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Msg  71885 of 72268  at  7/13/2022 11:35:42 AM  by



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Source: Thomson Reuters

  • Futures for Canada's main stock index ticked higher ahead of a key rate decision where the Bank of Canada is widely expected to make its largest rate hike since the late 1990s to tackle an overheating economy and runaway inflation
  • Wall Street futures gained, while European shares slipped, with investor focus on the key U.S. inflation data, scheduled for release later in the day, for clues on the pace of interest rate hikes by the Federal Reserve
  • Japanese shares closed higher, lifted by chip-related stocks and airlines and the euro hovered just above parity against the U.S. dollar while gold prices steadied
  • Oil prices edged slightly higher
Source: Thomson Reuters

Alphabet Inc. (GOOG):
  • The company said it would slow the pace of hiring for the rest of the year, the latest company to make such a move as decades-high inflation and the fallout from the Ukraine crisis pressure businesses
  • The announcement aligns the parent of search giant Google with other major tech companies including Uber and Twitter and comes a day after Microsoft said it would eliminate some positions
  • "Like all companies, we're not immune to economic headwinds," Alphabet said in a regulatory filing
  • Hiring efforts will be focused towards engineering and technical roles, it said
Rogers Communications Inc. (RCI-B.TO):
  • The Canadian company will be crediting customers with the equivalent of five days service, it said on Tuesday after the Canadian telecoms operator suffered a major outage that paralyzed the country's banking and emergency services last week
  • Rogers has come under pressure from Canadian government, customers and politicians over last Friday's unprecedented glitch that lasted 19 hours
  • On Tuesday, the telecoms regulator ordered Rogers to respond within ten days to its questions about the network outage that impacted millions of Canadians
  • "We know that we need to earn back their trust, and as a first step, we will be crediting our customers with the equivalent of five days service," Rogers said in a statement late on Tuesday
  • Rogers needs to provide a detailed account as to "why" and "how" the outage happened, and what measures the company is putting in place to prevent future outages, the Canadian Radio-television and Telecommunications Commission said in a statement
Tesla Inc. (TSLA):
  • Panasonic Energy, a major Tesla supplier, is working on new technology to increase battery energy density by a fifth by 2030, the Japanese company's chief technology officer told Reuters
  • That gain, if achieved, could boost the driving range of a Model Y, for example, by over 100 km with the same size battery pack or it could allow manufacturers to create roomier and possibly lighter electric vehicles (EVs) while keeping driving range unchanged
  • Panasonic Energy, a core Panasonic Holdings unit, plans to achieve those gains by using a new mix of additives to allow individual cells to run at a higher voltage without damaging the batteries' performance, Shoichiro Watanabe said in an interview
  • "The race among battery makers has been to come up with more potent and effective additives," he said
Source: Thomson Reuters

Delta Air Lines Inc. (DAL):
  • The airline forecast a "meaningful" profit for the full-year as robust travel demand helped it post its strongest quarterly earnings since the start of the pandemic
  • The Atlanta-based carrier expects a solid profit in the third quarter as well, with operating margin estimated to be in the range of 11%-13%
  • The No 3. U.S. airline by fleet size said there is no evidence of a pullback in consumer demand
  • It reported an adjusted profit of $1.44 per share for the second quarter and that was below analysts' expectations of $1.73 per share, according to Refinitiv, yet still marked the carrier's best performance since 2019
  • Revenue for the quarter through June came in at $13.8 billion, topping Wall Street estimates and the company expects third-quarter revenue to be up as much as 5% from 2019, even as its capacity is projected to be down 15%-17%
  • Separately, European plane maker Airbus is in talks with Delta Air Lines to expand the U.S. carrier's existing order for A220 small jetliners, two people familiar with the matter said
Source: Bloomberg Finance L.P.
  • There's a raging debate whether we are already in the midst of a recession, but the final call will be made by the National Bureau of Economic Research
  • Twitter Inc. sued Elon Musk over his abandoned $44 billion takeover bid, accusing the billionaire of having buyer’s remorse after his fortune declined
  • Lawyers say they need only four days in Delaware Chancery Court to prove that the world’s richest man should be forced to honor his agreement and pay $54.20 a share for Twitter
  • President Joe Biden is visiting the Middle East this week as he continues his push to get more barrels into the market
Calibre Mining Corp.* (CXB: $0.89)
Gran Tierra Energy Inc* (GTE: $1.35)
i-80 Gold Corp.* (IAU: $2.16)
Yamana Gold Inc.* (YRI: $6.12)

Bioventus Inc.* (BVS: $7.71)
InMode Ltd.* (INMD: $26.73)
AngioDynamics* (ANGO: $20.02)

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Sources: Bloomberg Finance L.P.
CPI MoM came in at 1.3%, above estimate of 1.1%


Source: Bloomberg Finance L.P.
Stocks Swoon as Treasuries Sound Recession Alarm: Markets Wrap
“We may encounter many defeats, but we must not be defeated.”

- Maya Angelou

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

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