top of page
  • Writer's pictureLucas Friesen

Market Summary: January 18, 2024

The TSX was up today by 61.71 points. In the U.S., the Dow Jones increased 201.94 points. Bitcoin got pummeled today and, as of writing, is down $1,439 (U.S.) to $41,267 (U.S.) per bitcoin.


BCE Inc. and Best Buy Canada have partnered to rebrand The Source as Best Buy Express. This covers 165 small-format consumer electronics retail stores in Canada. BCE, owner of the communications company Bell, has a market capitalization of $51.1-billion.


Telus Corp. has released a Stream+ bundle that will allow you to access Netflix, Disney+ and Prime Video in one package starting at $20 per month. Telus has a market cap of $36.13-billion.


Orla Mining Ltd. drilled 76 metres of 0.85 gram per tonne gold at its Camino Rojo project in Mexico. The company also drilled 0.48 g/t Au over 67 m and 1.09 g/t Au over 21 m at the project. The company has a market cap of $1.4-billion.


Fortuna Silver Mines Inc. released its 2023 production results. The company produced 452,389 ounces of gold equivalent. Fortuna’s gold production was above its 2023 guidance by 6,638 ounces. However, its silver production was below its 2023 guidance by 416,309 ounces. Fortuna has a market cap of $1.3-billion.


After Wednesday’s close, Haivision Systems Inc. released its fiscal 2023 results. The company lost $1.26-million on revenue of $139.85-million, which compares with a loss of $6.19-million on revenue of $125.69-million in 2022. The company has current assets of $59.6-million, which is down from $61.66-million in the prior year, and $8.28-million in cash at year end, which is up from $5.77-million at 2022 year-end. The company has also arranged a normal course issuer bid to buy back up to 2 million shares (10% of public float). Its market cap is $140.77-million.


Brunswick Exploration Inc. drilled 37.2 m of 1.8% lithium oxide at its Mirage project in Quebec. The company also drilled 32.2 m of 1.55% Li2O at the project. Brunswick shares’ 26% drop today nearly knocks off all value gained in 2023 by the company. Its market cap is at $100.91-million.


Bluestone Resources Inc. rose 151.1% on news that its environmental permit amendment was approved by the Guatemala Ministry of Environment and Natural Resources in relation to its Cerro Blano project. The amendment changes the project’s mining method from underground to surface. The company continues to seek a buyout. Bluestone’s market cap is $89.5-million.


The Wall Street Journal reported that Cummins Inc., Daimler and Paccar are planning to build a battery factory in Mississippi at a cost of $2-billion (U.S.). The companies will operate the factory as a joint venture and it is supposed to start production in 2027. Cummins has a market cap of $33.04-billion (U.S.). Paccar has a market cap of $49.21-billion (U.S.). Daimler, which owns Mercedes, has a market cap of $63.46-billion (U.S.).


WSJ also reported that drug makers Novo Nordisk A/S and Eli Lilly & Co. raised list prices on 775 drugs in January, 2024. The companies raised their prices by a median of 4.5%. That rate is higher than the December, 2023, inflation rate of 3.4%. Novo Nordisk has a market cap of 3.28 trillion kroner. Eli Lily’s market cap is $597.03-billion (U.S.).


WSJ also released its “Best Bitcoin ETFs” and the list included iShares Bitcoin Trust (IBIT), Fidelity Wise Origin Bitcoin Fund (FBTC) and Bitwise Bitcoin ETF (BITB).

4 views0 comments

Recent Posts

See All

Komentarze


bottom of page