Stocks Surging Above 50Days Moving Average (50SMA): $CTC $ELF $CLR

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Canadian Tire Reports Q2 2020 Result

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Canadian Tire Corporation Limited (TSX:CTC) is currently trading at C$220.00 above its 50 Days simple moving average of C$216.07 and the stock looks bullish. The company released its Q2 2020 results for the period ended June 27, 2020. Although the pandemic resulted in the shutdown of stores the company reported a 400% surge in eCommerce sales across all banners. Canadian Tire Retail sales grew 20.3% in the quarter increasing almost $600 million despite the shutdown of stores in Ontario.

The company reported an EPS of $0.33 on a diluted basis compared to diluted earnings per share of $2.97 in Q2 2019. Its consolidated retails sales grew 17% and excluding petroleum sales were up 9.3%. Consolidated revenue dropped 14.2% or $524.8 million but excluding petroleum, revenue dropped $253.6 million.

E-L Financial Announces Q2 2020 financial update

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E-L Financial Corp Ltd (TSX:ELF) is also another stock that is looking bullish and currently trades C$680.01 above its 50 Days simple moving average of C$671.77. The company has announced net equity of $1,459.32 per common share on June 30 2020 which a 3% decline from December 2018 but an 11% increase from the March quarter. Net income in the quarter was $452 million or $119.36 per share with 1H net loss being $211 million or $57 per share.

In March the company received TSX approval to begin a normal course issuer bid to acquire 200, 970 common shares beginning March 9 2020 up to March 8 2021. In 1H the company purchased 200,970 shares under the NCIB for $599.18 per share for around 120 million.

Clearwater Seafoods To Annouce Q2 Earnings

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Another stock looking bullish is Clearwater Seafoods (TSX:CLR) which is trading at C$5.86 above its 50 Days simple moving average of C$5.39. The company has announced that it will host an investor relations conference call on August 11, 2020at 1:00 PM +0000 with senior management to review Q2 2020 financial results. A media representatives' call will follow at 2:30 PM +0000. the company will release financial statements and management discussion on Q2 financial results before hosting the calls.

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