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Msg  65362 of 65401  at  7/12/2019 10:16:17 AM  by

Gammafriend


Morning News Call TD


 

CANADA EDITION

 

FRIDAY, JULY 12, 2019

 

TOP NEWS
• Iran calls on Britain to release seized oil tanker immediately
Iran called on Britain to immediately release an oil tanker that British Royal Marines seized last week on suspicion it was breaking European sanctions by taking oil to Syria, a foreign ministry spokesman told state news agency IRNA.

• China says U.S. should "not play with fire" on Taiwan
China's top diplomat Wang Yi warned the United States that it should "not play with fire" on the question of Taiwan, expressing anger about a planned U.S. arms sale.

• IEA sees oil market oversupplied in 2019 on U.S. production
Surging U.S. oil output will outpace sluggish global demand and lead to a large stocks build around the world in the next nine months, the International Energy Agency said.
• CannTrust suspends sales of cannabis products during Canada regulatory review
Canada-based medical cannabis company CannTrust Holdings said on Thursday it suspended sales of cannabis products after the federal health regulator found the company sold marijuana produced in unlicensed facilities.

• As U.S. debt, deficits mount, presidential candidates sweep them under the rug
In four hours of debate among Democratic contenders for the U.S. presidency, the word "deficit" was never uttered and the government's debt was mentioned only once.



BEFORE THE BELL
Canada's main stock index futures edged lower, over concerns about the Sino-U.S. trade war, while higher oil prices limited losses. U.S. stock futures rose, a day after the Dow and S&P 500 closed at record highs, which was tracked by some Asian sharesEuropean stocks were marginally up, supported by financial and mining shares. Against a basket of currencies, the U.S. dollar was lower for a third straight day. Gold prices rose on safe-haven demand.  


STOCKS TO WATCH
• CannTrust Holdings Inc (TRST). The company said on Thursday it suspended sales of cannabis products after the federal health regulator found the company sold marijuana produced in unlicensed facilities. Alberta is placing an unspecified amount of CannTrust products on hold as a precautionary measure, officials said, pending an investigation by Health Canada into whether cannabis from unlicensed facilities is safe for consumption. The impact on financial results is not yet known, CannTrust said. The company has formed a special committee that includes independent members of the board of directors to investigate the matter. 


PREVIEW
Expectations are low for bank earnings but investors say 'buy'
Low interest rates and weak trading volume have pushed down Wall Street's second-quarter estimates for the biggest U.S. banks, yet investors still say they want in on the sector. 



ANALYSTS' RECOMMENDATION
• Alaris Royalty Corp (AD). CIBC raises rating to outperform from neutral, citing a US$60 million follow-on investment in Planet Fitness Growth Partners, a leading health club franchise network. 
• Parkland Fuel Corp (PKI). CIBC raises price target to C$49.5 from C$48, saying that they expect a strong second quarter growth, owing to new updates in organic growth initiatives.
• Theratechnologies Inc (TH). National Bank of Canada cuts rating to sector perform, following disappointing second-quarter results.



ECONOMIC EVENTS
No economic indicators are scheduled for release.


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

July 15:
OrganiGram Holdings Inc (OGI). Expected Q3 earnings of 3 Canadian cents per share
People Corp (PEO). Expected Q3 earnings of 3 Canadian cents per share
Valens Groworks Corp (VGW). Expected Q2 loss of 2 Canadian cents per share



CORPORATE EVENTS (All timings in U.S. Eastern Time)
0830 MTY Food Group Inc (MTY). Q2 earnings conference call
1100 Velan Inc (VLN). Q1 earnings conference call



EXDIVIDENDS
Bonterra Energy Corp (BNE). Amount C$0.01
Diversified Royalty Corp (DIV). Amount C$0.01
Empire Company Ltd (EMPa). Amount C$0.12
Hardwoods Distribution Inc (HWD). Amount C$0.08
Mosaic Capital Corp (M). Amount C$0.03
Premium Income Corp (PICa). Amount C$0.20
Razor Energy Corp (RZE). Amount C$0.01
Shaw Communications Inc (SJRa). Amount C$0.09
TransAlta Renewables Inc (RNW). Amount C$0.07



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


 


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