Personal and business banking lift CIBC profits higher while analyst projections bring Finning stocks down — here are the past week’s corporate winners and losers
Winners
Canadian Imperial Bank of Commerce (CM.TO) +5.0%
CIBC may be the smallest of the Big Five banks, but it sure is mighty. It saw a 321 per cent increase in net income to $1.7 billion for the second quarter of 2021 compared to $392 million last year. Its personal and business banking division was responsible for most of its net income gains with a 270 per cent increase year-over-year with commercial banking and wealth management taking “last” place with a 94 per cent gain. In its U.S. division,…
