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Msg  65354 of 65661  at  7/11/2019 10:32:18 AM  by

Gammafriend


Morning News Call TD


 

CANADA EDITION

 

THURSDAY, JULY 11, 2019

 

TOP NEWS
• Britain says Iran attempted to block its oil tanker
Three Iranian vessels tried to block the passage of a BP-operated tanker through the Strait of Hormuz but withdrew after warnings from a British warship, the British government said.

• Powell testimony, Fed meeting highlight case for 'insurance'
A confidence shock driven partly by the U.S. trade war is at the center of an increasingly persuasive argument for Federal Reserve policymakers seriously considering cutting rates for the first time in a decade.

• OPEC sees lower 2020 demand for its oil, points to surplus
OPEC forecast world demand for its crude will decline next year as rivals pump more, pointing to the return of a surplus despite an OPEC-led pact to restrain supplies.

• Delta CEO sees 'marginal benefit' as competitors grapple with Boeing MAX grounding
Delta Air Lines sees the momentum behind 6.5% quarterly revenue growth continuing throughout the year, Chief Executive Ed Bastian said, citing strong domestic demand that led the No. 2 U.S. carrier to lift its full-year profit forecast.

• American Eagle to start selling cannabis-based products this year
American Eagle Outfitters will start selling cannabidiol (CBD)-infused personal care products in the United States later this year, entering a fast-growing market for daily consumer goods made with cannabis derivatives.​



BEFORE THE BELL
Canada's main stock index futures were flat, with a rise in oil prices to a six-week high limiting losses. U.S. stock futures advanced and Asian equities rose as investors embraced a noticeably dovish stance in the U.S. Federal Reserve Chairman's testimony to the Congress. Meanwhile, European shares pared gains. The U.S. dollar fell against a basket of major currencies. Gold extended gains. New house price index is due to be released later in the day.​


STOCKS TO WATCH
•  CannTrust Holdings Inc (TRST). Danish cannabis firm StenoCare said it would quarantine more batches of cannabis oil from its partner CannTrust  which has sold products from what Canada's federal health regulator called unlicensed facilities. StenoCare said it would now quarantine five batches of the oil.


ANALYSIS
Risks aside, Trump's team sees China trade stance as strength in 2020
As trade talks resume between China and the United States, President Donald Trump's advisers are confident he can portray his stance against Beijing as a strength in the 2020 election, despite making concessions and having no deal in sight. 



ANALYSTS' RECOMMENDATION
• Alimentation Couche Tard Inc (ATDb). CIBC raises price target to C$94 from C$87, stating that same-store sales growth continues to outperform.
• Exfo Inc (EXFO). CIBC cuts price target to $4.25 from $4.50, stating lower than expected fourth-quarter outlook.
• Superior Plus Corp (SPB). CIBC raises price target to C$16 from C$14.5, citing the stability of its energy distribution platform during times of economic uncertainty.​



ECONOMIC EVENTS (All timings in U.S. Eastern Time)
0830 New house price index for May: Expected 0.1%; Prior 0.0%


COMPANIES REPORTING RESULTS
July 11:
Aritzia Inc (ATZ). Expected Q1 earnings of 15 Canadian cents per share
Goodfood Market Corp (FOOD). Expected Q3 loss of 8 Canadian cents per share
Theratechnologies Inc (TH). Expected Q2 earnings of 00 break even per share

July 12:
MTY Food Group Inc (MTY). Expected Q2 earnings of 86 Canadian cents per share



CORPORATE EVENTS (All timings in U.S. Eastern Time)
0800 Goodfood Market Corp (FOOD). Q3 earnings conference call
0830 Firan Technology Group Corp (FTG). Q2 earnings conference call
0830 Theratechnologies Inc (TH). Q2 earnings conference call
0830 Greenspace Brands Inc (JTR). Q4 earnings conference call
1100 Cogeco Inc (CGO). Q3 earnings conference call
1100 Cogeco Communications Inc (CCA). Q3 earnings conference call
1300 Emera Inc (EMA). Shareholders Meeting
1630 Aritzia Inc (ATZ). Q1 earnings conference call



EXDIVIDENDS
Dollarama Inc (DOL). Amount C$0.04​


(All analysts' estimates are according to I/B/E/S Refinitiv data.)


 


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