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Group: Canadian Blue-chip Industrial Forum
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Futures for Canada’s main stock index edged higher as oil prices rose on escalating U.S.-Iran tensions and expectations that OPEC producers will continue to curb supply this year
U.S. stock futures gained after Washington temporarily eased trade restrictions imposed last week on China's Huawei
European shares climbed led by the tech sector
In Asia, Chinese shares ended higher, while Japan’s Nikkei slipped
The dollar index hit a 2-1/2 week high on safe-haven flows, while gold prices eased
EARNINGS SPOTLIGHT Source: Thomson Reuters Home Depot Inc (HD):
The company reported its slowest growth in quarterly same-store sales in at least three years and missed Wall Street estimates, as the home improvement chain was hurt by poor weather in February and a steep fall in lumber prices
Same-store sales at the home improvement chain rose 2.5% in the quarter ended May 5
The company's net income rose to $2.51 billion, or $2.27 per share, from $2.4 billion, or $2.08 per share, a year earlier
STOCKS IN THE NEWS Source: Thomson Reuters
Deutsche Bank AG (DB):
At least three major investors in the bank want Chairman Paul Achleitner to step down early amid discontent with the bank's turnaround, two people with knowledge of the matter said
Achleitner, whose term expires in 2022, is due to face investors at the bank's annual general meeting on Thursday
A spokesman for Deutsche Bank declined to comment, both on behalf of the bank and Achleitner
The sources did not want to identify the three investors, and while they do not have the power to push through management change on their own, their calls are a sign of the pressures facing Germany's biggest bank after years of failed turnarounds
Tesla Inc (TSLA):
Further falls in the company’s share price increase its chances of being sold in the years ahead, Morgan Stanley analysts said on Tuesday, as they slashed their worse-case scenario for the electric car producer to just $10
Analyst Adam Jonas said Tesla's rising debt pile and geopolitical exposure, including the risk that Chinese demand for the company's cars could suffer, had driven him to slash his "bear-case" valuation to $10 from a previous $97
Jonas kept his main price target for the stock at $230 and also has a bull-case valuation of $391
The brokerage retained its "equal-weight" rating on the stock
A federal judge said Walmart, Target and Bed Bath & Beyond must face a lawsuit claiming they sold linens that were falsely labeled "100% Egyptian Cotton" or "100% Long-Staple Egyptian cotton" despite being suspicious of their origin
Monday's decision by U.S. District Judge Vincent Briccetti in White Plains, New York, addressed claims that consumers nationwide overpaid for mislabeled cotton produced by an Indian textile company, Welspun India
He dismissed fraud claims against the retailers because there was no "strong inference of fraudulent intent."
American Airlines Group Inc (AAL):
The company has filed a lawsuit against two unions representing its mechanics, asking the court to halt what it called an illegal slowdown that it said on Monday threatened to disrupt U.S. summer travel
The lawsuit, filed in the Northern District of Texas federal court, accuses the mechanics unions of directing a slowdown aimed at disrupting operations to improve their position in labor talks, which began in 2015
The airline said it has offered its mechanics unions Transport Workers Union of America and the International Association of Machinists an industry-leading proposal in all key respects, including pay and benefits
The unions have complained that American is trying to outsource more maintenance jobs, a move American has indicated is necessary to cover increased wages
THINGS TO KNOW Source: Bloomberg L.P., Thomson Reuters
Media in China have signaled that the country has no interest in resuming trade talks with the U.S if authorities continue to threaten with more tariffs
The next opportunity for both sides to meet will be between Presidents Donald Trump and Xi Jinping at the G-20 summit near the end of June
3 Sixty Risk Solutions Ltd* (SAFE: $0.31), Net Change: $0.005, Change: 1.64% Boardwalk REIT* (BEI.UT: $42.81), Net Change: $0.17, Change: 0.40% DionyMed Brands Inc* (DYME: $2.50), Net Change: $-0.02, Change: -0.79% DREAM Unlimited Corp. Class A* (DRM: $7.47), Net Change: $0.02, Change: 0.27% ProMetic Life Sciences Inc.* (PLI: $0.045), Net Change: $-0.01, Change: -10.00% SNC-Lavalin Group Inc.* (SNC: $26.74), Net Change: $-0.02, Change: -0.07% Supreme Cannabis Company Inc* (FIRE: $1.86), Net Change: $-0.01, Change: -0.53% Turquoise Hill Resources Ltd.* (TRQ: $1.72), Net Change: $-0.03, Change: -1.71%
CLS Holdings USA Inc* (CLSH: $0.28), Net Change: $0.02, Change: 5.66% Dolphin Entertainment Inc* (DLPN: $1.36), Net Change: $0.01, Change: 0.74% Xencor, Inc.* (XNCR: $34.27), Net Change: $0.05, Change: 0.15%
INDUSTRY UPDATE Oil
MORNING INK REPORT Will Halo Labs new products help vaporize the company's red ink?
MOST READ NEWS Source: Bloomberg Finance L.P. China Warns About ‘Unwavering Resolve’ to Fight U.S. ‘Bullying’
“If you don't have integrity, you have nothing. You can't buy it. You can have all the money in the world, but if you are not a moral and ethical person, you really have nothing.”
- Henry Kravis
ASSET CLASS PERFORMANCE Source: FactSet *All numbers presented on the table below is based on total return