eleven sectors are lower, with the Energy sector being the only one in the green.

In corporate news:

Johnson & Johnson (JNJ)

< Johnson & Johnson reported its 4Q21 results, which missed sales and pre-tax profit but beat EPS expectations due to below-the-line items, and released its FY22 guidance which came in above consensus estimates. Sales grew 10.4% on a reported basis and 12.3% on an organic constant currency basis, however all three divisions missed consensus sales estimates. JNJ’s forward guidance implies an organic growth of 7% along with Covid vaccine sales of $3.35 billion. The company anticipates some disruptions to their Consumer Business for the first half of 2022 due to external supply chain issues, but overall expects market recovery throughout the year.

JNJ expects its pharmaceuticals division to deliver another year of above-average market growth.

Nvidia Corp. (NVDA)

< The slow progress made on the regulatory front has caused rising speculation that Nvidia’s acquisition of ARM may not close, and SoftBank might take ARM public instead. However, final decisions have yet to be handed down and both companies have publicly maintained commitment to the transaction. This $40 billion acquisition, which was announced in September 2020, was criticized by regulators and the chip industry, arguing that Nvidia would become too powerful if it gained control of ARM’s chip technology and design. The initial agreement between Nvidia and SoftBank expires on September 13, 2022 but will automatically renew if approval takes longer. The transaction had previously been expected to close by March 2022.

S&P 500 biggest movers

Last price %∆

American Express Co 171.29 7.8% 7.8%

Zions Bancorp Na 66.02 5.2% 5.2%

Halliburton Co 29.89 4.5% 4.5%

Occidental Petroleum Corp 35.29 3.8% 3.8%

Apa Corp 31.66 3.7% 3.7%

General Electric Co 90.16 -7.0% 7.0%

Etsy Inc 143.66 -6.8% 6.8%

Servicenow Inc 490.53 -6.7% 6.7%

Nextera Energy Inc 76.42 -6.7% 6.7%

Ceridian Hcm Holding Inc 72.47 -6.7% 6.7%

S&P500 Index Intraday (11:50PM)

Level Pts Chg % Chg

4,323 -87.5 -2.0%

Issues

< Advancing 52

< Declining 452

< Unchanged 0

Index stats:

< 1-yr return 12.1%

< P/E 23.6x

0 500 1,000 1,500 2,000 2,500

3,500 4,000 4,500 5,000

Jan Apr Jul Oct Jan

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International equities

 European equities, as measured by the Stoxx Europe 600 Index, have been steady and are in the green midday.

 Sixteen of the index’s twenty sectors closed higher, with the Banking sector in the lead.

In corporate news:

Unilever PLC (UL)

< This morning, Unilever provided an update on the nature of its reorganization to simplify its structure and enable growth, organizing itself into five groups: Beauty & Wellbeing, Personal Care, Home Care, Nutrition, and Ice Cream. Each business group will be fully responsible and accountable for its strategy, growth, and profit to consumer and channel trends. This announcement follows yesterday’s news that activist fund Trian Fund Management has a stake in UL. The reorganization will reduce 1,500 roles on a global basis, ~15% in senior management and ~5% in junior management. All costs related to setting up the new divisions will be managed within the existing restructuring investment plans. There will be changes in the leadership team of these new five groups, with new appointments coming from internal hires.

Stoxx Europe 600 biggest movers

Last price %∆

Telefonaktiebolaget Lm Ericsson 108.02 7.6% 7.6%

Fresenius Medical Care Ag & Co Kgaa 59.68 6.6% 6.6%

Technipfmc Plc 5.72 6.2% 6.2%

Logitech International Sa 70.46 6.1% 6.1%

Millicom International Cellular Sa 250.00 5.1% 5.1%

Orpea Sa 55.18 -20.4% 20.4%

Netcompany Group A/S 481.40 -15.0% 15.0%

Leonardo Spa 6.23 -5.7% 5.7%

Adevinta Asa 86.66 -5.2% 5.2%

Atlas Copco Ab 516.00 -5.1% 5.1%

Stoxx Europe 600 Index (Market Closed)

Level Pts Chg % Chg

460 3.2 0.7%

Issues

< Advancing 365

< Declining 234

< Unchanged 1

Index stats:

< 1-yr return 13.4%

< P/E 18.8x

0 2,000 4,000 6,000

380 420 460 500

Jan Apr Jul Oct Jan

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