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Ottawa home sales fall in April, but signs of ‘growing momentum' in the market, OREB says

Ottawa home sales fall in April, but signs of ‘growing momentum' in the market, OREB says

CTV News07-05-2025
A new home is shown for sale in a housing development in Ottawa on Tuesday, July 14, 2020.THE CANADIAN PRESS/Sean Kilpatrick
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It's time to take some profits in this high-flying Canadian tech stock
It's time to take some profits in this high-flying Canadian tech stock

Globe and Mail

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  • Globe and Mail

It's time to take some profits in this high-flying Canadian tech stock

It has been a mediocre year for Canadian tech stocks. The S&P/TSX Information Technology index is ahead only 8.31 per cent year to date, less than the TSX Composite. Our biggest tech company, Shopify (SHOP-T), is doing somewhat better, with a gain of about 14 per cent so far in 2025. But that's well off the pace of last year's 48 per cent gain. Constellation Software (CSU-T) is up about 12 per cent year-to-date, also well short of its pace last year when it gained 35 per cent. Another 2024 high-flyer, Descartes Systems (DSG-T), which specializes in providing solutions for import/export businesses, is down almost 12 per cent as global trade slows in the face of Donald Trump's tariff blitz. There is one major exception to these disappointing results. Shares in Celestica (CLS-T) continue their strong uptrend, now in its third year. The stock had traded in the $5 to $15 range from 2005 to the spring of 2023. Then it suddenly took off, posting gains of 154 per cent in 2023 and 242 per cent in 2024. So far this year, it's up about 66 per cent. I added Celestica to my Internet Wealth Builder recommended list in November 2023 at $38.46. At that point, the p/e ratio was a very reasonable 16.72. The shares closed Friday at $219.79, up 471 per cent from our original recommendation. The p/e is now at 44.86, which is high but not outlandish for a tech stock (Nvidia is trading at 55 times earnings). Here's the latest update on Celestica. Celestica (TSX, NYSE: CLS) Originally recommended on Nov. 20/23 at C$38.46, US$28.05. Closed Friday at C$219.79, US$160.12. Background: Toronto-based Celestica was originally part of IBM. In 1996, it was sold to Onyx Corp. It began trading publicly in 1998 with the sale of 20.6 million shares at US$17.50. The company employs 26,000 people. Celestica has two operating segments: Advanced Technology Solutions (ATS) and Connectivity & Cloud Solutions (CCS). The ATS segment consists of its Aerospace and Defense, Industrial, HealthTech, and Capital Equipment businesses. The CCS segment consists of the company's Communications and Enterprise (servers and storage) end markets. Performance: The share price took a dive in January and plunged again in April in the wake of the 'Liberation Day' tariff announcements. However, it recovered quickly and recently hit a new high of $224.36. Recent developments: First quarter results continued to show strong growth in revenue and earnings. Revenue for the three months to March 31 was $2.65 billion, up 20 per cent from the same period in 2024. Adjusted earnings per share came in at $1.20 compared to $0.83 the year before. Note that the company reports in U.S. dollars. CEO Rob Mionis said both figures surpassed the upper end of the company's guidance range. 'This strong performance was further highlighted by our highest ever adjusted operating margin of 7.1 per cent,' he added. The first quarter results and a strengthening demand have resulted in new guidance for the full 2025 fiscal year. Celestica now expects revenue to reach $10.85 billion, an increase from the prior forecast of $10.7 billion. Adjusted earnings per share are expected to be $5.00, up from the previous guidance of $4.75. Second quarter results will be released on July 29. Dividend and buybacks: The stock does not pay a dividend, but the company spent $75 million in the quarter to buy back 600,000 shares. Outlook: The strong first quarter results and the improved revenue and profit guidance are encouraging. Conclusion: I've advised our readers to take half profits on the stock. New investors may want to watch for dips, preferably below $210, to take an initial position. Gordon Pape is editor and publisher of the Internet Wealth Builder and Income Investor newsletters.

Special flags displayed across Barrie as Canada's premiers head to cottage country
Special flags displayed across Barrie as Canada's premiers head to cottage country

CTV News

time42 minutes ago

  • CTV News

Special flags displayed across Barrie as Canada's premiers head to cottage country

Motorists driving along Highway 400 in Barrie will notice a series of custom flags displayed on five bridges as Canada's premiers head to Huntsville for the 2025 Premiers' Meeting. Flags Unlimited, Canada's largest flag manufacturer based in Barrie, partnered with the City and the Ministry of Transportation to feature the banners, each marked with the year the province or territory joined Confederation, are visible on bridges at Harvie Road, Anne Street, Sunnidale Road, Bayfield Street, and St. Vincent Street. Ontario Premier Doug Ford is hosting the talks as this year's council chair. 'These flags tell the story of our country and the unity that makes us strong. I'm so proud this tribute was made right here in Barrie by Ontario workers,' Ford stated. 'Flags Unlimited, who will soon celebrate 60 years of business in Ontario, has been a proud partner of the City of Barrie for many years,' said Barrie Mayor Alex Nuttall. 'Barrie is honoured to be such a visible supporter of this historic Premiers' Meeting.' The banners were developed in-house by Flags Unlimited. After the Premiers' Meeting, each banner will be given to the respective premier as a keepsake. 'It's an incredible honour for our team to contribute to this historic meeting of Canada's Premiers,' said Matt Skipp, Flags Unlimited co-owner. 'Moments like this remind us that our work—though sometimes behind the scenes—allows us to play a small but meaningful part in commemorating Canada's story." The three-day meeting of the country's premiers gets underway Monday at Deerhurst Resort in Huntsville, Ont., with trade and tariffs expected to be the main focus. Prime Minister Mark Carney is scheduled to make his way to cottage country Tuesday to attend the meetings.

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