What is the right way to celebrate Mother’s Day? How does one say thank you to the person who is the CEO of your life but also moonlights as your janitor, chauffer, emotional support worker, your doctor, and sometimes, when you need it, your corrections officer.
The right answer? A Sunday brunch, a massage, or heart-shaped macaroni art are all great options. But the real answer… is to leave us alone for 12 hours and don’t ask us if there are any snacks.
Earnings season is winding down in the U.S., but it’s still going full speed in Canada. There are 46 companies reporting on the Toronto Stock Exchange this week. Here are some of the most notable ones:
Soft in software: Constellation Software Inc. CSU-T is a battleground software stock down 50 per cent from the 2025 peak on concerns that AI will disrupt the businesses they own. So far, we haven’t seen signs of that. In the last quarter, the company’s organic growth grew within historical norms. But the company held its first conference call in eight years, signalling that management recognizes it isn’t operating in a normal environment. Investors will want clarity on whether organic growth can continue undisrupted by AI when the company reports Tuesday after the close.
In addition to AI disruption fears, the company’s founder Mark Leonard stepped aside for health reasons and recently announced he won’t stand for re-election. On the conference call last quarter, new CEO Mark Miller suggested Mr. Leonard was still an active adviser. Investors will want to know if that is still true. “One of the most underappreciated things about Constellation Software is the culture that Mark Leonard put into place,” said Paul Moroz, portfolio manager at Mawer Investment Management Ltd., which manages more than $65-billion in assets, on my podcast last week. Mr. Moroz recently bought the stock and has been following the company since it went public. “A lot of people talk about M&A and return on capital with Constellation, but that culture is very much intact across the organization.” Mr. Moroz believes the valuation is now compelling and doesn’t think AI will erode the business. “You can imagine a lot of their customers – utilities for example – probably aren’t going to spin up or vibe code solutions for their businesses,” he said.
Hitting the high notes: Cisco Systems Inc. CSCO-Q hit a record high last week ahead of earnings due out Monday afternoon. The stock has been in the eye of the AI buildout and sales are expected to hit another record this quarter. The company’s networking business has benefitted from the hundreds of billions being poured into AI data centres – growing double digits for six quarters with the company saying orders from hyperscalers can hit US$5-billion this fiscal year. Cisco has also been working on its own semiconductor called Silicon One – a family of high-performance networking chips. “We believe that Silicon One is a credible growth driver for Cisco, layered on top of a stabilizing core networking business,” Evercore analyst Amit Daryanani wrote, calling it an “underappreciated lever for upside.”
Difficult go: The embattled subprime lender Goeasy Ltd. GSY-T reports on Tuesday after the bell. Shares are down 84 per cent from its September peak, with the stock cratering in March after announcing $337-million in losses tied to its auto and recreational vehicle lending business. The company now has to show a credible plan for stabilization and growth. Recent financings mean that it has the runway for a turnaround. “We caution investors that there are considerable unknowns around the pace of portfolio movements and the gradual improvement in charge-offs,” Raymond James analyst Stephen Boland wrote in a preview of the quarter. The company will face investors at its annual general meeting on May 20, which will be a trial by fire for Goeasy’s CEO and CFO, who are just a few months into their jobs.
Rusty: Barrick Mining Corp. ABX-T has been an underperformer in 2026 despite plans to spin off its North American assets into a new publicly traded company. Part of the issue could be that gold output is expected to fall for a fifth straight quarter when it reports Monday morning. Bullion prices have struggled since the war in Iran began, but are still much higher than last year. Barrick’s inability to pump out production to capture high prices has dented the company. “We note that Barrick is now trading at a significant discount to Newmont,” said TD Cowen analyst Steven Green, “which we believe is unwarranted given (Barrick’s) majority interest in (Nevada Gold Mines) and 100 per cent ownership of Fourmile, which has significant upside potential in our view.”
It takes two: U.S. President Donald Trump and Chinese President Xi Jinping are set to have a high stakes meeting in Beijing on May 14 and 15. This is the first time a U.S. president has visited China since 2017 – which was the last time Mr. Trump visited. De-escalation of any number of issues like tariffs, the war in Iran, and Taiwan would be welcomed by investors. Boeing Co. BA-N could be a stock to watch if talks end with China buying jets. Another area for investors to watch is around AI as the two countries fiercely compete for the upper hand. There is talk of putting a framework for handling an AI-related crisis on the agenda.
In the Money with Amber Kanwar is Canada’s top investing podcast. New episodes out Tuesday and Thursday. Subscribe now! www.inthemoneypod.com