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TOP NEWS
• Control of Congress - and Biden's power - on the ballot in U.S. midterms
Americans cast the final ballots in U.S. midterm elections that will
determine whether Democrats lose control of Congress, and with it the
ability to push forward on President Joe Biden's agenda in the next two
years.
• U.S. small business sentiment falls in October -NFIB
U.S. small-business confidence edged down in October as stubbornly high
inflation weighed on sentiment and more owners forecast a deteriorating
outlook for the economy, a survey showed.
• Nvidia offers new advanced chip for China that meets U.S. export controls
U.S. chip maker Nvidia is offering a new advanced chip in China that
meets recent export control rules aimed at keeping cutting-edge
technology out of China's hands, the company confirmed on Monday.
• DuPont beats profit estimates, launches $5 bln share buyback plan
DuPont de Nemours beat Wall Street expectations for third-quarter profit
as strong demand for electronics and other industrial products helped
it offset cost pressures.
• Elon Musk's Twitter girds for surge in U.S. midterm election misinformation
Days after Twitter fired half its staff and new owner Elon Musk tweeted a
recommendation to vote for Republican candidates, election experts are
anxiously bracing for a surge in online misinformation as Americans head
to the polls.
BEFORE THE BELL
Futures for Canada’s main stock index rose, tracking Wall Street futures and European
equities also advanced ahead of a crucial U.S. midterm
election that will determine control of Congress, with Republicans
favored by polls to win control of the House of Representatives and
possibly the Senate. The U.S.
dollar steadied, pushing gold lower. Japan's Nikkei ended at a near eight-week high, as investors scooped
up chips and other technology stocks, with overnight Wall Street gains aiding sentiment. Oil prices slipped as recession concerns and worsening COVID-19 outbreaks in China heightened fears
of lower fuel demand.
COLUMN
U.S.
rush for renewable diesel may ignite fresh food fight: Maguire
American trucking firms and airlines are on course to consume more
renewable diesel than biodiesel for the first time in 2022, marking a
significant milestone not just for the domestic fuel sector but also for
global edible oil markets.
ANALYSTS' RECOMMENDATION
• Capital Power Corp:
Credit Suisse raises target price to C$56 from C$53, revising their
2022 and 2023 EPS estimates to reflect the company’s third-quarter
results and a few operational changes.
• Eupraxia Pharmaceuticals Inc:
Canaccord Genuity cuts target price to C$5.75 from C$6.50, saying that
the recent run up in the company’s share price diluted their valuation.
• Imperial Oil Ltd:
RBC raises target price to C$81 from C$79, to reflect the company’s
capable leadership team, favorable long-term operating outlook, strong
balance sheet and commitment
to shareholder returns.
• Sleep Country Canada Holdings Inc:
CIBC cuts target price to C$24 from C$29, expecting the next few
quarters to show challenging year-on-year results for the company.
COMPANIES REPORTING RESULTS
November 8:
Andlauer Healthcare Group Inc: Expected Q3 earnings of 41 Canadian cents per share
Converge Technology Solutions Corp: Expected Q3 earnings of 10 Canadian cents per share
Element Fleet Management Corp: Expected Q3 earnings of 26 Canadian cents per share
EQB Inc: Expected Q3 earnings of C$2.11 per share
Freehold Royalties Ltd: Expected Q3 earnings of 32 Canadian cents per share
Home Capital Group Inc: Expected Q3 earnings of 97 Canadian cents per share
IAMGOLD Corp: Expected Q3 loss of 3 cents per share
Intact Financial Corp: Expected Q3 earnings of C$2.76 per share
Lundin Gold Inc: Expected Q3 earnings of 24 cents per share
Maple Leaf Foods Inc: Expected Q3 earnings of 7 Canadian cents per share
Obsidian Energy Ltd: Expected Q3 earnings of 88 Canadian cents per share
Pet Valu Holdings Ltd: Expected Q3 earnings of 37 Canadian cents per share
SSR Mining Inc: Expected Q3 earnings of 5 cents per share
TransAlta Corp: Expected Q3 earnings of 29 Canadian cents per share
Xenon Pharmaceuticals Inc: Expected Q3 loss of 52 cents per share
November 9:
Altius Minerals Corp: Expected Q3 earnings of 21 Canadian cents per share
ATS Automation Tooling Systems Inc: Expected Q2 earnings of 53 Canadian cents per share
Birchcliff Energy Ltd: Expected Q3 earnings of 56 Canadian cents per share
Boralex Inc: Expected Q3 loss of 16 Canadian cents per share
Boyd Group Services Inc: Expected Q3 earnings of 69 cents per share
Canopy Growth Corp: Expected Q2 loss of 27 Canadian cents per share
CCL Industries Inc: Expected Q3 earnings of 94 Canadian cents per share
CGI Inc: Expected Q4 earnings of C$1.55 per share
dentalcorp Holdings Ltd: Expected Q3 earnings of 6 Canadian cents per share
Enerflex Ltd: Expected Q3 earnings of 7 Canadian cents per share
Exchange Income Corp: Expected Q3 earnings of C$1.16 per share
First Majestic Silver Corp: Expected Q3 loss of 3 cents per share
Fortuna Silver Mines Inc: Expected Q3 earnings of 3 cents per share
Galaxy Digital Holdings Ltd: Expected Q3 loss of 1 Canadian cent per share
GDI Integrated Facility Services Inc: Expected Q3 earnings of 47 Canadian cents per share
iA Financial Corporation Inc: Expected Q3 earnings of C$2.27 per share
Keyera Corp: Expected Q3 earnings of 46 Canadian cents per share
Kinross Gold Corp: Expected Q3 earnings of 6 cents per share
Leon's Furniture Ltd: Expected Q3 earnings of 72 Canadian cents per share
Linamar Corp: Expected Q3 earnings of C$1.77 per share
Manulife Financial Corp: Expected Q3 earnings of 69 Canadian cents per share
MEG Energy Corp: Expected Q3 earnings of 89 Canadian cents per share
Northland Power Inc: Expected Q3 earnings of 21 Canadian cents per share
Nuvista Energy Ltd: Expected Q3 earnings of 59 Canadian cents per share
Osisko Gold Royalties Ltd: Expected Q3 earnings of 9 Canadian cents per share
Pan American Silver Corp: Expected Q3 loss of 8 cents per share
Peyto Exploration & Development Corp: Expected Q3 earnings of 43 Canadian cents per share
Power Corporation of Canada: Expected Q3 earnings of 90 Canadian cents per share
Rogers Communications Inc: Expected Q3 earnings of 86 Canadian cents per share
Russel Metals Inc: Expected Q3 earnings of C$1.18 per share
Stella-Jones Inc: Expected Q3 earnings of C$1.03 per share
Sunopta Inc: Expected Q3 earnings of 00 break even per share
Superior Plus Corp: Expected Q3 loss of 30 Canadian cents per share
TC Energy Corp: Expected Q3 earnings of 99 Canadian cents per share
Trulieve Cannabis Corp: Expected Q3 loss of 3 cents per share
Vermilion Energy Inc: Expected Q3 earnings of C$1.97 per share
Wesdome Gold Mines Ltd: Expected Q3 earnings of 3 Canadian cents per share
WSP Global Inc: Expected Q3 earnings of C$1.58 per share
CORPORATE EVENTS (All timings in U.S. Eastern Time)
0800 Maple Leaf Foods Inc: Q3 earnings conference call
0800 Home Capital Group Inc: Q3 earnings conference call
0830 Pet Valu Holdings Ltd: Q3 earnings conference call
0900 Innergex Renewable Energy Inc: Q3 earnings conference call
1000 Finning International Inc: Q3 earnings conference call
1000 Triple Flag Precious Metals Corp: Q3 earnings conference call
1100 TransAlta Corp: Q3 earnings conference call
EX-DIVIDENDS
Tourmaline Oil Corp: Amount C$2.25
(All analysts' estimates are according to I/B/E/S Refinitiv data)
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