BAYSTREET RSS FEED http://www.baystreet.ca/rss/MasterRSS.aspx en-us Copyright (c) 2015 Baystreet.ca Inc. All rights reserved. 5/29/2015 10:03:00 PM <![CDATA[Kirkland Lake Gold "SECTOR PERFORM"]]>Fri, 29 May 2015 11:00:00 ESThttp://baystreet.ca/articles/analyst_ratings.aspx?21965<![CDATA[Gold set for first gain in months]]>Fri, 29 May 2015 12:00:00 ESThttp://baystreet.ca/articles/commodities.aspx?id=586Friday, May 29, 2015


Gold set for first gain in months


Gold futures erased earlier losses Friday to trade higher as revised data showed the U.S. economy shrank less than expected in the first quarter.

Prices were poised to mark their first monthly gain in four months, but still traded lower for the week on the back of strength in the U.S. dollar.

Gold for August delivery rose $2.90, or 0.2%, to trade at $1,191.70 U.S. an ounce on Comex after earlier tapping a low of $1,186. On a most-active contract basis, gold futures are on track to end May with a 0.8% monthly gain, which would be their first since January. Gold’s still down about 1% for the week, according to FactSet data.

July silver advanced 9.1 cents, or 0.6%, to $16.76 U.S. an ounce. Prices were down up about 3.8% for the month and set to lose 1.7% for the week.

The U.S. economy shrank at an 0.7% annual pace in the first quarter, the Commerce Department reported Friday, versus an initial estimate of a 0.2% gain. Economists had forecast a 1% contraction.

U.S. data also released Friday showed that in May, the Chicago Purchasing Managers' Index took a plunge and consumer sentiment fell to a six-month low.

The ICE U.S. dollar index weakened Friday, but only modestly. For the week, the dollar was on track to book a second week of gains against the euro and Japanese yen Commodities priced in dollars often trade inversely with the dollar, as moves in the U.S. unit can influence the attractiveness of those commodities to holders of other currencies.

The GDP data came as investors continue to weigh the timing of a Federal Reserve interest-rate hike. Analysts said the GDP data does little to change expectations.

In other metals trade, July platinum rose $1.90, or 0.2%, to $1,118.20 U.S. an ounce — down around 2% for the month, while September palladium lost 35 cents to $785.25 U.S. an ounce, trading roughly 1% for the month.

July copper fell 1.8 cents, or 0.6%, to $2.75 U.S. a pound, set to lose around 4.7% for the week.

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<![CDATA[Avago to buy Broadcom ]]>Thu, 28 May 2015 12:00:00 ESThttp://baystreet.ca/articles/techinsider.aspx?id=555Thursday, May 28, 2015

Avago to buy Broadcom


Avago Technologies Ltd (NASDAQ: AVGO) agreed to buy fellow chipmaker Broadcom Corp in a cash-and-stock deal valued at $37 billion U.S. to boost its mobile chip and data networking businesses.

Avago (NASDAQ: AVGO) a maker of chips for the wireless and industrial markets, is offering Broadcom (NASDAQ: BRCM) shareholders $17 billion U.S. in cash and Avago shares valued at $20 billion U.S. in one of the biggest deals ever in the chip industry.

The deal represents a premium of about 28%, according to Reuters calculations based on Broadcom's market value of $28.85 billion as of Tuesday's close, the day before the Wall Street Journal reported that the companies were in talks.

Broadcom's shares rose as much as 23% on Wednesday, while Avago rose as much as 10%.

Broadcom shares were down $2.19, or 3.8% at $54.97 U.S. in early trading on Thursday, while Avago was down $1.79, or 1.3% at $139.71 U.S

Broadcom, based in Irvine, California, makes semiconductors for a variety of products, including set-top boxes, cellphones and network equipment.

The company is best known for its connectivity chips, which integrate Wi-Fi and Bluetooth technology and are used widely in top-tier smartphones made by Apple Inc and Samsung Electronics Co Ltd..

Demand for cheaper chips and new products to power Internet-connected gadgets is driving consolidation in the industry.

Until Thursday, Avago's biggest deal was for chipmaker LSI Corp, which it agreed to buy for $6.6 billion U.S. in May last year.

The company struck a deal to buy networking company Emulex Corp for $606 million U.S. in February.

Avago had also bid for Freescale Semiconductor Ltd earlier this year, people familiar with the matter told Reuters in March. NXP Semiconductors NV bought the company for $11.8 billion U.S.

A deal with Broadcom would be a strategic fit for Avago and enable it to provide end-to-end components into the networking and infrastructure markets, Nomura analyst Romit Shah wrote in a research note on Wednesday.

The companies said they expected to close the deal by the end of first quarter of 2016 and save $750 million U.S. in costs within 18 months.

The combined company, to be based in Singapore, would have annual revenue of $15 billion U.S. and an enterprise value of $77 billion U.S, the companies said in a statement.

Broadcom shareholders will own about 32% of the combined company. They would also have the option to choose between various combinations of cash and stock.

Avago, which is incorporated in Singapore and has dual headquarters there and in San Jose, California, said it intended to fund the cash portion of the deal by using funds from the combined companies and a new debt of $9 billion U.S.

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<![CDATA[Economic Calendar]]>Fri, 29 May 2015 10:03:00 ESThttp://baystreet.ca/articles/econ_calendar.aspx?id=18125May 2015
 

DATE

STATISTIC FOR CURRENT MONTH PREVIOUS MONTH
Friday, May 01, 2015 RBC Manufacturing PMI: 9:30am April Adjusted for seasonal influences, the RBC Canadian Manufacturing PMI registered 49.0 in April, up only fractionally from 48.9 in March and below the neutral 50.0 value for the third month running. Canada’s RBC Manufacturing PMI inched up to 48.9 in March from 48.7 in February, indicating a slower rate of contraction. For the first quarter of 2015, the PMI average for the three months was 49.5, the lowest since at least 2010.
Tuesday, May 05, 2015 Canadian International Merchandise Trade: 8:30am Mar Canada's imports increased 2.2% in March while exports edged up 0.4%. As a result, Canada's merchandise trade deficit with the world widened from $2.2 billion in February to a record $3.0 billion in March. Canada's imports declined 0.7% in February while exports were up 0.4%. Import volumes fell 1.7% while prices increased 1.1%. For exports, volumes were down 3.3% while prices rose 3.9%. Consequently, Canada's merchandise trade deficit with the world narrowed from $1.5 billion in January to $984 million in February.
Wednesday, May 06, 2015 IVEY Purchasing Managers Index: 10:00am April The Ivey Purchasing Managers Index (PMI) by the end of April 2015 stood at 58.2. The corresponding Ivey PMI figure for March 2015 was 47.9, for April 2014 was 54.1 and for April 2013 was 52.2. The Ivey Purchasing Managers Index by the end of March 2015 stood at 47.9, compared to 49.7 in February, and 55.2 in March 2014
Thursday, May 07, 2015 Building Permits: 8:30am Mar The total value of building permits rose 11.6% from a month earlier to $6.9 billion in March, the first increase in three months. Canadian municipalities issued building permits worth $6.1 billion in February, edging down 0.9% from the previous month. This was the second consecutive monthly decline.
Friday, May 08, 2015 Housing Starts: 8:15am April Canadian Mortgage and Housing Corp. said the seasonally adjusted annualized rate of housing starts fell to 181,814 in April from a downwardly revised 189,546 units in March. Forecasters had expected 182,000 starts. The trend measure of housing starts in Canada was 179,016 units in March compared to 180,236 in February, according to Canada Mortgage and Housing Corporation
Friday, May 08, 2015 Labour Force Survey: 7:00am April Employment edged down in April (-20,000), as gains in full-time work were more than offset by losses in part time. The unemployment rate held steady at 6.8% for the third consecutive month. Employment increased by 29,000 in March, driven by gains in part-time work. The unemployment rate was unchanged at 6.8%.
Thursday, May 14, 2015 New Housing Price Index: 8:30am Mar The New Housing Price Index was unchanged in March, following a 0.2% increase in February The New Housing Price Index rose 0.2% in February, following a 0.1% decline in January.
Friday, May 15, 2015 CREAstats - MLS Sales: 8:30am April The Canadian Real Estate Association reported national home sales activity rose 2.3% from March to April. Actual (not seasonally-adjusted) activity stood 10% above April 2014 levels. The Canadian Real Estate Association said national home sales edged up 4.1% from February to March. Actual (not seasonally-adjusted) activity stood 9.5% above March 2014 levels.
Friday, May 15, 2015 Canada's International Transactions in Securities: 8:30am Mar Foreign investment in Canadian securities was up significantly in March to $22.5 billion. Foreign acquisitions of Canadian private corporate securities accounted for the bulk of this activity. At the same time, Canadian investors reduced their holdings of foreign securities by $3.2 billion, all debt instruments. Foreign investment in Canadian securities strengthened to $9.3 billion in February, led by foreign purchases of federal government bonds. Meanwhile, Canadian investors resumed their investment in foreign securities by adding $9.4 billion to their holdings, mainly US instruments.
Friday, May 15, 2015 Monthly Survey of Manufacturing: 8:30am Mar Manufacturing sales rose 2.9% to $51.0 billion in March, the second increase in six months. Manufacturing sales declined 1.7% to $50.0 billion in February, the fourth decrease in five months.
Wednesday, May 20, 2015 Wholesale Trade: 8:30am Mar Wholesale sales rose 0.8% to $53.9 billion in March after two consecutive monthly declines. Higher sales were recorded in five of seven subsectors, accounting for 66% of total wholesale sales. Wholesale sales declined for a second consecutive month in February, decreasing 0.4% to $53.6 billion, their lowest level in six months.
Thursday, May 21, 2015 Employment Insurance: 8:30am Mar Statistics Canada said the number of Canadians drawing employment insurance in March, totaled 517,900 people, up 5,900, or 1.1%, from February. Compared with March 2014, the number of EI beneficiaries rose 2,600, the first year-over-year increase since February 2010. The number of people receiving regular Employment Insurance benefits rose by 2.0% (+9,900) to 509,800 in February, following five months of little change. Compared with 12 months earlier, the number of beneficiaries was down slightly (-0.7% or -3,500).
Friday, May 22, 2015 Retail Trade: 8:30am Mar Retail sales rose for the second consecutive month in March, advancing 0.7% to $42.5 billion. Following two consecutive monthly declines, retail sales rose 1.7% in February to $42.2 billion.
Friday, May 22, 2015 Consumer Price Index: 7:00am April The Consumer Price Index rose 0.8% in the 12 months to April, after increasing 1.2% in March. On a seasonally-adjusted monthly basis, the Consumer Price Index decreased 0.1% in April, following a 0.3% rise in March. The Consumer Price Index rose 1.2% in the 12 months to March, after increasing 1.0% in February. On a seasonally adjusted monthly basis, the Consumer Price Index increased 0.4% in March, following a 0.2% rise in February.
Wednesday, May 27, 2015 BoC rate announcement: 10am --- The Bank of Canada today announced that it is maintaining its target for the overnight rate at 0.75%. The Bank Rate is correspondingly 1% and the deposit rate is 0.5% The Bank of Canada maintained its target for the overnight rate at 0.75%. The Bank Rate is correspondingly 1% and the deposit rate is 0.5%
Thursday, May 28, 2015 Industrial Product Price Index: 8:30am April The Industrial Product Price Index declined 0.9% in April, mainly because of lower prices for energy and petroleum products. The Industrial Product Price Index increased 0.3% in March, largely as a result of higher prices for energy and petroleum products.
Thursday, May 28, 2015 Raw Materials Price Index: 8:30am April The Raw Materials Price Index increased 3.8% in April, largely as a result of higher prices for crude energy products. The Raw Materials Price Index declined 0.9%, mainly because of lower prices for crude energy products.
Friday, May 29, 2015 GDP: 8:30am Mar Real gross domestic product (GDP) decreased 0.1% in the first quarter, following growth of 0.6% in the fourth quarter of 2014. This was the first negative growth rate of real GDP since the second quarter of 2011. On a monthly basis, real GDP by industry fell 0.2% in March. Real gross domestic product was unchanged in February following a 0.2% decline in January.
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<![CDATA[Economy shrinks in Q1]]>Fri, 29 May 2015 12:00:00 ESThttp://baystreet.ca/articles/economiccommentary.aspx?id=1378Economy shrinks in Q1


Canada's economy shrank by 0.1% in the first three months of 2015, as the economic impact of oil's gloom spread to other sectors, according to figures released Friday morning by Statistics Canada.

It's the first time the economy has contracted on a quarterly basis since 2011.

The agency said Friday that many sectors, including mining, quarrying, and oil and gas extraction, construction, wholesale trade and manufacturing were in negative territory for the three months between January and March.

There was growth in finance and insurance, utilities, as well as the agriculture and forestry sectors, but not enough to offset weakness everywhere else.

Expressed as an annualized rate, GDP contracted 0.6% in the first quarter.

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<![CDATA[Mainland China recovers from big drop]]>Fri, 29 May 2015 12:00:00 ESThttp://baystreet.ca/articles/foreignmarketwrap.aspx?id=2130Friday, May 29, 2015

Mainland China recovers from big drop



A sudden plunge in Chinese stocks Thursday led to selloffs in some of the best performing mainland shares of the past year, capping a month in which Shanghai’s predominantly blue-chip market trailed Shenzhen.

In Tokyo, the Nikkei 225 index gained 11.69 points, or 0.1%, to 20,563.15, rising for a 11th day in a row,

The U.S. dollar was drifting lower against the yen in Asia trade Friday, with some investors locking in profits ahead of the weekend following this week’s high-profile rally.

The dollar was at ¥123.77, compared with ¥123.95 late Thursday in New York.

The greenback ratcheted down from its earlier levels, finding support around ¥123.60 midday.

But the level was still much higher than the ¥121.50 mark it was hovering around at the start of the week. At one point in the rally, the American dollar touched ¥124.46, its highest since Dec. 5, 2002.

In Hong Kong, the Hang Seng Index fell 30.12, or 0.1%, to 27,424.19,

CHINA

The Shanghai CSI 300 recovered 6.82 points, or 0.1 %, to 4,840.83, after Thursday’s loss of more than 300 points.

The Shanghai benchmark briefly fell into correction territory earlier Friday—off more than 10% from its recent high at Wednesday’s close—before paring losses.

On Friday, I.T., health care and consumer stocks helped prop up Shanghai. Among the largest contributors were Shanghai Fosun Pharmaceutical Group, up 10% and at the daily limit, and baijiu maker Kweichow Moutai, up 1%.

Selling continued in energy, financials and industrial stocks. PetroChina Co. Ltd., China Petroleum and Chemical Corp. and China Railway Group were all down, at 2.3%, 1.8% and 3.9%, respectively. Still, the three stocks have been among firms helping the benchmark rally the most the past year.

The gains there illustrate a continued preference from locals for small to mid-cap firms, a trend that began around the turn of the year.

That has helped the Shenzhen market balloon to $4.3 trillion U.S., a size comparable to that of the Hong Kong stock exchange.

Flows to Chinese stock funds totaled $4.58 billion U.S. in the week ending May 27, a sharp acceleration from $1.4 billion U.S. the previous week, according to ANZ data.

Trading among locals is already at its highest ever. Turnover in the mainland market fell to 1.85 trillion yuan Friday, but topped two trillion yuan in each of the past three sessions.

In other markets

In Korea, the Kospi index gained 3.91 points, or 0.2%, to 2,114.80

In Taiwan, the Taiex subtracted 11.77 points, or 0.1%, to 9,701.07

In Singapore, the Straits Times index dipped 25.66 points, or 0.8%, to 3,392.11

In New Zealand, the NZX 50 shot higher 67.31 points, or 1.2%, to 5,844.95

In Australia, the S&P/ASX 200 moved higher 64.07 points, or 1.1%, to 5,777.16


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<![CDATA[U.S. economy reverses in Q1]]>Fri, 29 May 2015 12:00:00 ESThttp://baystreet.ca/articles/globalmarkets.aspx?id=1384The U.S. economy went into reverse in the first three months of this year as a severe winter and a widening trade deficit took a harsher toll than initially estimated.

The overall economy as measured by the gross domestic product contracted at an annual rate of 0.7% in the January-March period, the Commerce Department reported Friday.

The revised figure, even weaker than the government's initial estimate of a 0.2% growth rate, reflects a bigger trade gap and slower consumer spending. It marked the first decline since a 2.1% contraction in the first three months of 2014, a slump that was also blamed on winter weather.

Economists expect a rebound in the current quarter to growth of around 2% and expect the economy to strengthen later this year.

Much of the new-found weakness came from a widening trade deficit, reflecting weaker exports and a bigger jump in imports than first estimated. Trade subtracted 1.9 percentage points from growth, up from the 1.25-percentage-point drag initially estimated. American manufacturers are struggling with a stronger dollar, which hurts exports by making their goods more expensive on overseas markets and makes foreign goods cheaper for American consumers.

Consumer spending, which accounts for about 70% of economic activity, slowed to growth of just 1.8% in the first quarter, slightly below the 1.9% growth initially estimated. The government said consumers spent less on their cell phone services than first thought.

One of the biggest hits to the economy in the first quarter came from huge cutbacks in drilling activity by energy companies, a fallout from the big drop in oil prices over the past year. The government said that investment in the category that covers energy exploration plunged at a rate of 48.6%, the biggest drop since spring of 2009, when the country was still in recession.

Though falling GDP can be a sign of a recession, economists see little cause for concern with the first quarter drop. They are forecasting solid GDP growth the rest of the year, with steady job gains propelling the economy. A harsh winter is gone. So is a labour dispute that slowed trade at West Coast ports. Home sales and construction are rebounding. Business investment is picking up.

Many economists also suspect that the government's calculations have tended to underestimate growth in the first quarter of each year. The GDP has contracted in three quarters since the recession ended six years ago and all three declines came in the first quarter of the year.

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<![CDATA[IPO Center - TSX-V]]>Mon, 13 Jan 2014 12:00:00 ESThttp://baystreet.ca/articles/ipo_tsx.aspx?id=10023 Company Name Ticker Date RepliCel Life Sciences Inc. RP 13-01-2014 Cleantech Capital Inc. YES.P 14-01-2014 Jet Metal Corp. JET 20-01-2014 Reliance Resources Limited RI 22-01-2014 West African Resources Limited WAF 24-01-2014 Westcap Investments Corp. WI 12-02-2014 Sonde Resources Corp. SOQ 19-02-2014 QMX Gold Corporation QMX 20-02-2014 Knight Therapeutics Inc. GUD 28-02-2014 PC Gold Inc. PKL 11-03-2014 Silver Predator Corp. SPD 13-03-2014 Baja Mining Corp. BAJ 17-03-2014 IOU Financial Inc. IOU 17-03-2014 Rockefeller Hughes Corporation RHC 20-03-2014 Chrysalis Capital IX Corporation NYN 28-03-2014 Northern Sun Mining Corp. NSC 16-04-2014 Cliffside Capital Ltd. CEP 17-04-2014 Till Capital Ltd. TIL 24-04-2014 Redzone Resources Ltd. REZ 28-04-2014 Alabama Graphite Corp. ALP 05-05-2014 Jaguar Financial Corporation JFC 21-05-2014 Lingxian Capital Inc. LXC.P 23-05-2014 Tribute Pharmaceuticals Canada Inc. TRX 27-05-2014 Dataminers Capital Corp. DMC.P 29-05-2014 Transeastern Power Trust TEP.DB 02-06-2014 X-Terra Resources Inc. XTT 03-07-2014 Starlight U.S. Multi-Family (No.3) Core Fund SUS.UN 09-07-2014 Searchtech Ventures Inc. MJN.P 16-07-2014 Whiteknight Acquisitions III Inc. WKA 21-07-2014 Petro-Victory Energy Corp. VRY 24-07-2014 Geovic Mining Corp. GMC 28-07-2014 01 Communique Laboratory Inc. ONE 31-07-2014 Leucrotta Exploration Inc. LXE 19-08-2014 Cluny Capital Corp CLN 20-08-2014 Maestro Capital Corporation MCP 21-08-2014 Manera Capital Corp. MEA 28-08-2014 Mediterranean Resources Ltd. MNR 02-09-2014 Eastwood Bio-Medical Canada Inc. EBM 05-09-2014 Orletto Capital Inc. OLE 09-09-2014 Rodeo Capital III Corp. ROP 17-09-2014 Mira IV Acquisition Corp. MRY 24-09-2014 Xander Resources Inc. XND 25-09-2014 Maple Peak Investments Inc. MAP.P 01-10-2014 Campar Capital Corporation CHK 24-10-2014 Niocan Inc. NIO 28-10-2014 Groupe Bikini Village inc. GBV 13-11-2014 Aumento Capital V Corporation AMN 13-11-2014 BFK Capital Corp. BFK 17-11-2014 Marching Moose Capital Corp. MMC 19-11-2014 Chieftain Metals Corp. CFB 21-11-2014 Anchor Capital Corporation ANC 02-12-2014 Portofino Resources Inc. POR 05-12-2014 Mira VI Acquisition Corp. MVI 18-12-2014 NYX Gaming Group Ltd. NYX 30-12-2014 CohBar Inc. COB 06-01-2015 Riley Resources Corp. RLY.P 08-01-2015 POCML 3 Inc. PWR 15-01-2015 Essa Pharma Inc. EPI 27-01-2015 Carlaw Capital V Corp. CVC 05-02-2015 Lupaka Gold Corp. LPK 18-02-2015 Arch Biopartners Inc. ACH 23-02-2015 LL Capital Corp. LLA.P 04-03-2015 San Angelo Oil Limited SAO 10-03-2015 Aequus Pharmaceuticals Inc. AQS 17-03-2015 Dominion General Investment Corporation DIC.P 27-03-2015 EQ Inc. EQ 31-03-2015 Zincore Metals Inc. ZNC 31-03-2015 Starlight U.S. Multi-Family (No.4) Core Fund SUF 14-04-2015 Tidewater Midstream and Infrastructure Ltd. TWM 15-04-2015 Titanium Transportation Group Inc. TTR 16-04-2015 Mira VII Acquisition Corp. MVA 23-04-2015 Vier Capital Corp. VIE 30-04-2015 BitGold Inc. XAU 13-05-2015 Novo Resources Corp. NVO 27-05-2015]]><![CDATA[TSX limps to finish ]]>Fri, 29 May 2015 12:00:00 ESThttp://baystreet.ca/articles/marketupdates.aspx?id=4278Friday, May 29, 2015

04:33 PM EST
TSX limps to finish

Metals suffer, energy rumbles




The TSX finished in the red Friday, despite something of a recovery in energy stocks amid rising oil prices .

The S&P/TSX composite index surrendered 92.91 points to finish the day, week and month at 15,014.09, though off its lows of the day.

The Canadian dollar slid 0.03 cents to 80.40 cents U.S.

Metals dropped much of their strength as copper prices slide 1.3%. Taseko Mines seemed the worst off, tumbling six cents, or 7%, to close at 80 cents, while Capstone Mining capsized six cents or 4.7%, to $1.22.

Financials, home to the six biggest Canadian lenders, reduced its midday loss with Bank of Nova Scotia adding 83 cents, or 1.3% to $65.40.

Real-estate shares took some heat, though, as Allied Properties REIT units dipped 90 cents, or 2.4%, to $36.28.

Info tech eased as Sandvine Corporation gave back 16 cents, or 3.6%, to $4.29, and BlackBerry shares fell 26 cents, or 2.1%, to $12.21.

Energy proved one of the few bright spots, as PrairieSky Royalty gained $1.35, or 4.2%, to $33.65, as oil prices roared ahead.

The champ in the volume derby again proved to be Carpathian Gold, whose shares were unchanged at 2.5 cents, but in which 10.8 million shares changed hands.

On the economic blotter, Statistics Canada reported real gross domestic product decreased 0.1% in the first quarter, following growth of 0.6% in the fourth quarter of 2014.

This was the first negative growth rate of real GDP since the second quarter of 2011. On a monthly basis, real GDP by industry fell 0.2% in March.

ON BAYSTREET

The TSX Venture Exchange eked up 0.29 points to 692.45

All 14 TSX subgroups were in the red midday, with metals and mining off 1.7%, consumer staples and global base metals each down 1.2%

ON WALLSTREET

U.S. stocks closed lower on Friday, the last day of trade for the month, as investors digested economic data and remained cautious on continued concerns about Greece.

The Dow Jones Industrials fell 115.44 points, to end at 18.010.68, with General Electric leading laggards and Merck the greatest advancer.

The S&P 500 index slumped 13.40 points to 2,107.39, with industrials leading all 10 sectors lower.

The NASDAQ retreated 27.95 points to 5,070.03

The blue-chip index posted a 1% gain for May. The S&P 500 ended up 1.1% for the month, and the NASDAQ outperformed with a 2.6% monthly gain.

Meanwhile, in stock news, the New York Post reported that Intel is close to a deal to buy smaller chipmaker Altera for around $15 billion U.S.

Shares of health insurer Humana surged 20% on Friday amid reports the company had received takeover interest from potential buyers.

Big Lots reported quarterly profit of 60 cents U.S. per share, one cent above estimates, with revenue in line with forecasts. However, the discount retailer's current quarter earnings forecast is below estimates, with comparable store sales expected to grow by 2% to 3%.

GameStop earned 68 cents U.S. per share for its latest quarter, seven cents above estimates. Revenue was slightly ahead of forecasts, and the video game retailer also gave an upbeat forecast for the current quarter and full year. The company's results were helped by strong sales of new game software.

Equinix is buying Britain's Telecity Group for $3.6 billion U.S., creating Europe's largest data centre company. The acquisition by U.S.-based Equinix also ends Telecity's bid to buy Dutch data center firm Interxion

The second read on first-quarter U.S. GDP showed a decline of 0.7% as the economy struggled under heavy snow storms and the renewed strength in the dollar.

The U.S. government had forecast a drop of 0.8%. Economists expected a 1% decline in first-quarter GDP, after an original print showed a 0.2% gain. That was down from 2.2% growth in the fourth quarter.

Chicago PMI unexpectedly fell to 46.2 in May versus a read of 52.3 in April.

Consumer sentiment showed a final read of 90.7 for May, the lowest since November and below April's 95.9 print.

The Greek government has said it hopes to reach a reform-for-rescue deal with its international bailout supervisors by Sunday, according to Reuters.

However, European officials have denied a deal is near and Christine Lagarde, the head of the International Monetary Fund, was quoted in a German newspaper as saying that Greece talks could fail, forcing the country to default on its debts. The paper toned down the quote on Friday after the release of the official transcript from the IMF, Reuters said.

Prices for 10-year U.S. Treasuries gained, lowering yields to 2.12% from Thursday’s 2.13%. Treasury prices and yields move in opposite directions.

Oil prices gushed $2.51 a barrel to $60.19 U.S.

Gold prices took on $1.60 at $1,190.40 U.S. an ounce.





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<![CDATA[Stocks in Play: Scotiabank]]>Fri, 29 May 2015 09:46:00 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=18100Friday, May 29, 2015

09:45 AM EST - Scotiabank : today reported second quarter net income of $1,797 million, in line with the same period last year. Diluted earnings per share were $1.42 compared to $1.39 in the same period a year ago. Return on equity was 15.1% compared to 16.3% last year. Scotiabank (T.BNS) shares were up $0.43 at 65.

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<![CDATA[Stocks in Play: Continental Gold Limited]]>Fri, 29 May 2015 09:46:00 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=18101Friday, May 29, 2015

09:47 AM EST - Continental Gold Limited : announced that as a result of comments received from an independent proxy advisory agency, it has made amendments to its stock option plan and deferred share unit plan in order to continue to align the Company with leading governance practices. Continental Gold Limited (T.CNL) shares were down $0.01 at 2.7.

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<![CDATA[Stocks in Play: True Gold Mining Inc.]]>Fri, 29 May 2015 09:46:00 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=18102Friday, May 29, 2015

09:48 AM EST - True Gold Mining Inc. : announced a strengthened development and operations team with extensive mine building, operational and West African stakeholder relations expertise. The team, composed of both existing and new senior personnel, will be responsible for completing construction of the Karma gold mine, as well as subsequent operations and ongoing community and government relations in Burkina Faso. Karma is on track to pour gold by the end of the first quarter of 2016. True Gold Mining Inc. (V.TGM) shares were down $0.01 at 0.25.

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<![CDATA[Stocks in Play: Resolute Forest Products Inc.]]>Fri, 29 May 2015 09:46:00 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=18103Friday, May 29, 2015

09:49 AM EST - Resolute Forest Products Inc. : today announced that its board of directors has authorized a $50-million increase to the company's existing share repurchase program. The company is authorized to repurchase additional shares of its outstanding common stock for an aggregate purchase price of up to $83 million under the program, as amended. The program will be funded with cash on hand. Resolute Forest Products Inc. (T.RFP) shares were up $0.39 at 15.02.

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<![CDATA[Stocks in Play: Royal Bank of Canada ]]>Fri, 29 May 2015 09:46:00 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=18104Friday, May 29, 2015

11:39 AM EST - Royal Bank of Canada : reported record net income of $2,502 million for the second quarter ended April 30, 2015, up $301 million or 14% from the prior year. Diluted earnings per share were $1.68 (up $0.21 from $1.47). Royal Bank of Canada (T.RY) shares were down $1.005 at 79.05.

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<![CDATA[Stocks in Play: Covalon Technologies Ltd.]]>Fri, 29 May 2015 09:46:00 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=18105Friday, May 29, 2015

11:40 AM EST - Covalon Technologies Ltd. : announced its financial results for its second quarter ended March 31, 2015, which includes revenue for three months of $2,180,276 and net income for the quarter of $264,340. Covalon Technologies Ltd. (V.COV) shares were up $0.21 at 1.11.

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<![CDATA[Stocks in Play: New Zealand Energy Corp.]]>Fri, 29 May 2015 09:46:00 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=18106Friday, May 29, 2015

11:41 AM EST - New Zealand Energy Corp. : released the results of its first quarter ended March 31, 2015. The net loss for the three-month period ended March 31, 2015 was $1,179,930 compared with a loss for the first quarter of 2014 of $2,022,722. The Company realized a loss per share for the three-month period ended March 31, 2015 of $0.01. The Company has recorded revenues in the Financial Statements for the period (on a like for like basis) of $1,196,477 (on production of 12,595 barrels) compared with $2,241,372 (on production of 19,682 barrels, excluding sales of purchased oil and condensate) for the corresponding three-month period ended March 31, 2014. New Zealand Energy Corp. (V.NZ) shares were unchanged at 0.03.

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<![CDATA[Stocks in Play: GWR Global Water Resources Corp.]]>Fri, 29 May 2015 09:46:00 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=18107Friday, May 29, 2015

03:18 PM EST - GWR Global Water Resources Corp. : declared, under its approved dividend policy, a monthly cash dividend on the common shares of the Company in the amount of $0.026 per Share (an annualized amount of $0.312 per Share), which will be payable on June 30, to holders of record at the close of business on June 16. GWR Global Water Resources Corp. (T.GWR) shares were unchanged at 7.

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<![CDATA[Stocks in Play: CERF Incorporated]]>Fri, 29 May 2015 09:46:00 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=18108Friday, May 29, 2015

03:20 PM EST - CERF Incorporated : announced its financial results for the three months ended March 31, 2015. Revenue increased by 42% for the quarter to $17.7 million when compared to the $12.4 million generated in the prior-year's quarter. Net income for the quarter decreased slightly to $1.2 million compared to $1.5 million for the first quarter of 2014. CERF Incorporated (V.CFL) shares were down $0.14 at 2.15.

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<![CDATA[GreenPower Motor Company Gets Energized on Apparent Successful Bidder Designation]]>Thu, 28 May 2015 04:36:00 ESThttp://baystreet.ca/articles/stockstowatch.aspx?id=966Thursday, May 28, 2015

GreenPower Motor Company Gets Energized on Apparent Successful Bidder Designation




Electric cars get the headlines, thanks in part to the high profile nature of Elon Musk and his Tesla (NASDAQ:TSLA) vehicles. It may not be as sexy to some, but there are companies out there super-sizing electric vehicles in a bid to give diesel the boot and clean up the roadways in the fashion of electric buses. Although still a pretty quiet industry, several bus makers are making some noise in 2015 as the electric bus business gains traction.

This includes school bus maker Blue Bird (NASDAQ:BLBD) becoming a public company in February, only a few months after California approved the use of its entirely electric school bus. Earlier in 2014, the Kings Canyon Unified School District in California’s San Joaquin Valley ordered four electric school buses from privately-held Trans Tech Bus with powertrains made by Motiv Power Systems.

Vancouver’s GreenPower Motor Company (TSX-Venture:GPV)(OTCQB:GPVRF) is looking to take a piece of the multi-billion-dollar transit bus market, launching last year its EV350 40-foot transit bus. GreenPower Motor was brought public in December via a reverse takeover of Oakmont Minerals Corp. (formerly TSX-Venture:OMK).

The company’s electric-powered transport bus uses an electric drive and battery technologies with a lightweight chassis and low floor body. GreenPower buses utilize global suppliers, like Siemens (NYSE:SI) for drive motors and Parker (NYSE:PH) for the dash and control systems, amongst others, keeping its buses compliant and easily serviced and maintained. Some redesigns are happening in the 2015 model, including relocating a side battery pack to the back of the bus, expanding the seat count up to 40, and increasing the power storage capabilities for more range and faster charging time. The buses are being manufactured in China and expected to be shipped to the U.S. for final assembly by the end of this quarter.

On Thursday, GreenPower Motor said that it received notice from the State of Washington Department of Enterprise Services that the company has been designated an "apparent successful bidder" under IFP No. 09214 for heavy-duty public transit vehicles for two categories: E – Heavy Duty Bus, Plug in Electric (35 ft., 40 ft. and 45 ft.) and G – Heavy Duty Bus – High Floor Electric (45 ft.). Now, this doesn’t mean any order has been placed, implied or the like; it just means that GreenPower’s bid is responsive with the points awarded under IFP No. 09214.

Other companies in the process also received the designation.

GreenPower did note that it was the only manufacturer listed for the Category E Heavy Duty Bus – Plug in Electric for a 45-foot bus. Further, GreenPower said only one other manufacturer was designated an apparent successful bidder in more categories than it was.

Calling the development a "testament to the GreenPower team and their skillset," GreenPower Chairman Fraser Atkinson commented, "This is another significant milestone for GreenPower as our products had to satisfy an extensive set of criteria and technical requirements. The clean sheet design and OEM platform provides GreenPower with tremendous flexibility in producing a suite of products."

Shares of GPV jumped ahead to a high of 42 cents in December with the amalgamation, but stumbled lower in the beginning part of 2015, including hitting 15 cents each in April. The stock price has been edging up since then, including shooting ahead 30.2% in Thursday afternoon trading to 28 cents.

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<![CDATA[GDP figures shake up loonie]]>Fri, 29 May 2015 10:26:00 ESThttp://baystreet.ca/articles/forex_trader.aspx?id=21972
Experts expect a range today of $1.2475 to $1.2535 Canadian for the U.S. dollar.

The euro is up 100 basis points from yesterday’s close at $1.3716 Canadian. Group of Seven meetings continue today where still much of the talk is on Greece and the uncertainty that would follow if the country was to leave the euro-zone. The unenviable position for Greece is that it needs to make some very tough decision in the coming days/months.

Observers expect a range today of $1.3691 to $1.3769 Canadian

The Great British Pound is up 50 bps, from yesterday’s close at $1.9058 Canadian. No major event risk today, however, we have been seeing a shift by the Bank of England to a more hawkish tone for now.

The Australian dollar is up 40 bps from yesterday’s close at $0.955 Canadian. Rate cut seems to be out of the picture now for June, as we await for the official announcement from Reserve Bank of Australia on Wednesday. The New Zealand dollar is down 20 bps, from yesterday’s close, at $0.8896 Canadian. The Kiwi dropped to a fresh weekly low and bottomed out at 0.8845 Canadian.

Data Releases

CAD: GDP

AUD: No data

EUR: German Retail Sales + Italian GDP

GBP: No data

JPY: No data

NZD: No data

USD: GDP + University of Michigan Confidence]]>
<![CDATA[Top Analysts Actions: AVGO, MX, CPRT, CHA, TI ]]>Fri, 29 May 2015 12:28:35 ESThttp://www.baystreet.ca/articles.aspx?id=30402<![CDATA[Splunk (SPLK) stumbles on Q1 loss]]>Fri, 29 May 2015 11:22:38 ESThttp://www.baystreet.ca/articles.aspx?id=30401<![CDATA[Himax Technologies (HIMX) down on downgrade]]>Fri, 29 May 2015 11:20:00 ESThttp://www.baystreet.ca/articles.aspx?id=30400<![CDATA[Cyberark Software (CYBR) down on secondary offering]]>Fri, 29 May 2015 11:19:36 ESThttp://www.baystreet.ca/articles.aspx?id=30399<![CDATA[Eleven Biotherapeutics (EBIO) down after Thursday fall]]>Fri, 29 May 2015 11:01:00 ESThttp://www.baystreet.ca/articles.aspx?id=30398<![CDATA[Pfizer (PFE) gains on rumors of buying Cellectics ]]>Fri, 29 May 2015 10:56:10 ESThttp://www.baystreet.ca/articles.aspx?id=30397<![CDATA[Cellectis SA (CLLS) falls amid Pfizer talks]]>Fri, 29 May 2015 10:54:11 ESThttp://www.baystreet.ca/articles.aspx?id=30396<![CDATA[Infoblox (BLOX) down despite Q3 numbers]]>Fri, 29 May 2015 10:52:26 ESThttp://www.baystreet.ca/articles.aspx?id=30395<![CDATA[Intel Corporation (INTC) gains amid talks to buy Altera]]>Fri, 29 May 2015 10:50:55 ESThttp://www.baystreet.ca/articles.aspx?id=30394<![CDATA[Altera Corporation (ALTR) gains as Intel talks heat up ]]>Fri, 29 May 2015 10:48:00 ESThttp://www.baystreet.ca/articles.aspx?id=30393