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Msg  67698 of 67939  at  7/8/2020 11:44:38 AM  by


Morning News Call TD






• U.S. tech giants face hard choices under Hong Kong's new security law
U.S. tech giants face a reckoning over how Hong Kong's security law will reshape their businesses, with their suspension of processing government requests for user data a stop-gap measure as they weigh options, people close to the industry say.
• Canada eyes longer-term debt as servicing costs fall on lower rates -source
Canada is eyeing issuing longer-term debt to take advantage of low interest rates, and expects servicing costs to be lower this fiscal year than was forecast last year despite the billions in emergency spending due to COVID-19, a government source said.
• Insurer Allstate to buy National General for about $4 billion
U.S. Insurer Allstate Corp said on Tuesday it will buy National General Holdings for about $4 billion in cash, scaling up its auto insurance business at a time when the coronavirus has crushed traffic on roads and reduced claims. 
• Germany insists self-regulation not enough for Facebook
Germany is determined to expand its attempts to regulate online hate speech even as Facebook promises to do more to clean up its site after a global advertiser boycott, with politicians saying the issue is too important to leave to self-regulation.
• End of an era? Series of U.S. setbacks bodes ill for big oil, gas pipeline projects
A rapid-fire succession of setbacks for big energy pipelines in the United States this week has revealed an uncomfortable truth for the oil and gas industry: environmental activists and landowners opposed to projects have become good at blocking them in court.

Futures for Canada’s main stock index were little changed and Wall Street futures wobbled in choppy trading while global share markets faltered, as surging coronavirus infections threatened a recovery in the global economy. Gold prices breached $1,800 an ounce for the first time since 2011 as mounting fears over the fast spread of the coronavirus sent investors scurrying for safe havens and the U.S. dollar edged higher. U.S. crude futures were slightly lower on demand concerns.

Cannabis firms see jump in insurance costs to protect leaders as investors sue
Canadian and U.S. cannabis companies are facing a spike in already high costs of insurance to protect top executives from personal liability, following a slew of lawsuits by disgruntled investors alleging fraud and misinformation, with more such action expected. Some of the biggest cannabis companies, including Medmen Enterprises, Canopy Growth, CannTrust Holdings, Aphria Inc and Columbia Care, have faced shareholder litigation, accusing leaders of false claims, failing to act in the interest of all shareholders and attempts to defraud investors.

• Endeavour Mining Corp (EDV). Berenberg raises target price to C$40 from C$36, citing the completion of the merger with Semafo as a transformational event for the company as it brings two core operations – Mana and Boungou – into the portfolio to augment Ity and Houndé.
• Teranga Gold Corp (TGZ). CIBC initiates coverage with outperformer rating and target price of C$18, believing Teranga is an established West African mid-tier gold producer with low-cost and long-life producing assets, enabling the company to deliver on its notable development pipeline.
• Torstar Corp (TSb). RBC raises target price to C$0.63 from C$0.50, following the proposed acquisition by Nordstar Capital in an all-cash transaction.

ECONOMIC EVENTS (All timings in U.S. Eastern Time)
1200 TR IPSOS PCSI for Jul: Prior 42.33
1300 Overall comprehensive risk for Q3: Prior 9.34

July 8:
EXFO Inc (EXF). Expected Q3 loss of 3 cents per share
Firan Technology Group Corp (FTG). Expected Q2 earnings of 3 Canadian cents per share
Goodfood Market Corp (FOOD). Expected Q3 loss of 5 Canadian cents per share
Tecsys Inc (TCS). Expected Q4 earnings of 5 Canadian cents per share

July 9:
Aritzia Inc (ATZ). Expected Q1 loss of 25 Canadian cents per share

CORPORATE EVENTS (All timings in U.S. Eastern Time)
0800 Goodfood Market Corp (FOOD). Q3 earnings conference call
0830 Just Energy Group Inc (JE). Q4 earnings conference call
1400 Slang Worldwide Inc (SLNG). Annual Shareholders Meeting
1700 EXFO Inc (EXF). Q3 earnings conference call

Alimentation Couche-Tard Inc (ATDa). Amount C$0.07
Alimentation Couche-Tard Inc (ATDb). Amount C$0.07

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


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