Walmart Canada has lowered the price on hundreds of key staple items to help Canadians save money and live better
Every Day Low Prices can save families, on average, more than $450 per year on their weekly shop at Walmart Canada – the equivalent of over two weeks of groceries
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Globe and Mail
34 minutes ago
- Globe and Mail
Cantor Downgrades Joby Aviation Stock (JOBY) Due to Lack of Near-Term Upside
Cantor Fitzgerald downgraded electric vertical takeoff and landing (eVTOL) aircraft maker Joby Aviation (JOBY) to Hold from Buy with a price target of $9 due to a lack of near-term upside in the stock. While JOBY stock plunged about 8% on Thursday due to the rating downgrade, it has rallied 26.5% over the past month. As a result, the stock is up 9.1% year-to-date, thanks to a favorable executive order signed by U.S. President Donald Trump and the announcement of new deals. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Indeed, the executive order would direct the Transportation Department to develop a program to accelerate eVTOL operations in the U.S., which is expected to benefit players like Joby Aviation and Archer Aviation (ACHR). This comes after Joby Aviation signed a Memorandum of Understanding (MoU) earlier this month with Abdul Latif Jameel to explore establishing a distribution agreement in Saudi Arabia for the company's electric aircraft. The agreement involves the potential delivery of up to 200 Joby aircraft and related services that are valued at about $1 billion. Cantor Moves to the Sidelines on JOBY Stock Interestingly, Cantor analyst Andres Sheppard admitted that Joby Aviation remains one of the best-positioned companies in the eVTOL sector, given its partnerships with Toyota (TM), Delta Air Lines (DAL), and the U.S. Department of Defense. However, the 4-star analyst finds JOBY stocks' valuation to be stretched, following a 60% rally over the past three months and an almost 90% gain in the past year. 'We don't see current levels as a good entry point for investors,' said Sheppard. The analyst noted that while Joby Aviation has solid liquidity, it also has one of the highest cash burn rates in the sector. In fact, the company ended Q1 2025 with about $1.3 billion in total liquidity, including Toyota's $250 million funding, but expects to spend between $500 million and $540 million in 2025. Additionally, Sheppard cautioned about delays in U.S. certification and doesn't expect Joby Aviation to secure full FAA Type Certification until at least the second half of 2026. Finally, Sheppard pointed out persistent uncertainty around the company's unit economics, such as pricing and deployment costs of its air taxi service. Is Joby Stock a Good Buy? Wall Street has a Moderate Buy consensus rating on Joby Aviation stock based on three Buys, three Holds, and one Sell recommendation. Furthermore, the average JOBY stock price target of $8.86 indicates that the stock is trading close to fair value. See more JOBY analyst ratings Disclaimer & Disclosure Report an Issue
Globe and Mail
36 minutes ago
- Globe and Mail
BAC, USB & Fifth Third Open to Stablecoins Amid Regulatory Shift
At an industry conference in New York last week, senior executives of Bank of America BAC, Fifth Third Bancorp FITB and U.S. Bancorp USB stated that they are open to adopting stablecoins as they anticipate favorable regulations to develop. Recent Regulatory Developments for Stablecoins U.S. regulators are rapidly advancing their efforts to regulate payment stablecoins, with two major bipartisan bills introduced in early 2025: the GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins Act) and the STABLE Act (Stablecoin Transparency and Accountability for a Better Ledger Economy Act). Both aim to establish a clear legal framework for dollar-denominated stablecoins, enhance client protection and ensure the United States maintains its monetary superiority in digital finance. The GENIUS Act, introduced in February 2025, after a public draft was released in October 2024, defines payment stablecoins as digital assets for payment or settlement that are pegged to a fixed value, require one-to-one reserves, and prohibit algorithmic stablecoins. It explicitly prevents them from being classified as securities and sets distinct regulatory limits—federal oversight for issuers with more than $10 billion in assets, and state regulation for smaller ones. It also mandates monthly reserve audits and anti-money laundering (AML) compliance. Just days later, the STABLE Act was unveiled in the House and introduced formally in March 2025. It proposes a more centralized regulatory structure, giving federal agencies ultimate authority even over state-approved issuers. It is similar to the GENIUS Act in its reserve requirements and prohibition on algorithmic stablecoins, but adds a two-year moratorium on such models. Both bills build upon earlier legislative efforts, including the 2023 McHenry Bill and the 2024 Lummis-Gillibrand proposal, reflecting the rising urgency in Washington to bring stablecoins under formal regulation. Why Are BAC & USB Bullish on Stablecoins? The optimism for stablecoins stems from the most crypto-favorable U.S. administration the industry has encountered in 16 years. The U.S. Senate is advancing the GENIUS Act, with a final vote expected later this week. Moreover, the House is reviewing the STABLE Act. Eventually, both bills could be combined into a single piece of legislation. Given the shifting political dynamics, several banking executives seem to have let go of their earlier skepticism toward crypto. According to the Wall Street Journal, Bank of America is engaged in talks with other major institutions about the potential launch of a joint stablecoin. Brian Moynihan, CEO of Bank of America, stated, 'If they get the GENIUS Act or the STABLE Act or anything like that passed … that clarity will allow us to figure out whether there's really a business proposition.' 'At the end of the day, if people use it as a transactional account, we have to be ready to have those transactional deposits stay within our franchise, or else you'll see a major migration of deposits outside the industry," Moynihan further stated. Bryan Preston, CFO of Fifth Third, stated, 'stablecoins could be used to make international payments instantaneously, or to move collateral instantly from market to market. We think that there are some interesting places where stablecoin can really create some efficiencies in the commerce space.' Gunjan Kedia, CEO of U.S. Bancorp, referred to her banking experience to indicate how much the new regulatory environment has changed the crypto outlook. She also stated that the bank is observing how it could help use stablecoin for payments, but much of that will depend on how the new regulations shape up. If stablecoins continue to gain traction, large global banks are set to benefit the most, given their solid liquidity positions. As stablecoins offer yield opportunities, traditional banks may need to increase deposit rates to stay competitive. While banks like Bank of America, Fifth Third, and U.S. Bancorp are well-positioned to deal with the changes, many smaller regional banks could face greater challenges. Zacks' Research Chief Names "Stock Most Likely to Double" Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest. This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%. Free: See Our Top Stock And 4 Runners Up Bank of America Corporation (BAC): Free Stock Analysis Report U.S. Bancorp (USB): Free Stock Analysis Report
Global News
37 minutes ago
- Global News
Canada to sign defence procurement pact with EU: officials
European Union officials say Canada is likely to sign a defence procurement agreement with the continent when Prime Minister Mark Carney goes to Brussels later this month. Carney is set to visit Brussels on June 23 for the Canada-EU summit, where he will meet with European Commission President Ursula von der Leyen and European Council President António Costa. Attending the G7 summit in Alberta today, both EU leaders say Canada's involvement in what they call Europe's 'rapidly evolving defence architecture' is set to deepen. 1:49 Carney welcomes U.K.'s Starmer ahead of G7 summit Von der Leyen says Canada will sign a security and defence partnership with the EU which will allow it to join a European loan program for joint defence projects. Story continues below advertisement The 150-billion euro program is called Security Action for Europe, or SAFE, and is part of the ReArm Europe initiative that Carney says he wants Canada to join. Von der Leyen says the SAFE program can be joined by Europe's 'very close allies, friends and partners' and the deal this month will allow for negotiations on bringing Canada into the program.
