Making sense of the markets this week: November 6, 2022

Shareholders appreciated what Canadian Pure Sources needed to say probably the most, as the corporate introduced it was elevating its dividend by 13%, making it a 45% improve general this yr. With the refill a whopping 50% this yr, it appears like buyers are actually digging the dedication to passing earnings on instantly.

Suncor determined to take a special path than their oil sands brethren, CNQ. Moderately than decide to passing all of their oil earnings on to shareholders, administration accomplished a serious acquisition of Teck Useful resource’s oil sands properties. With rumored buyouts of CNOOC and Sinopec’s oil sands property, it’s clearly doubling down on their standing as bitumen bulls for the long run. Shareholders seem to reply lukewarmly to the acquisition, and it stays to be seen if the dedication to grease sands manufacturing will repay down the street.

By far the most important shock for me personally this earnings season was Nutrien. Whereas the corporate forecasted that potash demand was edging downward, the market was shocked by its large earnings miss, and punished the corporate with a 14% hit to its shareprice on Thursday. That mentioned, the inventory remains to be up over 7% year-to-date and 17% during the last 12 months. 

Technical help points for U.S. tech shares

U.S. tech shares proceed to see important volatility, even within the face of strong earnings outcomes. These high-multiple shares simply proceed to return again right down to Earth, because it appears like increased rates of interest could be with us for some time.

Right here’s a take a look at this week’s earnings information. (All figures on this part are in U.S. forex.) 

Airbnb (ABNB/NASDAQ): Earnings per share of $1.79 (versus $1.44 predicted) and revenues of $2.88 billion (versus $2.84 billion predicted).

Uber (UBER/NYSE): Loss per share of $0.61 (versus a lack of $0.22 predicted) and revenues of $8.34 billion (versus $8.12 billion predicted).

eBay (EBAY/NASDAQ): Earnings per share of $1.00 (versus $0.93 predicted) and revenues of $2.four billion (versus $2.33 billion predicted).