• 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
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 shares. European 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.
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.
• 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
• Theratechnologies Inc (TH). National Bank of Canada cuts rating to sector perform, following disappointing second-quarter results.
No economic indicators are scheduled for release.
COMPANIES REPORTING RESULTS
MTY Food Group Inc (MTY). Expected Q2 earnings of 86 Canadian cents per share
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
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.)