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Msg  71533 of 72054  at  5/6/2022 11:20:22 AM  by



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Source: Thomson Reuters

  • Canada’s main stock index futures were slightly lower ahead of the monthly jobs data
  • U.S. stock index futures edged down, with investors awaiting the closely watched monthly jobs report that could throw light on the path of future rate hikes
  • European stocks fell, heading for its worst week in two months following a carnage on Wall Street in the previous session
  • Japan's Nikkei reversed its course to settle higher as investors snapped up shares on hopes for solid corporate earnings, despite a sell-off in broader Asian markets amid concerns over China's reinforcement of its zero-COVID policy
  • The U.S. dollar lost ground in choppy trade to trade lower after hitting a fresh 20-year high, enhancing appeal for greenback-denominated bullion
  • Oil prices rose on lingering supply concerns
Source: Thomson Reuters

Foot Locker Inc. (FL) & Nike Inc. (NKE):
  • The apparel and accessories retailer is aiming to triple Adidas's sales of sneakers and other items at its stores, as it promotes the products of the German sportswear giant to counter Nike Inc's shrinking presence at the retail chain.
  • Nike, which is building its direct-to-consumer (DTC) business, will account for about 60% of total purchases for 2022, down from 70% in the past year and 75% in 2020, Foot Locker said in February
  • The partnership will target over $2 billion in retail sales by 2025, nearly tripling from 2021 levels, with Adidas expecting to rake in up to 100 million euros more in revenue this year
Tesla Inc. (TSLA):
  • The company is aiming to increase its Shanghai plant's daily output to 2,600 cars from May 16, an internal memo seen by Reuters said, as it seeks to return production to levels before the city locked down to control the spread of COVID-19
  • Tesla, which is currently only running one shift, plans to add more shifts at its Shanghai plant from May 16 to achieve this goal, the memo reviewed by Reuters showed
  • That would bring weekly output to 16,900 vehicles based on Tesla's established work week at the facility
  • It would also represent a return to production levels at the plant before Shanghai lockdown curbs enacted in late March prompted the company to suspend work at the plant
Source: Thomson Reuters

Block Inc. (SQ):
  • The fintech firm led by Jack Dorsey said on Thursday it had not seen a decline in overall consumer spending through April, after reporting a first-quarter operating profit that topped Wall Street targets
  • The company closed its $29 billion acquisition of Australian buy-now-pay-later pioneer Afterpay Ltd during the quarter
  • Afterpay contributed $92 million to the first quarter's gross profit, which was recorded under the Square and Cash app units
  • That helped Cash App post a 26% jump in gross profit
  • Block posted operating earnings, known as adjusted EBITDA, of $195 million, ahead of the Wall Street average expectation of $136 million
  • In the three months ended March 31, revenue fell 22% to $3.96 billion
  • The company earned an adjusted profit of 18 cents per share, below analysts' estimates of 21 cents.
  • The company's bitcoin revenue halved to $1.73 billion, hit by a drop in interest from retail traders as prices of the cryptocurrency retreated after a sharp rally last year that was fueled by its rising acceptance in the mainstream
DoorDash Inc. (DASH):
  • The food delivery company raised its full-year forecast for a key industry metric on Thursday, indicating it has largely skirted labor woes that have plagued most sectors to ensure seamless delivery of food and groceries
  • The company now estimates gross order value, the total value of all app orders and subscription fees, of $49 billion to $51 billion for 2022, compared with its prior range of $48 billion to $50 billion
  • Data from YipitData showed DoorDash's market share in the U.S. food delivery sector improved by one percentage point to 57% in March, with Grubhub ceding ground
  • For the first quarter, however, DoorDash's loss per share widened to 48 cents from 34 cents last year, as it invested heavily in building out its delivery network for groceries and other essentials as well as expanding its international business
  • Revenue was $1.46 billion for the quarter ended March 31. Analysts were expecting a loss of 41 cents per share on revenue of $1.38 billion
Enbridge Inc. (ENB):
  • The company reported a 4.34% rise in first-quarter profit, as a surge in demand for oil and gas boosted the pipeline operator's shipment volumes
  • Canada, the world's fourth-largest crude producer, is looking for ways to boost pipeline utilisation amid surging U.S LNG export volumes to Europe, as it seeks to slash its dependence on Russian energy, following its invasion of Ukraine
  • This has helped Enbridge, which moves about 20% of all gas consumed in the U.S and most of Canada's crude exports to the country
  • Enbridge said it transported 3 million barrels per day (bpd) on its Mainline system in the first quarter, higher than 2.75 million a year earlier
  • Separately, the company said it would jointly develop a low-carbon hydrogen and ammonia production and export facility with energy portfolio company Humble Midstream, at its Ingleside Energy Center (EIEC) in Texas
  • The Calgary-based company's adjusted earnings rose to C$1.7 billion, or 84 Canadian cents per share, in the three months to March 31, from C$1.63 billion, or 81 Canadian cents per share, a year earlier
Source: Bloomberg Finance L.P.
  • Markets staged a cataclysmic about-face on Thursday after the Federal Reserve meeting, frightened that inflation will spiral out of hand even with central banks raising policy rates and signaling more hikes
  • And of course, it's that day of the month when we’re all focused on the one big data point that really matters: U.S. non-farm payrolls
  • Economists estimate that payrolls expanded by 380,000 in April, another piece of evidence that the labor market is tight
  • Meanwhile, with more rate hikes from the Fed and Bank of England in the bag, attention is increasingly focused on the European Central Bank

Dundee Precious Metals Inc.* (DPM: $7.74)
Franco-Nevada Corp.* (FNV: $151.73)
Magnet Forensics Inc.* (MAGT: $23.35)
StorageVault Canada Inc.* (SVI: $10.36)

Evolent Health* (EVH: $29.09)
Global Blood Therapeutics* (GBT: $29.59)
Lion Electric* (LEV: $6.04)
Nevro Corp.* (NVRO: $55.59)


Mortgage veteran buys despite housing headwinds


Sources: Bloomberg Finance L.P.
Initial Jobless Claims at 200K vs estimates of 180K


Source: Bloomberg Finance L.P.
China Orders Government, State Firms to Dump Foreign PCs

“Opportunities don't happen. You create them.”

- Chris Grosser

Source: FactSet
*All numbers presented on the table below is based on total return

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