These two suppliers of critical building products and services are doing a good job offsetting the impact of tariffs through price increases and other measures. Their rising order backlogs also cut your risk.

SONY GROUP CORP. ADRs $28 is a hold. The Japanese conglomerate (New York symbol SONY; Conservative Growth Portfolio, Manufacturing & Industry sector; ADRs outstanding: 6.0 billion; Market cap: $168.0 billion; Price-to-sales ratio: 1.9; Dividend yield: 0.5%; TSINetwork Rating: Average; www.sony.com) now expects U.S. tariffs will cut its earnings in the fiscal year ending March 31, 2026 by 70 billion yen (roughly $475 million U.S.). That’s down from its earlier prediction of 100 billion yen.

WARNER BROS. DISCOVERY INC. $12 remains a hold. The company (Nasdaq symbol WBD; Aggressive Growth Portfolio, Consumer sector; Shares outstanding: 2.5 billion; Market cap: $30.0 billion; Price-to-sales ratio: 0.8; No dividend paid; TSINetwork Rating: Average; www.wbd.com) plans to split into two new firms—Global Networks will hold its cable channels (including CNN, HBO, TNT, TBS, Cartoon Network, Discovery, HGTV, Food Network, TLC and Animal Planet), while Streaming & Studios will own the Warner Bros. film and TV production studios and the various streaming services, including HBO Max.

These three Finance sector stocks are riskier than the major banks. However, they dominate their niche markets, which should continue to drive their earnings growth. We like all three, but only for aggressive investors.

TEGNA INC. $21 is a hold. The company (New York symbol TGNA, Conservative Growth Portfolio, Consumer sector: Shares outstanding: 160.9 million; Market cap: $3.4 billion; Price-to-sales ratio: 1.1; Dividend yield: 2.4%; TSINetwork Rating: Average; www.tegna.com) owns 64 TV stations and two radio stations in 51 U.S. markets.


In June 2015, Gannett Co. Inc. (New York symbol GCI) spun off its newspaper operation as a separate company operating under the Gannett name.

Telecom giant AT&T continues to benefit from the spinoff of its media operations in April 2022. The split left it to focus on improving its ultrafast 5G wireless and fibre-optic Internet networks.


As part of that strategy, the company recently agreed to buy wireless spectrum from EchoStar. That should give the telecom giant a big advantage when competing for new customers. AT&T is also buying the fibre-optic operations of Lumen Technologies, which greatly expands its coverage area.



Thanks to its improving outlook and rising cash flow, AT&T plans to return a whopping $40 billion to its shareholders between 2025 and 2027 through dividends and share buybacks. After that, the company will probably resume regular dividend increases.

A: The Global X Seasonal Rotation ETF, $31.15, symbol HAC on Toronto (Units outstanding: 5.9 million; Market cap: $183.8 million; www.globalx.ca), aims to continually adjust its investments between stocks, fixed-income instruments, commodities and currencies based on seasonal trends.


The managers believe that investment markets follow these seasonal trends and so have “seasonal rhythms.” Some of these patterns occur over the course of weeks or months; others last only a few days. According to its sales literature, by rotating a portfolio in reaction to these seasonal patterns, a “well-informed investor can realize returns that are superior to a static investment in broader markets and sector markets.”

NortonLifeLock—one of our long-time tech favourites—adopted the new name Gen Digital in 2022. That change followed the company’s acquisition of European cybersecurity firm Avast plc for $8.1 billion.

As you’ve heard us say before, growth by acquisition adds risk, especially with purchases as big as Avast—and Gen Digital’s most-recent purchase, MoneyLion. That new business focuses on digital banking, consumer lending and other financial products.