It’s shaping up to be another volatile day in the equity markets after yesterday’s eventful session.
through the early hours of the morning as investors continue to assess the turmoil in the global banking sector. This morning, there are a few catalysts – shares of U.S. regional banks are largely in the red in the premarket after Bloomberg News reported First Republic is exploring strategic options, including a potential sale And, after Credit Suisse stoked some initial optimism throughout the sector over in Europe by securing a US$54-billion lifeline from the Swiss National Bank.
. Adjusted earnings per share came in at $0.64 and revenue came in just shy of estimates in the quarter. That cybersecurity incident late last year took a toll to the tune of $39 million in the quarter - more than the $25 million hit estimated back in December – as it threw a wrench in procurement, leaving some products unavailable. On the food price inflation front, which has been a flashpoint with Canadian shoppers, the company says it’s difficult to know how long those pressures will persist.
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