Data Center Owner Equinix’s Biggest Gain Since 2008 Is Upending Short Bets
Equinix Inc.’s biggest rally in more than four years is squeezing short-sellers who piled into bets against the stock.
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Equinix Inc.’s biggest rally in more than four years is squeezing short-sellers who piled into bets against the stock.
Canada’s oil-rich province of Alberta saw its economy shrink to 2004 levels on a per-person basis as the region’s population swelled, according to economist Charles St-Arnaud.
Shares of Arbor Realty Trust Inc., a lender to apartment buildings, dropped as much as 6% after Viceroy Research accused the firm of fraud in its latest report.
Adam Neumann’s $650 million bid to buy back WeWork was essentially turned down last week, but that process “is not over,” he said on stage Thursday at the Bloomberg Tech Summit in San Francisco.
After months in which the Bank of England and markets have been at loggerheads over the direction of interest rates — with the US Federal Reserve more powerful in shaping expectations than words from the UK central bank — they have now fallen roughly into line.
Mar 14, 2017
Stephen Jarislowsky, the billionaire investor and founder of Montreal-based Jarislowsky Fraser, is issuing a series of warnings on the future of Canada’s economy, ranging from the ill-effects he sees if Finance Minister Bill Morneau hikes capital gains taxes to the overvaluation he sees in the nation’s hottest housing market. Below, a selection of thoughts Jarislowsky shared with BNN.
ON TORONTO'S ROARING HOUSING MARKET:
“The housing market in Toronto is definitely something that’s going to come down, and come down with a bang. Not enough is being done in order to control it. This is just an accident [waiting] to happen.”
ON THE IMPACT OF A POTENTIAL CAPITAL GAINS TAX HIKE:
“The existing entrepreneurs will say, ‘Why stay in Canada if I’m going to be taxed not only 52 per cent which I’m currently taxed, but I’m going to be taxed higher than that?’ There’s no reason for them to stay.”
ON LEVELS OF FEDERAL GOVERNMENT SPENDING:
“I believe this government has made a lot of expenditures which were gratuitous and don’t do anything for the country.”
ON THE SPECTER OF A CANADA-U.S. TRADE SPAT:
“Retaliation would be very easy, and I believe both sides of that trade relationship realize that [retaliation] would not be a good idea for either side, so I’m not too scared about Canada.”
ON STOCK MARKET VALUATIONS:
“I don’t believe that stocks today are that much overpriced, except obviously in the more speculative items.”
ON COMMODITIES:
“The commodity prices -- other than oil -- have gone too high for the time being.”
ON OPEC BATTLING WITH U.S. SHALE PRODUCTION:
“I believe that OPEC [if U.S. shale floods the market] will lower the price again in order to try to exclude the addition of wells in the shale oil areas, especially in Texas.”