Canada’s upcoming March employment data, as well as February’s trade balance figures will be the highlight of the upcoming week’s economic calendar.
Monday, Planet 13 Holdings, a Nevada-based cannabis retailer, is expected to release their fourth quarter financial results. Analysts are currently anticipating revenues of $29.9 million for the quarter, a notable improvement from the $22.8 million earned by the company in the third quarter.
On Tuesday, 4Front Ventures, a US-based cannabis operator and retailer, is expected to publish its Fiscal Year 2020 earnings after the close of markets. Analysts are expecting the company’s revenue to increase from last years $31 million to a total of $47.4 million for the fiscal year.
Wednesday is a busy day for both the Canadian and US economic calendar, as Statistics Canada and the Bureau of Economic Analysis are anticipated to publish import and export levels for the two countries.
- Canada in January reported a trade surplus of $1.4 billion– the highest in nearly five years. However, it appears the momentum may be starting to wear off; analysts are forecasting a trade deficit of $1.4 billion in February, as imports significantly outpace exports amid ongoing pandemic restrictions.
- In the US, the Bureau of Economic Analysis will be publishing the trade balance for the month of February, and analysts are projecting an even larger trade balance gap. Following a deficit of $68.2 billion in January, it is forecasted that the deficit will widen further to at least $70.2 billion in February.
Aside from the less-than-ideal trade balance forecasts, Shaw Communications is estimated to release its second quarter earnings, with analysts calling for revenues to amount to a total of $1.361 billion. Analysts are also forecasting an earnings-per-share of $0.25.
On Thursday, Constellation Brands, a US-based Fortune 500 company focused on the production and marketing of alcoholic beverages, is expected to release its earnings for the fiscal quarter ending February 2021 before market open. Analysts are calling for revenues of $1.86 billion, along with earnings per share of $1.56.
Friday is a big day for Canada’s economy, as Statistics Canada will be publishing Labour Force Survey results for the month of March. Following a sharp drop in the unemployment rate in February, job activity is expected to cool down. Analysts are forecasting 75,000 more jobs to be added to the labour market, bringing the unemployment rate to 9.2%— an increase of 1% from February’s unemployment rate of 8.2%.
Information for this briefing was found via Sedar and Refinitiv. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
