More strong results from the Canadian banking sector drives our coverage on BNN today. First-quarter “adjusted” profit per share at Bank of Montreal (BMO.TO) jumped 30 per cent to $2.28 per share, blasting through analyst consensus of $1.88.

CEO Bill Downe says the results were “strong and broad-based.” 

Meanwhile, though, Barclays analyst John Aiken warns that there may be “relative disappointment” at the numbers from Bank of Nova Scotia (BNS.TO), despite a two-cent increase in the quarterly dividend to 76 cents.

“Adjusted” earnings per share of $1.58 were in-line with analyst expectations. “While the headline $1.58 cash may garner attention,” Aiken says. “There was a gain on sale of real estate in Canada (estimated to be about $40 million and an unquantified security gain in Colombia. Therefore, the view of earnings is either $1.55 or a low quality $1.58.”

We’ll talk to Scotiabank Sean McGuckin at 3 p.m. ET on Business Day. Before that, at 12:05 pm. ET, we’ll delve into the bank results with Robert Lam of Cardinal Capital Management, an investment advisor with a liking for dividend-paying stocks. Lam tells segment producer Michelle Zadikian that the banks aren’t “screamingly cheap in our view, but fair valued and able to deliver high-single to low-double digit total returns on our earnings expectations and dividends.”

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FEBRUARY IS YOUR MONEY MONTH ON BNN!

BNN’s annual look at personal finance and financial planning is underway – with financial experts, economists, CEOs, and analysts all offering advice and guidance for Canadians looking for a financial edge. Find it all at BNN.ca/personalfinance

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PLAYING THE CANNABIS MARKET

Don’t look for fat dividends from the emerging cannabis sector any time soon as the industry frantically engages in a land race for market share in what growers hope will be a lucrative recreational market. 

Jacob Capital Management head of research Khurram Malik told us on Commodities yesterday that an apparent inclination by the new U.S. administration of President Donald Trump to prosecute marijuana use more vigorously is unlikely to harm the industry here. “The Canadian companies typically do little business in the U.S.," he says. “They’re happy to go to Brazil. They’re happy to go to Germany, South Africa, Australia.”

At 10:40 a.m. ET, we’ll hear more from Marc Lustig, CEO of CannaRoyalty (CRZ.CD), investor and operator in the legal cannabis sector. He tells segment producer Adena Ali that cannabis is “creating jobs and tax revenues and is the fastest growing segment of the U.S. economy. Even the government acknowledged how powerful the cannabis opportunity is from a health care perspective as a medical market. I think there will be a positive mid ground here.”

LITHIUM INTEREST

From marijuana to lithium. At 11:15 a.m. ET, we’ll talk to Wayne Richardson, CEO of LSC Lithium (LSC.V), which has acquired Argentinian salars, brine deposits containing the metal. Lithium is crucial in batteries and there are plenty of junior players in the much-hyped space.

But Commodities producer Mike Attenborough says he’s interested in LSC Lithium because it was co-founded last year by Stephen Dattels, a mining finance veteran whose past roles include executive vice-president of corporate finance Barrick Gold (ABX.TO). Dattels’ deals include selling African uranium player UraMin in 2007 to Areva, the French government-owned, uranium giant, for about $2.5 billion.

TRUMP'S ADDRESS

We’re also on Trump watch as the president prepares to address Congress in a speech at 9 p.m. ET that The Wall Street Journal says will call for boost in military spending “and sharp cuts in other programs.”

Meanwhile, the latest Trump-branded hotel is set for its official opening in Vancouver today.

Protests are expected as Trump's adult sons, Donald Trump Jr. and Eric Trump, attend the grand opening of the Trump International Hotel and Tower Vancouver. 

Simon Fraser University marketing specialist Lindsay Meredith says Trump's actions, which include an attempt to ban visitors from seven majority-Muslim nations, will hurt the image of hotels that carry his name. “It takes a long time to build brand awareness and brand value, and we know you can blow it away in seconds flat if you're not careful." 

Every morning Commodities host Andrew Bell writes a ‘chase note’ to BNN's editorial staff listing the stories and events that will be in the spotlight that day. Have it delivered to your inbox before the trading day begins by heading to www.bnn.ca/subscribe.