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Msg  71417 of 72054  at  4/14/2022 11:02:37 AM  by

carswell


Coffee/Summaries

Web Version

BEFORE THE OPEN
Source: Thomson Reuters

  • Futures for Canada's main stock index edged lower, pressured by lower bullion and crude prices, as investors awaited a batch of economic data due later in the day
  • Oil prices slipped on an anticipation of larger-than-expected U.S. stockpiles
  • U.S. stock futures were mixed amid earnings from a slew of major U.S. banks
  • European shares edged higher after a mixed batch of earnings
  • The euro rose against the dollar ahead of ECB's rate decision
STOCKS IN THE NEWS
Source: Thomson Reuters

Barrick Gold Corp. (ABX):
  • The miner said first-quarter production fell 17.7% from the previous three months, hurt by lower output at its Carlin and Cortez mines
  • Barrick said gold output was lower because of a mechanical mill failure at its Carlin and Cortez mines and a depletion of stockpiled higher grade underground ore
  • The company, which is scheduled to release its first-quarter results on May 4, said the average market price for gold in the quarter was $1,877 per ounce, up from $1,795 per ounce in the prior quarter
  • Barrick said it expects the company's all-in sustaining costs (AISC) for gold, a key industry metric, to be 19% to 21% higher from the fourth quarter
Twitter Inc. (TWTR) & Tesla Inc. (TSLA):
  • Billionaire Elon Musk has offered to buy Twitter for about $41 billion in cash, saying the social media company he has often criticized needs to go private to see effective changes
  • Musk's offer price of $54.20 per share, which was disclosed in a regulatory filing, represents a 38% premium to Twitter's April 1 close, the last trading day before the Tesla CEO's more than 9% stake in the company was made public
  • The total deal value was calculated based on 763.58 million shares outstanding, according to Refinitiv data
  • "Since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company," Musk said in a letter to Twitter Chairman Bret Taylor
  • Meanwhile, a federal judge said on Wednesday Tesla was liable to a Black elevator operator who said the electric car company ignored racial abuse at the factory where he worked, but reduced a nearly $137 million jury award to $15 million
THINGS TO KNOW
Source: Bloomberg Finance L.P.
  • The European Union has warned member states that President Vladimir Putin’s demand that “unfriendly countries” effectively pay for Russian gas in rubles would violate sanctions
  • The European Central Bank is likely to maintain its faster withdrawal of stimulus as it tackles concerns around inflation and economic growth while the war in Ukraine continues
  • Elon Musk launched a $43 billion hostile takeover of Twitter
  • The world’s richest man will pay $54.20 per share in cash, representing a 54% premium over the Jan 28. closing price, sending the shares soaring premarket


Ascend Wellness Holdings.* (AAWH.U: $3.53)
Osisko Gold Royalties Ltd.* (OR: $17.48)




NanoString Technologies.* (NSTG: $21.87)
Vapotherm.* (VAPO: $6.51)

INDUSTRY UPDATE
Oil

MORNING INK REPORT
Evans buys as Pan Global Resources works on Escacena

MACRO - EVENT SCHEDULE

Sources: Bloomberg Finance L.P.
Initial Jobless Claim comes in at 185k, higher than estimates of 173k

MOST READ NEWS

Source: Bloomberg Finance L.P.

Musk Makes $43 Billion Hostile Bid to Take Twitter Private
“Either write something worth reading or do something worth writing.”

- Benjamin Franklin

ASSET CLASS PERFORMANCE
Source: FactSet
*All numbers presented on the table below are based on total return


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