Hedge Fund Picton Says Avoid Leveraged Firms With Trade Policy in Chaos
US economic data is likely to worsen, causing hedge fund Picton Mahoney Asset Management to take a more defensive view and cut exposure to companies with too much debt risk, trading strategist Geoff Phipps said.
'It is pretty likely that we're going to see downward GDP revisions in Canada and the US over the coming three or four months,' he said in an interview. Corporate credit spreads have widened as yields on US Treasuries have risen, creating 'a very uncomfortable environment' for highly leveraged companies or those needing to refinance in the near future, said Phipps, who's also a portfolio manager at the Toronto-based firm.
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Associated Press
17 minutes ago
- Associated Press
Unifor members at DHL Express Canada locked out after refusing to accept concessions
TORONTO, June 8, 2025 /CNW/ - Unifor members at DHL Express Canada were locked out by their employer after midnight on June 8, after the workers refused to accept concessions put forth by the company. 'We will not stand by while DHL locks out our members across the country and threatens to use scabs in an attempt to pressure our members to take concessions. Our members deserve respect and a fair contract,' said Unifor National President Lana Payne. 'We expect DHL to abide by the law on the books, passed unanimously by Parliament, which will come fully into force later this month. A law that bans the use of replacement works in a legal dispute. It is reprehensible that this company thinks they can bust our members' right to fair and free collective bargaining by using scab labour.' Some concessions the company is pushing include change driver pay system resulting in a loss of money, driving 100 km. to get to their routes or pick up their freight with no compensation. Other concessions involve proposing language that will allow the company to refuse accommodation, laying off employees, and proposing reducing drivers' daily guarantee. The company has also rerouted pickups across the whole country while reducing pay for owner operators. Hours before the deadline, the employer added numerous new proposals and concessions. The union's bargaining priorities remain improving working conditions—including access to clean and secure washrooms—securing fair wages, addressing surveillance and automation issues and recognition and respect for workers. The company filed its intention to lock out workers on June 4 – four days before the deadline to reach an agreement. 'By imposing a lockout, DHL is choosing confrontation over negotiation,' said Unifor Quebec Director Daniel Cloutier. 'This is a serious decision that deprives dedicated workers of their livelihoods. But let's be clear: our members will not be intimidated. They are united, standing strong, and determined to obtain the respect and working conditions they deserve.' Unifor DHL members voted 97% for strike action if necessary last month. Unifor represents over 2,100 DHL Express Canada workers who as truck drivers, couriers, warehouse and clerical workers across Canada, at Locals 114 in British Columbia, 700 in Quebec, 755 in Manitoba and Saskatchewan, 4005 in Nova Scotia, 4457 in Ontario and members in DHL Alberta. Unifor's legal department sent a letter to DHL, cautioning them of hiring scabs –– as anti-scab legislation, which the union campaigned diligently for, is set to come in on June 20. The union firmly believes the timing of the lockout notice is tied to the incoming legislation. The German-based parcel delivery giant's annual profit is roughly $3.3 billion Euro ($4.6 billion CDN) and revenue from its significant and growing North American enterprise is worth approximately ($9.4 billion CDN). And yet, the employer is demanding changes and concessions to working conditions that will negatively affect the pay of Unifor DHL members. Customers in Canada will likely be affected if they use other couriers, including UPS and Loomis, because of integrated contracts with other freight companies. DHL Express Canada has 50,000 customers, including Temu, SHEIN, Lululemon and Siemens Canada. The labour dispute could also potentially cause major disruptions to the Canadian Grand Prix in Montreal, June 13 to 15, due to DHL's responsibility for transporting Formula One vehicles. Unifor is Canada's largest union in the private sector, representing 320,000 workers in every major area of the economy. The union advocates for all working people and their rights, fights for equality and social justice in Canada and abroad, and strives to create progressive change for a better future. SOURCE Unifor
Yahoo
17 minutes ago
- Yahoo
Unifor members at DHL Express Canada locked out after refusing to accept concessions
TORONTO, June 8, 2025 /CNW/ - Unifor members at DHL Express Canada were locked out by their employer after midnight on June 8, after the workers refused to accept concessions put forth by the company. "We will not stand by while DHL locks out our members across the country and threatens to use scabs in an attempt to pressure our members to take concessions. Our members deserve respect and a fair contract," said Unifor National President Lana Payne. "We expect DHL to abide by the law on the books, passed unanimously by Parliament, which will come fully into force later this month. A law that bans the use of replacement works in a legal dispute. It is reprehensible that this company thinks they can bust our members' right to fair and free collective bargaining by using scab labour." Some concessions the company is pushing include change driver pay system resulting in a loss of money, driving 100 km. to get to their routes or pick up their freight with no compensation. Other concessions involve proposing language that will allow the company to refuse accommodation, laying off employees, and proposing reducing drivers' daily guarantee. The company has also rerouted pickups across the whole country while reducing pay for owner operators. Hours before the deadline, the employer added numerous new proposals and concessions. The union's bargaining priorities remain improving working conditions—including access to clean and secure washrooms—securing fair wages, addressing surveillance and automation issues and recognition and respect for workers. The company filed its intention to lock out workers on June 4 – four days before the deadline to reach an agreement. "By imposing a lockout, DHL is choosing confrontation over negotiation," said Unifor Quebec Director Daniel Cloutier. "This is a serious decision that deprives dedicated workers of their livelihoods. But let's be clear: our members will not be intimidated. They are united, standing strong, and determined to obtain the respect and working conditions they deserve." Unifor DHL members voted 97% for strike action if necessary last month. Unifor represents over 2,100 DHL Express Canada workers who as truck drivers, couriers, warehouse and clerical workers across Canada, at Locals 114 in British Columbia, 700 in Quebec, 755 in Manitoba and Saskatchewan, 4005 in Nova Scotia, 4457 in Ontario and members in DHL Alberta. Unifor's legal department sent a letter to DHL, cautioning them of hiring scabs –– as anti-scab legislation, which the union campaigned diligently for, is set to come in on June 20. The union firmly believes the timing of the lockout notice is tied to the incoming legislation. The German-based parcel delivery giant's annual profit is roughly $3.3 billion Euro ($4.6 billion CDN) and revenue from its significant and growing North American enterprise is worth approximately ($9.4 billion CDN). And yet, the employer is demanding changes and concessions to working conditions that will negatively affect the pay of Unifor DHL members. Customers in Canada will likely be affected if they use other couriers, including UPS and Loomis, because of integrated contracts with other freight companies. DHL Express Canada has 50,000 customers, including Temu, SHEIN, Lululemon and Siemens Canada. The labour dispute could also potentially cause major disruptions to the Canadian Grand Prix in Montreal, June 13 to 15, due to DHL's responsibility for transporting Formula One vehicles. Unifor is Canada's largest union in the private sector, representing 320,000 workers in every major area of the economy. The union advocates for all working people and their rights, fights for equality and social justice in Canada and abroad, and strives to create progressive change for a better future. SOURCE Unifor View original content to download multimedia: Sign in to access your portfolio
Yahoo
37 minutes ago
- Yahoo
The Stock Market Is Rising — and These Hidden Gems Are Staying Cheap
Written by Sneha Nahata at The Motley Fool Canada The S&P/TSX Composite Index, also regarded as the benchmark for the Canadian stock market, has been rising amid easing concerns about a macroeconomic slowdown and interest rate cuts. While many stocks on the TSX have surged, several hidden gems continue to trade at attractive valuations, presenting a compelling opportunity for investors to consider. Against this backdrop, here are a few hidden gems that remain cheap and have solid growth potential. goeasy (TSX:GSY) is one of the top TSX stocks to buy now for its attractive valuation. Despite its impressive track record of solid growth and strong fundamentals, the market is undervaluing this Canadian financial services company. Currently, its shares trade at a next 12-month price-to-earnings (P/E) multiple of around eight, a level that suggests it could be a hidden gem, especially when you consider its potential for sustained earnings growth in the double digits. goeasy operates in the subprime lending space and has proven its ability to thrive in this niche. Over the past five years, the company's sales have grown at a compound annual growth rate (CAGR) of more than 19%. Moreover, its earnings have increased at a CAGR of nearly 26%, outpacing revenue growth. That upward momentum has been reflected in its stock price, which has surged more than 212% over the last five years. Moreover, its solid profitability has driven a consistent increase in its dividend. goeasy has paid a dividend every year for the past 21 years and has increased it for 11 consecutive years, making it a dependable income stock. goeasy's dominance in Canada's subprime lending market, expansion of its consumer loan portfolio, diversified funding sources, and solid underwriting practices position it well to scale rapidly while maintaining profitability. In summary, goeasy offers a compelling mix of value, growth, and income. Its low valuation, strong earnings trajectory, and consistent shareholder returns make it a top pick for creating wealth. Investors seeking a high-quality stock with an attractive valuation could consider WELL Health Technologies (TSX:WELL). This digital healthcare company has been performing well, led by steady demand for its omnichannel patient care services. Moreover, its strategic acquisitions have accelerated its growth and broadened its footprint. Despite its solid operational performance, WELL Health's stock appears significantly undervalued. Currently, it trades at a near-historical low NTM enterprise value-to-sales ratio of just one. This discounted valuation presents a compelling opportunity for investors. WELL Health's growth story shows no signs of slowing down. Besides organic growth, WELL Health will benefit from its acquisitions. The company recently acquired a stake in HEALWELL AI, which will enhance its scale. Moreover, it remains focused on expanding its footprint in Canada, particularly in its patient care and technology services segments. Operationally, WELL Health continues to streamline operations to improve profitability. Moreover, it is strengthening its financial position by reducing debt. Furthermore, WELL Health's focus on minimizing share dilution is a positive aspect. Given its solid growth, improving fundamentals, and attractively low valuation, WELL Health Technologies offers a combination of growth and value. The post The Stock Market Is Rising — and These Hidden Gems Are Staying Cheap appeared first on The Motley Fool Canada. Before you buy stock in goeasy, consider this: The Motley Fool Stock Advisor Canada analyst team just identified what they believe are the Top Stocks for 2025 and Beyond for investors to buy now… and goeasy wasn't one of them. The Top Stocks that made the cut could potentially produce monster returns in the coming years. Consider MercadoLibre, which we first recommended on January 8, 2014 ... if you invested $1,000 in the 'eBay of Latin America' at the time of our recommendation, you'd have $21,345.77!* Stock Advisor Canada provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month – one from Canada and one from the U.S. The Stock Advisor Canada service has outperformed the return of S&P/TSX Composite Index by 24 percentage points since 2013*. See the Top Stocks * Returns as of 4/21/25 More reading Made in Canada: 5 Homegrown Stocks Ready for the 'Buy Local' Revolution [PREMIUM PICKS] Market Volatility Toolkit Best Canadian Stocks to Buy in 2025 Beginner Investors: 4 Top Canadian Stocks to Buy for 2025 5 Years From Now, You'll Probably Wish You Grabbed These Stocks Subscribe to Motley Fool Canada on YouTube Fool contributor Sneha Nahata has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. 2025 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
