Baystreet.ca RSS Feed http://www.baystreet.ca/rss/MasterRSS.aspx en-us Copyright (c) 2017 Baystreet.ca Inc. All rights reserved. 1/18/2017 3:03:35 AM <![CDATA[Secure Energy Services "OUTPERFORM"]]>Tue, 17 Jan 2017 11:40:00 ESThttp://baystreet.ca/articles/analyst_ratings.aspx?28767<![CDATA[Oil Prices Boosted By Struggling U.S. Dollar]]>Tue, 17 Jan 2017 07:43:00 ESThttp://baystreet.ca/articles/commodities.aspx?id=831Tuesday, January 17, 2017


Oil Prices Boosted By Struggling U.S. Dollar


With the U.S. dollar being dealt a most solid dose of the whoop-bang-wallops (WBWs), crude prices cannot help but be propelled higher today. The great British pound on track for its best day since 2008, as the promise of a parliamentary vote on Brexit has sent it on a madcap rally. A super-strong pound (ergo, a weaker dollar) is lifting crude - although the fun and games for crude kick off in the coming days, with monthly IEA and OPEC reports, and the weekly EIA report. Before that, hark, here are five things to consider in oil markets today.

1) The National Development and Reform Commission (NDRC) for China has published its latest five-year plan, in which it outlines its expectations for domestic oil production. It projects it at ~4 million barrels per day in 2020 - similar to where it is today, and down 7 percent from its previous estimate. Wood Mackenzie is even more pessimistic than this, projecting oil output will drop to 3.6mn bpd over the next four years.

Natural gas production, however, is expected to rise by almost two-thirds on its prior estimate - up to 220 Bcm by 2020 - as state-run oil and gas companies continue to stymie their investment into oil, and pivot their efforts towards natural gas. Shale gas output is projected at 30 bcm - some 14 percent of this total.

CNPC is expected to further cut spending on exploration and engineering this year by 20 percent. Break-evens for onshore oil fields are pegged at around $50/bbl.

2) We spoke recently about how China's National Energy Administration (NEA) has outlined a plan to invest $361 billion into renewables by 2020. Worldwide spending on clean energy last year was at $287.5 billion, down 18 percent on 2015's record high.

China's spending on renewables actually tumbled 26 percent, but still accounted for 31 percent of global investment last year as it came in at $87.8 billion. The U.S. accounted for $58.6 billion of the total. Worldwide spending dropped in part because technological advances and competition have dramatically reduced the cost of solar panels and wind turbines. This year is tentatively projected to be in line with last year's investment.

3) According to internal documents, PdVSA expects Venezuelan oil production to remain near 23-year lows this year, coming in close to last year's average production level of 2.5 million bpd. (To put this number in context, OPEC secondary sources peg November production at 2.1 million bpd, direct communications peg it at 2.3 million bpd).

PdVSA projects that Venezuelan crude exports to India are going to drop to 360,000 bpd this year, down 16 percent versus last year's levels (hark, in line with our ClipperData below). This highlights the potential for further financial stress from PdVSA, as not only is India a key destination for its crude, but India also pays in cash - something PdVSA desperately needs.

A projected increase in exports to China this year indicates PdVSA's need to meet its obligations to the oil-for-debt program, which has been in place with China for a decade, and amounts to more than $50 billion.

4) PdVSA imports light crude and naphtha to act as a diluent for its heavy Orinoco crude. It expects to face a shortage of 28,000 bpd of naphtha in the coming year, given spending constraints. In an effort to counter this, it has a longer-term plan to adjust its refineries to produce more naphtha. In the meantime, it will have to accept a depleted volume.

As our ClipperData illustrate below, the U.S. consistently exports naphtha to Venezuela and Curacao. Volumes have already dropped nearly 17 percent in 2016 to 50,000 bpd, as PdVSA struggles to raise enough cash to meet its obligations.

5) Finally, today's stat of the day comes from Saudi Aramco's CEO. Asim Nassir said on a panel at the World Economic Forum in Davos today that $25 trillion would need to be invested in new oil capacity over the next 25 years to keep up with rising oil demand. Despite a global push towards renewables (as we've spoken about already today), a material shift away from crude will take decades to come to fruition.

By Matt Smith

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<![CDATA[Airbus Plans to Test Flying Car in 2017 ]]>Mon, 16 Jan 2017 03:04:00 ESThttp://baystreet.ca/articles/techinsider.aspx?id=757Monday, January 16, 2017

Airbus Plans to Test Flying Car in 2017


It looks as though "Back to the Future" may have just been off by a few years. Flying cars could soon become a reality.

Airbus (OTC:EADSY) CEO Tom Enders told the DLD digital tech conference that the company’s Urban Air Mobility division would indeed be ready to start testing a self-piloted flying car some time in 2017.

It was just last year the airplane giant announced the Urban Air Mobility division, which is working on projects like a small plane-type vehicle to carry individuals and something more like a helicopter that can carry a small group. Like with Uber, riders would call these vehicles with an app.

Enders pointed out that flying cars wouldn’t just relieve congestion. They would also reduce costs for city planners, as well as saving billions in infrastructure costs. You don’t need a bridge to cross a river with a flying car.

Airbus views investments of this kind inevitable. Enders said "if we ignore these developments, we will be pushed out of important segments of the business." Or, in other words, the company has to innovate. There’s no other choice.

Airbus is staying mum about how much the company is spending on this program, but the company did generate nearly 30 billion euros of revenue in the first half of 2016 with profits before interest and taxes coming in at close to 1.7 billion euros. Plainly stated, the company can afford to spend on research.

Unfortunately for those of us who want to own our own flying car, the company has no idea when such vehicles will be commercially viable.

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<![CDATA[Economic Calendar]]>Wed, 18 Jan 2017 03:03:35 ESThttp://baystreet.ca/articles/econ_calendar.aspx?id=18125January 2017
 

DATE

STATISTIC FOR CURRENT MONTH PREVIOUS MONTH
Tuesday, January 03, 2017 RBC Manufacturing PMI: 9:30am Dec The Markit Manufacturing PMI rose in December to 51.8, led by stronger new order growth, stronger than November's 51.5. The latest reading was the strongest since July and well above the survey-record low of 47.5 seen in December 2015 The RBC Canadian Manufacturing Purchasing Managers’ Index (PMI), a measure of manufacturing business conditions, rose to a seasonally adjusted 51.5 last month from 51.1 in October. A reading above 50 indicates growth in the sector.
Thursday, January 05, 2017 Industrial Product Price Index: 8:30am Nov The Industrial Product Price Index rose 0.3% in November. The Industrial Product Price Index rose 0.7% in October, led by higher prices for energy and petroleum products.
Thursday, January 05, 2017 Raw Materials Price Index: 8:30am Nov The Raw Materials Price Index decreased 2.0%, mainly due to lower prices for crude energy products. The Raw Materials Price Index increased 3.3%, mainly due to higher prices for crude energy products.
Friday, January 06, 2017 Canadian International Merchandise Trade: 8:30am Nov Canada's merchandise trade balance with the world recorded its first trade surplus since September 2014, going from a $1-billion deficit in October to a $526-million surplus in November. Exports rose 4.3%, while imports were up 0.7%. Canada's imports fell 6.3% to $44.7 billion in October, while exports increased 0.5% to $43.6 billion. Consequently, Canada's merchandise trade deficit with the world narrowed from a record $4.4 billion in September to $1.1 billion in October.
Friday, January 06, 2017 Labour Force Survey: 7:00am Dec Employment rose by 54,000, or 0.3%, in December, the result of gains in full-time work. The unemployment rate increased 0.1 percentage points to 6.9%, as more people participated in the labour market. Employment was up 11,000, or 0.1%. With fewer people searching for work, the unemployment rate fell by 0.2 percentage points to 6.8%.
Friday, January 06, 2017 IVEY Purchasing Managers Index: 10:00am Dec Western University's Ivey Purchasing Managers Index (seasonally adjusted) by the end of December 2016 stood at 60.8, compared to 56.8 in November, 49.9 in December 2015, and 55.4 in December 2014 Western University's Ivey Purchasing Managers seasonally-adjusted index declined to 56.8 from 59.7 in November, while the unadjusted index was unchanged at 56.5.
Tuesday, January 10, 2017 Building Permits: 8:30am Nov. Municipalities issued $7.8 billion worth of building permits in November, down 0.1% from the previous month. Municipalities issued $7.6 billion worth of building permits in October, up 8.7% from September.
Tuesday, January 10, 2017 Housing Starts: 8:15am Dec Canada Mortgage and Housing Corporation reported that the trend measure of housing starts in Canada was 198,053 units in December compared to 200,105 in November. Canada Mortgage and Housing Corporation reported housing starts housing starts in Canada were 199,135 units in November compared to 199,641 in October.
Thursday, January 12, 2017 New Housing Price Index: 8:30am Nov The New Housing Price Index rose 0.2% in November compared with the previous month. The New Housing Price Index rose 0.4% in October compared with the previous month
Monday, January 16, 2017 CREAstats - MLS Sales: 8:30am Dec The number of homes trading hands via Canadian MLS® Systems rose 2.2 % month-over-month in December 2016. nds via Canadian MLS® Systems rose 2.2 % month-over-month in December 2016. The rebound recovered less than half of the drop in activity from October to November The Canadian Real Estate Association reported that national home sales fell 5.3% from October to November. Actual (not seasonally-adjusted) activity remained 1.6% above levels in November 2015.
Wednesday, January 18, 2017 Employment Insurance: 8:30am Nov --- The number of Canadians drawing regular employment insurance benefits numbered 575,200 in October, down 2,700, or 0.5%, from September.
Wednesday, January 18, 2017 BoC Rate Announcement: 10:00am --- --- The Bank of Canada is maintaining its target for the overnight rate at 0.5%. The Bank Rate is correspondingly 0.75% and the deposit rate is 0.25%
Thursday, January 19, 2017 Monthly Survey of Manufacturing: 8:30am Nov --- Manufacturing sales declined 0.8% to $51.0 billion in October, following two consecutive monthly gains.
Thursday, January 19, 2017 Canada's International Transactions in Securities: 8:30am Nov --- Foreign acquisitions of Canadian securities amounted to $15.8 billion in October, mainly Canadian corporate debt securities. At the same time, Canadian investors added $2.1 billion of foreign securities to their holdings, led by acquisitions of U.S. corporate instruments.
Friday, January 20, 2017 Consumer Price Index: 7:00am Dec --- The Consumer Price Index rose 1.2% on a year-over-year basis in November, following a 1.5% increase in October. On a seasonally adjusted monthly basis, the CPI was down 0.2% in November, after increasing 0.2% in October.
Friday, January 20, 2017 Retail Trade: 8:30am Nov --- Retail sales rose for the third consecutive month, rising 1.1% to $45.0 billion in October.
Monday, January 23, 2017 Wholesale Trade: 8:30am Nov --- Wholesale sales increased 1.1% to $56.6 billion in October, offsetting most of September's 1.5% decrease.
Thursday, January 26, 2017 Average Weekly Earnings Nov --- Average weekly earnings of non-farm payroll employees were $954 in October, down 0.1% from the previous month and unchanged compared with 12 months earlier
Sunday, January 29, 2017 Industrial Product Price Index: 8:30am Dec --- The Industrial Product Price Index rose 0.3% in November.
Sunday, January 29, 2017 Raw Materials Price Index: 8:30am Dec --- The Raw Materials Price Index decreased 2.0% in November, mainly due to lower prices for crude energy products.
Tuesday, January 31, 2017 GDP: 8:30am Nov --- After increasing for four consecutive months, real gross domestic product was down 0.3% in October.
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<![CDATA[Trudeau Can't Win by Hiking Energy Prices]]>Tue, 17 Jan 2017 08:50:00 ESThttp://baystreet.ca/articles/economiccommentary.aspx?id=1774Trudeau Can't Win by Hiking Energy Prices


When Justin Trudeau shuffled his cabinet last week, it signaled the prime minister is taking the next United States president seriously. Finding the right mix of people to work with White House officials is important. But government policies also matter, and Trudeau will need to do more to keep Canada competitive and protect Canadian jobs.

Donald Trump is ready to upend U.S. policy on everything from trade, to defence treaties, to immigration. But the president-elect’s domestic proposals on taxes and energy are our greater challenge.

Trump says he will move quickly to cut the business tax rate from 35% to 15%. Add in the 4% average corporate tax applied by state and local governments and the new U.S. effective tax rate could soon be a cool 19%, about eight points lower than Canada’s 27% average when federal and provincial rates are combined. Our country’s tax advantage is coming to a sudden end. If the U.S. leaps ahead of us with a lower rate, businesses will invest more there.

Trudeau wants all provinces to put a price on carbon, directly with a carbon tax or indirectly with cap-and-trade regulations. The impact is the same: more expensive for Canadians to get around, heat their homes and keep the lights on. Pricing carbon will increase the cost of almost everything, including food.

A typical Canadian family will likely pay more than $1,200 a year in new energy taxes by 2022, twice that amount if Ottawa decides to apply its new tax aggressively.

Carbon pricing isn’t the only way Trudeau plans to raise electricity rates. His order to provincial governments to shutter coal-fired stations by 2030 will eliminate a source of cheap and reliable power from Canada’s energy mix.

Meanwhile U.S. ratepayers will be spared from paying a carbon tax and that country’s energy costs will likely fall as Trump repeals President Barack Obama’s executive orders restricting the extraction and use of fossil fuels.

Trudeau says Canada could win if the incoming president rejects plans to make U.S. energy more expensive.

Trump’s energy policies twinned with deep tax cuts will reduce Canada’s competitiveness. Canadian policymakers, along with the prime minister, don’t have to like this change and may privately curse it. But our federal and provincial governments cannot pretend Trump’s policy agenda won’t have any impact on the economy when Canadian jobs are at risk.

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<![CDATA[Asia Cautious Ahead of May Brexit Speech ]]>Tue, 17 Jan 2017 08:05:00 ESThttp://baystreet.ca/articles/foreignmarketwrap.aspx?id=2538Tuesday, January 17, 2017

Asia Cautious Ahead of May Brexit Speech


Markets in Asia finished mixed on Tuesday, as investors remained cautious ahead of British Prime Minister Theresa May's speech on Brexit plans due later in the global day, as well as U.S. President-elect Donald Trump's inauguration stateside at the end of the week.

The Nikkei 225 Index continued its slump, falling 281.71 points, or 1.5%, to 18,813.53,

The Hang Seng Index in Hong Kong recovered 122.82 points, or 0.5%, to 22,810.97

In her speech, May is expected to outline plans for the United Kingdom's to exit the European Union.

The yen gained ground against the U.S. dollar, strengthening to as high as 113.32, up from levels above 116 in the previous week on safe haven demand. Mid-afternoon local time, the dollar/yen pair traded at 113.46.

The currency's relative strength kept major Japanese exporters under pressure. Shares of automakers Toyota closed down 1.6%,
Nissan declined 1% and Honda was off by 2.7%, while electronics maker Sharp fell 2.7%

Samsung Group shares appeared mostly steady, with Samsung Electronics up 0.8%, Samsung SDI up 0.4% and Samsung C&T down 2%. Samsung Engineering, on the other hand, declined 4%.

Seoul's central district court is said to hold a hearing on Wednesday morning local time to decide whether it will approve an arrest warrant for the head of Samsung Group, Jay Y. Lee, after South Korea's special prosecutors' office accused him of paying millions of dollars in bribe to a friend of President Park Geun-hye

Australia's benchmark closed down, with most sectors finishing lower.

The financial sector was off 1%, with major banks selling off. Shares of ANZ fell 1.3%, Commonwealth Bank of Australia off by 0.9%, Westpac down by 0.9% and the National Australia Bank off by 1.1%

The Australian dollar fetched $0.7519, climbing from levels below $0.7350 last week.

In company news, Australian miner Rio Tinto released its fourth quarter and full-year 2016 production results and provided guidance for 2017.

Iron ore shipments from Pilbara came in at 327.6 million tonnes for 2016, which was in line with guidance, and about 3% higher than 2015 numbers. For 2017, Rio Tinto expects Pilbara shipments to be between 330 and 340 million tonnes.

Meanwhile, mined copper production in 2016 climbed 4% on-year, but came in below expectations.

Shares of Rio Tinto fell 0.8%, erasing earlier gains of more than 1.2%. Other major resources producers also fell, with BHP Billiton down 0.2% and Fortescue down 3.3%.

CHINA

In Shanghai, the CSI 300 regained 6.91 points, or 0.2%, to 3,326.36

Chinese President Xi Jinping is due to speak at Davos later on Tuesday with the remarks to be watched for any comments on recent tensions on trade and geopolitics.

In other markets

In Korea, the Kospi picked up 7.7 points, or 0.4%, to 2,071.87

The Straits Times Index in Singapore dropped 0.35 points to 3,012.77

In Taiwan, the Taiex Index gained 62.2 points, or 0.7%, to 9,354.53

In New Zealand, the NZX 50 hesitated 11.98 points, or 0.2%, to 7,062.96

Australia's ASX 200 fell 49.02 points, or 0.9%, at 5,699.42




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<![CDATA[Investors Juiced About U.S. Growth Prospects ]]>Tue, 17 Jan 2017 10:02:00 ESThttp://baystreet.ca/articles/globalmarkets.aspx?id=1772Americans who invest for a living entered 2017 with high expectations, tempered with caution over what could go wrong.

The latest survey from Bank of America Merrill Lynch Fund Managers finds optimism for economic growth south of the border at a two-year high

The biggest bets among respondents are on banks, the U.S. dollar and real estate investment trusts, while some of the biggest areas of scorn are emerging market stocks, industrials and commodities. A record level of respondents indicated small-cap stocks will outperform.

However, investors also are keeping cash on hand as a buffer against what could go wrong. Investors believe the three biggest risks to be a trade war, U.S. policy error, and China problems including a currency devaluation or a real estate bubble.

Donald Trump takes office as the 45th president Friday amid expectations that his promises of lower taxes, less regulation and higher spending will spur the economy, which has seen steady though lackluster growth since the financial crisis and accompanying recession

Investors expecting the global economy to expand over the next 12 months hit a net 62%— the difference between those believing the economy will grow against those who think it will contract — while inflation expectations were at the fifth-highest on record. Similarly, the portion of investors looking for above-trend growth and inflation is at a five-and-a-half-year high.

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<![CDATA[IPO Center - TSX-V]]>Wed, 09 Dec 2015 12:00:00 ESThttp://baystreet.ca/articles/ipo_tsx.aspx?id=10023 Company Name Ticker Date BioNeutra Global Corporation BGA 09-12-2015 International Datacasting Corporation IDC 14-12-2015 Buffalo Coal Corp. BUF 18-12-2015 Orezone Gold Corporation ORE 21-12-2015 IDM Mining Ltd. IDM 30-12-2015 Percy Street Capital Corporation PSC 12-01-2016 New Global Acreage Resources Ltd. RAP.P 13-01-2016 McorpCX, Inc. MCX 03-02-2016 Nurcapital Corporation Ltd. NCL 04-02-2016 CaNickel Mining Limited CML 05-02-2016 Axios Mobile Assets Corp. AXA 29-02-2016 Brassneck Capital Corp. BC.P 15-03-2016 MDN Inc. MDN 31-03-2016 Black Lion Capital Corp. BLC 01-04-2016 CUP Capital Corp. CPU 08-04-2016 Nobelium Tech Corp. NBL.P 13-04-2016 Spada Gold Ltd. SPL 14-04-2016 Era Resources Inc. ERX 18-04-2016 Helius Medical Technologies, Inc. HSM 18-04-2016 Huffington Capital Corporation HU.P 19-04-2016 Nova Leap Health Corp. NLH.P 26-04-2016 Targeted Microwave Solutions Inc. TMS 17-05-2016 Cortina Capital Corp. CCN 17-05-2016 Mercal Capital Corp. MUL 18-05-2016 Westshire Capital II Corp. WSH 31-05-2016 IMEX Systems Incorporated IMX 14-06-2016 Kneat.com Inc. KSI 05-07-2016 Fortune Bay Corp. FOR 05-07-2016 GoviEx Uranium Inc. GXU 11-07-2016 Mbac Fertilizer Inc. MBC 12-07-2016 H-Source Holdings Ltd. HSI 25-07-2016 Mariana Resources MRA 26-07-2016 Cardero Resource Corp. CDU 02-08-2016 Austral Gold Limited AAM 22-08-2016 Filo Mining Corp. FIL 26-08-2016 Jura Energy Corporation JEC 01-09-2016 Northwest Arm Capital Inc. NWA 12-09-2016 Aurora Cannabis Inc. ACB 05-10-2016 European Commercial Real Estate Limited ERE.P 07-10-2016 Starlight U.S. Multi-Family (No. 5) Core Fund SUA.A 13-10-2016 IsoEnergy Ltd. ISO 19-10-2016 Metalore Resources Limited MET 14-11-2016 Trusted Brand 2016 Inc. HAH.P 30-11-2016 FP Newspapers Inc. FP 22-11-2016 Zazu Metals Corporation ZAZ 01-12-2016 Lite Access Technologies Inc. LTE 13-12-2016 Global Gardens Group Inc. VGM 03-01-2017]]><![CDATA[TSX Finishes in Red]]>Tue, 17 Jan 2017 04:19:00 ESThttp://baystreet.ca/articles/marketupdates.aspx?id=5903Tuesday, January 17, 2017

04:19 PM EST
TSX Finishes in Red

Gold Stronger, Industrials Wilt




Stocks in Canada’s biggest centre couldn’t quite shake off the red ink Tuesday, despite numerous attempts to scale the breakeven point, as losses in industrial and bank stocks weighed just too much on the market.

The S&P/TSX Composite finished Tuesday negative by 37.93 points to 15,441.36

The Canadian dollar spiked 0.68 cents at 76.58 cents U.S.

Gold stocks paced gains, with Goldcorp soaring 64 cents, or 3.3$, to $19.79, while Iamgold jumped 13 cents, or 2.2% to $6.04.

Among energy issues, Encana Corp. took on 26 cents, or 1.5%, to $17.42, while TransCanada Corp. hiked 59 cents, or nearly 1%, to $61.80.

Utilities also came out positive, as Algonquin Power & Utilities climbed nine cents to $11.30, while Fortis Inc. acquired nine cents to $41.45.

Industrials took the worst beating of the day, as Air Canada was grounded 25 cents, or 1.8%, to $13.56, and Canadian Pacific got thumped $4.20, or 2.2%, to $190.45.

Financials also had a rough day of it, as Scotiabank shares lost 78 cents, or 1%, to $76.59, while TD Bank slid 64 cents, or nearly 1%, to $66.36.

ON BAYSTREET

The TSX Venture Exchange eked up 1.29 points to 796.83

Seven of the 12 subgroups were higher, as gold jumped 1.3%, while energy and utilities each sparked 0.4%.

The five laggards were weighed most by industrials, stumbling 1.1%, financials, scaling back 0.7%, and consumer discretionaries, dipping 0.3%.

ON WALLSTREET

U.S. equities fell on Tuesday, with financials lagging, as uncertainty around President-elect Donald Trump's policies grew.

The Dow Jones Industrials drooped 67.93 points to end the day at 19,817.80, with JPMorgan Chase leading decliners and Wal-Mart the top advancer.

The S&P 500 subtracted 6.75 points to 2,267.89, with financials leading six sectors lower and consumer staples outperforming.

The NASDAQ composite index decreased 35.39 points to 5,538.73

There were no major U.S. economic data due Tuesday, but a slew of firms reported quarterly results, including Morgan Stanley, which beat analyst expectations on both the top and bottom line. Morgan Stanley shares fell 2.5%, however.

Equity markets in the United States were shuttered Monday for Martin Luther King Day.

In an interview with the Wall Street Journal, Trump criticized a proposed corporate tax plan from the House of Representatives, labeling the plan "too complicated.”

The stock market stateside has soared since the election partially on hopes of corporate tax reform, deregulation of certain sectors and more government spending. Trump's inauguration is scheduled for Friday.

Adding pressure to U.S. stocks were concerns of a hard Brexit. In a speech Tuesday, British Prime Minister Theresa May indicated the United Kingdom would seek a clean break from the European Union.

May added, however, The U.K. government will put the Brexit deal it agrees with the European Union to a parliamentary vote.

Prices for the benchmark 10-year Treasury note strengthened, lowering yields to 2.35% from Friday’s 2.4%. Treasury prices and yields move in opposite directions.

Oil prices gained 24 cents to $52.61 U.S. a barrel

Gold prices hiked $16.40 to $1,212.60 U.S. an ounce.





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<![CDATA[Stocks in Play: Pan American Silver Corp.]]>Tue, 17 Jan 2017 09:55:39 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=21897Tuesday, January 17, 2017

09:55 AM EST - Pan American Silver Corp. : And Coeur Mining, Inc. announced a definitive agreement under which Pan American will acquire 100% of Coeur’s Joaquin project, located in the Santa Cruz province of southern Argentina. Pan American Silver Corp. (T.PAA) shares were up $0.19 at 23.63.

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<![CDATA[Stocks in Play: Tomagold Corporation]]>Tue, 17 Jan 2017 09:55:39 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=21898Tuesday, January 17, 2017

09:56 AM EST - Tomagold Corporation : Provided an update of IAMGOLD Corporation's drilling plans for the Monster Lake project in 2017. The Monster Lake project is located 50 kilometres southwest of Chibougamau Quebec. Tomagold Corporation (V.LOT) shares were up $0.01 at 0.08.

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<![CDATA[Stocks in Play: Iamgold Corporation ]]>Tue, 17 Jan 2017 09:55:39 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=21899Tuesday, January 17, 2017

09:57 AM EST - Iamgold Corporation : And Tomagold Corporation provided an update of IAMGOLD’s drilling plans for the Monster Lake project in 2017. The Monster Lake project (IAMGOLD 50%/TomaGold 45%) is located 50 kilometres southwest of Chibougamau (Quebec). Iamgold Corporation (T.IMG) shares were up $0.06 at 5.97.

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<![CDATA[Stocks in Play: Ventripoint Diagnostics Ltd.]]>Tue, 17 Jan 2017 09:55:39 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=21900Tuesday, January 17, 2017

09:58 AM EST - Ventripoint Diagnostics Ltd. : Has filed an application with Health Canada for approval of the expansion of the VMS heart analysis product to include right atrium, left atrium and left ventricle chambers of the heart. Ventripoint Diagnostics Ltd. (V.VPT) shares were down $0.005 at 0.09.

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<![CDATA[Stocks in Play: Bombardier Inc.]]>Tue, 17 Jan 2017 09:55:39 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=21901Tuesday, January 17, 2017

10:42 AM EST - Bombardier Inc. : Says its Transportation division has received an official notice from SNCF to supply, in consortium with Alstom, 71 new trains for the RER lines D and E of the Île-de-France (greater Paris) network. This order is valued at 1.16 billion euro ($1.22 billion U.S.) for the Alstom-Bombardier consortium. Bombardier Inc. (T.BBD.B) shares were up $0.01 at 2.63.

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<![CDATA[Stocks in Play: Golden Star Resources Ltd.]]>Tue, 17 Jan 2017 09:55:39 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=21902Tuesday, January 17, 2017

10:42 AM EST - Golden Star Resources Ltd. : Entered into an agreement led by Clarus Securities Inc. and including National Bank Financial Inc., BMO Capital Markets, Scotia Capital Inc., and CIBC World Markets Inc. under which the Underwriters have agreed to purchase, on a bought deal basis, 27,273,000 common shares Golden Star at a price of $1.10 per Common Share for aggregate gross proceeds of $30,000,300. Golden Star Resources Ltd. (T.GSC) shares were down $0.07 at 1.11.

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<![CDATA[Stocks in Play: Siyata Mobile Inc.]]>Tue, 17 Jan 2017 09:55:39 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=21903Tuesday, January 17, 2017

11:42 AM EST - Siyata Mobile Inc. : Has received a purchase order from LG Canada for its Uniden® UM50 4G Cellular Booster Kits to be installed in service vehicles working in remote locations to better increase their cellular coverage. Siyata Mobile Inc. (V.SIM) shares were down $0.005 at 0.41.

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<![CDATA[Stocks in Play: Trilogy Energy Corp.]]>Tue, 17 Jan 2017 09:55:39 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=21904Tuesday, January 17, 2017

11:45 AM EST - Trilogy Energy Corp. : Provided an update on its fourth-quarter 2016 operations, report on its current hedging program and provide annual guidance for 2017. Trilogy's 2016 annual production averaged approximately 21,800 Boe/d, with an exit rate in December 2016 of approximately 23,800 Boe/d. Trilogy is estimating net capital expenditures of approximately $72.8 million for 2016, which includes $29.7 million in the fourth quarter 2016. Trilogy's Board of Directors approved a 2017 capital budget of $130 million. Management expects the capital program to be funded entirely out of funds flow from operations. Trilogy Energy Corp. (T.TET) shares were up $0.10 at 7.08.

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<![CDATA[Stocks in Play: Great Lakes Graphite Inc.]]>Tue, 17 Jan 2017 09:55:39 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=21905Tuesday, January 17, 2017

03:39 PM EST - Great Lakes Graphite Inc. : Has granted options to purchase 5,685,000 common shares of the Company, exercisable on or before January 17, 2022 with an exercise price of $0.08 per share, to certain directors, officers and consultants of the Company, pursuant to the Company's long-term performance incentive plan. Great Lakes Graphite Inc. (V.GLK) shares were unchanged at 0.08.

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<![CDATA[Stocks in Play: King’s Bay Gold Corporation]]>Tue, 17 Jan 2017 09:55:39 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=21906Tuesday, January 17, 2017

03:40 PM EST - King’s Bay Gold Corporation : Has decided to increase the Lynx Lake Copper/Cobalt property in Labrador area from its original size of 20 square kilometres to approximately 240 square kilometres. King’s Bay Gold Corporation (V.KBG) shares were unchanged at 0.11.

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<![CDATA[Augusta Industries Announces New Electric Field Mapping Project, Shares Up 11% On News]]>Tue, 17 Jan 2017 12:36:00 ESThttp://baystreet.ca/articles/stockstowatch.aspx?id=1543Tuesday, January 17, 2017

Augusta Industries Announces New Electric Field Mapping Project, Shares Up 11% On News


The technology sector is positioned to have a positive year ahead as the general economic climate in the North American region continues to improve. Such general improvement is especially encouraging for companies engaged in the enterprise technology segment.

Augusta Industries Inc. (TSX-Venture:AAO) is a Canadian company which engages in the design, development, manufacture, and supply of systems using fiber optic sensors, related monitoring instruments, and software. It is active across North America and internationally.

The company announced this morning that it has received a new contract for developing a laboratory version of its electric field mapping ("EFM") technology.

The company has entered into this contract through its wholly owned subsidiary, Fox-Tek Canada Inc.

The new collaboration will involve the use of technology in a nuclear facility setup. The company claimed that the client has displayed interest in ordering more units upon the successful completion of this contract. However, the company is also required to make some changes to its operations.

Unlike its regular EFM units which are fully automatic, the new units involved in this project will require a user for taking readings.

Augusta Industries said that this contract will help in opening up new venues for the company. It is positive that this experience will help Augusta Industries in serving industrial research groups, testing labs and universities.

This project is expected to boost the topline growth for the firm. It is also expected to contribute to the technical expertise and goodwill of the firm. The company also has other encouraging prospects such as its Trans Africa Pipeline group project.

This venture involves the construction of a fresh water pipeline, associated solar power plants and desalination of sea water facilities to move potable water from the coast of Mauritania.

That project was first announced in June 2016. Since then, the company has engaged in several meetings with concerned parties including the Delegation of the Ministry of Foreign Affairs & Cooperation of Mauritania in Toronto.

Augusta Industries is scheduled to provide non-intrusive sensing equipment for verifying the integrity of the pipeline composite at key locations. The company is likely to benefit as the project is large scale in nature.

Augusta Industries shares price has been on a roll as it gained 100% in the past year. However, shares have pulled back from highs over the last few weeks. This pullback may prove to be an attractive entry level especially as Augusta continues to move forward with several other company projects such as its project with FBGS for developing advanced optical sensors.

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<![CDATA[Article Lifts Loonie]]>Tue, 17 Jan 2017 09:43:47 ESThttp://baystreet.ca/articles/forex_trader.aspx?id=28772
Experts expect a range today of $1.3011 to $1.3086 Canadian

Not much activity with the euro this morning as only German ZEW survey reported mixed data. The report had little effect on the euro which is currently trading within yesterday’s range. German and euro-zone consumer price index data are due tomorrow. The euro is currently trading at $1.3952 Canadian.

Observers expect a range today of $1.3905 to $1.3998 Canadian

Strong fundamental news out of the U.K. this morning sent the pound sterling flying back into early January’s ranges. CPI in December surged to 1.6% y/y on core and headline when forecasts were for 1.4% y/y. Retail Price Index in December also exceeded expectations of 2.3% y/y and 0.4% m/m, which printed at 2.5% y/y and 0.6% m/m. Prime Minister Theresa May is speaking and has reconfirmed her country's stance on withdrawing from the European single market. In return, she also promised to push for the "greatest possible" access to the single market. Her top two priorities are controlling European Union immigration and withdrawing from the jurisdiction of the European court of justice. Further statements may cause volatility. The pound sterling is currently trading at $1.6103 Canadian.

Traders expect a range today of $1.6216 to $1.6093 Canadian

The Australian dollar is trading higher today following comments from U.S. President-elect Trump. The Aussie broke above the key psychological level at 0.7500 against the U.S. dollar. Copper hit some resistance today and dropped 1.77% this morning, which could weigh on the commodity currency. Domestic risk may come from employment figures, due tomorrow night at 7:30 pm EST.

Oil (WTI): $53.25 U.S.

Gold: $1,216.39 U.S.

Silver: $17.12 U.S.

Copper: $2.6220 U.S.

Dollar Index: 100.5

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<![CDATA[Levi & Korsinsky Notifies Shareholders of a Complaint Filed in U.S. District Court to Recover Losses Suffered by Investors in PayPal (PYPL)]]>Tue, 17 Jan 2017 12:17:00 ESThttp://www.baystreet.ca/articles.aspx?id=36704
Levi & Korsinsky, LLP announced that a class action has commenced in the USDC for the Northern District of California on behalf of purchasers of eBay, Inc. (NASDAQ: EBAY) securities on or after December 19, 2013 who subsequently received PayPal Holdings, Inc. (NASDAQ: PYPL) securities pursuant to the eBay spin-off of PayPal, effective as of July 17, 2015, and/or shareholders who acquired PayPal Holdings, Inc. shares between July 20, 2015 and April 28, 2016.

The complaint alleges that during the class period PayPal failed to disclose that its Venmo service was engaged in unfair trade practices, which were likely to subject the Company to increased regulatory scrutiny and/or affect the profitability of PayPal’s Venmo service.

On March 28, 2016, PayPal received a civil investigative demand from the Federal Trade Commission, seeking documents related to Venmo’s potential unfair trade practices. To get more information go to: http://zlk.9nl.com/paypal

or contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

Take Action: if you suffered a loss in PayPal you have until February 27, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

Levi & Korsinsky LLP encourages anyone with information regarding PayPal’s conduct to contact us, including whistleblowers, former employees, shareholders and others.

Levi & Korsinsky is a national firm with offices in New York, New Jersey, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:

Levi & Korsinsky, LLPJoseph E. Levi, Esq.30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500Toll Free: (877) 363-5972Fax: (212) 363-7171www.zlk.com
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<![CDATA[Levi & Korsinsky Notifies Shareholders of a Complaint Filed in U.S. District Court to Recover Losses Suffered by Investors in General Cable (BGC) ]]>Tue, 17 Jan 2017 12:07:00 ESThttp://www.baystreet.ca/articles.aspx?id=36703
Levi & Korsinsky, LLP announced that a class action has commenced in the USDC for the Southern District of New York on behalf of purchasers of General Cable Corporation (NYSE: BGC) who purchased shares between February 23, 2012 and February 10, 2016.

The complaint alleges that, during the Class Period, General Cable failed to disclose that: (a) the Company had violated the Foreign Corrupt Practices Act by paying millions of dollars in bribes to officials in foreign countries in order to secure business; (b) General Cable’s revenues were in part the product of illegal conduct, and as such, subject to disgorgement and unlikely to be sustainable; and (c) as a result, the Company would be subjected to significant regulatory scrutiny and financial penalties.

On December 29, 2016, General Cable revealed it had agreed to pay $82.3 million to resolve the investigation into inappropriate payments. The Department of Justice stated that “between 2002 and 2013, General Cable subsidiaries paid approximately $13 million to third-party agents and distributors, a portion of which was used to make unlawful payments to obtain business, ultimately netting the Company approximately $51 million in profits.”

To get more information go to: http://zlk.9nl.com/generalcable-bgc

or contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

Take Action: if you suffered a loss in General Cable you have until March 6, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

Levi & Korsinsky LLP encourages anyone with information regarding General Cable’s conduct to contact us, including whistleblowers, former employees, shareholders and others.

Levi & Korsinsky is a national firm with offices in New York, New Jersey, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com
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<![CDATA[Pinnacle Financial Partners (PNFP) Drops with Earnings Expected ]]>Tue, 17 Jan 2017 12:05:28 ESThttp://www.baystreet.ca/articles.aspx?id=36702<![CDATA[IHS Markit (INFO) Gains with Earnings Promised ]]>Tue, 17 Jan 2017 12:02:25 ESThttp://www.baystreet.ca/articles.aspx?id=36701<![CDATA[Interactive Brokers Group (IBKR) Falls on Quarterly Earnings Expectations]]>Tue, 17 Jan 2017 11:59:37 ESThttp://www.baystreet.ca/articles.aspx?id=36700<![CDATA[Hancock Holding Company (HBHC) Dips with Earnings Set for Release]]>Tue, 17 Jan 2017 11:56:35 ESThttp://www.baystreet.ca/articles.aspx?id=36699<![CDATA[ADTRAN (ADTN) Down on Earnings Expectations]]>Tue, 17 Jan 2017 11:54:18 ESThttp://www.baystreet.ca/articles.aspx?id=36698<![CDATA[United Continental Holdings (UAL) Flat with Earnings in Wings]]>Tue, 17 Jan 2017 11:51:00 ESThttp://www.baystreet.ca/articles.aspx?id=36697<![CDATA[CSX Corporation (CSX) Slides on Earnings Estimates]]>Tue, 17 Jan 2017 11:49:45 ESThttp://www.baystreet.ca/articles.aspx?id=36696<![CDATA[Trump Brings Uncertainty to Pharmaceutical Industry]]>Tue, 17 Jan 2017 11:34:03 ESThttp://www.baystreet.ca/articles.aspx?id=36695 First, lobbying activities are a cost to the drug industry to gain industry and government support for pharma companies. Second, R&D expenditures are elevated because of strict and sometimes unpredictable decisions from the FDA. If the government allowed for expediting trials, research costs would not be so high.
If Medicare allows for negotiating drug prices, drug companies would need to issue steep discounts. This would favor big generic pharmas, which have the scale to produce in large supply to cut costs. As big pharma gets even bigger, smaller companies wanting to compete would not be able to do so.
Investors may want to turn their focus on Teva and Endo International. Endo is trading near yearly lows as investors worry about the impact the newly elected government may have on generic drug suppliers. If price negotiations with insurers do not result in much of a change, Endo will recover.
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