S&P Dow Jones Indices said late Friday that it would remove the Mississauga-based subprime lender from the S&P/TSX Composite Index before the open of trading on June 22, alongside several other companies, including Pet Valu. The index provider did not provide a reason for the changes. (The Logic)

Talking point: GoEasy’s stock plunged 57 percent in March when it revealed bad loans in its merchant-financing unit LendCare. It reported a net loss of $53 million in the first quarter of this year, compared with net income of $39 million a year earlier. Still, Jefferies analyst John Aiken said the results were “far from disastrous” and showed “signs of stabilization.” LendCare continued to weigh on results—it accounted for 41.3 per cent of the loan book, down from 45 per cent a year earlier. The company said it had cut the number of new loans it issued by more than 80 per cent and worked through ongoing credit issues in its existing loans for cars and vehicles like motorcycles and jet skis.