Baystreet.ca RSS Feed http://www.baystreet.ca/rss/MasterRSS.aspx en-us Copyright (c) 2022 Baystreet.ca Inc. All rights reserved. 1/16/2022 6:13:53 AM <![CDATA[Softchoice Corporation "SECTOR PERFORM"]]>Fri, 14 Jan 2022 11:59:00 ESThttps://www.baystreet.ca/articles/analyst_ratings.aspx?73668<![CDATA[Struggling Dollar Sparks Rise in Gold ]]>Fri, 14 Jan 2022 10:36:00 ESThttps://www.baystreet.ca/articles/commodities.aspx?id=5228Friday, January 14, 2022


Struggling Dollar Sparks Rise in Gold


Gold prices were holding near a more than one-week high as morning grew closer to afternoon on Friday, supported by a retreating U.S. dollar and lower Treasury yields as markets awaited economic data to gauge the pace of upcoming U.S. rate increases.

Spot gold was steady at $1,821.60 U.S. per ounce , after earlier reaching a week’s high of $1,828.92. U.S. gold futures were up 0.1% to $1,822.80.

Bullion has risen by about 1.4% so far this week, the steepest climb since Nov. 12.

Non-yielding bullion is considered an inflationary hedge. It also benefits from dollar weakness that makes it cheaper for holders of other currencies.

Federal Reserve policymakers this week signaled they will start raising U.S. interest rates in March to fight inflation.

Spot silver fell 0.1% to $23.05 U.S. an ounce and was en route to its best week in two months.

Platinum rose 0.9% to $978.01 U.S. and was set to gain this week, while palladium rose 0.2% to $1,891.68 U.S., yet was poised for a weekly drop.

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<![CDATA[Google Buys Billion-Dollar Office Space in London ]]>Fri, 14 Jan 2022 10:03:00 ESThttps://www.baystreet.ca/articles/techinsider.aspx?id=3345Friday, January 14, 2022

Google Buys Billion-Dollar Office Space in London


Google (NASDAQ:GOOGL) has bought a colorful office space in London for $1 billion while it waits for building work on its heavily-delayed U.K. headquarters to be completed.

The internet giant announced Friday that it has acquired all of the Central St. Giles building, where it already occupies a number of floors, in London’s West End.

Google plans to refurbish the office over the next few years, Harris said, adding that there will be collaboration spaces, team pods, and covered outdoor working spaces.

The firm employs 6,400 staff in the U.K. and the company has pledged to create enough U.K. office space for 10,000 in the coming years. Its main hub is in the recently gentrified King’s Cross neighborhood on the northern fringe of the city center, where it has snapped up several offices.

However, its new U.K. headquarters, which sits on a plot behind King’s Cross train station, is still under construction. The 11-storey “groundscraper” has been designed by the prestigious Heatherwick Studios and Bjarke Ingels Group. The plans show a 25-metre swimming pool, a 200-metre rooftop running trail, and a large sports hall with views over London. It will accommodate up to 4,000 Googlers when it’s completed.

However, the development is running several years behind schedule. Google was initially hoping to be in the building by 2016, but a series of setbacks have pushed the move-in date back several years. The initial $1.2-billion U.S. plans drawn up by Allford Hall Monaghan Morris were reportedly scrapped by Google cofounder Larry Page for being “too boring.”

Shares in the search engine sprinted $30.64, or 1.1%, Friday to $2,802.32.

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<![CDATA[Economic Calendar]]>Sun, 16 Jan 2022 06:13:53 ESThttps://www.baystreet.ca/articles/econ_calendar.aspx?id=18125January 2022
 

DATE

STATISTIC FOR CURRENT MONTH PREVIOUS MONTH
Tuesday, January 4, 2022 Markit Canada Manufacturing PMI: 9:30 am Dec The PMI registered at 56.5 in December, down from 57.2 in November. The PMI registered at 57.2 in November, down slightly from 57.7 in October.
Wednesday, January 5, 2022 Building Permits: 8:30am Nov The total value of building permits increased 6.8% to $11.2 billion in November. The total value of building permits increased 1.3% to $10.3 billion in October, led by gains in British Columbia (+15.0%) and Ontario (+4.5%).
Thursday, January 6, 2022 Canadian International Merchandise Trade: 8:30am Nov Total exports increased 3.8%, while imports rose 2.4%. As a result, Canada's merchandise trade surplus widened from $2.3 billion in October to $3.1 billion in November. Canada's merchandise trade surplus widened from $1.4 billion in September to $2.1 billion in October, the largest surplus so far in 2021.
Friday, January 7, 2022 Labour Force Survey: 8:30am Dec Employment rose by 55,000 (+0.3%) in December, while the unemployment rate was little changed at 5.9%. Employment rose by 154,000 (+0.8%) in November and was 186,000 (+1.0%) higher than its pre-COVID February 2020 level.
Friday, January 7, 2022 IVEY Purchasing Managers Index: 10:00am Dec The PMI plummeted to 45 in December, down from 61.2 in November, and lower than the 46.7 figure seen in December 2020. The PMI jumped to 61.2 in November, up from 59.3 in October, and much higher than the 52.7 figure posted in November 2020.
Friday, January 14, 2022 CREAstats - MLS Sales: 8:30am Dec Nationally, home sales activity decreased by 9.9% from year-ago levels in December 2021. National home sales rose 0.6% on a month-over-month basis in November, according to the Canadian Real Estate Association
Monday, January 17, 2022 Canada's International Transactions in Securities: 8:30am Nov --- Foreign investors acquired $23.9 billion of Canadian securities in October, the largest investment since April 2020. At the same time, Canadian investors increased their holdings of foreign securities by $5.4 billion, led by record purchases of non-U.S. foreign bonds.
Monday, January 17, 2022 Monthly Survey of Manufacturing: 8:30am Nov --- Manufacturing sales rose 4.3% in October, on higher sales of motor vehicles and motor vehicle parts. Excluding these two industries, manufacturing sales increased 1.7%.
Tuesday, January 18, 2022 Housing Starts: 8:15am Dec --- The seasonally adjusted annualized rate of housing starts rose to 301,279 units in November, beating analyst expectations of 234,300 starts and up from a revised 238,366 units in October.
Wednesday, January 19, 2022 Wholesale Trade: 8:30am Nov --- Wholesale sales grew 1.4% in October to the highest level on record, 11.4% higher than in February 2020.
Wednesday, January 19, 2022 Consumer Price Index: 8:30am Dec --- Canada's annual inflation rate remained at 4.7% in November, an 18-year high, amid the continued impact of supply chain disruptions, Statistics Canada said on Wednesday.
Friday, January 21, 2022 Retail Trade: 8:30am Nov --- Retail sales were up 1.6% to $57.6 billion in October.
Friday, January 21, 2022 New Housing Price Index: 8:30am Dec --- Canadian home prices continue to rise in November 2021 with the average home price now at $720,850. That's a 19.6% year-over-year increase from November 2020.
Wednesday, January 26, 2022 BoC Interest Rate Decision: 10:00am Jan --- The Bank of Canada today held its target for the overnight rate at the effective lower bound of 0.25%, with the Bank Rate at 0.5%
Thursday, January 27, 2022 Payroll Employment, Earnings and Hours: 8:30am Nov --- Payroll employment rose by 131,700 (+0.8%) in October, bringing it to within 0.6 percentage points of its pre-pandemic February 2020 level.
Monday, January 31, 2022 Industrial Product Price Index: 8:30am Dec --- The index increased 0.8% month over month in November and 18.1% year over year.
Monday, January 31, 2022 Raw Materials Price Index: 8:30am Dec --- The index fell 1.0% month over month in November, and were up 36.2% year over year.
Tuesday, February 1, 2022 GDP: 8:30am Nov --- Real gross domestic product rose 0.8% in October on broad-based increases across sectors.
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<![CDATA[U.S. Won’t Ban Canadian Beef Despite Mad Cow Infection]]>Fri, 14 Jan 2022 10:32:00 ESThttps://www.baystreet.ca/articles/economiccommentary.aspx?id=3477U.S. Won’t Ban Canadian Beef Despite Mad Cow Infection


The United States said it will not suspend beef imports from Canada following the discovery of mad cow disease on an Alberta farm.

The U.S. Department of Agriculture said there is a simple reason behind its decision: “Atypical BSE (mad cow disease) does not pose a risk to other cattle.”

The news comes as a relief to Canada’s beef producers as the U.S. is the largest export market for Canadian beef products. According to the Canadian Cattlemen’s Association, the U.S. accounts for 72% of Canadian Beef exports, followed by Japan at 11% and China at 6.6%.

On December 17, a case of mad cow disease was found in Alberta, prompting the Canadian Food Inspection Agency (CFIA) to notify the World Organization for Animal Health (OIE).

On January 6, three countries - China, the Philippines and South Korea – suspended imports of Canadian beef or requested that Canada not certify exports for their markets due to the detection of mad cow disease, according to Agriculture and Agri-foods Canada.

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<![CDATA[Asia Down as Japan, Korea Lead Losses]]>Fri, 14 Jan 2022 08:20:00 ESThttps://www.baystreet.ca/articles/foreignmarketwrap.aspx?id=3839Friday, January 14, 2022

Asia Down as Japan, Korea Lead Losses


Stocks in Japan and South Korea led losses in major Asia-Pacific markets on Friday as the recent rally in U.S. stocks broke momentum with the NASDAQ snapping a three-day winning streak.

In Japan, the Nikkei 225 plunged 364.85 points, or 1.3%, to 28,124.28.

Autos and tech stocks declined. SoftBank was down 1.2%, while Sony lost nearly 2%.

The Japanese yen traded at 113.81 per U.S. dollar, strengthening markedly from levels above 114.

The Hang Seng index in Hong Kong dipped 46.45 points, or 0.2%, to 24,387.32, as Alibaba declined 2.5% and JD fell 2.9%.

Meanwhile, South Korea’s central bank raised its benchmark rate by 25 basis points to 1.25%, the highest since March 2020 and back to the rate it was at before the pandemic.

In corporate news in the region, Citi is set to sell its retail businesses in four Southeast Asian countries — Indonesia, Malaysia, Thailand and Vietnam — to Singapore lender United Overseas Bank (UOB). UOB said Citi’s consumer business had a total net asset value of about $4 billion Singapore dollars ($2.9 billion U.S.).

The cash offer for the proposed acquisition will be calculated based on an aggregate premium equivalent to $915 million Singapore dollars, plus the net asset value of Citi’s consumer business.

The Australian dollar was at $0.7280, strengthening slightly.

CHINA

In China, the CSI 300 dropped 39.13 points, or 0.8%, to 4,726.73.

China’s exports grew slightly more than expected in December, while imports rose less than expected, according to customs data released Friday.

Exports rose by 20.9% year-on-year in U.S. dollar-terms, above the 20% increase forecast by a Reuters poll. Imports grew by 19.5% in U.S. dollar-terms, missing expectations of a 26.3% increase.

Overall, in 2021, total exports rose 29.9%, compared to a 3.6% gain in 2020. Imports jumped 30.1% in 2021, after dropping 1.1% in 2020

In other markets

In Korea, the Kospi index slipped 40.17 points, or 1.4%, to 2,921.92.

In Taiwan, the Taiex index let go of 33.6 points, or 0.2%, to 18,403.33

In Singapore, the Straits Times Index moved higher 24.67 points, or 0.8%, to 3,281.97.

In New Zealand, the NZX 50 dropped 36.83 points, or 0.3%, to 12,790.16.

In Australia, the ASX 200 fell 80.5 points, or 1.1%, at 7,393.86

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<![CDATA[U.S. Dollar Weakens As Interest Rate Hikes Approach]]>Fri, 14 Jan 2022 10:42:00 ESThttps://www.baystreet.ca/articles/globalmarkets.aspx?id=3103The U.S. dollar is falling for a fourth consecutive day to its lowest level in more than two months as investors move out of the currency ahead of expected interest rate hikes by the U.S. Federal Reserve.

The greenback slipped 0.2% to 94.62 against a basket of currencies in early morning trading, its lowest level since early November last year. On a weekly basis, the U.S. dollar is set to weaken 1.11%, its biggest drop since December 2020. Yesterday (January 13), it fell below a 100-day moving average for the first time since June 2021.

Inflation-adjusted 10-year U.S. yields are up 40 basis points from the start of the year, threatening to undermine a stock market rally and weigh on economic prospects.

Against its rivals, the U.S. dollar's losses were most pronounced versus the Japanese yen and the Chinese yuan, against which it declined 0.4% and 0.3% respectively.

The euro currency is up more than 1% this week and has moved out of a range it has held since late November, hitting its highest peak since November 11 at $1.1483.

The U.S. dollar is now trading at 1.25056 per Canadian dollar.

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<![CDATA[TSXV New Listings]]>Wed, 06 Jan 2021 06:48:00 ESThttps://www.baystreet.ca/articles/ipo_tsx.aspx?id=10023 Company Name Ticker Date Skylight Health Group Inc. SHG 06-01-2021 HAW Capital 2 Corp. HAW.P 08-01-2021 Summa Silver Corp. SSVR 11-01-2021 Compass Venture Inc. CVI.P 21-01-2021 Railtown Capital Corp RLT.P 28-01-2021 Topicus.com Inc. TOI 01-02-2021 Leviathan Gold Ltd. LVX 10-02-2021 Aumento Capital VIII Corp. AMU.P 17-02-2021 Jesmond Capital Ltd. JES.P 18-02-2021 Jesmond Capital Ltd. JES.P 19-02-2021 Star Royalties Ltd. STRR 19-02-2021 Gravitas One Capital Corp. GONE.P 22-02-2021 County Capital 2 Ltd. CTWO.P 23-02-2021 Four Arrows Capital Corp. AROW.P 25-02-2021 Zacatecas Silver Corp. ZAC 02-03-2021 Avalon Works Corp. AWB 03-03-2021 SPC Nickel Corp. SPC 08-03-2021 Mednow Inc. MNOW 08-03-2021 AF2 Capital Corp. AF.P 15-03-2021 The Very Good Food Company Inc. VERY 17-03-2021 Mayfair Gold Corp. MFG 22-03-2021 Starlight U.S. Multi-Family (No.2) Core Plus Fund SCPT.A 31-03-2021 Apolo IV Acquisition Corp. AIV.P 01-04-2021 Great Bear Royalties Corp. GBRR 05-04-2021 POCML 6 Inc. POCC.P 06-04-2021 Cannara Biotech Inc. LOVE 08-04-2021 Anacott Acquisition Corporation AAC.P 13-04-2021 Rider 2 Investment Capital Corp. RIDR.P 14-04-2021 New Target Mining Corp. NEW 15-04-2021 Just Kitchen Holdings Corp. JK 15-04-2021 Sierra Madre Gold and Silver Ltd. SM 19-04-2021 Germinate Capital Ltd. GCAP.P 20-04-2021 Nobel29 Resources Corp NBLC 20-04-2021 Goldplay Mining Inc. AUC 21-04-2021 Pivotal Financial Corp. PIV.P 23-04-2021 SRHI Inc. SRHI 27-04-2021 K.B. Recycling Industries Ltd. AKMY 28-04-2021 Monumental Gold Corp. MGLD 30-04-2021 AIM6 Ventures Inc. AIMF.P 30-04-2021 Momentous Capital Corp. MCC.P 03-05-2021 American Eagle Gold Corp. AE 03-05-2021 Evolve FANGMA Index ETF TECH 05-05-2021 Millennial Precious Metals Corp. MPM 05-05-2021 Mercury Acquisitions Corp. MERC.P 11-05-2021 Cedarmont Capital Corp. CCCA.P 13-05-2021 Dash Capital Corp. DCX.P 14-05-2021 Good2GoRTO Corp. GRTO.P 17-05-2021 Imperial Helium Corp. IHC 21-05-2021 Veteran Capital Corp. VCC.P 27-05-2021 Samurai Capital Corp. SSS.P 27-05-2021 TUP Capital Inc. TUP.P 31-05-2021 Rise Capital Corp. RSE.P 01-06-2021 Rex Resources Corp. OWN 02-06-2021 Aumento Capital IX Corp. AUIX.P 03-06-2021 General Assembly Holdings Limited GA 03-06-2021 Just Energy Group Inc. JE 04-06-2021 Kovo HealthTech Corporation KOVO 04-06-2021 Aardvark Capital Corp. ACCA.P 07-06-2021 Brachium2 Capital Corp. BRCB.P 08-06-2021 Tier One Silver Inc. TSLV 09-06-2021 Badger Capital Corp. ECCT.P 14-06-2021 ECC Ventures 3 Corp. YVR.P 14-06-2021 Sleeping Giant Capital Corp. SSX.P 15-06-2021 ECC Ventures 4 Corp. ECCF.P 15-06-2021 Column Capital Corp. CPC.P 15-06-2021 Fairchild Gold Corp. FAIR 16-06-2021 Magen Ventures I Inc. MAGN/P 17-06-2021 Cielo Waste Solutions Corp. CMC 24-06-2021 Gravitas II Capital Corp. GII.P 29-06-2021 Toronto CleanTech Capital Inc. YAY.P 30-06-2021 Meed Growth Corp. MEED.P 30-06-2021 Cranstown Capital Corp CRAN.P 08-07-2021 First Helium Inc. HELI 13-07-2021 Northstar Clean Technologies Inc. ROOF 13-07-2021 Fife Capital Corp. FFC.P 15-07-2021 Michichi Capital Corp. MCCP.P 15-07-2021 Miza III Ventures Inc. MIZA.P 19-07-2021 Sayward Capital Corp. SAWC.P 19-07-2021 Bigstack Opportunities I Inc. STAK.P 23-07-2021 Whatcom Capital II Corp WAT.P 27-07-2021 Evergen Infrastructure Corp. EVGN 30-07-2021 Antera Ventures II Corp. AVII.P 04-08-2021 Hopefield Ventures Inc. HVI.P 05-08-2021 Rockport Capital Corp. R.P 10-08-2021 Saasquatch Capital Corp. SAAS.P 11-08-2021 Gotham Resource Corp. GHM.P 16-08-2021 AADirection Capital Corp. AAD.P 17-08-2021 J4 Ventures Inc. JJJJ.P 20-08-2021 A-Labs Capital V Corp. ALBA.P 24-08-2021 DGL Investments No.1 Inc DGL.P 26-08-2021 First Tidal Acquisition Corp. AAA.P 26-08-2021 Greenfield Acquisition Corp. GAC.P 26-08-2021 Yubba Capital Corp. YUB.P 26-08-2021 Millbank Mining Corp. MILL 27-08-2021 Minehub Technologies Inc. MHUB 07-09-2021 Atacama Copper Corporation ACOP 07-09-2021 Endurance Capital Corp. ECAP.P 09-09-2021 Alpine Summit Energy Partners Inc. ALPS.U 13-09-2021 ESG Capital 1 Inc. ESGO.P 15-09-2021 Vizsla Copper Corp. VCU 17-09-2021 Aneesh Capital Corp. EESH.P 29-09-2021 Mink Ventures Corporation MINK.P 29-09-2021 Genius Metals Inc. GENI 30-09-2021 Benz Capital Corp. BCC.P 04-10-2021 Orcus Resources Ltd. ORCS.P 05-10-2021 Little Fish Acquisition I Corp. LILL.P 06-10-2021 Bastion Square Partners Inc. BASQ.P 12-10-2021 Ankh Capital Inc. ANKH.P 15-10-2021 Whitewater Acquisition Corp. WWA.P 20-10-2021 Smithe Resources Corp. SMTH.P 21-10-2021 The Well Told Company Inc. WLCO 25-10-2021 Treviso Capital Corp. TRV.P 27-10-2021 Good2Go4 Corp. GFOR.P 27-10-2021 Deal Pro Capital Corp. DPCC.P 28-10-2021 Orosur Mining Inc. OMI 01-11-2021 Alpha Exploration Ltd. ALEX 01-11-2021 XORTX Therapeutics Inc. XRTX 04-11-2021 Iocaste Ventures Inc. ICY.P 10-11-2021 The Planting Hope Company Inc. MYLK 11-11-2021 Total Helium Ltd. TOH 11-11-2021 Trail Blazer Capital Corp. TBLZ.P 12-11-2021 Starlight U.S. Residential Fund SURF.A 15-11-2021 Western Alaska Minerals Corp. WAM 15-11-2021 Woodbridge Ventures II Inc. WOOD.P 16-11-2021 Shellron Capital Ltd. SHLL.P 22-11-2021 Burin Gold Corp. BURG 22-11-2021 Monarch West Ventures Inc. MONA.P 23-11-2021 Audrey Capital Corporation AUD.P 26-11-2021 Minto Metals Corp. MNTO 29-11-2021 Wellfield Technologies Inc. WFLD 01-12-2021 PC 1 Corp. PCAA.P 02-12-2021 EV Nickel Inc. EVNI 03-12-2021 Taura Gold Inc. TORA 07-12-2021 Roshni Capital Inc. ROSH.P 08-12-2021 Rumbu Holdings Ltd. RMB.P 10-12-2021 Fountainhall Capital Corp. FUN.P 14-12-2021 ECC Ventures 5 Corp. ECCV.P 16-12-2021 ECC Ventures 6 Corp. ECCS.P 17-12-2021 Wittering Capital Corp. WITT.P 20-12-2021 Gold Basin Resources Corporation GXX 20-12-2021 New Media Capital 2.0 Inc. NEME.P 21-12-2021 Rupert's Crossing Capital Inc. RUCC.P 23-12-2021 Fairplay Ventures Inc. FPY.P 23-12-2021 Harmony Acquisitions Corp. MONY.P 24-12-2021 Hot Chili Limited HCH 04-01-2022 Outback Goldfields Corp. OZ 06-01-2022]]><![CDATA[TSX Upward on Day, Week]]>Fri, 14 Jan 2022 04:27:00 ESThttps://www.baystreet.ca/articles/marketupdates.aspx?id=10882Friday, January 14, 2022

16:27 PM EST
TSX Upward on Day, Week

MEG, Shopify in Focus




It was a suspenseful Friday on markets, with Canadian investors acting hot and cold toward their holdings, but eventually, sending indexes in Toronto higher before Friday’s closing bell, energy being the chief agent of this growth.

The S&P/TSX Composite regained 64.6 points to close Friday at 21,357.56, boasting gains for the week of 273 points, or 1.3%.

The Canadian dollar stumbled 0.27 cents to 79.67 cents U.S.

Energy stocks improved MEG Energy jumping 93 cents, or 7%, to $14.32, while Vermilion Energy climbed $1.03, or 5.5%, to $19.93.

Tech stocks also succeeded, with Shopify skyward by $46.24, or 3.5%, to $1,379.30, while Hut 8 Mining leaping 27 cents, or 3.4%, to $8.32.

In communications, Quebecor surged 38 cents, or 1.3%, to $#0.68, while Corus Entertainment acquired four cents to $5.31.

Real-estate interests fell flat, with FirstService wilting $5.75, or 2.7%, to $207.40, while Granite REIT dwindled $2.58, or 2.6%, to $98.26.

In consumer discretionary stocks, Sleep Country dozed off 81 cents, or 2.1%, to $38.67, while Gildan Activewear fell 92 cents, or 1.8%, to $51.30.

In consumer staples, Jamieson Wellness faltered $1.21, or 3.2%, to $36.09, while Primo Water descended 29 cents, or 1.3%, to $21.56.

On the economic front, national home sales activity decreased by 9.9% from year-ago levels in December, according to figures released Friday by the Canadian Real Estate Association.

The International Energy Agency says Canada, the world's fourth-largest oil producer, can be a key global supplier for years to come providing it sticks to promises to sharply cut emissions.

ON BAYSTREET

The TSX Venture Exchange sank 4.23 points to 902.81. On the week, the decrease totaled 8.7 points, or 0.95%.

Seven of the 12 TSX subgroups were lower, as real-estate doffed 1.3%,, consumer discretionary stocks handed back 0.7%, and consumer staples bowed 0.6%.

The five gainers were led by energy, up 3.1%, and while information technology strengthened 0.6%, and communications advanced 0.4%.

ON WALLSTREET

Major bank stocks declined after their earnings reports on Friday, weighing on the U.S. markets as Wall Street notched a second straight negative week to start the year.

The Dow Jones Industrials plummeted 201.81 points to 35,911.81, for a weekly loss of 320 points, or 0.9%.

The S&P 500 nicked ahead 3.82 points Friday to 4,662.85, but lost 14 points on the week.

The NASDAQ Composite moved into positive ranks 86.94 points on the day to 14,893.75, but surrendered 42 points on the week.

U.S. markets will be closed Monday for Martin Luther King Day.

Bank stocks, which had outperformed in recent weeks as interest rates moved higher, were broadly lower as their reports appeared to underwhelm investors despite strong headline numbers.

JPMorgan Chase, the number-one U.S. bank by assets, showed profit and revenue that topped estimates, but shares fell more than 6%. The company’s earnings were helped by a large credit reserve release, and CFO Jeremy Barnum warned that the company would likely miss a key profit target in the next two years.

Citigroup’s stock fell 1.3% after the bank beat revenue estimates but showed a 26% decline in profits. Shares of Morgan Stanley and Goldman Sachs, which report next week, also declined.

Meanwhile, shares of Wells Fargo added 3.7% after the bank’s revenue topped expectations. CEO Charles Scharf said in a release that loan demand picked up in the second half of the year.

Shares of Netflix jumped more than 1% after announcing a price increase for U.S. and Canadian subscribers, helping the NASDAQ outperform on Friday.

Casino stocks were another bright spot on Friday after Macau’s government announced it would allow just six casino licenses in the gambling hub. Las Vegas Sands surged 14%, while Wynn Resorts gained 8.6%. Oil stocks also outperformed as crude prices rose.

Consumer discretionary stocks were under pressure after the report, with Bath & Body Works and Under Armour falling more than 2%.
Shares of Peloton fell 2.6% after Nasdaq announced that the stock would be dropped from the NASDAQ index.

Elsewhere, shares of paint maker Sherwin-Williams lost 2.8% after the company warned that fourth-quarter earnings would miss estimates, citing issues in sourcing materials and staffing during the omicron surge. Money-management behemoth BlackRock posted earnings that beat on bottom-line earnings but missed slightly on top-line revenue. Shares fell 2.2%.

On the data front, retail sales were down 1.9% in December, a worse reading than the 0.1% drop expected by economists surveyed by Dow Jones. Industrial production also disappointed, declining 0.1% compared to a projected 0.2% gain.

Retail stocks were under pressure after the report, with Bath & Body Works falling more than 3%.

In other data news, business inventories for November came in higher than expected, but January’s consumer sentiment reading from the University of Michigan came in lower than expected.

Prices for 10-year Treasurys faded sharply, raising yields to 1.79% from Thursday’s 1.70%. Treasury prices and yields move in opposite directions.

Oil prices jumped $2.14 to $84.26 U.S. a barrel.

Gold prices fell $4.70 to $1,816.70 U.S. an ounce.





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<![CDATA[Stocks in Play: Sprout AI ]]>Fri, 14 Jan 2022 12:59:29 ESThttps://www.baystreet.ca/articles/stocksinplay.aspx?id=34886Friday, January 14, 2022

12:59 PM EST - Sprout AI : Announced it has qualified for trading on the OTCQB Venture Market in the United States operated by the OTC Markets Group Inc. and that the Company's common shares commenced trading today on the OTCQB under the symbol "BYFMF". U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the Company on www.otcmarkets.com. The Company's common shares will continue to trade on the Canadian Stock Exchange under the symbol "BYFM". Sprout AI (C.BYFM) shares were unchanged at 0.01.

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<![CDATA[JPMorgan Chase Profit Beats Estimates On Investment Banking Boost]]>Fri, 14 Jan 2022 10:37:00 ESThttps://www.baystreet.ca/articles/stockstowatch.aspx?id=12058Friday, January 14, 2022

JPMorgan Chase Profit Beats Estimates On Investment Banking Boost


JPMorgan Chase (JPM) posted profit that exceeded analysts’ expectations on better-than-expected credit losses and as loan growth accelerated.

The largest U.S. lender, whose results are often seen as a barometer of the health of the American economy, posted a profit of $10.4 billion U.S., or $3.33 U.S. per share, in the fourth quarter ended December 31, compared with $12.1 billion U.S., or $3.79 U.S. per share, a year earlier.

Analysts on average had expected earnings of $3.01 U.S. per share, according to Refinitiv data.

A trading shortfall at JPMorgan was cushioned by another strong quarter for its investment bank as global mergers and acquisitions activity shattered all-time records in 2021.

Wall Street banking remained strong for most of the past year, as large, cash-flush companies embarked on a dealmaking spree, helping drive up investment banking fees to their highest level on record.

Large U.S. banks have benefited from higher consumer spending, while their trading arms gained from exceptional volatility in financial markets last year. However, soaring inflation and a potential Omicron-induced economic slowdown are set to challenge profit growth in the coming months.

Other large U.S. banks including Citigroup (C) and Wells Fargo (WFC) also report results today (January 14). Goldman Sachs (GS), Wall Street's premier investment bank, reports Q4 earnings on January 18, while Morgan Stanley (MS) and Bank of America (BAC) round out the big bank earnings season on January 19.

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<![CDATA[USD/CAD - Canadian Dollar Awaiting US Data]]>Fri, 14 Jan 2022 01:08:00 ESThttps://www.baystreet.ca/articles/forex_trader.aspx?id=73705- Equity traders are spooked, Wall Street poised to open in negative territory
- US dollar opens firm on safe-haven demand

USDCAD Snapshot: Open 1.2480-84, Overnight Range-1.2468-1.2508, previous close 1.2508, WTI open
$83.07, Gold open $1823.58

The Canadian dollar failed to decisively break major resistance yesterday, and it is trading defensively in
NY. The Canadian dollar rallied along with the other commodity currencies yesterday when traders
appeared to be unconcerned about the prospect of higher USD interest rates.

A bit of weaker than expected US data and fresh selling pressures on Wall Street turned the Canadian
dollar rally into a rout. USDCAD climbed and closed at to 1.2520. The overnight session was choppy.
USDCAD dropped to 1.2472 in early European trading than bounced to 1.2516 in NY.

Canadian dollar losses are slightly insulated by firm oil prices. West Texas Intermediate climbed to
$83.26/barrel overnight, underpinned by forecasts for rising demand and prices, as well as lower US
crude inventories.

Global equity markets fell in tandem with Wall Street’s negative close. Japan’s Nikkei 225 lost 1.26%
with the move exacerbated by reports the Bank of Japan was discussing raising interest rates. Chinese
and Australian indexes dropped as well.

European equities are in the red, with the UK FTSE 100 index outperforming. It has only dropped 0.30%
thanks to robust UK data, compared to a 1.0% fall in Germany’s DAX index.

China’s trade surplus ballooned to $94.46 billion in December, compared to November’s $71.72 result.
Imports rose 19.5% y/y, (previous 31.7%), while Exports rose 20.9% y/y (previous 22% y/y). the monthly
data was mixed but the year over year trade surplus of $676.0 billion is a record.

EURUSD retreated from an overnight peak of 1.1482 to 1.1443 in early NY. The Euro area reported a
surprise trade deficit which may have weighed on sentiment. However, traders are more focused on
what today’s US Retail Sales data will mean for equities and interest rates.

GBPUSD is at the bottom of its overnight 1.3707-1.3742 range. Gains from better than expected UK
data including November GDP (actual 0.9% m/m vs forecast 0.4% m/m), Industrial production (actual
1.0% m/m vs forecast 0.2%) and Manufacturing Production rising 1.1% have faded into the USD data
dump.

US Retail Sales (forecast 0.0% m/m in December) and Michigan Consumer Confidence (forecast 70 vs
previous 70.6)]]>
<![CDATA[Citigroup Vaults On Beating Quarterly Projections]]>Thu, 12 Oct 2017 10:07:02 ESThttp://www.baystreet.ca/articles.aspx?id=38460Earnings per Share came in for the quarter at $1.42, as opposed to $1.32 expected by experts. Revenue was $18.173 billion versus $17.896 billion expected. Fixed income trading: $2.877 billion versus a projected $2.84 billion

Said CEO Michael Corbat, "We had revenue increases in many of the products we have been investing in, tightly managed our expenses, and again saw loan growth in both our consumer and institutional businesses.”

Citi reported a 3% year-over-year increase in global consumer banking revenue. In North America, retail banking revenue rose 12%, excluding mortgages. Citi cited "continued growth in loans and assets under management," as well as higher interest rates.

The bank's international consumer business saw an 8% revenue increase, driven by higher loans and deposit volumes growth.

Citi's end-of-period loans, meanwhile, rose 2% to $653 billion, while deposits increased by 3% to $964 billion.

Shares of Citigroup have risen 26% this year, easily outperforming the broader market. The S&P 500 has gained 14% in 2017.

Citigroup's stock has also outperformed those of other big banks. Shares of JPMorgan Chase and Bank of America are up 11.9% and 16.9%,, respectively.

Folks who follow macroeconomic developments are also aware that Citigroup could benefit from tighter monetary policy in the near future. The U.S. Federal Reserve signaled a December rate hike in the summary of its Sept. 20 meeting.
Shares in C opened Thursday took on 31 cents to $75.25. ]]>
<![CDATA[Enterprise Group’s Hart Oilfield Rentals: Custom, Cost-Effective Infrastructure]]>Thu, 12 Oct 2017 09:51:46 ESThttp://www.baystreet.ca/articles.aspx?id=38459


Simply, if you are building a mining or oil business Hart rents customized equipment for project sites, drilling & completions and facilities that require mobile infrastructure.

It makes zero sense to expend valuable capital to purchase generators, offices, WC’s etc. As well, each project is different so flexibility, customization and ease of transport is key.



“Our large competitive advantage is the ability to what we refer to as ‘combo technology,” states Joel Bardwell, Senior Manager at Hart. “Whether on a skid or one of our proprietary portable trailers, we can deliver not only the equipment required, but customize it to be the most cost effective. Customers appreciate the approach and with our ongoing R&D and patent/patent pending profile, both served us well during the downturn and positions us well for the rapidly increasing business, both from previous and new clients.”

Hart currently has 6 locations that are strategically located throughout west central and northern Alberta and northeastern British Columbia. These 6 locations have allowed Hart to establish 6 complimentary “service circles” that slightly overlap and allow Hart to deliver oilfield site set-up services and equipment rentals efficiently to its customers as well as respond quickly to requests for service or repairs to its equipment when required.

Early on, Hart realized that the uniqueness of its approach warranted patent filings for equipment as well as industrial designs. With approximately 25 equally divided between Canada and the US, the practice both cements Hart’s reputation as an innovator as well as protect the Company and Enterprise shareholders from interlopers.

There are always interlopers.



It should also be noted that Hart does not sell the custom equipment. Hart is constantly developing equipment to add to its robust and state of the art rental pool: And all with
safety the primary consideration.

Just as with all the Enterprise Group’s subsidiaries, attention to detail is a given. Reactive and proactive to customer needs is what cuts it out of what is already a small herd. Whether resource, municipal needs, pipelines or any other infrastructure pursuit, that word - infrastructure - should be reflected to a greater or lesser degree in every portfolio. US peers are hitting new highs and others, such as Enterprise’s share price is being wrongly assaulted by a volatile oil price.

The bottom line is that over the years Enterprise has made savvy, money making purchases and sales. TC Backhoe sold in 2016 for approximately C$20 million. The Company was purchased in 2007 for C$12 million and under the Enterprise umbrella generated $150 million. The sale was done during the recent downturn, but had been planned previously and drastically lowered and improved the Company’s financials.

Having successfully steered through a blistering downturn, which seems to have unfairly punish a stock that has a breakup of C$0.85 but is trading at C$0.30, it seems a good addition to a junior portfolio.

Investors will also note that as the Company is traded on the TSX that adds to a list of bonafides to Enterprise that investors would be wise to take stock.



Legal Disclaimer/Disclosure: This document is not and should not be construed as an offer to sell or the solicitation of an offer to purchase or subscribe for any investment. No information in this Report should be construed as individualized investment advice. A licensed financial advisor should be consulted prior to making any investment decision. We make no guarantee, representation or warranty and accept no responsibility or liability as to its accuracy or completeness. Baystreet.ca assumes no warranty, liability or guarantee for the current relevance, correctness or completeness of any information provided within this Report and will not be held liable for the consequence of reliance upon any opinion or statement contained herein or any omission. Baystreet.ca has been compensated ten thousand dollars for its efforts in distributing the TSX:E profile on its web site and distributing it to its database of subscribers. Furthermore, we assume no liability for any direct or indirect loss or damage or, in particular, for lost profit, which you may incur as a result of the use and existence of the information, provided within this Report. ]]>
<![CDATA[WADA Lifts CBD Ban for Professional Athletes and their Doctors]]>Thu, 12 Oct 2017 08:02:09 ESThttp://www.baystreet.ca/articles.aspx?id=38458
The World Anti-Doping Agency (WADA) just removed hemp-derived cannabidiol (CBD) from its 2018 List of Prohibited Substances, freeing up athletes in the largest international athletic associations in the world like the IOC and FIFA as well as major sports leagues like UFC, NCAA, NFL, NBA, NHL, MLB, and many more to use CBD-infused products as to treat pain and inflammation based disorders.

As WADA is a global governing body, now athletes around the world can use CBD to treat pain, inflammation and injuries, without the risk of league suspension or a loss of sponsors. Professional athletes around the world can now use Phivida’s CBD infused functional foods and natural health brands, free from WADA restrictions, for the first time in the history of competitive sports.

Cannabinoids have just got mainstream, starting with the major leagues. But it’s investors, and CBD-infused infused functional foods and natural health products brands that stand to benefit the most.

According to Allied Research, the global anti-Inflammatory therapeutics market is projected to top $106 Billion USD by 2020, dominated by OTC drugs like Ibuprofen ($14.2 billion USD by 2022). The US opiate drug as an additional $17.7 billion USD by 2021 dominated by Oxycontin, Percocet and Vicodin. Both the NSAIDs and opiate markets are dominated by pain and inflammation pharmaceutical mogul Bayer (BAYN.DE), with a market capital of over $96 billion.

Cannabidiol is widely studied as a powerful anti-inflammatory and was even part of a US Department of Health patent application for anti-oxidant and neuroprotectant properties.

RISING DEMAND FOR CBD-INFUSED PRODUCTS

Timing the market is vital for maximizing investment returns. There is no better example of fortunate timing than WADA’s announcement coinciding with the launch of Phivida Holdings Inc.’s CBD-infused functional foods and natural health products, and the filing of prospectus for an initial public offering and an application to list its class A shares on the Canadian Securities Exchange (CSE).

As a premiere CBD brand, Phivida is perfectly positioned to capture a leadership market share in this emerging global natural health products market. The Phivida IPO offers investors with exposure to three major growth trends within a global health and wellness $1 Trillion USD in 2017.

Bloomberg predicts US cannabinoid products as a $50 billion USD market by 2020. Within the cannabinoids market, Phivida has created its own unique products category – functional CBD edibles.

High Times magazine produces a top ten edibles list and this year six of them were cannabinoid infused beverages. Phivida specializes in the CBD beverages avoiding a saturated confectionary soft drinks market with functional CBD iced teas, CBD protein shakes and CBD vitamin juices.

Health care practitioners, and now sports medicine professionals, and major nutraceutical distributors cite the paradigm shift from chemical based pharmaceuticals to phytonutraceuticals.

Supplements as a whole market is exploding, having gone from a $37 billion US estimate in 2015, to an expectation of $220 billion globally by 2022.

Nutrition Business Journal cites the two fastest growing categories as; meal replacements (14.8%) and sports nutrition (11.6%), two flagship CBD product lines at Phivida – both infused with a high dose of cannabidiol. Phivida’s nanoencapsulation technology loads CBD into a protective, hydrophilic, liposomal membrane that bonds better with cells. The result is a faster acting longer lasting absorption rates, with up to 400% more bioavailability and a timed release for enhanced duration in the bloodstream, and solubility.

Functional foods have surpassed traditional food topping a $100 billion USD back in 2015. The functional food industry is in the process of a massive consolidation as over $10 billion USD of new M&A deals were completed in 2016 alone.

Major food companies are acquiring new organic and functional food brands at a staggering rate, lead by multi-national conglomerates such as Hains Celestial (NASDAQ: HAIN), PepsiCo (NYSE:PEP) and General Mills (NYSE:GIS).

It’s no wonder that major retailers in both the grocery sector, and the nutritional supplements space are champing at the bit to grow their selection of products for consumers.

WADA’s prohibition lift may be the catalyst needed for supplement giant GNC Holdings Inc. (NYSE:GNC) to get its year back on track. Having fallen from over $20 to just over $8 within the year, the ability to introduce new lines of nutritional supplements with pain relieving qualities could be a shot in the arm for GNC.

Whereas major grocery and pharmacy chains, such as Canadian retail giant Loblaw Companies Inc. (TSX:L)(OTC:LBLCF), which owns the well-established Shoppers Drug Mart chain. Unlike GNC, which to-date has been reluctant to carry CBD products in-store, Shoppers Drug Mart has been very open about its willingness to carry CBD and marijuana-related products on its shelves.

It’s still to be determined when and if that same level of acceptance will be seen on the US side of the border. GNC currently doesn’t carry any CBD-infused products, selling only hemp proteins as a remotely close cousin. Nor is CVS Health Corporation (NYSE:CVS), yet.

Online mega-retailer Amazon.com Inc. (NASDAQ:AMZN) is already selling CBD products. On track to hit the very first $1 trillion valuation, Amazon is ahead of the curve on the blossoming CBD sector.

Whole Foods CEO John Mackey stated he would support cannabinoid products sold in Wholefoods “if only the plant was legal to use and the local community approved.”

Not only is CBD-Hemp Oil extract legal under the Farm Bill, but WADA’s new rules has the potential for a massive demand from professional athletes, sports medicine practitioners and alternative health care practitioners and the everyday active health conscious consumer. It looks like John might get his wish.

Plant-based supplements like CBD are no longer limited to the estimated 17,500 licensed alternative health care practitioners, as majority of supplements are now sold through big box FCMD (food, club, mass and drug) retail locations.

Walgreens, CVS and Walmart combined for a total of 27,087 on-site pharmacists at 15,208 stores across the United States. With Amazon’s acquisition of Wholefoods earlier this year, it’s clear that the majors are looking to capitalize on the health-conscious consumer.

Now it’s a matter of CBD’s true market infiltration to take hold, and for producers to begin stocking only the best CBD infused FFNHP formulations.

Primed and ready to supply these retailers with timely product, Phivida boasts an entire line of CBD functional foods and natural health products, doctor formulated for enhanced athletic performance and everyday preventative health for active families.

INDUSTRY AND ORGANIC ADVANTAGE

Totally legal, and boasting a laundry list of health benefits, cannabidiol (CBD) is making waves through the food and beverage industry in the form of several new products.

So it’s no wonder that any new producer of CBD products will want to seek out the expertise of those already familiar with the food and beverage industry.

Assembling an impressive array of talent, Phivida’s management team is built to master not only its formulation, but also its branding and retail distribution.

Among the names on the company’s deck are Directors Bill Ciprick and James Bailey, who each come with decades of branding and distribution experience for industry heavy-hitters, such as Proctor and Gamble Health Care, and Red Bull Canada.

But for the consumer, the most important aspect to consider beyond retail availability is that of the product’s organic, whole-plant blends and formulations.

Phivida infuses full-spectrum CBD Hemp Oil extracts into special blends of functional foods and natural health products (FFNHP). All nanoencapsulated CBD used in Phivida’s products is hemp-derived from licensed hemp farms and federally legal and eligible for sale in any retail channel.

The company’s CBD-infused functional beverages are nanoencapsulated for enhanced bioavailability, and doctor-formulated for targeted outcomes. Phivida boasts quality-, and safety-tested products that are cGMP manufactured to the highest quality assurance standards.

Phivida CBD Vitamin Drinks use certified organic and plant-based ingredients. Phivida’s CBD infusions are also vegan, gluten- and soy-free with no sugar added and contain at least 35% RDA of Vitamin B complex and Vitamin C.

Other key sports performance ingredients include premium electrolyte replacements, glutamine for muscle, bone and joint repair, resveratrol for added anti-oxidants, blended in an all-natural fruit and vegetable puree with no artificial colours or flavours added.

Former President of the BC College of Naturopaths, Dr. Brian Martin, states; “Phivida offers legal, clinical grade, CBD, third-party tested, and safe for practitioners to recommend to athletes and patients.” Marijuana is federally illegal in the United States, but hemp provides a legal option for clinicians. WADA’s new ruling now opens CBD to team physicians, physiotherapists, nutritionists and kinesiologists. “Phivida is a high-quality brand for athletes who need healthier, non-addictive treatments for pain and inflammation,” said Dr. Martin.

WADA’s now-positive stance on CBD represents a great opportunity for Phivida. Competitive athletes in high-impact sports like football, hockey and mixed martial arts are often plagued with a lifetime of debilitating physical injuries and mental health conditions.

Phivida’s CBD infusions give athletes, their trainers, and medical staff a whole-plant nutraceutical alternative to highly addictive opiate pharmaceuticals to treat chronic pain and inflammation from these injuries and afflictions.

ATHLETIC ENDORSEMENT

Earlier this year, the New York Times published a neuropathology study that found that 99% of former NFL players tested positive for Chronic Traumatic Encephalopathy (CTE). The NFL supports the NFL Players Association’s (NFLPA) study on the use of cannabinoids to treat chronic pain inflammation based disorders, like CTE, according to a Sports Illustrated article published on August 1st, 2017.

The NFLPA was coincided by the launch of the Your Mind Your Body Campaign designed to equip current and former players with the tools needed to achieve a healthy lifestyle, both physically and mentally and encourages an open dialogue on pressing health and safety issues, including CTE, and mental health.

Use of cannabinoid-based alternatives to opiates is not a new issue for the NFL. Many former players have become advocates for CBD as alternatives to narcotics, including former Baltimore Raven Eugene Monroe, Denver Bronco Jake Plummer, Chicago Bear Jim McMahon, and Ricky Williams who publicly stated a belief that “60-70% of all NFL athletes use medicinal marijuana”.

Despite the fact that both the NFLPA and NFL endorse a study of marijuana as a potential pain-management tool, the NFL currently suspends players who test positive for the drug and modified the threshold for a positive test for marijuana (i.e. THC). Finally, WADA’s new adoption of CBD as an approved substance, gives the NFL and its players hope for immediate relief, without controversy.

Phivida’s CBD-infused functional foods and natural health products are formulated with a special blend of nutraceuticals for enhanced athletic performance, and infused with a therapeutic dose of nanoencapsulated cannabidiol from hemp.

"This pain is never going away. My body is damaged," Eugene Monroe, 30, stated in a Washington Post article. "I have to manage it somehow. Managing it with pills was slowly killing me.”

With the lift on the CBD ban, WADA is finally taking sensible action on behalf of the athletes it is tasked to protect.

“Cannabidiol is no longer prohibited,” WADA said, maintaining that THC will remain as a banned substance. WADA cited the reason for the removal of cannabidiol from the banned list was because “it is not a cannabimimetic and does not mimic the effects of THC.”

WADA further clarified: “THC is still a prohibited substance.”

THC or tetrahydrocannabinol is the psychotropic chemical compound in marijuana that contributes to euphoric effects. Many CBD products on the market are marijuana derived and contain THC.

Purity levels in CBD-infused products will give an industry advantage to those producers that can utilize the most CBD, without delivering any THC.

Phivida’s nanoencapsulated CBD-Hemp Oil extracts, edibles and infusions, are federally legal, derived from Farm-Bill-compliant farms, and are now 100% WADA-compliant sources for cannabidiol. As well, they’re coming to a store near you.

Legal Disclaimer/Disclosure: This document is not and should not be construed as an offer to sell or the solicitation of an offer to purchase or subscribe for any investment. No information in this Report should be construed as individualized investment advice. A licensed financial advisor should be consulted prior to making any investment decision. We make no guarantee, representation or warranty and accept no responsibility or liability as to its accuracy or completeness. Baystreet.ca assumes no warranty, liability or guarantee for the current relevance, correctness or completeness of any information provided within this Report and will not be held liable for the consequence of reliance upon any opinion or statement contained herein or any omission. Baystreet.ca has been compensated eight hundred dollars for its efforts in distributing the Phivida article. Furthermore, we assume no liability for any direct or indirect loss or damage or, in particular, for lost profit, which you may incur as a result of the use and existence of the information, provided within this Report.
]]>
<![CDATA[Valeant (VRX) Cleans Up its Debt]]>Thu, 12 Oct 2017 07:40:19 ESThttp://www.baystreet.ca/articles.aspx?id=38457
Valeant, on October 3, issued a $1-billion debt offering that lower the total upcoming maturities.

Valeant priced its $1-billion principal amount of 5.5% senior notes due in 2025. It will use the proceeds to roll over existing debt. The issuance is not trivial: the lower interest will save the company money while simultaneously pushing out the maturity date.

The low interest rate offered suggests the market has a healthy appetite for Valeant’s debt, so the fear of any bankruptcy is now off the table. Valeant now has around $26 billion in debt and $24 billion net of cash. In June, the company’s net debt was $26.7 billion. The sale of Dendreon raised $811 million, while iNova brought in $923 million. The net effect is that Valeant will have $3.9 billion maturing in 2020.

Assuming Valeant generates $1 billion in free cash flow, the company’s interest on debt in 2020 are covered. It sets the stage for refinancing for the debt due in 2021 and beyond.
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<![CDATA[Athersys Hikes on MultiStem Hookup with Japanese Firm ]]>Wed, 11 Oct 2017 12:24:52 ESThttp://www.baystreet.ca/articles.aspx?id=38456Based on the agreement, Athersys and NCLi will engage in technology transfer activities at NCLi’s facility in Japan, and NCLi will begin contract manufacturing support for commercial development of the product in Japan. Athersys’ collaborator, HEALIOS K.K. (Healios), has an exclusive license to develop and market MultiStem in Japan for ischemic stroke, and is currently conducting its registrational clinical study, TREASURE, in Japan.

A news release issued Wednesday claimed therapeutic treatment with MultiStem may extend the stroke treatment window to 36 hours from the current three to four-and-a-half hours with existing standard of care, which would enable many more stroke patients to receive treatment than under the current standard of care and may also meaningfully enhance patient recovery.
Currently, there are nearly 17 million people that suffer a stroke globally and, on average, someone in the United States has a stroke every 40 seconds.
Athersys shares gained 11 cents, or 4.9%, midday Wednesday to $2.34, within a 52-week trading range of $1.02 to $2.63.
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<![CDATA[Delta Gains Altitude on Q3 Earnings]]>Wed, 11 Oct 2017 11:12:22 ESThttp://www.baystreet.ca/articles.aspx?id=38455The number-two U.S. airline reported adjusted earnings per share of $1.57, beating analysts' expectations of $1.53 a share for a quarter that ended with hurricanes that crippled operations.

Earnings per share were about 8% lower over the year-earlier period.

The airline posted quarterly revenue of $11.06 billion, slightly higher than expectations for $11.03 billion in the three months ended in September.

Delta's passenger revenue per available seat mile — a key income metric — rose 1.9%, in line with the airline's updated forecast earlier last month. It said it expects a 2% to 4% increase in passenger unit revenue in the fourth quarter, but warned that higher fuel costs would likely crimp operating margins for the last three months of the year.

Delta posted higher revenue in domestic and Latin American and trans-Atlantic operations, despite powerful storms in the Southern U.S. in August and September.

Delta executives will likely address the impact from deadly storms that hit carriers' hubs late this summer, as well as a bitter trade dispute between two Delta suppliers, Boeing and Canada's Bombardier.

Hurricane Irma, which struck Florida and Delta's hub in Atlanta, forced the airline to cancel more than 2,000 flights.

Delta shares began Wednesday’s trading up 37 cents to $53.07
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<![CDATA[BlackRock Rocks Markets on Q3 Figures ]]>Wed, 11 Oct 2017 10:42:55 ESThttp://www.baystreet.ca/articles.aspx?id=38454Total assets under management rose 17% to nearly $6 trillion as net inflows easily beat Wall Street expectations.

Here's how the company's results compare to Wall Street's expectations: EPS came in at $5.92 per share, compared with $5.56 expected. Revenue was $3.233 billion versus $3.096 billion expected.

Total assets under management registered at $5.977 trillion versus experts’ projected $5.94 trillion.
Net inflows were $96 billion versus $71.62 billion expected.
BlackRock also said its iShares exchange-traded funds business saw $52.3 billion in long-term net inflows, led by $33.1 billion in equity inflows. Assets under management for iShares totaled $1.640 trillion, accounting for 27% of BlackRock's total assets.

The company said cash assets rose 6 percent from a year earlier to $425.4 billion.

"One of the greatest problems we still have in the world is how much money is sitting on the sideline," according to CEO Larry Fink. "Even in places like Japan, there's $5 trillion in cash earning negative return. In Germany 72% of savings are in bank accounts. We're seeing some of that unlocked (and), we're seeing people put some of that money to work."

The company's stock has been on fire this year, advancing 21.5%. By comparison, the overall S&P 500 is up about 14% in the period. BlackRock shares have also outperformed the financials sector, which is up 13% in 2017.
BlackRock shares opened Wednesday up $2.80 to $468.29 ]]>
<![CDATA[Emblem Positioned to be Disruptive in the Medical Cannabis Industry]]>Wed, 11 Oct 2017 08:44:45 ESThttp://www.baystreet.ca/articles.aspx?id=38453
First, it has become apparent that for the foreseeable future, a few select Canadian marijuana companies will lead the sector growth, particularly over the US.


Second, the virtually unlimited growth in the space will and is being realized through the pharmaceutical developments, particularly in the pain, sleep and anxiety markets. Pain markets alone are $60 billion and will rise over 30% to $83 billion by 2024. Pain and sleep markets are two of the largest component markets.

Key to this growth at companies such as Emblem (TSXV:EMC) is when society embraces marijuana as what could well be the first line of defense and treatment for many afflictions, including the devastating opiate crisis.

“Emblem is focused on developing mainstream medical therapies to deliver consistent, 12-hour relief, with reduced side effects.,” states Gordon Fox, CEO Emblem Corp. “Canada is one of the few jurisdictions in the world –including the USA--with a path to regulatory approval of cannabinoid based medication. ACMPR has mechanisms for approval and these mechanisms are currently being expanded. The Canadian medical community can participate in research and clinical trials and share data and results across provincial boundaries.

With our recently announced exclusive arrangement with CanntabTherapeutics, Emblem is executing to plan.”

The Canntab Deal

Very simply, Canntab has the proprietary sustained release formulation: Emblem is licensed under the Access to Cannabis for Medical Purposes Regulations (the “ACMPR”) to cultivate and sell medical marijuana.

Canada is one of the few jurisdictions in the world with a path to regulatory approval of cannabinoid based medication.

- The current medical cannabis market in Canada is about $400 million. It is searching for better dosage formats. Simple oils have grown to about 35% of the market in less than a year. More appropriate dosage formats are expected to have comparable effects in the market.

- Currently, Cannabis tends to require re-dosing. A titratable, sustained release formulation would have substantial appeal in the chronic neuropathic pain market. Anecdotally, that segment represents a reasonable percentage of the current$400 million medical cannabis market.

- The Canadian non-cannabis chronic pain pharmaceutical market is over $500 million and dominated by opioids and is expected to reach $42.16 billion worldwide by 2021. A cannabinoid based sustained release product has potential to enter that market.



From Emblem’s October 3rd Press Release:

Canntab Therapeutics Limited is a Canadian cannabis oral dosage formulation company based in Markham Ontario, engaged in the research and development of advanced pharmaceutical grade formulations of cannabinoids. Canntab has developed in-house technology to deliver standardized medical cannabis extract from selective strains in a variety of extended/sustained release pharmaceutical dosages for therapeutic use.

The Agreement grants to Emblem the exclusive right in Canada to Canntab’s patents and know-how for the purpose of developing, commercializing, using, selling, and offering the Sustained Release Product for sale under the Emblem brand. The License does not include the right to import or export the Product. The Sustained Release Products will be manufactured by Emblem or by Canntab, after Canntab receives appropriate licensing allowing such manufacture.

As per other Royalty Agreements in the Pharmaceutical Sector terms weren’t disclosed other than ‘double digit” royalty. To be clear this relationship with Canntab is extremely favorable to Emblem.

It cannot be overstated how important a develop this is for patients. Instead of waiting 5-10 years for a therapy to get to patients, cannabis based products take mere months. There is substantial evidence that cannabinoids are effective for the treatment of a number of conditions including (i) chronic pain (ii) nausea, (iii) anxiety and sleep disorders, and (iv) spasticity in patients with Multiple Sclerosis.

The Global Opiate Crisis

While therapies will address particular conditions, anecdotally many patients know and have expressed the efficacy, ease of use and lack of side effects in pain management particularly.

Emblem plans to bring products to deal with neurological pain by fall 2018. Once the 12- hour delivery protocol is established, many afflictions can be addressed via the proper strain and titration.

Investors need to embrace the potential of this market and acquire some exposure. Choose carefully as there are many companies who have and will likely fail or price themselves out of the market.

Emblem’s business plan sets three divisions to be profit centres. From ongoing reasonable to maximum growth:

- Dried flower is the commodity space which provides superior, but generic product

- High quality strains (think aged single malt scotch versus JW Black) for the aficionado

- Top quality strains for ongoing therapeutics’ development.

Margins increase exponentially from dried flower to medical strains. Emblem (TSXV:EMC) is focused on the two markets above dried flower, although will be a major force in all three.

Marijuana Market Maturing Slightly. Invest Carefully, but Invest

The Marijuana space has matured somewhat from mining guys seeing a quick turn in fortunes by announcing some hair-brained participation to get their languishing stock prices up.

Then there the companies who conclude that more marijuana is better and are growing as much as they can.

Finally, there are a few companies, such as Emblem that have a solid growth plan and are not afraid to state their corporate intentions. Many comparisons are made to the UK’s GW Pharma as the direction a developing company should travel.

GW’s Sativex is approved for the treatment of spasticity due to multiple sclerosis in 30 countries outside the United States. The Company has a deep pipeline of additional cannabinoid product candidates which includes compounds in Phase 1 and 2 trials for glioma, schizophrenia and epilepsy. GW’s ADS on NASDAQ in 2013 came at $8.90. Last trade at this writing was $114.07.

Fun Facts

- Some plant biologists got their early weed (60’s, 70’s) experience by serving time for possession, etc.

- Lots of anecdotal evidence that Big Pharma continues to pay doctors to keep their products at the forefront

The five companies that disclosed what they paid doctors over a six-month period (July to December 2016) were:

- AbbVie (NYSE:ABBV) : $4,104,000

- Novartis (NYSE:NVS) : $3,645,026

- Amgen (NASDAQ:AMGN) : $2,365,000

- Bristol-Myers Squibb (NYSE:BMY) : $1,388,187

- Gilead (NASDAQ: GILD) : $539,761



That alone should give Marijuana companies such as Emblem a place in your speculative portfolio.

Oh, yes. 10 percent of patients suffer from Trypanophobia. That fear keeps 20 percent of that number to never seek medical attention. Look it up…

Perhaps with the inevitable insertion of Marijuana based therapies should reduce or eliminate that number.

And how would Big Pharma ‘payola’ doctors for such a readily available and efficacious therapy? Bueller?

Next couple of decades should be interesting; with less pain, more sleep, relief from chronic disease as well as lives saved.

Legal Disclaimer/Disclosure: This document is not and should not be construed as an offer to sell or the solicitation of an offer to purchase or subscribe for any investment. No information in this Report should be construed as individualized investment advice. A licensed financial advisor should be consulted prior to making any investment decision. We make no guarantee, representation or warranty and accept no responsibility or liability as to its accuracy or completeness. Baystreet.ca assumes no warranty, liability or guarantee for the current relevance, correctness or completeness of any information provided within this Report and will not be held liable for the consequence of reliance upon any opinion or statement contained herein or any omission. Baystreet.ca has been compensated four thousand dollars for its efforts in distributing the TSXV:EMC profile on its web site and distributing it to its database of subscribers. Furthermore, we assume no liability for any direct or indirect loss or damage or, in particular, for lost profit, which you may incur as a result of the use and existence of the information, provided within this Report. ]]>
<![CDATA[AnaptysBio Makes Waves on Trial Data ]]>Tue, 10 Oct 2017 03:25:01 ESThttp://www.baystreet.ca/articles.aspx?id=38452Said CEO Hamza Suria, “we are very encouraged by the efficacy results to date in this Phase 2a study, which exemplify our strategic focus on developing first-in-class anti-inflammatory antibody therapeutics to help patients suffering from debilitating inflammatory diseases.

“We look forward to further advancing the development of ANB020 for the treatment of patients with atopic diseases.”

The Phase 2a study is currently ongoing and EASI scores will be assessed for each patient up to 140 days post-ANB020 treatment. The company plans to report full data from this trial at a medical conference following study completion.

AnaptysBio is a clinical-stage biotechnology company developing what it calls “first-in-class antibody product candidates focused on unmet medical needs in inflammation”.

Its shares neared the close Tuesday up in the stratosphere, leaping in price $31.02, or 88.6%, to $66.02.
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<![CDATA[Wal-Mart Hikes on Share Buyback Program]]>Tue, 10 Oct 2017 11:30:29 ESThttp://www.baystreet.ca/articles.aspx?id=38451Wal-Mart also unveiled a $20-billion share repurchase program to replace its existing plan. The company says the new authorization will be used over a two-year period.

The big-box retailer explained it will continue to focus on remodeling existing stores and incorporating "digital experiences" in place of building new locations.

Ahead of its annual investor day in Bentonville, Arkansas, Wal-Mart said it expects its U.S. e-commerce business to grow sales by roughly 40% in fiscal 2019. Online transactions surged 60% during the second quarter of this year, the retailer declared in August.

The company still expects adjusted earnings per share for the fiscal year 2018 to fall between $4.30 and $4.40.

For fiscal 2019, Wal-Mart said it expects earnings to increase about 5% year over year. Net sales for fiscal 2019 are expected to grow close to 3%, driven by same-store and e-commerce sales growth, the company added.

In fiscal 2019, across the U.S., Walmart will open fewer than 15 Supercenters and fewer than 10 of its Neighborhood Markets.

For fiscal years 2018 and 2019 combined, Wal-Mart is calling for capital expenditures to be about $11 billion, with e-commerce investments going toward enhancing the retailer's supply chain. Wal-Mart's international business will also invest more in fulfillment capabilities.

Shares in Wal-Mart galloped $3.53, or 4.4%, to $84.06
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