Latest news with #TDSecurities
Business Insider
9 hours ago
- Business
- Business Insider
TD Securities Remains a Hold on Darden Restaurants (DRI)
TD Securities analyst maintained a Hold rating on Darden Restaurants (DRI – Research Report) yesterday and set a price target of $215.00. The company's shares closed yesterday at $225.78. Confident Investing Starts Here: In addition to TD Securities, Darden Restaurants also received a Hold from Stephens's Jim Salera in a report issued yesterday. However, on the same day, Stifel Nicolaus reiterated a Buy rating on Darden Restaurants (NYSE: DRI). Based on Darden Restaurants' latest earnings release for the quarter ending February 23, the company reported a quarterly revenue of $3.16 billion and a net profit of $323.4 million. In comparison, last year the company earned a revenue of $2.97 billion and had a net profit of $312.9 million Based on the recent corporate insider activity of 80 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of DRI in relation to earlier this year. Most recently, in April 2025, Charles Sonsteby, a Director at DRI sold 8,005.00 shares for a total of $1,637,422.75.
Bloomberg
6 days ago
- Business
- Bloomberg
Yuan May Extend Drop Versus Peers as Beijing Seeks Exports Boost
China's desire to boost exports at a time of global trade turmoil means the yuan now looks set to weaken against most major currencies. One possible exception: the dollar. The yuan may fall as much as 3% in the short term versus an official currency basket, according to Oversea-Chinese Banking Corp., while TD Securities sees a drop nearer to 4%. The basket, tracked by the CFETS RMB Index, measures the yuan's performance against the currencies of 25 major trading partners, including the dollar. It slipped to the lowest level since 2020 this month.
CNBC
13-06-2025
- Business
- CNBC
Where oil prices may go next, based on a history of Middle East conflicts
The spike in oil prices may soon stall and reverse course if the Israel-Iran conflict does not widen, according to historical data examined by TD Securities. Daniel Ghali, a senior commodity strategist at the firm, said in a note to clients that the initial moves in oil markets already put this week's developments on par with the average comparable event since the 1980s. "Historically, geopolitical risks typically faded within one month, and completely evaporated within six months, in line with subsequent macroeconomic headwinds and deployment of spare capacity. Expanded wars (incl. involving USA) have a more significant impact," Ghali said. In 14 similar events since 1948 identified by TD, it took an average of 2.36 months for oil prices to peak, with an average increase of 17%. However, that includes a 135% spike around the Yom Kippur War in 1973. Focusing only on events after 1980 shows a smaller average advance for oil prices. By comparison, West Texas Intermediate crude oil futures rose more than 8% on Friday. Prices have risen by more than 20% in all of June thus far, and some of the run-up before the conflict could be due in part to traders anticipating rising tensions. What happens over the weekend could play a big role in whether the spike in oil continues. Oil prices moved higher intraday Friday after Iran launched retaliatory missiles toward Israel. In particular, traders will be looking to see if oil infrastructure such as production platforms, pipelines or refineries are damaged in any back-and-forth exchanges between the two nations. Most Wall Street commentary from major investment banks pointed toward a narrow conflict and a short, limited move in oil prices. One outlier was Piper Sandler's global energy strategist Jan Stuart, who said in a note to clients, "we would not fade any oil price rally; this is war." Another variable to consider is the Organization of Petroleum Exporting Countries, or OPEC. A change in production from this group could offset or exacercebate the price impact of an Israel-Iran conflict. "Iranian crude grades may be replaced by Middle Eastern grades, but given regional politics, OPEC nations may hesitate to capitalize on weaker Iranian exports by ramping up the speed at which voluntary production cuts are unwound," Ghali said. — CNBC's Michael Bloom contributed reporting.
Yahoo
13-06-2025
- Business
- Yahoo
DOLLARAMA ANNOUNCES PRIVATE OFFERING OF $600 MILLION SENIOR UNSECURED NOTES
/NOT FOR RELEASE OVER US NEWSWIRE SERVICES OR DISSEMINATION IN THE US/ MONTREAL, June 12, 2025 /CNW/ - Dollarama Inc. (TSX: DOL) ("Dollarama" or the "Corporation") announced today that it has priced an offering (the "Offering") of $600 million aggregate principal amount of 3.850% senior unsecured notes due December 16, 2030 (the "Notes"). The Notes are being offered through an agency syndicate consisting of RBC Dominion Securities Inc., National Bank Financial Markets and TD Securities Inc., as Joint Bookrunners, CIBC World Markets Inc., as Joint Lead Manager, and including Desjardins Securities Inc., Scotia Capital Inc., BMO Nesbitt Burns Inc., Merrill Lynch Canada Inc., and Casgrain & Company Limited. The Offering is expected to close on or about June 16, 2025, subject to customary closing conditions. The Notes will be issued at par for aggregate gross proceeds of $600 million and will bear interest at a fixed rate of 3.850% per annum, payable semi-annually, until maturity on the 16th day of June and December of each year, commencing on December 16, 2025. The Corporation intends to use the net proceeds of the Offering to repay the $250 million aggregate principal amount of the Corporation's outstanding 5.084% senior unsecured notes due October 27, 2025 which will be repaid in full at maturity, and for general corporate purposes. The Notes will be direct unsecured obligations of Dollarama and will rank pari passu with all other unsecured and unsubordinated indebtedness of Dollarama. The Notes have been assigned a provisional rating of BBB (high), with a stable trend, by DBRS Limited, and are being offered in Canada on a private placement basis in reliance upon exemptions from the prospectus requirements under applicable securities legislation. The Notes have not been and will not be qualified for sale to the public under applicable securities laws in Canada and, accordingly, any offer and sale of the Notes in Canada will be made on a basis which is exempt from the prospectus requirements of such securities laws. The Notes have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or the securities laws of any other jurisdiction, and may not be offered or sold in the United States absent registration under, or an applicable exemption from the registration requirements of, the U.S. Securities Act. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any offer to sell or a solicitation of an offer to buy the Notes in any jurisdiction where it is unlawful to do so. Forward-Looking Statements Certain statements in this press release about the timing and completion of the Offering, the expected use of the net proceeds of the Offering, and any other future events or developments constitute forward-looking statements. Forward looking statements are based on information currently available to management and on estimates and assumptions made by management in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors that are believed to be appropriate and reasonable in the circumstances. However, there can be no assurance that such estimates and assumptions will prove to be correct. Many factors could cause future events or developments to differ materially from those expressed or implied by the forward-looking statements, including, without limitation, the factors discussed in the "Risks and Uncertainties" section of the Corporation's annual management's discussion and analysis (MD&A) for the fiscal year ended February 2, 2025 and for the first quarter ended May 4, 2025 and in the Corporation's other continuous disclosure filings, which are available on SEDAR+ at These factors are not intended to represent a complete list of the factors that could affect us; however, they should be considered carefully. The purpose of the forward-looking statements is to provide the reader with a description of management's expectations regarding the Offering and other future events, and may not be appropriate for other purposes. The closing of the Offering is subject to general market and other conditions and there can be no assurance that the Offering will be completed or that the terms of the Offering will not be modified. Readers should not place undue reliance on forward-looking statements made herein. Furthermore, unless otherwise stated, the forward-looking statements contained in this press release are made as at June 12, 2025, and the Corporation has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement. About Dollarama Founded in 1992 and headquartered in Montréal, Quebec, Canada, Dollarama is a recognized Canadian value retailer offering a broad assortment of consumable products, general merchandise and seasonal items both in-store and online. With stores in all Canadian provinces and two territories, our 1,638 locations across Canada provide customers with compelling value in convenient locations, including metropolitan areas, midsized cities and small towns. Our quality merchandise is sold at select fixed price points up to $5.00. Dollarama also owns a 60.1% interest in Dollarcity, a growing Latin American value retailer. Dollarcity offers a broad assortment of consumable products, general merchandise and seasonal items at select, fixed price points up to US$4.00 (or the equivalent in local currency) in 644 conveniently located stores in Colombia, Guatemala, El Salvador and Peru. SOURCE Dollarama Inc. View original content: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
12-06-2025
- Business
- Bloomberg
US Economy Has Been 'Relying on Kindness of Strangers' For 3 Years
Jayati Bharadwaj, FX and macro strategist at TD Securities, breaks down why the US Dollar has remained weak, even as other economic indicators are strong amid Trump's trade war. (Source: Bloomberg)
