Today’s missive is also a promo for our holiday special out this morning. Jillian and I took a moment to pause and reflect on this incredible year with you. Almost one year ago we launched the podcast and today we have crossed 1 million downloads and views. I can not thank you enough for every single minute you spent with me and my guests. We are having so much fun and can’t wait to do it all again next year. On this episode we share the best and worst stock picks and name the best fund manager of 2025! The guest will also reveal his next big ideas for 2026! So get cozy, put on some bubbly, and join us. Listen now: Apple, Spotify, our YouTube.
Looking for a simple, low-cost way to own some of Canada’s strongest dividend growth stocks? In this ETF Minute on In the Money with Amber Kanwar, we take a closer look at the HAMILTON CHAMPIONS™ Canadian Dividend Index ETF (CMVP), a strategy built to invest in high-quality, blue-chip Canadian companies with a long track record of consistently growing their dividends. Learn more about the HAMILTON CHAMPIONS™ Canadian Dividend Index ETF (CMVP).
Here are five things to know this morning:
Laughing all the way: US and Canadian markets were in the red for the fourth session in a row, with US tech stocks underperforming the most. Concerns about financing for Oracle’s data centre projects took the spotlight yesterday and the stock fell more than 5% casting a pall across the whole sector. But today is a new day, futures are popping this morning. We got a read of US inflation for November which was significantly lower than expectations and that helped to power the markets into the trading session. Micron also reported and is pumping which is helping to lift tech stocks (more on that below).
Time moves in one direction, memory in another: Micron is surging 13% after earnings crushed expectations. A severe shortage in memory chips is allowing the chipmaker to charge more. That coupled with the surge in demand from AI means business is booming. Sales soared 57%, profit nearly tripled from a year ago and came in 20% above elevated expectations. Micron’s forecast was also rosy implying sales for next quarter will more than double. It’s earning forecast, meanwhile, was 80% higher than current consensus estimates. This is helping to power the stock, which is already up 168% so far this year. This is one tech stock I got right this year. Demand for AI is causing a supply crunch in two ways in the memory world. One, there is suddenly huge demand for high bandwidth memory chips. Two, it means production is shifting to meet that demand which means less production of other kind of memory chips. Malcom White of BMO Global Asset Management talked about this on the podcast and named Samsung as his top idea for those that missed out on the memory rally. Micron’s rally is supporting memory peers like Sandisk (+8%) and Western Digital (+6%).
Upward facing dog: Lululemon is pumping 7% on reports that activist investor Elliot Management has built a $1 billion in the embattled athletic brand. The reports suggest Elliot has been trying to lure Jane Nielsen, former COO and CFO of Ralph Lauren, to become the CEO of Lululemon. Last Friday, Lululemon said CEO Calvin McDonald would be stepping down. The stock is up 18% since then. That’s got to bruise the ego.
Corked: Birkenstock is plunging after its sales forecast suggested growth would be slowing. Revenue and profit increased 15% this quarter but the company said it is expecting just 10-12% next year. Analysts are quick to point out most of this is due to currency headwinds rather than demand falling off. As a German based company that sells internationally, it has been negatively affected by a rising Euro and a declining US dollar. Jefferies said aside from currency issues the results were “solid” with “enviable” profit margins. They would be buyers on weakness here.
Chemical romance: Donald Trump Media is surging 27% in the pre-market after announcing it will merge with nuclear fusion company TAE Technologies. It is a big strategic pivot for the company behind Truth Social (Trump’s answer to X, formerly Twitter). The company also once experimented with financial products. Shares of DJT are down 69% in 2025 as the company has struggled to find its footing. The merger of these two companies will create one of the only public companies to play nuclear fusion – a technology that has the potential to create a clean nearly limitless source of energy (like the Sun.) Commercialization efforts have been underway since 2022 when fusion was achieved in a lab setting. TAE is backed by the likes of Google, Chevron and Goldman Sachs.
You didn’t think we would leave you in the dark for the holidays? Don’t miss our three-part special on Alternative Investing guest hosted by Paige Ellis. Every Tuesday we will release a new episode on alternatives until we return to full programming the week of January 13th. First up, the trillion dollar private asset fund manager Mario Giannini of Hamilton Lane. Enjoy!
