Home Capital Group (HCG) continues to make headlines. The company said a third party has indicated its non-binding intention to buy as much as $1B in uninsured mortgages and to buy, or accept, commitments for up to $500M in insured mortgages. Valeant Pharmaceuticals (VRX) reported its first profit in six quarters, helped by a one-time tax gain, as the drugmaker also raised its full-year earnings forecast. Business software maker Open Text (OTEX) reported a lower-than-expected quarterly profit as, expenses rose more than 50%, offsetting gains across all its businesses. Amaya Inc. (AYA) turned in a decent quarter and is proposing a corporate name change. Here are five stories we found interesting this week:
- Sentiment and trend drive market 'tops'; valuations can vary widely
- A US perspective on Home Capital Group and the Canadian economy
- A longer read on how higher corporate profits justify a 'new normal' P/E (page 9-15 focus)
- A valuation tool for expensive markets
- Looking for cracks in the emerging market rally
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