Meta, IBM sink on earnings, American Airlines and Caterpillar report: Yahoo FinanceShares of Meta are deep in the red this morning despite the company beating earnings expectations. Investors were spooked by the tech giant’s second-quarter outlook. IBM shares are also falling this morning after reporting first-quarter revenue that missed expectations.
TORONTO — Aecon Group Inc. reported a loss of $6.1 million in its first quarter, compared with a loss of $9.4 million a year earlier. The Toronto-based company says revenue for the quarter ended March 31 totalled $846.6 million, down from $1.1 billion during the same quarter last year. Diluted loss per share was 10 cents, compared with 15 cents a year ago. President and CEO Jean-Louis Servranckx says the company is focused on achieving improved profitability and margin predictability.
OTTAWA — The Canadian Medical Association asserts the Liberals' proposed changes to capital gains taxation will put doctors' retirement savings in jeopardy, but some financial experts insist incorporated professionals are not as doomed as they say they are. Prime Minister Justin Trudeau's government presented a federal budget last week that proposes making two-thirds rather than one-half of capital gains — or profit made on the sale of assets — taxable.
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