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Msg  65363 of 70134  at  7/12/2019 11:31:16 AM  by



Friday, July 12, 2019

In Today's Morning Coffee...
Source: Thomson Reuters
  • 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
Source: Thomson Reuters

Campbell Soup Co (CPB):
  • The company said it would sell its Danish unit Kelsen Group to an affiliate of Nutella maker Ferrero for $300 million
  • Belgian holding company CTH Invest, a Ferrero affiliate, said it would take over Kelsen's two production facilities in Denmark and add fine biscuits assortments to its portfolio with the deal
  • "The sale of Kelsen Group supports our strategy to focus on North America where we have iconic brands and strong market positions, while reducing debt," Campbell Chief Executive Officer Mark Clouse said in a statement
Colgate-Palmolive Co (CL):
  • The company said on Thursday it would buy the skin care unit of France's Laboratoires Filorga Cosmétiques for 1.50 billion euros, as the consumer goods company bolsters its personal care business
  • "This acquisition also provides Colgate entry into the fast-growing and sizeable travel retail channel, particularly in Asia," Chief Executive Officer Noel Wallace said
  • The Filorga transaction will be financed with a combination of debt and cash and is currently expected to close in the third quarter, Colgate said, adding that the deal is expected to have no impact on its diluted earnings per share in 2019
Source: Thomson Reuters

Accenture Inc (ACN):
  • The company on Thursday named Julie Sweet as its new chief executive officer, effective September
  • David Rowland, currently interim CEO, has been appointed as executive chairman, the company said
  • Sweet, who will also join the company's board, is currently CEO of Accenture's business in North America, its largest geographic market
  • The company said on Thursday there was no change to the forecast for the fourth quarter and fiscal year 2019 that it had provided earlier
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
Facebook Inc (FB):
  • U.S. President Donald Trump on Thursday criticized Bitcoin, the social media giant’s proposed Libra digital coin and other cryptocurrencies and demanded that companies seek a banking charter and make themselves subject to U.S. and global regulations if they wanted to "become a bank"
  • "I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air," Trump wrote on Twitter. "If Facebook and other companies want to become a bank, they must seek a new Banking Charter and become subject to all Banking Regulations, just like other Banks, both National and International," he added
  • The U.S. Financial Stability Oversight Council, a panel of regulators that identifies risks to the financial system, is expected to conduct a review
Ford Motor Corp (F):
  • Volkswagen will inject $1 billion in capital and $1.6 billion worth of assets into the company’s self-driving unit, a source close to the matter said, as the two carmakers deepen a global alliance to share costs
  • VW and Ford said they were in "exploratory talks" about an alliance to develop self-driving and electric vehicles and to complement each other's global production and sales footprints
  • Volkswagen also plans to build a multi-brand production plant in Turkey, German trade magazine Automobilwoche said
  • As part of a broader deal set to be announced, VW will become an equal stakeholder in Ford's autonomous vehicles venture, the source said, marking the latest technology alliance among global carmakers seeking to develop self-driving cars
Source: Bloomberg Finance L.P.
  • Citing a weakening relationship between unemployment and inflation, Federal Reserve Chairman Jerome Powell signalled the central bank’s interest in easing monetary policy, with investors fully pricing in a quarter-point cut at the Fed’s July 30-31 gathering according to interest-rate futures
  • Repercussions from the trade war continue to take shape, as Singapore reported an unexpected 3.4% annualized decline in the second quarter and Chinese imports from the U.S. plunged 31.4% from a year earlier
  • Despite agreements to extend production cuts into 2020 earlier this month, the latest IEA Oil Market Report suggests that OPEC may need to further dial back on production to prevent another surplus
Cogeco Communications Inc.* (CCA: $98.99)
EXFO Inc.* (EXF: $4.71)
Marathon Gold Corporation* (MOZ: $1.16)
New Gold Inc.* (NGD: $1.43)
SSR Mining Inc* (SSRM: $17.73)
Wesdome Gold Mines Ltd.* (WDO: $5.65)
AAR CORP.* (AIR: $42.62)
Tyme Technologies, Inc.* (TYME: $1.28)


Short interest vaporizes at MediPharm Labs


Source: Bloomberg Finance L.P.
U.S. PPI MoM increased 0.1% in June 2019


Source: Bloomberg Finance L.P.
Stocks Hit Record at Close as Treasuries Retreat: Markets Wrap

“Accept the challenges so that you can feel the exhilaration of victory.”

- George S. Patton

Source: FactSet
*All numbers presented on the table below is based on total return

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