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Msg  68216 of 68382  at  9/24/2020 12:44:56 PM  by

carswell


Coffee/Summaries

BEFORE THE OPEN
Source: Thomson Reuters

  • Canada’s main stock index futures were higher, after the country’s bourse sharply slumped in the previous session
  • U.S. stock index futures were little changed ahead of weekly jobless claims data
  • Major European indexes and stocks in Asia fell on concern about another economic hit from the coronavirus pandemic
  • The U.S. dollar was up, boosted by its safe-haven appeal
  • Gold dropped as analysts said the lack of additional stimulus measures reduced the metal's appeal
  • Oil prices rebounded after falling earlier on a frail demand outlook
EARNINGS SPOTLIGHT
Source: Thomson Reuters

BlackBerry Ltd (BB):
  • The company’s quarterly revenue topped Wall Street estimates, rising nearly 6%, as demand for the Canadian company's security software suite, Spark, and its QNX car software rose
  • The company also benefited from higher sales of its core security software as companies continue to strengthen their IT security to support remote working trends
  • Total revenue for the second quarter ended Aug. 31 was $259 million, higher than analysts' estimates of $237.03 million
  • Excluding items, the company reported a profit 11 cents per share, compared with analysts' estimates of a profit of 2 cents per share
  • Net loss narrowed to $23 million, or 4 cents per share, from $44 million, or 10 cents per share, a year earlier
STOCK IN THE NEWS
Source: Thomson Reuters

Apple Inc (AAPL):
  • A group of the company's critics - including Spotify Technology, Match Group and "Fortnite" creator Epic Games - have joined a nonprofit group that plans to advocate for legal and regulatory action to challenge the iPhone maker's App Store practices
  • The Coalition for App Fairness, structured as a nonprofit based in Washington, D.C. and Brussels, said it plans to advocate legal changes that would force Apple to change
  • Beyond Epic, Match and Spotify, other members include smaller firms such as Basecamp, Blix, Blockchain.com, Deezer, and Tile, along with developers from Europe including the European Publishers Council, News Media Europe and Protonmail
AstraZeneca PLC (AZN):
  • The company is still waiting for the U.S. drug regulator to approve the restart of the clinical trial of its potential COVID-19 vaccine in the United States almost three weeks after it was paused due to safety concerns
  • The U.S. trial of AstraZeneca's COVID-19 vaccine candidate, initially developed by the University of Oxford, remains on hold while regulators investigate an illness in one of the participants, even after a British study and other programmes outside of the United States have resumed
Northern Dynasty Minerals Ltd (NDM):
  • The chief executive of Pebble Limited Partnership, the company trying to develop Alaska's Pebble Mine project, resigned on Wednesday after his comments on elected and regulatory officials in the U.S. state were covertly videotaped and released by an environmental activist group, its Canadian parent said
  • The comments by Tom Collier embellished both his and the company's relationships with elected officials and federal representatives in Alaska, including Governor Michael Dunleavy, Senators Lisa Murkowski and Dan Sullivan and senior representatives of the U.S. Army Corps of Engineers, Northern Dynasty Minerals said
  • "The unethical manner in which these tapes were acquired does not excuse the comments that were made, or the crass way they were expressed," Northern Dynasty CEO Ron Thiessen said in a statement
Tesla Inc (TSLA):
  • The company’s plan to produce lithium for electric vehicle batteries close to its Nevada Gigafactory faces stark challenges from the outset, including an onerous permitting process, uncertain access to water and questions about unproven methodologies
  • Chief Executive Officer Elon Musk told shareholders on Tuesday Tesla has secured rights to 10,000 acres in Nevada where it aims to produce lithium from clay deposits using a process developed internally
  • The plan drew backlash almost immediately, with critics describing Musk's plan as too simplistic and light on details
  • Returning rock to the earth after minerals are extracted, for instance, is already common industry practice through the use of tailings dams
THINGS TO KNOW
Source: Bloomberg Finance L.P.
  • President Donald Trump refused to commit to a peaceful transfer of power if a tally of ballots show Democrat Joe Biden is victorious in November
  • The president has criticized the legitimacy of mail-in voting, and yesterday made the point that it was important to have the new Supreme Court justice confirmed before the election as the result "will be before the United States Supreme Court and I think having a 4-4 situation is not a good situation"

Aurora Cannabis Inc.* (ACB: $6.90)
Kraken Robotics Inc* (PNG: $0.63)
WildBrain Ltd.* (WILD: $1.17)

bluebird bio, Inc.* (BLUE: $55.95)
Blueprint Medicines Corp.* (BPMC: $89.64)
Stitch Fix, Inc. Class A* (SFIX: $26.51)
Tesla Inc* (TSLA: $380.36)


INDUSTRY UPDATE
Canadian Banks
Oil


MORNING INK REPORT
Will Crew Energy sink below its 200-day moving average?

MACRO - EVENT SCHEDULE
Source: Bloomberg Finance L.P.
Initial jobless claims in the U.S. rose 870k in the week ended September 19, 2020

MOST READ NEWS
Source: Bloomberg Finance L.P.
JPMorgan Is Set to Pay $1 Billion in Record Spoofing Penalty

“Instant gratification takes too long.”

- Carrie Fisher

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


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