The best opportunities in the market might be the ones no one is paying attention to — and that’s exactly where microcap investor Mathieu Martin is looking. On this episode of In the Money with Amber Kanwar, Amber sits down with Mathieu Martin, Portfolio Manager for the Rivemont MicroCap Fund, to break down one of the most underfollowed — and potentially most lucrative — corners of the market.
Wondering which investment is right for you? Take the Vanguard quiz to find the all-in-one ETF that matches your investor profile. You’ll get a personalized asset allocation — a mix of equities (stocks), fixed income (bonds), and cash — tailored to your risk tolerance. For more information check out our latest ETF Minute featuring Vanguard’s Mario Cianfarani for all the details.
Greetings from NYC! No kids, just us. I used to visit a new city and wonder: could I live here? Now I wonder: could the kids? Funny how parenthood quietly moves the goalposts on your own imagination.
Here are five things to know today:
Toxic positivity: Tech stocks are powering the gains in the pre-market thanks to Intel and SAP quarterly results. There is also hope for another round of peace talks with Iranian officials headed to Pakistan. Israel and Lebanon have extended their ceasefire by three weeks, according to US President Donald Trump. Oil prices are retreating this morning but still on pace for a 13% jump this week. While crude has been a volatile trade since the war broke out, energy companies in Canada are feeling optimistic according to a new survey by ATB Cormark Capital Markets. Sentiment has obviously improved with higher energy prices. A whopping 95% of producers plan to increase production. Even though most producers expect prices to fall from current levels, longer-term assumptions have increased. Still, they are expecting a windfall and plan to spend that on increasing production, paying down debt, and possibly more M&A (see chart below). “Unprecedented oil/gas crisis emanating from the de facto closing of the Strait of Hormuz will bring enormous opportunities for Canada’s energy sector,” wrote in one institutional survey respondent.
Long road home: Intel is surging nearly 30% on the back of significantly better quarterly results and is set to open at record high for the first time since 2000. Think about that…it took 26 years for the company to exceed its dot-com era peak. The pop in the pre-market is on an 80% rally so far this year. It is also dragging the semiconductor sector higher for a record-smashing 18 sessions in a row (apologies I undercounted the streak in yesterday’s newsletter). That’s a 45% rally in 18 days folks! Intel’s earnings and sales blew past expectations as it finally reaps the benefits of AI demand. Intel’s doesn’t make the cream of the crop chips needed to run AI systems (GPUs) but it makes central processing units (CPUs) which are used to run smaller workloads and overall workflow. The company is also benefitting from a halo effect after Elon Musk said he would use Intel technology in his chipmaking efforts. Put all of this together and Intel’s forecasted profit is much higher than street expectations. I own this stock (which only supports my bad habit of buying broken companies at low valuations). It is a stunning turnaround under CEO Lip-Bu Tan and a windfall for the US government which is sitting on a paper gain of $37 billion. “It has been easy to not like (Intel),” wrote Evercore’s Mark Lipacis in an upgrade this morning, lamenting years of ceding market share and technological edge. “But three things have changed: 1)CPU Renaissance: The fastest growing AI workloads need a lot more CPUs, and might even flip the CPU:GPU ratio from 1:8 to 8:1, 2) Improved Execution: INTC’s new CEO fixed the balance sheet, and is executing on a strategy that appears to have put INTC back on the competitive track, 3) Geopolitical Dynamics – have shined a light on INTC’s unique position as the only US-based leading edge maker of chips – INTC formed alliances with the US Gov’t, NVDA and Tesla – we expect more.”
Force majeure: Shares of SLB are falling 3.5% after profit fell because of the war in Iran. The oilfield services company had to halt work and clear personnel as the war broke out in March. Middle East revenues fell 17% from last quarter and 10% from last year. Going forward, the company is optimistic that the supply disruption can be offset by other countries accelerating projects creating more work for SLB. “While commentary is bullish around the eventual macro implications from the war (stronger oil / OFS market), the release stops short of providing any near term outlook, noting “uncertainties remain,”” wrote Marc Bianchi of TD Cowen. The fact the stock ran up into the quarter (+42% so far in 2026) also gives investors an excuse to sell.
Golden years: Newmont is popping in the pre-market after profit came in 30% higher than expected, gold production was better and it announced a $6 billion buyback. The world’s largest gold producer said the rally in gold prices helped it achieve record high quarterly free cash flow of $3.1 billion. “We believe Newmont’s transformed portfolio of geologic and geographic diversity with a strong US presence and a leaner cost structure beginning in 2026 will solidify its position as the #1 gold producer globally and set a strong foundation for higher market multiples,” wrote Ralph Profiti of Stifel in a note to clients.
Notable calls: National Bank says it is turnaround time for Sun Life Financial in an upgrade late last night. Shares of Sun Life have lagged over the past year because of concerns in their US business. This issue has been their stop-loss business which protects employers from a surge in claims because of severe illness of one of their employees. Recently it has been experiencing losses because claims were higher than expected. Sun Life has now increased prices for that unit two years in a row and Dechaine thinks it will now show gains instead of losses. “In short, we believe the combination of repricing initiatives and improved claims management processes should result in a strong start to the year for the Stop Loss business,” he wrote in the upgrade. We talked about this business extensively with Kevin Strain, Sun Life CEO, last summer. The price target is $109/share implying 12.5% upside. Scotia is upgrading Magna to outperform this morning. Wealthy consumers are propping up the auto market says Scotia’s Jonathan Goldman. This should help Magna because the autopart maker is skewed toward the kind of vehicles the wealthy purchase (pickup trucks and SUVs).
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