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Msg  65401 of 65661  at  7/18/2019 10:57:56 AM  by

Gammafriend


Morning News Call TD


 

CANADA EDITION

 

THURSDAY, JULY 18, 2019

 

TOP NEWS
• Revolutionary Guards impound foreign oil tanker in the Gulf - state TV
Iran has seized a foreign tanker smuggling fuel in the Gulf, state television quoted Iran's Revolutionary Guards as saying.
• SAP says big margin gains to wait until 2020
SAP told investors not to expect a major improvement in margins before next year as the German business software group reported a 21% decline in second-quarter operating profit.
• G7 urges strict Libra regime, eyes minimum tax
Digital currencies like Facebook's Libra must be held "to the highest regulatory standards" to ensure they are not used to launder money and that users are protected, a Group of Seven taskforce urged.
• UnitedHealth boosts 2019 profit view on strength in insurance, pharmacy benefits
UnitedHealth Group beat estimates for quarterly profit and raised its 2019 earnings forecast, buoyed by strength in the largest U.S. health insurer's pharmacy benefits management and insurance businesses.
• Aurora Cannabis wins contract to supply medical cannabis to Italy
Canadian pot producer Aurora Cannabis said it had secured a two-year contract to supply medical cannabis to the Italian government.



BEFORE THE BELL
Futures pointed to a higher opening for Canada's main stock index, as oil prices gained after Iran said it had seized a foreign tanker smuggling fuel in the Gulf. U.S. stock index futures were down, in line with Asian markets on signs that the U.S.-China trade war was hurting corporate earnings. Most European shares were slightly higher as investors parsed through corporate results. The U.S. dollar was nearly flat. Gold prices eased from two-week highs on profit-booking. ​


STOCKS TO WATCH
• Aurora Cannabis Inc (ACB). The Canadian pot producer said it had secured a two-year contract to supply medical cannabis to the Italian government. The company will supply a minimum of 400 kg of medical cannabis to the country, one of the most strictly regulated medical cannabis markets in the world. Aurora said it will supply cannabis from its Canadian EU GMP certified facilities and imported into Italy through Aurora Deutschland, its wholly-owned European unit.


GRAPHIC
Trump wants a weaker dollar. It could be a hard sell
President Donald Trump wants a cheaper dollar, saying earlier this month the United States should match what he says are efforts by other countries to weaken their own currencies - giving them an unfair trade advantage. The comments have prompted speculation the president could order sales of the greenback, which is near a multi-decade high and, according to the International Monetary Fund on Wednesday, at least 6% stronger than warranted by economic fundamentals.



ANALYSTS' RECOMMENDATION
• Calfrac Well Services Ltd (CFW). RBC cuts target price to C$6 from C$10, reflecting the company's lower 2020 EBITDA. 
• Kinder Morgan Canada Ltd (KML). Credit Suisse raises rating to neutral from underperform, based on its share price depreciation, which they believe has created excess return potential for the company.
• Trican Well Service Ltd (TCW). CIBC cuts rating to neutral from outperformer, citing the extremely challenged Canadian market, and as the company lost some key clients over the past year. ​



ECONOMIC EVENTS
No economic indicators are scheduled for release.


COMPANIES REPORTING RESULTS
July 18:
West Fraser Timber Co Ltd (WFT). Expected Q2 earnings of 41 Canadian cents per share

July 19:
No major companies are scheduled to report for the day.



CORPORATE EVENTS 
No major events are scheduled for the day.


EXDIVIDENDS
There are no major exdivs for the day.


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


 


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