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Msg  67072 of 67433  at  3/30/2020 12:22:28 PM  by

Gammafriend


Morning News Call TD


 

CANADA EDITION

 

MONDAY, MARCH 30, 2020

 

TOP NEWS
• Canada's top lenders cut prime rates after central bank's surprise move
Canada's top lenders lowered their prime rates by 50 basis points on Friday, hours after the central bank unexpectedly cut its key interest rate to help the county weather the economic fallout of the coronavirus pandemic.
• Canada delays capital changes for smaller banks, eases liquidity rules
Canada's banking regulator is postponing the implementation of changes to capital requirements for smaller banks as part of a slew of measures undertaken by authorities to limit the economic fallout from the coronavirus pandemic, it said on Friday.
• Oil tanker rates double as demand for storage and transport resurfaces
Supertanker freight rates are on the rise for a second time this month as producers, refiners and traders scramble to secure ships to transport crude or store a fast-growing global glut of oil, industry sources said.
• Coronavirus crisis a 'game changer' for oil sector -Goldman Sachs
The coronavirus pandemic and resulting plunge in crude prices will result in a leaner, stronger oil industry but raise the risk of shortages further down the line, Goldman Sachs analysts said.
• Canada to stop people with COVID-19 symptoms boarding domestic flights, trains
Canada will not allow anyone displaying symptoms of the COVID-19 respiratory illness to board domestic flights or inter-city passenger trains, Prime Minister Justin Trudeau said on Saturday, the latest travel restriction aimed at curbing the coronavirus outbreak.



BEFORE THE BELL
Futures for Canada’s main stock index were in the green, after the Canadian government said on Friday it would cover 75% of wages for small businesses and the central bank cut its key interest rate. Wall Street futures see-sawed, as President Donald Trump extended his stay-at-home guidelines until the end of April. European shares fell. Japan’s Nikkei dropped on fears that Tokyo could face its first-ever lockdown. The U.S. dollar snapped a week of declines, rising against major currencies, while gold was steady. Oil prices fell sharply, with U.S. crude briefly dropping below $20 and Brent hitting its lowest level in 18 years, on worries that demand for fuel could decline further.


STOCKS TO WATCH
• Air Canada (AC) & Transat AT Inc (TRZ). Air Canada's proposed C$720 million acquisition of tour operator Transat AT will result in a substantial lessening or prevention of competition, the Canadian Competition Bureau said on Friday. The deal would result in increased prices, less choice, decreases in service and a significant reduction in travel on routes where their existing networks overlap, the agency said. Transat, which runs leisure carrier Air Transat, remained confident of the deal with Air Canada, saying one must "not draw any direct conclusions from (the bureau's report) with regard to the final decision." Air Canada in an emailed statement said it would review the report in due course and that its current priority was its employees, customers and implementing cost savings to conserve cash during the coronavirus outbreak.
• Royal Bank of Canada (RY), Toronto-Dominion Bank (TD), Bank of Nova Scotia (BNS), Bank of Montreal (BMO) & Canadian Imperial Bank of Commerce (CM). Canada's top lenders lowered their prime rates by 50 basis points on Friday, hours after the central bank unexpectedly cut its key interest rate to help the county weather the economic fallout of the coronavirus pandemic. The banks have cut their prime rates to 2.45%, effective March 30. The Bank of Canada cut its overnight interest rate by 50 basis points to 0.25%, its lowest level since June 2010 and the third cut in March. Separately, Canada's financial regulator eased its capital and liquidity requirements for banks, changed credit loss provisioning and allowed more loans to be securitized.



COLUMN
Coronavirus demand hit renders OPEC+, Trump manoeuvres irrelevant: Russell
Imagine for a moment that the Organization of the Petroleum Exporting Countries (OPEC) and Russia had agreed at the start of this month to extend and deepen their crude oil output cuts. It wouldn't have made the blindest bit of difference.



ANALYSTS' RECOMMENDATION
• Corus Entertainment Inc (CJRb). RBC cuts target price to C$4 from C$7, citing downturn in television and radio advertising due to direct and indirect COVID-19 impacts. 
• Norbord Inc (OSB). Credit Suisse cuts target price to C$28 from C$45, reflecting near-term challenges to OSB pricing and fundamental demand due to extensive mandated shutdowns across most of North America and the company’s key European markets. 



ECONOMIC EVENTS 
No economic indicators are scheduled for release.


COMPANIES REPORTING RESULTS
March 30:
Gran Colombia Gold Corp (GCM). Expected Q4 earnings of 45 Canadian cents per share
Great Panther Mining Ltd (GPR). Expected Q4 loss of 3 cents per share
Guyana Goldfields Inc (GUY). Expected Q4 loss of 2 cents per share
Hexo Corp (HEXO). Expected Q2 loss of 8 Canadian cents per share
Knight Therapeutics Inc (GUD). Expected Q4 earnings of 1 Canadian cent per share
Medipharm Labs Corp (LABS). Expected Q4 earnings of 1 Canadian cent per share
Neovasc Inc (NVCN). Expected Q4 loss of $1.12 per share
Park Lawn Corp (PLC). Expected Q4 earnings of 23 Canadian cents per share
Pivot Technology Solutions Inc (PTG). Expected Q4 earnings of 35 cents per share
Sierra Metals Inc (SMT). Expected Q4 earnings of 5 cents per share
Village Farms International Inc (VFF). Expected Q4 earnings of 1 cent per share
VIVO Cannabis Inc (VIVO). Expected Q4 loss of 2 Canadian cents per share

March 31:
BlackBerry Ltd (BB). Expected Q4 earnings of 4 cents per share
Imv Inc (IMV). Expected Q4 loss of 14 Canadian cents per share



CORPORATE EVENTS (All timings in U.S. Eastern Time)
0830 Hexo Corp (HEXO). Q2 earnings conference call
0830 Medipharm Labs Corp (LABS). Q4 earnings conference call
1300 Cargojet Inc (CJT). Annual Shareholders Meeting
1630 Neovasc Inc (NVCN). Q4 earnings conference call
1730 Knight Therapeutics Inc (GUD). Q4 earnings conference call



EX-DIVIDENDS
Acadian Timber Corp (ADN). Amount C$0.29
Ag Growth International Inc (AFN). Amount C$0.20
Airboss of America Corp (BOS). Amount C$0.07
Alaris Royalty Corp (AD). Amount C$0.13
Algonquin Power & Utilities Corp (AQN). Amount $0.14
Altus Group Ltd (Ontario) (AIF). Amount C$0.15
Andlauer Healthcare Group Inc (AND). Amount C$0.06
Andrew Peller Ltd (ADWa). Amount C$0.05
ARC Resources Ltd (ARX). Amount C$0.02
Automotive Finco Corp (AFCC). Amount C$0.01
Badger Daylighting Ltd (BAD). Amount C$0.05
Bird Construction Inc (BDT). Amount C$0.03
Bridgemarq Real Estate Services Inc (BRE). Amount C$0.11
Brompton Split Banc Corp (SBC). Amount C$0.10
Canacol Energy Ltd (CNE). Amount C$0.05
CanWel Building Materials Group Ltd (CWX). Amount C$0.14
Capital Power Corp (CPX). Amount C$0.48
Cervus Equipment Corp (CERV). Amount C$0.11
Chesswood Group Ltd (CHW). Amount C$0.07
Chorus Aviation Inc (CHR). Amount C$0.04
CI Financial Corp (CIX). Amount C$0.18
Decisive Dividend Corp (DE). Amount C$0.03
Dividend Select 15 Corp (DS). Amount C$0.05
Dundee Precious Metals Inc (DPM). Amount $0.02
ECN Capital Corp (ECN). Amount C$0.02
E-L Financial Corp Ltd (ELF). Amount C$1.25
Element Fleet Management Corp (EFN). Amount C$0.04
Enerplus Corp (ERF). Amount C$0.01
Exchange Income Corp (EIF). Amount C$0.19
Extendicare Inc (EXE). Amount C$0.04
Fiera Capital Corp (FSZ). Amount C$0.21
First National Financial Corp (FN). Amount C$0.16
FirstService Corp (FSV). Amount $0.16
Freehold Royalties Ltd (FRU). Amount C$0.05
Gamehost Inc (GH). Amount C$0.05
Gibson Energy Inc (GEI). Amount C$0.34
IGM Financial Inc (IGM). Amount C$0.56
Information Services Corp (ISV). Amount C$0.20
Innergex Renewable Energy Inc (INE). Amount C$0.18
Input Capital Corp (INP). Amount C$0.01
Invesque Inc (IVQu). Amount $0.06
K-Bro Linen Inc (KBL). Amount C$0.10
Kirkland Lake Gold Ltd (KL). Amount $0.12
Labrador Iron Ore Royalty Corp (LIF). Amount C$0.25
Martinrea International Inc (MRE). Amount C$0.05
Maverix Metals Inc (MMX). Amount $0.01
MBN Corp (MBN). Amount C$0.08
Medical Facilities Corp (DR). Amount C$0.07
Morneau Shepell Inc (MSI). Amount C$0.06
Mullen Group Ltd (MTL). Amount C$0.05
NFI Group Inc (NFI). Amount C$0.21
North West Company Inc (NWC). Amount C$0.33
Northland Power Inc (NPI). Amount C$0.10
Nutrien Ltd (NTR). Amount $0.45
Park Lawn Corp (PLC). Amount C$0.03
Peyto Exploration & Development Corp (PEY). Amount C$0.02
Pizza Pizza Royalty Corp (PZA). Amount C$0.07
Pollard Banknote Ltd (PBL). Amount C$0.04
Power Corporation of Canada (POW). Amount C$0.44
PrairieSky Royalty Ltd (PSK). Amount C$0.06
Premium Brands Holdings Corp (PBH). Amount C$0.57
Recipe Unlimited Corp (RECP). Amount C$0.11
Savaria Corp (SIS). Amount C$0.03
Sentry Select Primary Metals Corp (PME). Amount C$0.01
Sienna Senior Living Inc (SIA). Amount C$0.07
Stantec Inc (STN). Amount C$0.15
Superior Plus Corp (SPB). Amount C$0.06
Supremex Inc (SXP). Amount C$0.06
TC Energy Corp (TRP). Amount C$0.81
Terra Firma Capital Corp (TII). Amount C$0.05
TerraVest Industries Inc (TVK). Amount C$0.10
TFI International Inc (TFII). Amount C$0.26
Tidewater Midstream and Infrastructure Ltd (TWM). Amount C$0.01
Timbercreek Financial Corp (TF). Amount C$0.05
Tree Island Steel Ltd (TSL). Amount C$0.02
Tricon Capital Group Inc (TCN). Amount C$0.07
Uni-Select Inc (UNS). Amount C$0.09
Urbanfund Corp (UFC). Amount C$0.01
Vermilion Energy Inc (VET). Amount C$0.11
Whitecap Resources Inc (WCP). Amount C$0.02
WSP Global Inc (WSP). Amount C$0.37
Yamana Gold Inc (YRI). Amount $0.01



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


 


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