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Msg  71591 of 72271  at  5/18/2022 12:55:24 PM  by



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Source: Thomson Reuters

  • Futures for Canada's main stock index inched lower, tracking world stocks, amid downbeat global mood on concerns over economic growth and rising consumer prices, while investors awaited domestic inflation data due later in the day
  • The U.S. dollar bounced back, while weighing on gold prices, as U.S. Federal Reserve chief Jerome Powell struck a more hawkish tone as the central bank battles to rein in surging inflation
  • Oil prices rose on expectations that easing COVID-19 restrictions in China will boost demand and as supply concerns grew
Source: Thomson Reuters

China Eastern Airlines Corp Ltd. (CEA):
  • Investigators looking into the crash of a China Eastern jet are examining the actions of the crew on the flight deck, with no evidence found of a technical malfunction, two people briefed on the matter said
  • The pilots did not respond to repeated calls from air traffic controllers and nearby planes during the rapid descent, authorities have said
  • Flight data from one of the black boxes indicated that someone in the cockpit intentionally crashed the plane, citing people familiar with the preliminary assessment of U.S. officials
  • One source said that investigators were looking at whether the crash was a "voluntary" act involving crew inputs to the controls, though that does not necessarily mean the dive was intentional
Microsoft Corp. (MSFT):
  • The company, which had been fined 1.6 billion euros by EU antitrust regulators, will revise its licensing terms and allow cloud service providers to better compete in response to complaints, its president Brad Smith said
  • The company was taking the first step but not the last to address the concerns, Smith told a conference organised by think tank Bruegel in Brussels, adding that Microsoft wants to listen and act on the complaints
  • Smith said the changes include allowing cloud service providers to offer Windows as a complete desktop operating system, providing longer-term price protection and revising licensing terms
Source: Thomson Reuters

Lowe's Cos Inc. (LOW):
  • The company reported a bigger-than-expected drop in same-store sales, as cold and wet weather during April hit demand for seasonal goods
  • Same-store sales decreased 4% in the first quarter ended April 29, compared with Wall Street expectation of a 2.5% fall
  • Net earnings edged higher to $2.33 billion, or $3.51 per share, from $2.32 billion, or $3.21 per share, a year earlier
  • Analysts had expected $3.22 per share
  • "Because 75% of our customer base is DIY, our Q1 sales were disproportionately impacted by the cooler spring temperatures," Chief Executive Officer Marvin Ellison said in a statement
  • Lowe's also reaffirmed its fiscal 2022 outlook
Target Corp. (TGT):
  • The company’s first-quarter profit halved and it warned of a bigger margin hit due to rising fuel and freight costs, in a clear sign that deep-pocketed U.S. retailers are no longer immune to surging inflation
  • Keeping a large section of its products affordable has helped Target's comparable sales grow 3.3% in the three months ended April 30, above expectations of an about 0.5% increase
  • The company maintained its full-year sales forecast, but predicted that operating margin will grow at a slower pace of around 6% compared to a prior forecast of 8% or higher
  • Target's total revenue rose by a better-than-expected 4% to $25.17 billion in the quarter
  • Net profit fell about 52% to $1.01 billion and excluding items, the retailer earned $2.19 per share
Source: Bloomberg Finance L.P.
  • Chair Jerome Powell talked tough on inflation Tuesday, saying that "no one should doubt" the Federal Reserve's resolve to quell US inflation
  • Twitter Inc.’s board said it plans to enforce its $44 billion agreement to be bought by Elon Musk
  • The proposed takeover includes a $1 billion breakup fee for each party, which Musk will have to pay if he ends the deal or fails to deliver the acquisition funding as promised
  • Finland and Sweden officially submitted their applications to join NATO this morning
  • Russia President Vladimir Putin said he sees no threat from the countries joining the military alliance
  • US stock futures declined, the S&P 500 dropped 0.3% and Nasdaq 100 fell 0.5% as of 5:50 a.m. in New York
  • In Europe, stocks were mixed as the Stoxx 600 fell 0.1%
  • Miners, tech and banks were the worst performing sectors
Enthusiast Gaming Holdings* (EGLX: $3.15)
InterCure Ltd.* (INCR.U: $7.16)
MCI Onehealth Technologies Inc.* (DRDR: $1.08)
Thunderbird Entertainment Inc.* (TBRD.V: $3.50)

Greenlane Holdings, Inc.* (GNLN: $0.38)
Rocket Lab USA* (RKLB: $5.66)
Vintage Wine Estates* (VWE: $8.00)

You are 4x to 7x more likely to suffer a disability or critical illness than death before age 65. Do you have any living benefits coverage?


Dip-buying heats up


Sources: Bloomberg Finance L.P.
CPI NSA MoM comes in at 0.6%, higher than estimate 0.5%
CPI YoY comes in at 6.8%, higher than estimate 6.7%


Source: Bloomberg Finance L.P.
Bill Hwang Seeks Probe of Morgan Stanley Over Short Squeeze

“Don't save your best for when you think the material calls for it. Always bring your full potential to every take, and be on top of your job, or they will replace you.”

- Gabrielle Union

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

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