Pet profits down: Inflation, a weak loonie and increased operating costs drove Pet Valu’s Q1 profits down, but the company isn’t tucking its tail. It has big expansion plans, looking to open 40 to 50 new locations this year as the pandemic pet surge keeps spending strong, bringing in $250.3 million in revenue in the first quarter. 

Suncor’s new CEO makes cuts: A 34% drop in year-over-year earnings for the oilsands giant (from $2.95 billion in 2022 to $2.05 billion this year) caused Suncor Energy shares to dip 1.5% Tuesday morning. Newly appointed CEO Rich Kruger, who came out of retirement to take the role, announced cost-cutting plans to offset the losses.

Toyota needs to catch up: The Japanese car manufacturer saw Q1 profits tick up 3% year over year as supply chain pressures eased and shares rose 2.5% after the company announced a stock buyback plan. New CEO Koji Sato is driving the company towards more EV production to meet the demand for low-emission vehicles and will launch ten new EV models in the Chinese and US markets by 2026.