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Msg  67937 of 68234  at  8/12/2020 12:10:11 PM  by

Gammafriend


Morning News Call TD


 

CANADA EDITION

 

WEDNESDAY, AUGUST 12, 2020

 

TOP NEWS
• Liberty Global surprises with $7.4 billion deal to buy Sunrise in latest telecoms consolidation
Liberty Global plans to take over Switzerland's Sunrise Communications in a surprise $7.4 billion deal announced by the companies.
• U.S. ban on TikTok could cut it off from app stores, advertisers -White House document
President Donald Trump's executive order banning China's TikTok could prevent U.S. app stores from offering the popular short-video app and make advertising on the platform illegal, according to a White House document seen by Reuters.

• Investors revalue Chinese tech giants after U.S. ban
Stock investor Zhu Haifeng halved his once-cherished holdings in Chinese tech giants Tencent and Alibaba after the United States announced on Friday sanctions against some Chinese firms in the latest escalation between the world's two top economies.

• European banks face indigenous calls to end Amazon oil trade
European banks committed to backing action on climate change face allegations of double standards from indigenous groups in Ecuador after a report named them as major players in the trade in oil from the Amazon rainforest. 
• Russia says medics to get anti-COVID shots in two weeks, rejects safety concerns
Russia said the first batch of its Covid-19 vaccine would be ready for some medics within two weeks and rejected as "groundless" safety concerns aired by some experts over Moscow's rapid approval of the drug.​



BEFORE THE BELL
Canadian main stock index's futures gained, supported by oil prices that rose on a bigger-than-expected drop in U.S. crude inventories. U.S. stock index futures rose, even as investors remained on edge due to a stalemate over the next coronavirus federal aid bill. European shares gained, boosted by telecom stocks following Liberty Global's takeover offer for Sunrise. Japan’s Nikkei edged higher as some investors bought shares of major exporters on the back of a weaker yen. The U.S. dollar index slipped, while spot gold rebounded in volatile trade. ​


COLUMN
Markets second-guess policy rollback: Mike Dolan
The once resolute "whatever it takes" message of government support for pandemic-hit economies is fraying at the margins as some recovery from the COVID-19 shock emerges, leaving buoyant markets pondering the prospect of ebbing stimulus.



ANALYSTS' RECOMMENDATION
• Equinox Gold Corp (EQX). CIBC raises target price to C$18 from C$16, after the company reported in-line second-quarter results and revised its annual guidance to factor in impacts of COVID-19.  
• High Liner Foods Inc (HLF). Scotiabank raises target price to C$9.50 from C$9.00, after the company's second-quarter results demonstrated strong margin containment in the context of significantly declining volumes.
• Hydro One Ltd (H). CIBC raises target price to C$30 from C$29, saying the company hasn't had a material impact on operations due to the pandemic and organic growth outlook remains solid.  
• Pinnacle Renewable Energy Inc (PL). National Bank Of Canada raises target price to C$10 from C$8, citing solid second-quarter results. 
• Total Energy Services Inc (TOT). CIBC raises target price to C$4 from C$3.5, after the company delivered a strong second-quarter.​



ECONOMIC EVENTS (All timings in U.S. Eastern Time)
1200 TR IPSOS PCSI for Aug: Prior 44.09​


COMPANIES REPORTING RESULTS
August 12:
Altus Group Ltd (Ontario) (AIF). Expected Q2 earnings of 44 Canadian cents per share
ATS Automation Tooling Systems Inc (ATA). Expected Q1 earnings of 11 Canadian cents per share
CAE Inc (CAE). Expected Q1 loss of 6 Canadian cents per share
ECN Capital Corp (ECN). Expected Q2 earnings of 7 cents per share
Emera Inc (EMA). Expected Q2 earnings of 53 Canadian cents per share
Exchange Income Corp (EIF). Expected Q2 loss of 33 Canadian cents per share
Great Canadian Gaming Corp (GC). Expected Q2 loss of  C$1.25 per share
Green Thumb Industries Inc (GTII). Expected Q2 breakeven per share
Jamieson Wellness Inc (JWEL). Expected Q2 earnings of 21 Canadian cents per share
Leon's Furniture Ltd (LNF). Expected Q2 earnings of 6 Canadian cents per share
Metro Inc (MRU). Expected Q3 earnings of C$1.07 per share
Northland Power Inc (NPI). Expected Q2 earnings of 22 Canadian cents per share
Superior Plus Corp (SPB). Expected Q2 loss of 15 Canadian cents per share
Trulieve Cannabis Corp (TRUL). Expected Q2 earnings of 16 cents per share
Wheaton Precious Metals Corp (WPM). Expected Q2 earnings of 19 cents per share

August 13:
Algonquin Power & Utilities Corp (AQN). Expected Q2 earnings of 12 cents per share
Brookfield Asset Management Inc (BAMa). Expected Q2 earnings of 37 cents per share
Fortuna Silver Mines Inc (FVI). Expected Q2 loss of 2 cents per share​



CORPORATE EVENTS (All timings in U.S. Eastern Time)
0830 Emera Inc (EMA). Q2 earnings conference call
0830 Hudbay Minerals Inc (HBM). Q2 earnings conference call
0830 Trulieve Cannabis Corp (TRUL). Q2 earnings conference call
0900 Metro Inc (MRU). Q3 earnings conference call
1000 ATS Automation Tooling Systems Inc (ATA). Q1 earnings conference call
1000 Wesdome Gold Mines Ltd (WDO). Q2 earnings conference call
1100 CAE Inc (CAE). Annual Shareholders Meeting
1100 Lundin Gold Inc (LUG). Q2 earnings conference call
1330 CAE Inc (CAE). Q1 earnings conference call
1400 Canada Goose Holdings Inc (GOOS). Annual Shareholders Meeting
1700 Altus Group Ltd (Ontario) (AIF). Q2 earnings conference call
1700 Great Canadian Gaming Corp (GC). Q2 earnings conference call
1700 Green Thumb Industries Inc (GTII). Q2 earnings conference call
1700 Jamieson Wellness Inc (JWEL). Q2 earnings conference call
1730 ECN Capital Corp (ECN). Q2 earnings conference call​



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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