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Msg  70128 of 70492  at  7/26/2021 10:05:19 AM  by

Gammafriend


Morning News Call TD


 

CANADA EDITION

 

MONDAY, JULY 26, 2021

 

TOP NEWS
• China's new private tutoring rules put billions of dollars at stake
China's sweeping new rules in private tutoring has left private education firms facing a significant business impact as Beijing steps up regulatory oversight of a $120 billion industry that investors had bet billions of dollars on in recent years.

• U.S. Senate could open infrastructure debate this week
The U.S. Senate could vote again this week on whether to begin debating a key piece of President Joe Biden's agenda, a $1.2 trillion bipartisan infrastructure plan to rebuild the nation's roads and bridges, if negotiators can finalize the details of the measure.

• Fed now facing twin inflation, growth risks as virus jumps and supply chains falter
A U.S. Federal Reserve divided over how to respond to fast-rising prices meets this week with the fresh complication of increased coronavirus infections and a global supply chain that, far from sorting out its problems, may be headed for more inflation-inducing trouble.

• Canadian union Unifor starts strike at Rio Tinto operations
Canadian union Unifor said on Sunday about 900 workers had started strike action at global miner Rio Tinto's operations in the western Canadian province of British Columbia.

• U.S. judge rules Lithium Americas may excavate Nevada mine site
A U.S. federal judge has ruled that Lithium Americas may conduct excavation work at its Thacker Pass lithium mine site in Nevada, denying a request from environmentalists who said the digging could harm sage grouse and other wildlife.


BEFORE THE BELL
Canada’s main stock index futures inched lower as crude prices dropped on demand concerns and changes to import rules in China. Wall Street futures slipped as locally listed Chinese firms tumbled on tighter regulations in the mainland, souring sentiment at the start of a week packed with tech earnings. European stocks eased and Japan’s Nikkei ended higher, catching the tailwind from a bounce in global peers on positive corporate earnings. Gold prices rose as a softer U.S. dollar and concerns that rising coronavirus cases could stall economic recovery lifted demand for the safe-haven metal. 


STOCKS TO WATCH

Deals Of The Day
• Materia Inc: Kanabo said it would buy Canada-based cannabis producer and distributor Materia for an undisclosed sum. The deal gives Kanabo an entry into the German market, the largest for medical cannabis in Europe, where industry research group Brightfield estimates sales to exceed $2 billion by 2025. Kanabo Chief Executive Officer Avihu Tamir said he expects the merger to result in the largest public cannabis company in the UK and the European Union (EU), where Materia recently won a certification for its 34,000 sq ft Malta facility. "We believe that our combined infrastructure will generate significant value for our shareholders, partners, customers and patients," Materia CEO Deepak Anand said in a statement.

In Other News
• Lithium Americas Corp: A U.S. federal judge has ruled that Lithium Americas may conduct excavation work at its Thacker Pass lithium mine site in Nevada, denying a request from environmentalists who said the digging could harm sage grouse and other wildlife. The ruling marked a rare win for a U.S. critical minerals project as environmental groups increasingly pressure courts and regulators to block mining projects, even if they produce metals key to building electric vehicles. Chief Judge Miranda Du of the federal court in Reno, Nevada, said late on Friday that the digging - needed to determine whether the land holds historical import for Native Americans - may proceed while she determines the broader question of whether former President Donald Trump's administration erred when it approved the project in January. Du said she will try to publish her decision by early 2022. 


INSIGHT
Global supply chains buckle as virus variant and disasters strike
A new worldwide wave of COVID-19. Natural disasters in China and Germany. A cyber attack targeting key South African ports. Events have conspired to drive global supply chains towards breaking point, threatening the fragile flow of raw materials, parts and consumer goods, according to companies, economists and shipping specialists.


ANALYSTS' RECOMMENDATION
• Air Canada: RBC raises target price to C$28 from C$27, saying third-quarter outlook points to solid sequential improvement.

• MEG Energy Corp: JPMorgan raises target price to C$11.5 from C$11, saying the company took important steps on both the debt reduction side and the growth side. 


ECONOMIC EVENTS 
No economic indicators are scheduled for release.


COMPANIES REPORTING RESULTS
July 26:
Celestica Inc: Expected Q2 earnings of 25 cents per share
TFI International Inc: Expected Q2 earnings of 96 cents per share

July 27:
Capstone Mining Corp: Expected Q2 earnings of 13 cents per share
Element Fleet Management Corp: Expected Q2 earnings of 20 Canadian cents per share
First National Financial Corp: Expected Q2 earnings of C$1.12 per share
First Quantum Minerals Ltd: Expected Q2 earnings of 30 cents per share
FirstService Corp: Expected Q2 earnings of $1.03 per share
Intact Financial Corp: Expected Q2 earnings of C$2.41 per share
Secure Energy Services Inc: Expected Q2 loss of 3 Canadian cents per share


CORPORATE EVENTS (All timings in U.S. Eastern Time)
1800 TFI International Inc: Q2 earnings conference call


EX-DIVIDENDS
There are no major exdivs for the day.


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


 


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