This Could Be a Big Week for the TSX: 3 Stocks to Watch

The last week of April could be a big one for the TSX. Investors are heading into a stretch where earnings, commodity swings, and fresh economic data can all push sentiment around in a hurry. The TSX closed just below recent highs, while oil moved back above US$100 a barrel and Canadian factory sales likely rose 3.5% in March. That leaves the market balancing momentum with nerves, which usually makes stock-specific stories matter even more.

KXS

Kinaxis (TSX:KXS) sits right in the middle of supply chain planning, an area companies still care deeply about when the economy gets messy. The business sells supply chain management software, and that gives it a nice mix of recurring revenue and long-term relevance. Over the last year, the bigger story has been execution. Kinaxis kept growing while many tech names had to work harder to prove they deserved premium valuations.

Furthermore, Kinaxis reported record 2025 results, with annual revenue up 14% to US$536.3 million, Software as a Service (SaaS) revenue up 16% to US$391.1 million, and the adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) margin improving to 22%.

For 2026, management guided for revenue of US$610 million to US$625 million and an adjusted EBITDA margin of 23% to 24%. The stock still is not cheap, so expectations are hardly low. Still, when a big week on the TSX makes investors focus on quality growth, Kinaxis has a real case.

XTC

Exco Technologies (TSX:XTC) makes tooling, moulds, and automotive components, so it gives investors exposure to industrial demand without being a giant headline magnet. That can be useful during a busy market week. Over the last year, Exco has had to navigate tariff uncertainty and a choppy auto backdrop, and in April 2025 it even withdrew its 2026 financial targets because of tariff uncertainty. That’s not ideal, but it does show management is at least being realistic.

More recently, the numbers have been decent. Exco reported fiscal 2025 sales of $615.3 million, fourth-quarter earnings per share (EPS) of $0.22, and free cash flow of $40.7 million for the year. Then in its fiscal first quarter of 2026, sales rose to $149.5 million from $143.6 million, while EPS improved to $0.13 from $0.11. Valuation looks much calmer than most tech names. So while Exco does carry cyclical risk, it also looks like the sort of undervalued industrial name that could surprise if sentiment improves.

OTEX

OpenText (TSX:OTEX) is one of those names that can move sharply when investors decide they like cash flow again. The company sells information management, cloud, and cybersecurity software, and over the last year it has stayed in overhaul mode. Last July, OpenText stock planned to cut nearly 1,200 jobs as part of a business optimization plan meant to save about $150 million in 2025. Not great, but it does show a company trying to protect margins while reshaping itself.

The financial picture still has some appeal. In fiscal 2025, OpenText stock reported revenue of $5.2 billion, adjusted EBITDA of $1.8 billion, and free cash flow of $687 million. In fiscal 2026’s second quarter, revenue came in at $1.3 billion, cloud revenue rose 3.4%, enterprise cloud bookings jumped 18%, and adjusted EBITDA margin reached 37%. OpenText stock now trades at just 13 times earnings, with a dividend yield of 4.7% at writing. That gives investors a mix of income, value, and software exposure, which is not a bad combination for a week when the TSX could get lively.

Bottom line

Put it all together, and this could be a week when the TSX rewards stocks with a clear story. Kinaxis brings growth, Exco brings industrial value, and OpenText stock brings cash flow and income. If the market gets jumpy, these three should still be worth watching closely.

The post This Could Be a Big Week for the TSX: 3 Stocks to Watch appeared first on The Motley Fool Canada.

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Fool contributor Amy Legate-Wolfe has no position in any of the stocks mentioned. The Motley Fool recommends Exco Technologies and Kinaxis. The Motley Fool has a disclosure policy.