THUNDER BAY – BUSINESS – This week saw mixed results in the stock markets, as the Toronto Stock Exchange (TSE), Dow Jones Industrial Average (DJIA), and the New York Stock Exchange (NYSE) experienced fluctuations.
While some companies achieved substantial gains due to robust earnings reports and favorable industry news, others faced setbacks amid regulatory pressures and declining consumer demand. Here, we break down the week’s top winners and losers across these major indexes.
Toronto Stock Exchange (TSE)
Top Gainers
- Brookfield Asset Management Ltd. (BAM-A.TO)
Weekly Gain: +8.9%
Brookfield saw a notable increase in stock price after reporting better-than-expected earnings, thanks to gains from its renewable energy and infrastructure divisions, which continue to show resilience amid economic uncertainties. - Canadian Natural Resources Ltd. (CNQ.TO)
Weekly Gain: +7.5%
A rebound in oil prices boosted Canadian Natural Resources, with increased investor confidence in the energy sector following OPEC+ announcements hinting at production cuts. - Nutrien Ltd. (NTR.TO)
Weekly Gain: +6.3%
Nutrien surged after reporting strong demand in its agricultural products division, driven by heightened global demand for fertilizers.
Top Losers
- Shopify Inc. (SHOP.TO)
Weekly Loss: -5.7%
Shopify shares fell amid investor concerns over slowing e-commerce growth and increased competition from larger U.S. platforms like Amazon. - Manulife Financial Corporation (MFC.TO)
Weekly Loss: -4.2%
Despite steady performance in its core insurance division, Manulife faced market pressures over rising interest rates, impacting its bond portfolio valuations. - Air Canada (AC.TO)
Weekly Loss: -3.8%
Rising fuel costs weighed on Air Canada, as the airline industry faces increasing operational costs, creating concerns about profit margins.
Dow Jones Industrial Average (DJIA)
Top Gainers
- Apple Inc. (AAPL)
Weekly Gain: +5.5%
Apple rose after releasing its latest quarterly results, which highlighted impressive iPhone sales despite challenges in the broader tech market. Investors responded positively to Apple’s focus on premium products and services growth. Apple just released several new updates, including the new Mac Mini M4 and M4 Pro Silicon chip. The market is looking at Apple Intelligence as well. - Caterpillar Inc. (CAT)
Weekly Gain: +5.1%
Caterpillar’s stock rallied following reports of higher demand in construction and mining equipment, particularly in Asia, which offset slower growth in North America. - Johnson & Johnson (JNJ)
Weekly Gain: +4.7%
Strong performance in J&J’s pharmaceutical division and favorable developments in its pipeline of new treatments contributed to a healthy stock gain.
Top Losers
- Goldman Sachs Group Inc. (GS)
Weekly Loss: -6.1%
Goldman Sachs saw a decline due to regulatory pressures and a disappointing earnings report driven by a slowdown in its asset management division. - Intel Corporation (INTC)
Weekly Loss: -5.8%
Intel struggled amid chip market challenges, with ongoing global supply chain issues impacting production schedules and increasing costs. - McDonald’s Corporation (MCD)
Weekly Loss: -4.4%
McDonald’s faced a drop after reporting weaker-than-expected domestic sales, with inflation impacting customer spending habits, particularly in fast food.
New York Stock Exchange (NYSE)
Top Gainers
- Exxon Mobil Corporation (XOM)
Weekly Gain: +6.9%
Exxon saw gains as oil prices rose, with investor sentiment buoyed by strong quarterly earnings and new exploratory drilling projects that showed positive initial results. - Procter & Gamble Co. (PG)
Weekly Gain: +5.2%
P&G’s growth was fueled by robust demand for household goods, which remains steady despite inflationary pressures on consumers. - American Tower Corporation (AMT)
Weekly Gain: +4.8%
With the expansion of 5G networks globally, American Tower reported increased demand for its cellular towers and infrastructure services.
Top Losers
- AT&T Inc. (T)
Weekly Loss: -6.3%
AT&T struggled amid growing competition in the telecommunications sector and investor concerns about long-term debt impacting future profitability. - Boeing Co. (BA)
Weekly Loss: -5.6%
Supply chain delays and higher material costs impacted Boeing, as the company works to ramp up production on key aircraft models. - Pfizer Inc. (PFE)
Weekly Loss: -4.9%
Despite a strong pharmaceutical portfolio, Pfizer’s stock dropped due to concerns about the waning demand for COVID-19 treatments and vaccines, impacting revenue forecasts.
Top Overall Earners
- Apple Inc. (AAPL) – Benefited from iPhone sales and steady services growth.
- Canadian Natural Resources Ltd. (CNQ.TO) – Gained from the rebound in oil prices and strong quarterly performance.
- Exxon Mobil Corporation (XOM) – Leveraged rising oil prices and impressive exploratory success.
Conclusion
This week’s market activities reflected a blend of optimism and caution, with earnings reports revealing key winners and losers in the energy, technology, and pharmaceutical sectors. Rising oil prices buoyed Canadian and U.S. energy companies, while tech and airline industries faced pressures. As earnings season continues, investors are watching sector-specific trends closely, with attention on inflationary impacts and regulatory developments that could shape performance in the weeks ahead.
