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Msg  67691 of 67939  at  7/7/2020 1:12:32 PM  by

carswell


Coffee/Summaries

BEFORE THE OPEN
Source: Thomson Reuters

  • Futures for Canada’s main stock index fell, as oil prices slipped amid concerns that a surge in new coronavirus cases, especially in the United States, will hamper any recovery in fuel demand
  • Wall Street futures slipped as rising infections dimmed investor enthusiasm for an economic rebound
  • European shares fell on forecasts for a deeper-than-feared recession in the euro zone and Japan’s Nikkei ended down on a record slump in household spending
  • The U.S. dollar rose on fears of a virus resurgence, while gold prices were lower
DEAL SPOTLIGHT
Source: Thomson Reuters

Sunrun Inc (RUN) & Vivint Solar Inc (VSLR):
  • Sunrun said on Monday it will buy Blackstone-backed peer Vivint Solar for about $1.46 billion in an all-stock deal, as the top U.S. residential solar installers look to solidify their market position
  • The deal will also help Sunrun compete better with Tesla's SolarCity in a residential solar market, which, according to the companies, has reached only 3% penetration in the United States
  • Vivint Solar shareholders will receive 0.55 of Sunrun common stock for each share held, representing a premium of 10.4% to Vivint's Monday close
  • The deal, unanimously approved by the companies' boards, is valued at $3.2 billion including debt
STOCKS IN THE NEWS
Source: Thomson Reuters

Becton Dickinson and Co (BDX):
  • The U.S. Food and Drug Administration alerted clinical laboratories and healthcare providers on Monday about false positive results from one of Becton Dickinson and Co's COVID-19 molecular diagnostic tests
  • The test, designed to detect viral nucleic acid from the virus that causes COVID-19, is in use in nearly every state across the U.S. at hundreds of laboratories
  • In one study, the manufacturer found about 3% of the results were false positives, according to the FDA
Moderna Inc (MRNA):
  • As the United States accelerates the search for a coronavirus vaccine, tensions have erupted between government scientists and Moderna, one of the leading developers, Reuters has learned
  • The company - which has never produced an approved vaccine or run a large trial - has squabbled with government scientists over the process, delayed delivering trial protocols and resisted experts’ advice on how to run the study, according to three sources familiar with the vaccine project
  • The sources said those tensions, which have not been previously reported, have contributed to a delay of more than two weeks in launching the trial of the Moderna’s vaccine candidate, now expected in late July
Novavax Inc (NVAX):
  • The U.S. government has awarded the company $1.6 billion to cover testing, commercialization and manufacturing of a potential coronavirus vaccine in the United States, with the aim of delivering 100 million doses by January 2021
  • The award is the biggest yet from "Operation Warp Speed", the White House program aimed at accelerating access to vaccines and treatments to fight the coronavirus that causes COVID-19
Royal Caribbean Group (RCL) & Norwegian Cruise Line Holdings Ltd (NCLH):
  • Cruise industry rivals are teaming up in an effort to sail again
  • On Monday, Royal Caribbean and Norwegian Cruise Line announced a joint task force to help develop safety standards for restarting their businesses during the coronavirus pandemic
  • The “Healthy Sail Panel,” co-chaired by former Utah Governor Mike Leavitt and former U.S. Food and Drug Administration Commissioner Scott Gottlieb, is advising the companies on restart plans they will submit to the U.S. Centers for Disease Control and Prevention and other regulators at the end of August
  • The panel plans to share its findings with the entire cruise industry and regulators
THINGS TO KNOW
Source: Bloomberg Finance L.P.
  • The European Commission cut its growth projections for the euro area further, with its latest forecasts now predicting an 8.7% contraction this year
  • The trouble caused by the slower-than-expected emergence from lockdowns was shown in German industrial production numbers this morning which grew at a slower pace than expected
  • There was little sign of a turnaround in the pace of the virus spread in the U.S., with cases now approaching 3 million

Docebo, Inc.* (DCBO: $42.29)
Endeavour Mining Corporation* (EDV: $33.56)
Great Bear Resources Ltd. Class A* (GBR: $18.65)
K92 Mining, Inc.* (KNT: $4.26)
MediPharm Labs Corp.* (LABS: $1.20)
Protech Home Medical Corp.* (PTQ: $1.12)
Sandstorm Gold Ltd.* (SSL: $12.90)
Valens Company Inc* (VLNS: $2.50)



Conformis Inc* (CFMS: $0.82)
Rada Electronic Industries Ltd.* (RADA: $6.86)
Selecta Biosciences, Inc.* (SELB: $2.74)
Uber Technologies, Inc.* (UBER: $32.52)


INDUSTRY UPDATE
Oil

MORNING INK REPORT
Junior mining is not immune to COVID-19

MACRO - EVENT SCHEDULE

Source: Bloomberg Finance L.P.
Refreshed

MOST READ NEWS

Source: Bloomberg Finance L.P.
Tech Leads U.S. Stock Rally, Sends Nasdaq to High: Markets Wrap

"To see victory only when it is within the ken of the common herd is not the acme of excellence.”

- Sun Tzu

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


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