The Weekly Brief (As of January 15)
- Credit card stocks like Capital One (COF) and American Express (AXP) sank after President Trump proposed a 10% cap on the fees these cards can charge customers.
- Most housing-related stocks like D.R. Horton (DHI), Equifax (EQX), etc. jumped after President Trump ordered his “representatives” to buy $200 billion of mortgage bonds to help lower rates.
- Maple Leaf Foods (MFI) hiked its dividend by 10 percent, while expecting mid-single-digit sales growth in FY2026.
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TSMC reported revenue growth of 21% to $33 billion, while net profit came in at $16 billion, ahead of analysts’ estimates. The company also plans to increase its capital spending by around 40% this year after reporting a 35% jump in profit for the latest quarter.
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Both Goldman Sachs (GS) and Morgan Stanley (MS) reported a strong year for their investment banking businesses, as the dealmaking boom spread across Wall Street for most of 2025.
*Analysts of 5i Research responsible for this report do not have a financial or other interest in securities mentioned. The i2i Fund does not have a financial or other interest in securities mentioned.
Special Report - The AI Compute Stack and the Stocks That Power It
Our new special report, The AI Compute Stack and the Stocks That Power It, is now live, breaking down the full AI infrastructure stack and the companies enabling and monetizing AI at scale. It highlights where constraints are forming, where value is accruing, and which North American stocks are best positioned to benefit.
Report Updates
We have posted report updates on Enbridge (ENB) and StorageVault Canada (SVI). ENB is a natural gas utility provider and distributor, and SVI is one of the largest storage providers in Canada. We see one company as having inflation-protected earnings and predictable cash flows that support its balance sheet, while the other has been a unique compounder in its field.
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Dropping Coverage
We are dropping coverage on Richards Packaging Income Fund (RPI.UN). Since our initial coverage in 2016, we have upgraded the name a couple of times, but recently, it has changed its legal status from an income fund trust to a corporation. It has also changed its name to Richards Group (RIC), effective in December 2025. Its share price has been stagnant for a few years now, and while we believe its valuation could be considered cheap if growth resumes, broadly, we believe there are better opportunities in the current market.
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