BAYSTREET RSS FEED http://www.baystreet.ca/rss/MasterRSS.aspx en-us Copyright (c) 2014 Baystreet.ca Inc. All rights reserved. 9/19/2014 3:45:04 AM <![CDATA[Liquor Stores "BUY"]]>Thu, 18 Sep 2014 07:25:58 ESThttp://baystreet.ca/articles/analyst_ratings.aspx?19373<![CDATA[Oil down after supply increase]]>Wed, 17 Sep 2014 12:00:00 ESThttp://baystreet.ca/articles/commodities.aspx?id=524Wednesday, September 17, 2014


Oil down after supply increase


U.S. oil inventories rose 3.7 million barrels in the week ended Sept. 12, according to data released by the Energy Information Administration Wednesday. That contrasted with expectations of a decline by 400,000 barrels, according to analysts polled by Platts.

The agency added that gasoline supplies were down 1.6 million barrels, while distillates supplies rose 300,000 barrels. Gasoline stocks were seen down 300,000 barrels, and distillate stocks were expected to end the week unchanged.

Oil for October delivery was recently trading at $93.95 U.S. a barrel on the New York Mercantile Exchange, from around $94.24 U.S. a barrel as the report was released.

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<![CDATA[Telus info requests in hundreds of thousands]]>Thu, 18 Sep 2014 12:00:00 ESThttp://baystreet.ca/articles/techinsider.aspx?id=487Thursday, September 18, 2014

Telus info requests in hundreds of thousands


Telus Corp.'s (TSX:T) first "transparency" report reveals that the Vancouver-based telecom company received about 103,500 official requests for information about its customers last year.

A majority of the requests — nearly 56,800 — were in emergency situations, such as to verify the location of 911 callers and another 40,900 requests were for names and addresses that are publicly available through directories.

Telus also received about 4,300 court-ordered requests in 2013, mostly as part of domestic police investigations but also two foreign requests made under Canada's treaty obligations.

It also received 154 other requests as part of police investigations into suspected Internet child exploitation, without court orders — but the company says it no longer will provide such information in most cases without a court order.

Telus executive vice-president Eros Spadotto says the company is trying to strike a balance between fulfilling its responsibilities under the law and concern for its customers privacy.

Toronto-based Rogers Communications (TSX:RCI.B) issued a similar report in June, the first major Canadian carrier to do so after Chantal Bernier — then the interim federal privacy commissioner — said in April that her office had repeatedly asked telecom companies to disclose statistics and the scope of warrantless disclosure of data.

The privacy office asked 12 telecom companies in 2011 for information about their customer-information disclosure but, instead of receiving individual reports, received aggregate data from nine of the 12 through an industry association.

The privacy office estimated that federal government had asked Canadian telecom companies for private customer information about 1.2 million times each year.

Telus shares began Thursday's trading up three cents to $38.98, within a 52-week range of $33.56 to $42.40.

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<![CDATA[Economic Calendar]]>Fri, 19 Sep 2014 03:45:04 ESThttp://baystreet.ca/articles/econ_calendar.aspx?id=18125September 2014
 

DATE

STATISTIC FOR CURRENT MONTH PREVIOUS MONTH
Wednesday, September 03, 2014 BoC Rate Announcement: 9:00am -- The Bank of Canada maintains its target for the overnight rate at 1%. ---
Thursday, September 04, 2014 Canadian international merchandise trade: 8:30am July Canada's merchandise exports increased 1.4% in July, while imports edged down 0.3%. As a result, Canada's trade surplus with the world widened from $1.8 billion in June to $2.6 billion in July. Canada's merchandise exports rose 1.1% in June, while imports declined 1.8%. As a result, Canada's trade surplus with the world widened from $576 million in May to $1.9 billion in June.
Friday, September 05, 2014 IVEY purchasing managers index: 10:00am Aug Western University’s IVEY Purchasing Managers’ Index stood at 50.9 by the end of August, down from July’s reading of 54.1, and the 51 reading in August of last year. Western University's Ivey Purchasing Managers Index (PMI) by the end of July 2014 stood at 54.1, compared to 46.9 in June, and 48.4 in July 2013.
Friday, September 05, 2014 Labour Force Survey: 7:00am Aug Employment was little changed in August and the unemployment rate remained at 7.0%. Compared with 12 months earlier, employment increased by 81,000 (+0.5%), mostly in part-time work. Over the same period, the total number of hours worked was virtually unchanged. Employment rose by 42,000 in July, the result of an increase in part-time work (+60,000). The unemployment rate declined 0.1 percentage points to 7.0%.
Monday, September 08, 2014 Building Permits: 8:30am July Canadian municipalities issued building permits worth $9.2 billion dollars in July, up 11.8% from June and the fourth consecutive monthly advance. Contractors took out building permits worth $8.0 billion in June, up 13.5% from May.
Tuesday, September 09, 2014 Housing Starts: 8:15am Aug Canada Mortgage and Housing Corp showed the seasonally adjusted annualized rate of housing starts slipped to 192,368 last month from a downwardly revised 199,813 units in July. Canada Mortgage and Housing Corp. says housing starts increased to a seasonally adjusted annual pace of 189,784 in July, compared with 185,952 in June.
Thursday, September 11, 2014 New Housing Price Index: 8:30am July The New Housing Price Index (NHPI) was unchanged in July, following a 0.2% increase in June. The New Housing Price Index rose 0.2% in June, up slightly from the 0.1% gain observed in May.
Monday, September 15, 2014 CREAstats - MLS sales: 8:30am Aug The average price of a Canadian home increased by more than 5% in the past year, according to the Canadian Real Estate Association, which adds the average home sold went for $398,618 in August. The Canadian Real Estate Association reported Friday morning that the number of home sales processed through the MLS® Systems of Canadian real estate Boards and Associations rose 0.8% on a month-over-month basis in July, marking the sixth consecutive monthly increase and the highest level for sales since March 2010.
Tuesday, September 16, 2014 Monthly Survey of Manufacturing: 8:30am July Canadian manufacturing sales increased 2.5% to $53.7 billion in July, largely as a result of higher sales in the transportation equipment and primary metal industries. Manufacturing sales rose 0.6% in June to $52.0 billion, the fifth gain in six months.
Thursday, September 18, 2014 Employment Insurance: 8:30am July The number of people receiving regular Employment Insurance benefits in July totalled 499,300, little changed from the previous month. Compared with 12 months earlier, the number of beneficiaries decreased 2.9% or 14,900. Following a decline in May, the number of people receiving regular Employment Insurance benefits was little changed in June at 501,900.
Thursday, September 18, 2014 Canada's International Transactions in securities: 8:30am July Canadian investors added $9.7 billion of foreign securities to their portfolios in July, the largest such investment since April 2007. Meanwhile, foreign investors acquired $5.3 billion of Canadian securities, mainly instruments from the corporate sector. Foreign investors reduced their holdings of Canadian securities by $1.1 billion in June, following investment totaling $31.6 billion over the previous two months. Meanwhile, Canadian investors continued their moderate investment in foreign securities by adding $2.0 billion to their portfolios in June.
Friday, September 19, 2014 Wholesale trade: 8:30am July --- Wholesale sales rose 0.6% to $53.0 billion in June, a third consecutive increase.
Friday, September 19, 2014 Consumer Price Index: 7:00am Aug --- Consumer prices rose 2.1% in the 12 months to July, following a 2.4% increase in June. On a seasonally-adjusted monthly basis, the Consumer Price Index decreased 0.1% in July, after rising 0.3% in June.
Tuesday, September 23, 2014 Retail Trade: 8:30am July --- Retail sales rose for the sixth consecutive month, up 1.1% to $42.6 billion in June.
Tuesday, September 30, 2014 Industrial Product Price Index: 8:30am Aug --- The Industrial Product Price Index declined 0.3% in July, mainly because of lower prices for energy and petroleum products.
Tuesday, September 30, 2014 Raw Materials Price Index: 8:30am Aug --- The Raw Materials Price Index declined 1.4%, largely as a result of lower prices for crude energy products.
Tuesday, September 30, 2014 GDP: 8:30am July --- Real gross domestic product (GDP) rose 0.8% in the second quarter, following a 0.2% increase in the first quarter. This was the largest quarterly gain since the third quarter of 2011. On a monthly basis, real GDP by industry increased 0.3% in June.
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<![CDATA[EI numbers unchanged in July ]]>Thu, 18 Sep 2014 12:00:00 ESThttp://baystreet.ca/articles/economiccommentary.aspx?id=1214EI numbers unchanged in July


Statistics Canada says the number of people receiving regular employment insurance benefits in July was relatively unchanged at 499,300, or down slightly from 503,100 in June.

There were decreases in nine provinces — notably British Columbia, Newfoundland and Labrador, Quebec and Saskatchewan — which the agency says were offset by an increase in Ontario.

Statistics Canada says the number of beneficiaries among men between the ages of 15 and 54 fell for the third month in a row, while the were more beneficiaries among women aged 15 to 24 and 55 and over.

The government agency says the change in the number of regular EI beneficiaries reflects various situations, including people becoming beneficiaries, people going back to work and people no longer receiving regular benefits.

Statistics Canada says compared with July 2013, the number of beneficiaries decreased 2.9%, or 14,900.

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<![CDATA[Japan at 8-mo. high]]>Thu, 18 Sep 2014 12:00:00 ESThttp://baystreet.ca/articles/foreignmarketwrap.aspx?id=1958Thursday, September 18, 2014

Japan at 8-mo. high


Following a positive lead from U.S. markets overnight, Japanese stocks rose to an eight-month closing high on Thursday, as the yen hit a six-year low against the greenback, aiding export-related stocks.

The Nikkei 225 in Tokyo gained 178.90 points, or 1.1%, to 16,067.57, the yen traded at ¥108.57 to the U.S. dollar, compared with ¥108.37 in late U.S. trading overnight. The Japanese currency touched ¥108.87 per dollar, its lowest level in six years, earlier in the day.

In Hong Kong, the Hang Seng Index moved backward 207.69 points, or 0.9%, to 24,168.72, giving up almost all the gains made in Wednesday trade, when the index recovered from an eight-day losing streak.

That rebound came as China’s central bank announced an $81-billion U.S. stimulus, but new reports say that stimulus is pending while banks prepare the relevant materials.

In Japan, most tech exporters advanced, with semiconductor firm Renesas Electronics Corp. rallying 5.4%, electronics giant Hitachi, Ltd. climbing 2.5%, industrial-robot manufacturer Fanuc Corp. rising 2.3%, and camera maker Olympus Corp. tacking on 2.1%.

However, Sony Corp. sank 8.6% after the media conglomerate warned of a wider loss for this financial year on Wednesday.

Among Hong Kong market movers, property developer China Resources Land Ltd. declined 2.8%, telecoms giant China Mobile Ltd. lost 1.2%, and Industrial and Commercial Bank of China Ltd., the nation’s largest bank by assets, dropped 1%.

CHINA

Shanghai’s CSI 300 index gained 7.34 points, or 0.3%, to 2,408.66

On Thursday, the People’s Bank of China made a second surprise move to ease monetary policy, cutting its 14-day repurchase agreement rate by 20 basis points.

In other markets;

In Korea, the Kospi index subtracted 14.87 points, or 0.7%, to 2,047.74

The Taiex index in Taiwan gained 41.86 points, or 0.5%, to 9,237.03

In Singapore, the Straits Times STI Index inched up 0.81 points to 3,297.29

In New Zealand, the NZX 50 took on 11.84 points, or 0.2%, to 5,154.18

Australia’s S&P/ASX 200 picked up 8.57 points, or 0.2%, to 5,415.25


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<![CDATA[U.S. jobless applications fall sharply ]]>Thu, 18 Sep 2014 12:00:00 ESThttp://baystreet.ca/articles/globalmarkets.aspx?id=1215The number of people applying for U.S. unemployment benefits dropped by a sharp 36,000 last week to a seasonally adjusted 280,000, a sign that the job market is strengthening.

The four-week average of applications, a less volatile measure, fell 4,750 to 299,500, the U.S. Labor Department said Thursday. The number of people collecting benefits during the first week of September totaled 2.43 million, the fewest since May 2007.

Applications for unemployment benefits remain at pre-recession levels. The number of people seeking benefits has been trending downward for the past four months.

Over the past year, the four-week average for applications has fallen 7.1%. In 2009, during the Great Recession, applications topped 650,000.

Applications are a proxy for layoffs. When fewer people seek benefits, it suggests that employers are keeping their workers, likely because they are more confident about customer demand and may be ready to hire.

The drop in the number of people applying for benefits has been coupled by steady job growth, despite a slowdown in hiring in August.

Employers added just 142,000 jobs last month, according to the department, down from 212,000 in July. That followed a six-month streak of monthly job gains in excess of 200,000. The unemployment rate fell to 6.1% from 6.2%, but only because some of those out of work gave up looking. The government doesn't count people as unemployed unless they are actively searching for a job.

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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]]><![CDATA[TSX flat at finish]]>Thu, 18 Sep 2014 12:00:00 ESThttp://baystreet.ca/articles/marketupdates.aspx?id=3597Thursday, September 18, 2014

04:35 PM EST
TSX flat at finish

Investors cheer China news




Equity markets in Canada’s largest centre were virtually unchanged on Thursday as a drop in gold-mining shares offset gains in most other sectors, while investors continued to digest U.S. Federal Reserve comments on its policy outlook.

The S&P/TSX composite index inched higher 6.66 points to end the day at 15,465.54

The Canadian dollar gained 0.44 cents to 91.36 cents U.S.

Financials advanced as Royal Bank of Canada climbed 0.8% to $83.11, and Bank of Montreal added 0.7% to $85.42.

The gold-mining sector dropped with Goldcorp losing 2.6% to $26.63 and Barrick Gold declining 2.1% to $17.52.

In corporate news, Penn West Petroleum said it was strengthening its accounting practices after a review uncovered irregularities that forced the company to restate some of its previous results. Shares of the oil producer jumped 7.8% to $8.33.

On the economic beat, Statistics Canada reports that just as many Canadians were on the pogey in July as the month before. The number of people receiving regular Employment Insurance benefits in July totaled 499,300, little changed from the previous month.

Compared with 12 months earlier, the number of beneficiaries decreased 2.9% or 14,900.

Also, the agency said Canadian investors added $9.7 billion of foreign securities to their portfolios in July, the largest such investment since April 2007. Meanwhile, foreign investors acquired $5.3 billion of Canadian securities, mostly corporate instruments.

ON BAYSTREET

The TSX Venture Exchange fell back 6.72 points to 965.79.

Eight of the 14 Toronto subgroups were lower on the day, as gold tumbled 1.9%, materials shed 1.5%, and the metals and mining group dipped 1.3%

The half-dozen gainers were perked mostly by financials, up 0.5%, while telecoms and utilities were up 0.3% each.

ON WALLSTREET

The S&P 500 and Dow Jones Industrial Average closed at record levels on Thursday as investors welcomed the Federal Reserve’s commitment to low interest rates long after the ending of monetary stimulus.

The Dow Jones Industrials bolted higher 109.14 points to 17,265.99.

The S&P 500 added 9.79 points to 2,011.36. The NASDAQ moved forward 31.24 points to 4,593.43.

Alibaba is expected to start trading on the New York Stock Exchange on Friday morning. The initial public offering could raise over $25 billion, making it the biggest ever.

Rite Aid Corp. is tumbled 19% after the drugstore chain slashed its outlook, blaming generic drugs.

Pier 1 Imports Inc. sank 18% after earnings fell short of hopes and the company cut its forecast for the year late Wednesday.

Better-than-expected reading on jobless claims was countered by disappointing data from the housing market. Applications for jobless benefits dropped to the lowest level since mid-July, signaling that employers are laying off very few workers, according to government data released Thursday.

However, construction started on new U.S. homes tumbled in August, pulling back after a surge in July, signaling some shakiness in the housing market’s recovery, according to government data released Thursday.

China’s central bank cut short-term borrowing costs for banks on Thursday, the same week it announced a cash injection into the country’s five biggest banks.

Prices for 10-year U.S. Treasuries sagged, raising yields to 2.63% from Wednesday’s 2.60%. Treasury prices and yields move in opposite directions.

Oil prices dropped $1.35 to $93.07 U.S. a barrel.

Gold prices went down $9.80 to $1,226.10 U.S. an ounce.





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<![CDATA[Stocks in Play: True Gold Mining Inc.]]>Thu, 18 Sep 2014 09:51:25 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=16474Thursday, September 18, 2014

09:51 AM EST - True Gold Mining Inc. : reported that the Burkina Faso Council of Ministers has approved the issuance of exploitation permits (equivalent to mining permits) for the Kao and Nami deposits at the Karma Gold Project. The Kao and Nami exploitation permits are extensions of the existing Karma Exploitation Permit received in January, 2014, which includes the development of the Goulagou I, Goulagou II and Rambo deposits. True Gold Mining Inc. (V.TGM) shares were unchanged at 0.38.

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<![CDATA[Stocks in Play: Mission Ready Services Inc.]]>Thu, 18 Sep 2014 09:51:25 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=16475Thursday, September 18, 2014

09:53 AM EST - Mission Ready Services Inc. : announced that its wholly owned subsidiary 10-20 Services Inc.'s initial purchase order for $1 million to remediate or clean contaminated Infantry Combat Equipment for the US Marine Corps Logistics Systems Command has been increased to $4.2 million for the base year effective immediately. Mission Ready Services Inc. (V.MRS) shares were unchanged at 0.29.

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<![CDATA[Stocks in Play: Penn West Petroleum Ltd. ]]>Thu, 18 Sep 2014 09:51:25 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=16476Thursday, September 18, 2014

09:54 AM EST - Penn West Petroleum Ltd. : announced the results of the voluntary internal review undertaken by the Audit Committee of certain accounting practices, completed the restatement of certain financial statements and related management's discussion and analysis, and confirmed that the Audit Committee's findings do not impact Penn West's strategic direction. Penn West Petroleum Ltd. (T.PWT) shares were up $0.63 at 8.36.

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<![CDATA[Stocks in Play: Absolute Software Corporation. ]]>Thu, 18 Sep 2014 09:51:25 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=16477Thursday, September 18, 2014

09:55 AM EST - Absolute Software Corporation. : announced full support for iOS 8 with the release of Absolute Manage® 6.6. The latest release of Absolute Manage provides customers with an automated MDM enrollment process for Mac computers, allowing IT to quickly provision these devices regardless if they are owned by the company or the employee. Absolute Software Corporation. (T.ABT) shares were unchanged at 7.07.

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<![CDATA[Stocks in Play: Anaconda Mining Inc.]]>Thu, 18 Sep 2014 09:51:25 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=16478Thursday, September 18, 2014

11:54 AM EST - Anaconda Mining Inc. : announced certain financial and operating results from the fiscal first quarter ended August 31, 2014. During the first quarter of fiscal 2015, the Company sold 3,933 ounces of gold and generated $5,511,612 in revenue at an average sales price of $1,401 per ounce. The first quarter of fiscal 2015 sales volume and revenue were both approximately 4% lower than the first quarter of fiscal 2014 when the Company sold 4,096 ounces at an average gold sales price of $1,399 per ounce and generated $5,731,783 in revenue. Anaconda Mining Inc. (T.ANX) shares were unchanged at 0.06.

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<![CDATA[Stocks in Play: Bayfield Ventures Corp.]]>Thu, 18 Sep 2014 09:51:25 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=16479Thursday, September 18, 2014

11:55 AM EST - Bayfield Ventures Corp. : announced that its drill program has commenced on its Rainy River gold-silver project in north-western Ontario. Bayfield's flagship Burns Block property is surrounded by New Gold's Rainy River project and adjoins the immediate east of New Gold's multi-million-ounce ODM17 gold-silver deposit and adjoins the immediate west of New Gold's expanding Intrepid gold-silver deposit. Bayfield Ventures Corp. (V.BYV) shares were up $0.005 at 0.2.

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<![CDATA[Stocks in Play: West African Resources Limited]]>Thu, 18 Sep 2014 09:51:25 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=16480Thursday, September 18, 2014

11:56 AM EST - West African Resources Limited : announced further highgrade gold results from sulphide diamond drilling at its Mankarga 5 deposit, Burkina Faso. Results from the ongoing diamond drilling program targeting primary mineralisation include: TAN14-DD021: 2m at 28.17 g/t Au from 56m and TAN14-DD021: 11m at 3.30 g/t Au from 80m including; - 3m at 4.27 g/t Au and one metre at 16.82 g/t Au from 86m. West African Resources Limited (V.WAF) shares were unchanged at 0.1.

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<![CDATA[Stocks in Play: WesternOne Inc.]]>Thu, 18 Sep 2014 09:51:25 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=16481Thursday, September 18, 2014

03:36 PM EST - WesternOne Inc. : approved a cash dividend of $0.05 per share for the month of September (equivalent to $0.60 per share on an annualized basis). This dividend will be paid on October 22 to shareholders of record at the close of business on September 30. WesternOne Inc. (T.WEQ) shares were up $0.13 at 7.86.

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<![CDATA[Stocks in Play: Air Canada]]>Thu, 18 Sep 2014 09:51:25 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=16482Thursday, September 18, 2014

03:37 PM EST - Air Canada : has adjusted its first checked bag policy for North American travel to align it with prevailing North American industry practices. The carrier's fee for a first checked bag on U.S. transborder routes, in place since 2011, remains unchanged. Starting today, customers purchasing Air Canada's lowest Economy Class Tango fare for travel on or after November 2, on domestic flights within Canada and to and from the Caribbean and Mexico will now be charged $25 for a first checked bag, in line with the baggage allowance policies of other North American carriers. Air Canada (T.AC.A) shares were up $0.32 at 8.95.

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<![CDATA[Gemini Corporation Acquiring Muskeg Environmental Consulting]]>Wed, 17 Sep 2014 04:54:29 ESThttp://baystreet.ca/articles/stockstowatch.aspx?id=789Wednesday, September 17, 2014

Gemini Corporation Acquiring Muskeg Environmental Consulting



2014 has been packed full of mega mergers, but this week has actually been a little change of pace with news of amalgamations slowing down a bit. Microsoft has made the biggest splash, saying on Monday that it is spending $2.5 billion to buy Mojang AB, the software company behind the insanely popular game Minecraft.

In the small cap space, Calgary-based professional energy service company Gemini Corporation (TSX-Venture:GKX) said on Wednesday that it is acquiring Muskeg Environmental Consulting Ltd., an environmental consulting firm servicing oil and gas clients in northeastern British Columbia, as Gemini aims to expand its services and geographic footprint in Western Canada.

Muskeg employs more than 30 people in its office located in Fort St. John, British Columbia, specializing in environmental, remediation and reclamation services.

Financial terms of the transaction were not disclosed, nor have the terms been finalized, although Gemini intends to fund the acquisition through a combination of cash and shares. The acquisition is expected to close in early October.

Gemini says increasing regulation across the oil and gas industry has created a high growth opportunity for companies that have the scope of offerings to expedite the regulatory approval process. The company’s diversified services include land, environmental, regulatory, engineering, fabrication, installation and maintenance solutions. Gemini also provides a value to customers with its integrated design-build project delivery model.

The acquisition of Muskeg complements the existing Gemini business and brings a new client base to Gemini. The company also sees an expansion opportunity by bolstering its service offering at the front end of projects, which should shepherd growth for its engineering and field service business units.

"The growth opportunities for both our business and our personnel are important factors in making this investment. The expertise and experience of the professionals in each of our organizations are what will make this combination a success,” stated Doug Lautermilch, Gemini's President and CEO, in a statement today.

The new client portfolio should help continue to grow the top line at Gemini, which posted a strong first quarter this year. In the January to March period, revenue totaled $24.22 million, a 63% jump from $17.35 million in Q1 2013. Net loss was trimmed to $171,000, or three cents per share, from $370,000, or seven cents per share, in the year-prior quarter.

Still, though, the stock has fallen significantly from a high in April at $1.15 to a low of 56 cents hit on Tuesday. Investors aren’t responding much to the acquisition news, with the stock climbing only 1.8% to 57 cents on minimal volume of 5,500 shares as the day winds to a close.

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<![CDATA[Yellen leaves statement mostly unchanged]]>Thu, 18 Sep 2014 09:42:34 ESThttp://baystreet.ca/articles/forex_trader.aspx?id=19378
The greenback has remained within its range against its Canadian counterpart if the last few days and the focus now turns to tomorrow’s Canadian Consumer Price Index and wholesale sales tomorrow morning, while continuing to be susceptible to volatility from the Scottish vote. A prerecorded speech from Yellen is out this morning on "The Importance of Asset Building for Low and Middle Income Households", which will have very little to do with monetary policy. U.S. weekly unemployment claims dropped back below 300,000 to 280,000 which should be a positive for the rebound in employment everyone is looking for in September.

Traders expect a range today of 1.0940 to 1.1030 Canadian

The euro is down 15 basis points from yesterday’s close, but still trading around its low. The European Central Bank released the first TLTRO allotment where 82.6 billion euros will be used to support lending to the real economy. No significant movements occurred. The continental currency is now trading at 1.4134 Canadian.

Experts expect a range today of 1.4095 to 1.4180 Canadian

The pound is strong, up 30 bps from yesterday’s close, leading into the North American session. The GBP topped out at 1.8018 Canadian in the early morning U.K. session as Scotland begins to vote. Polls are open until 17:00 ET where votes will be counted and results should be released anywhere between 23:00 - 1:00 ET. Retail sales were slightly weaker than expected printing at 3.9% rather than the expected 4.0%. The GBP is currently trading at 1.7945 Canadian.

The Australian dollar is underperforming and dropping 44 bps from yesterday’s close. This would mark the fifth consecutive day loss and the Aussie has dropped over 400 bps since last week. A break below support levels of 0.9830 could put the Aussie in the new 0.9744 – 0.9810 Canadian range. The Aussie is opening at 0.9863 Canadian.

The New Zealand dollar is weak this morning although Gross Domestic Product figures printed better than expected. The kiwi is currently trading at 0.8905.

Data Releases

CAD: No data

AUD: No data

EUR: Targeted LTRO

GBP: Retail Sales + Scottish Independence Vote

JPY: BOJ Gov Kuroda Speaks

NZD: No data

USD: Building Permits + Unemployment Claims + Fed Chair Yellen Speaks + Philly Fed Manufacturing Index

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<![CDATA[ Top Analysts Action: MDVN, MBFI, MON, LVLT, BXP]]>Thu, 18 Sep 2014 12:54:08 ESThttp://www.baystreet.ca/articles.aspx?id=27801<![CDATA[Intel (INTC) up on Spreadtrum stake]]>Thu, 18 Sep 2014 11:33:35 ESThttp://www.baystreet.ca/articles.aspx?id=27800<![CDATA[Flexion Therapeutics (FLXN) falls as FDA stops trials]]>Thu, 18 Sep 2014 11:31:57 ESThttp://www.baystreet.ca/articles.aspx?id=27799<![CDATA[EPIQ Systems (EPIQ) down as activist hikes stake]]>Thu, 18 Sep 2014 11:29:50 ESThttp://www.baystreet.ca/articles.aspx?id=27798<![CDATA[Peabody Energy (BTU) falls on downgrade]]>Thu, 18 Sep 2014 11:28:19 ESThttp://www.baystreet.ca/articles.aspx?id=27797<![CDATA[ReWalk Robotics (RWLK) plummets after Wed. fall]]>Thu, 18 Sep 2014 11:27:02 ESThttp://www.baystreet.ca/articles.aspx?id=27796<![CDATA[Rite Aid (RAD) falters on lower outlook]]>Thu, 18 Sep 2014 11:25:07 ESThttp://www.baystreet.ca/articles.aspx?id=27795<![CDATA[Pier 1 Imports (PIR) topples on Q2 results]]>Thu, 18 Sep 2014 11:23:48 ESThttp://www.baystreet.ca/articles.aspx?id=27794<![CDATA[United Natural Foods (UNFI) down on Q4 results]]>Thu, 18 Sep 2014 11:04:07 ESThttp://www.baystreet.ca/articles.aspx?id=27793<![CDATA[Herman Miller (MLHR) flat despite Q1 revenue, forecast]]>Thu, 18 Sep 2014 11:02:56 ESThttp://www.baystreet.ca/articles.aspx?id=27792