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Money 4 Stocks to Add to Your TFSA After the Market Slide

17:36  13 february  2018
17:36  13 february  2018 Source:   fool.com

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  4 Stocks to Add to Your TFSA After the Market Slide © Provided by Fool

The S&P/TSX Index bounced back on February 12, gaining 200 points. The TSX has still fallen 5.9% in 2018 thus far, which leaves investors with some questions in mid-February. Naturally, the biggest question is whether or not this is a buy-low opportunity or a pause in what could be a broader correction as markets respond to rising interest rates.

Today, we will look at four stocks that can make great additions to your Tax-Free Savings Account (TFSA) during this period. The stocks below offer the potential for bounce-back capital appreciation after a dip, and all can generate income for your portfolio.

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Snc-Lavalin Group Inc. (TSX:SNC)

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Canadian Pacific Railway Ltd

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This is stocks' worst momentum swing in history

  This is stocks' worst momentum swing in history Oh, how quickly the good times soured. The S&P 500 Index’s 14-day relative strength index -- a technical gauge of the magnitude and speed of price movements -- has swung 57 points lower over the past two weeks.© Provided by Bloomberg LP An Historic Reversal "The journey from ecstasy to agony is entirely unprecedented, in the United States at least," writes Bloomberg macro strategist Cameron Crise, who earlier noted this inauspicious achievement. "That’s the largest momentum swing in history -- and it’s not particularly close."The next-closest reversal was a 48-point drop over the same span in 1987.

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Snc-Lavalin is a Montreal-based global engineering and construction company. Shares of Snc-Lavalin have declined 6.2% in 2018 as of close on February 12. The company is expected to release its 2017 fourth-quarter and full-year results on February 22.

In the third quarter of 2017, Snc-Lavalin posted adjusted net income of $88.6 million, or $0.51 per diluted share, compared to $24.4 million, or $0.16 per diluted share, in Q3 2016. The company was dealt some good news in February, as it emerged the winner with its $6.3 billion bid for a Montreal rail project that will connect the city to its suburbs and international airport. The stock also offers a dividend of $0.27 per share, representing a 2% dividend yield.

3 Reasons Why You Should Bolster Your TFSA Retirement Fund’s Immune System With Shares of This Recent IPO

  3 Reasons Why You Should Bolster Your TFSA Retirement Fund’s Immune System With Shares of This Recent IPO Jamieson Wellness Inc. (TSX:JWEL) is a play on ageing baby boomers. Here's why the stock should be a holding in your TFSA retirement fund.I’m usually not a fan of IPO investing, as it’s very difficult to get a firm grasp of a new publicly traded firm’s long-term trajectory given the limited amount of historical data that’s available for you to analyze. There’s a tonne of hype that follows Canadian IPOs, since good ones are few and far between, but a lot of the time, many IPOs turn out to be duds after the “honeymoon phase” ends in the weeks following new issue day.

Dollarama Inc.(TSX:DOL)

Dollarama stock rose 2.68% on February 12 but has dropped 2.3% in 2018. The Montreal-based company is the largest dollar store retailer in Canada. Dollarama is expected to release its fourth-quarter and full-year results in late March.

In the third quarter, the company posted comparable-store sales growth of 4.6%, and operating income jumped 18.4% to $189.3 million. Dollarama expects other retailers to absorb the brunt of the hit from the minimum wage hike in Ontario, and the company announced no intention to raise its store prices in response. The stock also offers a modest dividend of $0.11 per share, representing a 0.3% dividend yield.

Canadian Pacific Railway(TSX:CP)(NYSE:CP)

CP Rail stock has declined 3% in 2018. The freight company has faced some downward pressure due to a strengthening Canadian dollar, but it has surged since late last year on positive earnings. CP Rail released its fourth-quarter and full-year results on January 18.

Revenues rose 5% to $1.71 billion, and adjusted diluted earnings per share increased 6% to $3.22. For the full year, CP Rail saw revenues hit $6.5 billion — a 5% jump from 2016 — and the company delivered a dividend of $0.56 per share with a 1% dividend yield.

When saving into an RRSP instead of a TFSA could cost you dearly

  When saving into an RRSP instead of a TFSA could cost you dearly RRSPs aren't for everyone.It's the time of year when Canadians are bombarded with ads about filling up their Registered Retirement Savings Plans, or RRSPs. Maximizing your contribution before the March 1 deadline is simply the wise and financially responsible thing to do, the message goes.

Jamieson Wellness Inc.(TSX:JWEL)

Jamieson has dropped 7.3% in 2018. The supplements company is well positioned to grow long term with a business model geared towards an aging population. The company is expected to release its fourth-quarter and full-year results on February 22.

In the 2017 third quarter, Jamieson saw revenues jump 45% to $80.1 million and adjusted EBITDA climb 42.9% to $16.1 million. The stock also offers a dividend of $0.08 per share, representing a 1.5% dividend yield.

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Fool contributor Ambrose O'Callaghan has no position in any of the stocks mentioned.

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