RSS Feed en-us Copyright (c) 2016 Inc. All rights reserved. 5/24/2016 7:19:04 PM <![CDATA[Brick Brewing "BUY"]]>Tue, 24 May 2016 11:40:00 EST<![CDATA[Gold Set for 3rd Weekly Drop]]>Fri, 20 May 2016 03:09:00 EST, May 20, 2016

Gold Set for 3rd Weekly Drop

Gold edged higher on Friday after two days of losses but remained on track for its biggest weekly slide in nearly two months on growing expectations for an increase in U.S. interest rates as soon as next month.

Spot gold strengthened 0.2% at $1,257.11 U.S. an ounce, while U.S. gold futures for June delivery were up $3.30 at $1,258.10 U.S. Spot prices are down 1.5% this week and facing a third straight week of losses.

The metal has rallied 18% this year as investors bet the U.S. Federal Reserve would hold off from further increases.

Among other precious metals, silver was up 0.6% at $16.57 U.S., while platinum was up 1.5%at $1,024.40 U.S. and palladium 2.1% higher at $566.10 U.S. Palladium was the biggest faller of the week, down 4.7%

<![CDATA[Hackers Could Bring Down Banks]]>Tue, 24 May 2016 09:42:00 EST, May 24, 2016

Hackers Could Bring Down Banks

The head of the network that connects the world's banks warns that hackers will strike again, and they could bring down a bank.

The message from SWIFT CEO Gottfried Leibbrandt follows cyberattacks on banks in Bangladesh, Vietnam and Ecuador in which similar methods were used to circumvent local security systems.

The attack on Bangladesh's central bank yielded $101 million U.S., while Ecuadorian bank Banco del Austro was hit for $12 million U.S.

SWIFT, or the Society for Worldwide Interbank Financial Telecommunication, has already warned customers that the attacks appear to be "part of a wider and highly adaptive campaign."

In each case, attackers used malware to circumvent a bank's local security systems; gained access to the SWIFT messaging network, whereupon raudulent messages were sent via SWIFT to initiate cash transfers from accounts at larger banks.

Leibbrandt said the method is much more serious than a typical data breach or theft of customer information. Instead, the loss of control over payment channels could bring down a bank.

The attacks underscore the vulnerability of smaller banks that can't afford cutting-edge defenses. If hackers are able to break into a weaker bank, they can fabricate transfer requests in order to pull money out of a bigger bank.

In the case of Bangladesh Bank, hackers used the tactic to transfer money out of its accounts at the New York Fed. Investigators have yet to publicly identify any suspects in the case. Banco del Austro's funds were being held in accounts at Wells Fargo (NYSE: WFC).

SWIFT is taking additional measures to secure client banks, including sharing more information, supporting security audits and introducing tougher requirements for local bank computer networks.

For its part, Wells Fargo shares eked out a gain of 29 cents from Monday's close to $48.99 U.S., in early Tuesday trading, within a 52-week trading range of $44.50 U.S. to $58.76 U.S.

<![CDATA[Economic Calendar]]>Tue, 24 May 2016 07:19:04 EST 2016


Monday, May 02, 2016 RBC Manufacturing PMI: 9:30am Apr The RBC Canadian manufacturing PMI index remained in growth territory for April with a reading of 52.2 from a revised 51.5 previously. This was the strongest reading since December 2014. At 51.5 in March, up from 49.4 in February, the seasonally adjusted RBC Canadian Manufacturing PMI posted above the critical 50.0 no-change threshold for the first time in eight months. The index was the highest since December 2014.
Wednesday, May 04, 2016 Canadian International Merchandise Trade: 8:30am Mar Canada's exports fell 4.8% to $41.0 billion in March. Export volumes were down 2.9% and prices fell 2.0%. Imports declined 2.4% to $44.4 billion, as prices were down 2.1% and volumes fell 0.3%. As a result, Canada's merchandise trade deficit with the world widened from $2.5 billion in February to a record $3.4 billion in March. Canada's exports fell 5.4% to $43.7 billion in February, after reaching a record high in January. Export prices decreased 3.2% and volumes were down 2.2%. Imports declined 2.6% to $45.6 billion, as prices were down 1.4% and volumes decreased 1.2%. As a result, Canada's merchandise trade deficit with the world widened from $628 million in January to $1.9 billion in February.
Thursday, May 05, 2016 Building Permits: 8:30am Mar The total value of building permits issued by Canadian municipalities was down 7.0% to $6.9 billion in March, marking the second decline in three months. Municipalities issued building permits worth $7.4 billion in February, up 15.5% from January.
Friday, May 06, 2016 Labour Force Survey: 7:00am Apr Following an increase in March, employment was virtually unchanged in April, down 2,100, and the unemployment rate remained at 7.1%. Employment increased by 41,000, or 0.2%, in March, lowering the unemployment rate by 0.2 percentage points to 7.1%.
Friday, May 06, 2016 IVEY Purchasing Managers Index: 10:00am Apr The IVEY Purchasing Managers' Index came in at 53.1 for April, down from 50.1 in March and 58.2 for March 2015 The IVEY Purchasing Managers' Index came in at 50.1 for March, down from 53.4 in February and 47.9 for March 2015
Monday, May 09, 2016 Housing Starts: 8:15am Apr Canada Mortgage and Housing Corp showed the seasonally-adjusted annualized rate of housing starts fell to 191,512 units in April from a downwardly-revised 202,375 units in March. Canada Mortgage and Housing Corp showed the seasonally-adjusted annualized rate of housing starts fell to 204,251 units in March from an upwardly revised 219,077 units in February. Forecasters had expected 190,000 starts.
Thursday, May 12, 2016 New Housing Price Index: 8:30am Mar The New Housing Price Index rose 0.2% in March, following an identical increase in February. The New Housing Price Index rose 0.2% in February, following a 0.1% increase in January.
Monday, May 16, 2016 CREAstats - MLS Sales: 8:30am Apr The Canadian Real Estate Association reports, national home sales in April rose to their highest level ever. National home sales rose by 3.1% from March to April. Actual (not seasonally-adjusted) activity was up 10.3% compared to April 2015. According to figures published by the Canadian Real Estate Association, national home sales posted their third monthly increase and broke all previous monthly records. National home sales rose by 1.5% from February to March. Actual (not seasonally-adjusted) activity was up 12.2% compared to March 2015.
Tuesday, May 17, 2016 Monthly Survey of Manufacturing: 8:30am Mar Manufacturing sales fell 0.9% to $50.0 billion in March, a second consecutive monthly decline. Manufacturing sales decreased 3.3% to $51.2 billion in February, following three months of consecutive gains.
Wednesday, May 18, 2016 Canada's International Transactions in Securities: 8:30am Mar Foreign investment in Canadian securities strengthened for a third straight month to reach $17.2 billion in March. Foreign acquisitions were mainly composed of securities issued by Canadian private corporations. Meanwhile, Canadian investment in foreign securities amounted to $2.3 billion and was led by U.S. corporate instruments. Foreign investment in Canadian securities reached $15.9 billion in February, mainly in Canadian dollar denominated instruments. At the same time, Canadian investors resumed their acquisitions of foreign securities by adding $4.4 billion to their holdings, following a $14.7-billion divestment in January.
Thursday, May 19, 2016 Wholesale Trade: 8:30am Mar Wholesale sales declined for a second consecutive month in March, down 1.0% to $54.6 billion. Lower sales were recorded in five of seven subsectors, led by the motor vehicle and parts subsector and the miscellaneous subsector Wholesale sales decreased 2.2% to $55.8 billion in February, after three consecutive increases. Lower sales were recorded in five of seven sub-sectors, accounting for 66% of total wholesale sales. In volume terms, wholesale sales declined 1.9%.
Thursday, May 19, 2016 Employment Insurance: 8:30am Mar In March, 545,700 people received regular Employment Insurance benefits, fewer by 2,400 or -0.4% from the month before. In February, 548,700 people received regular Employment Insurance benefits, up 4,200, or 0.8%, from January
Friday, May 20, 2016 Consumer Price Index: 7:00am Apr The Consumer Price Index rose 1.7% in the 12 months to April, after increasing 1.3% in March. On a seasonally-adjusted monthly basis, the Consumer Price Index increased 0.2% in April, matching the gain in March The Consumer Price Index rose 1.3% in the 12 months to March, after increasing 1.4% in February. On a seasonally-adjusted monthly basis, retail inflation increased 0.2% in March, following a 0.2% decrease in February.
Friday, May 20, 2016 Retail Trade: 8:30am Mar Following gains in January and February, retail sales decreased 1.0% in March to $43.8 billion. Sales were down in six of 11 sub-sectors, representing 74% of total retail trade. Retail sales rose for the second consecutive month, advancing 0.4% to $44.2 billion in February. Gains were reported in nine of 11 sub-sectors, representing 89% of total retail trade.
Wednesday, May 25, 2016 BoC Rate Announcement: 10:00am --- --- The Bank of Canada today announced that it 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, May 26, 2016 Average Weekly Earnings Mar --- Average weekly earnings of non-farm payroll employees were $954.00 in February, up 0.3% from the previous month and up 0.4%, from 12 months earlier. Earnings growth has leveled off since February 2015.
Monday, May 30, 2016 Raw Materials Price Index: 8:30am Apr --- The Raw Materials Price Index increased 4.5%, led by higher prices for crude energy products.
Monday, May 30, 2016 Industrial Product Price Index: 8:30am Apr --- The Industrial Product Price Index declined 0.6% in March, led by lower prices for motorized and recreational vehicles, while higher prices for energy and petroleum products largely moderated the fall.
Tuesday, May 31, 2016 GDP: 8:30am Mar --- After rising for four consecutive months, real gross domestic product edged down 0.1% in February.
<![CDATA[Wildfires Could Shrink Q2 Economy: BMO ]]>Tue, 24 May 2016 03:56:00 EST Could Shrink Q2 Economy: BMO

A new forecast from BMO Capital Markets maintains the Alberta wildfires will cause Canada’s economy to contract by 1% or more in the second quarter

A decline in gross domestic product (GDP) would mark the first quarterly decline for Canada’s economy since the second quarter of last year, when the country slipped into what some experts referred to as a technical recession.

"The First Canadian Bank" said a pullback also means that talk of an interest rate cut by the Bank of Canada could also ramp up, depending on the damage done near Fort McMurray.

Economists have spent much of the past month trying to assess just how much damage the wildfires in Alberta will do to the Canadian economy. Many economists have downgraded growth forecasts and some have warned that the fires will prolong Alberta’s recession into next year.

The Bank of Canada makes its interest rate announcement Wednesday. The bank had previously forecast in its April Monetary Policy Report that the Canadian economy would grow by 1% in the second quarter, helping push GDP higher by 1.7% this year.

<![CDATA[Asia Stumbles, Investors Await Further Fed Cues]]>Tue, 24 May 2016 07:52:00 EST, May 24, 2016

Asia Stumbles, Investors Await Further Fed Cues

Asian markets traded broadly lower on Tuesday, led by declines in Japan and China, as investors await further cues from next month's U.S. Federal Reserve monetary policy meeting.

In Japan, the Nikkei 225 dropped 155.84 points, or 0.9%, to 16,498.76.

In Hong Kong, the Hang Seng index gained 21.40 points, or 0.1%, to 19,830.43.

In the currency markets, the Japanese yen strengthened, with the dollar-yen pair at 109.22, compared with levels a tad above 110 in the Asia session Monday. Reuters had reported earlier that Japan's Finance Minister said that the pair moving by five yen within two days would be considered a "one-sided move, but that Japan doesn't plan to devalue the yen sharply or consistently.

The yen's rise overnight came despite weaker economic data, with figures from the Japanese finance ministry on Monday showing exports in the country for April dropped 10.1% on-year in April, while imports dropped 23% on-year.

Reserve Bank of Australia Governor Glenn Stevens told the Trans-Tasman Business Circle that the central bank is committed to a flexible inflation-targeting monetary policy.

The Australian dollar traded at $0.7194 U.S., and at least one expert said the Aussie needed to close "below key support at $0.7210 for $0.7000 to come into play."

Energy plays were mostly lower, with Santos shares down 1.9%,Oil Search down 1.5% and Inpex lower by 1.8%

In other markets

The CSI 300 Index swooned 23.67 points, or 0.8%, to 3,063.56

In Korea, the Kospi Index faded 17.57 points, or 0.9%, to 1,937.68

In Singapore, the Straits Times Index shed 16.7 points, or 0.6%, to 2,750.23

In Taiwan, the Taiex Index subtracted 43.78 points, or 0.5%, to 8,300.66

New Zealand’s NZX 50 slipped 35.12 points, or 0.5%, to 6,872.66

The ASX 200 moved lower 23.37 points, or 0.4%, to 5,295.57

<![CDATA[U.S. New Home Sales at Quickest Pace in Years]]>Tue, 24 May 2016 11:57:00 EST new-home sales posted their strongest month in more than eight years while prices jumped to a record level, suggesting robust demand alongside limited supplies across the housing market.

Figures released Tuesday by the U.S. Commerce Department showed purchases of new, single-family homes jumped 16.6% from a month earlier to a seasonally adjusted annual rate of 619,000, the fastest pace since January 2008.

The median price of a new home—the point at which half of homes were sold above and half sold below—rose to $321,100 last month. That was up 9.7% from a year earlier and the highest level on record. Prices aren’t adjusted for seasonal factors.

Newly built homes make up just one-10th of all home purchases, and figures are often subject to large revisions. April’s report came with a margin of error of plus or minus 15.4 percentage points.

But broader trends suggest the market has regained its footing after a choppy first quarter. The National Association of Realtors said Friday that sales of existing homes, which account for the bulk of the market, rose for the second straight month in April. A separate Commerce Department report out last week showed housing starts rebounded in April, leaving builders on pace to break ground on 778,000 single-family homes this year.

Housing construction and sales remain below pre-recession levels. From 1990 to 2000, for example, new-home sales averaged a 716,000 annual pace. Last year, Americans bought 501,000 new homes, the best performance since 2007 but still well off previous years.

<![CDATA[IPO Center - TSX-V]]>Wed, 09 Dec 2015 12:00:00 EST 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]]><![CDATA[TSX Hangs Onto Gains]]>Tue, 24 May 2016 04:46:00 EST, May 24, 2016

04:46 PM EST
TSX Hangs Onto Gains

Toll Brothers Posts Best Day in 3 Yrs.

Stocks north of the border managed to hold onto gains they sustained throughout much of Tuesday, as the nation’s largest lenders joined a global rally in financial shares amid speculation the U.S. central bank is prepared to raise interest rates this summer.

The S&P/TSX Composite Index remained afloat 33.27 points – off its highs of the morning -- to close Tuesday at 13,952.85

The Canadian dollar dipped 0.01 cents to 76.08 cents U.S.

Canadian markets were shuttered Monday for the Victoria Day holiday.

In Canada, Bank of Nova Scotia gained 66 cents, or 1.1%, to $63.76, and Royal Bank of Canada added 67 cents to $78.52 to lead a gain among the big banks. The nation’s largest lenders now sit at the highest level in a year before Bank of Montreal kicks off the second-quarter earnings schedule on Wednesday.

The Bank of Canada is also set for its next policy decision on Wednesday, with the renewed speculation of an interest-rate increase at the Fed lowering the pressure on the central bank to cut its own lending rates to keep the currency competitive for exports. Higher U.S. rates weaken the Canadian dollar, making this country more attractive for foreign investment.

Suncor Energy gained 89 cents, or 2.6%, to $35.39, and Imperial Oil Ltd. rose 52 cents, or 1.3%, to $41.54.

Weighing on markets were gold issues, primarily Kinross Gold, falling 79 cents, or 12.2%, to $5.71, and Yamana Gold, off 60 cents, or 9.7%, to $5.62.


The TSX Venture Exchange slumped 10.83 points, or 1.6%, to 675.31.

All but three of the 13 TSX subgroups were positive on the day, as financials and consumer discretionary stocks spiked 1.2% each, while consumer staples picked up 1%.

The three laggards were gold, down 6.2%, materials, sliding 4.3%, and metals and mining, down 3%.


U.S. stocks closed more than 1% higher Tuesday, following encouraging reports on the housing market and sharp gains in European stocks.

The Dow Jones Industrials flew 213.12 points, or 1.2%, to 17,706.05, with Goldman Sachs, UnitedHealth and Home Depot contributing the most to gains as nearly all member stocks rose.

The S&P 500 was positive 28.43 points, or 1.4% to 2,076.47, with information technology leading all 10 sectors higher.

The NASDAQ Composite leaped 95.27 points, or 2%, to 4,861.06, with Apple up more than 1.5%.

Toll Brothers traded more than 8.5% higher and remained on pace for its best day since 2013. The luxury homebuilder reported earnings that beat on both the top and bottom line, as the company sold more luxury homes at higher prices, mainly in California. The firm also raised its forecast for home sales.

In other earnings news, Best Buy reported earnings that beat on both the top and bottom line but gave current-quarter forecast below Street forecasts.

AutoZone posted earnings that missed expectations and revenue below estimates, primarily due to weather-related factors in certain areas of the country and a legal charge

New home sales for April jumped 16.6% to a seasonally-adjusted annual rate of 619,000 units, topping expectations and the highest level since January 2008.

In other U.S. economic news, the Richmond Fed index for May showed minus one.

Prices for the 10-year Treasury gained back lost strength, lowering yields back to Monday’s 1.86%. Treasury prices and yields move in opposite directions.

Oil prices gained 70 cents a barrel to $48.78 U.S.

Gold prices plummeted $21.35 to $1,227.78 U.S. an ounce.

<![CDATA[Stocks in Play: Golden Dawn Minerals Inc.]]>Tue, 24 May 2016 09:51:00 EST, May 24, 2016

09:52 AM EST - Golden Dawn Minerals Inc. : Announced that on May 20, a Preliminary Economic Assessment Technical Report was filed on SEDAR for its Greenwood Gold Project in south-central British Columbia. Golden Dawn Minerals Inc. (V.GOM) shares were unchanged at 0.14.

<![CDATA[Stocks in Play: Intact Gold Corp.]]>Tue, 24 May 2016 09:51:00 EST, May 24, 2016

09:53 AM EST - Intact Gold Corp. : Announced that the company has closed its previously announced non-brokered Flow Through private placement. The private placement consisted of the issuance of 1.25 million units at a price of 16 cents per unit for gross proceeds of $200,000. Each unit comprises one Flow Through common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to acquire one additional common share until May 20, 2018 at a price of 20 cents. Intact Gold Corp. (V.ITG) shares were unchanged at 0.1.

<![CDATA[Stocks in Play: Para Resources Inc.]]>Tue, 24 May 2016 09:51:00 EST, May 24, 2016

09:53 AM EST - Para Resources Inc. : Announced that its high-grade gold mine and mill at El Limon in Colombia has now been operating for two weeks and is producing gold. The senior management team and major shareholders attended the mine site near Zaragosa last week to witness operations. All systems were operational and the mine is processing material stockpiled during the re-construction phase. There is approximately 4,500 tons of mineralized rock from the underground mine on site waiting to be processed. Underground mining operations continue. Para Resources Inc. (V.PBR) shares were unchanged at 0.25.

<![CDATA[Stocks in Play: Diamcor Mining Inc.]]>Tue, 24 May 2016 09:51:00 EST, May 24, 2016

09:54 AM EST - Diamcor Mining Inc. : Announced that the advancement of the Krone-Endora at Venetia project is progressing as planned with the completion of the first two, of four additional boreholes associated with the recently granted long-term Water Use License for the Company's Krone-Endora at Venetia Project. The Company expects to finalize the two remaining boreholes prior to the end of the current fiscal quarter ending June 30. Diamcor Mining Inc. (V.DMI) shares were unchanged at 1.08.

<![CDATA[Stocks in Play: Seabridge Gold]]>Tue, 24 May 2016 09:51:00 EST, May 24, 2016

11:38 AM EST - Seabridge Gold : Outlined its 2016 exploration plans at its 100%-owned KSM Project in northwestern British Columbia. The program calls for 10,000 meters of core drilling designed to expand by as much as 800 metres the block cave shapes that confine the current resource estimate Drilling is planned to begin by mid-June following a winter of relatively light snow accumulation. Seabridge Gold (T.SEA) shares were down $0.51 at 16.84.

<![CDATA[Stocks in Play: Prodigy Ventures Inc.]]>Tue, 24 May 2016 09:51:00 EST, May 24, 2016

11:39 AM EST - Prodigy Ventures Inc. : Announced the launch of iVideo for Android. iVideo for Android offers users a compelling new social video experience on the world's most popular mobile platform. Users can check out what's trending, share creations, see who's nearby, follow their favourites and join in the discussion. iVideo saves all new videos to the iVideo Cloud, and to the user's device media library, for easy uploading to Instagram, Vine or other social media platforms. Prodigy Ventures Inc. (V.PGV) shares were unchanged at 0.38.

<![CDATA[Stocks in Play: Sierra Metals Inc.]]>Tue, 24 May 2016 09:51:00 EST, May 24, 2016

11:41 AM EST - Sierra Metals Inc. : Announced the release of drill results for the Esperanza zone at its Yauricocha mine in Peru. This news release is a follow-up to the initial news release dated January 28, which announced the discovery of the "Esperanza" zone which is located 400 meters north of the central mine area and along strike from current mining activities. Sierra Metals Inc. (T.SMT) shares were down $0.06 at 1.58.

<![CDATA[Stocks in Play: Open Text Corporation]]>Tue, 24 May 2016 09:51:00 EST, May 24, 2016

03:49 PM EST - Open Text Corporation : Announced that Warner Music France, the French entity of the Warner Music Group, the world's third largest music company, has strengthened its partnership with OpenText to manage critical B2B information flows with its global retailers. Open Text Corporation (T.OTC) shares were down $0.03 at 73.97.

<![CDATA[Stocks in Play: Descartes Systems Group]]>Tue, 24 May 2016 09:51:00 EST, May 24, 2016

03:50 PM EST - Descartes Systems Group : And NetSuite Inc., the industry's leading provider of cloud-based financials, enterprise resource planning and omnichannel commerce software suites, announced that their joint solution for omnichannel retail fulfilment and shipping has helped Redcat Racing grow by over 650%. Descartes Systems Group (T.DSG) shares were up $1.33 at 26.57.

<![CDATA[Stocks in Play: Keyera Corp]]>Tue, 24 May 2016 09:51:00 EST, May 24, 2016

03:53 PM EST - Keyera Corp : Announced today the successful completion of the public offering of 8,250,000 common shares, as well as the sale of an additional 1,237,500 Common Shares pursuant to the over-allotment option exercised by the underwriters in connection with the public offering. This brings the total number of Common Shares sold by Keyera in the public offering to 9,487,500. The Common Shares were priced at $36.35 per Common Share for gross total proceeds of approximately $345 million. Keyera Corp (T.KEY) shares were down $0.59 at 37.86.

<![CDATA[InterCloud Systems Awarded New Contract, Shares Perk Up On News]]>Tue, 24 May 2016 04:49:00 EST, May 24, 2016

InterCloud Systems Awarded New Contract, Shares Perk Up On News

According to International Data Corporation (IDC), total spending on cloud IT infrastructure grew by 24.1% to reach around $32.6 billion in 2015. More importantly, IDC expects cloud IT infrastructure spending to grow at a compound annual growth rate (CAGR) of 15.1% and reach $53.1 billion 2019.

By 2019, IDC expects cloud IT infrastructure spending to account for 46% of the total spending on enterprise IT infrastructure. Natalya Yezhkova, Research Director of Storage Systems, said that numerous IDC surveys indicate growing interest among enterprise customers to cloud deployments across multiple IT domains.

Yezhkova further said that end users often cite the agility of IT infrastructure and economic reasons as drivers for cloud adoption, but IDC also expects that the proliferation of next generation applications born and run in the cloud will fuel its further growth.

In a separate report, market research firm Gartner notes that the worldwide public cloud services market is expected to grow 16.5% in 2016 to reach $204 billion. The market totaled $175 billion in 2015, according to Gartner. The research firm expects the highest growth to
come from cloud system infrastructure services, which is forecast to grow 38.4% in 2016.

Gartner expects cloud advertising, which is the largest segment of the global cloud services market, to grow 13.6% in 2016 to reach $90.3 billion.

The robust outlook for cloud computing augurs well for InterCloud Systems Inc. (NASDAQ:ICLD), a U.S.-based leading provider of cloud networking orchestration and automation, for Software Defined Networking (SDN) and Network Function Virtualization (NFV) cloud environments to the telecommunications service provider (carrier) and corporate enterprise markets through cloud solutions and professional services.

ICLD’s cloud solutions offer enterprise and service-provider customers the opportunity to adopt an operational expense model by outsourcing cloud deployment and management to the company rather than the capital expense model that has dominated in recent decades in IT infrastructure management.

This morning, ICLD announced that it was recently awarded more than $3.2 million in professional service contracts to support next generation Wi-Fi and DAS network deployments from existing and new clients.

Mark Munro, CEO at InterCloud Systems, said that the company continues to build upon its backlog with significant new business. Munro said that while the company develops its cloud portfolio of IT services and products based around software definednetworks (“SDN”) and network function virtualization (“NFV”), its legacy professional services segments continues to grow as its existing customers seek network upgrades and expansions.

Shares of ICLD have been in a long term downtrend however recently seem to be leveling off around the $1.00 level. With further positive developments from the Company, the long share price bleed may be close to coming to an end.

<![CDATA[Economic Data Limited to States]]>Tue, 24 May 2016 10:28:05 EST
Experts expect a range today of $1.3090 to $1.3207 Canadian

The euro is weak from yesterday’s close. Purchasing Managers' Index data released yesterday for the euro-zone while Canada enjoyed a long weekend. Germany’s Manufacturing, Services and Composite PMI all released better than expected, but the eurozone told a different story as all three metrics came in short of expectations. France’s PMI results were mainly stronger than expected except for its Manufacturing PMI. Continuing with the German fundamentals this morning, the country’s Gross Domestic Product for the first quarter was in line with estimates and ZEW Survey in May printed mixed. The Euro dropped around 75 basis points from yesterday’s close and is currently trading at $1.4665 Canadian.

We expect a range today of 1.4605 to 1.4722

The pound sterling improved yesterday’s close to a fresh high of $1.9177 Canadian. This morning, attention was focused on Governor Mark Carney and the Bank of England, as he testified in front of the Treasury Select Committee regarding its inflation report. Reports have not surfaced yet, but it is expected that he would be grilled on the topic of Brexit.

The Australian dollar declined from yesterday’s close to $0.9411 Canadian. Reserve Bank of Australia Governor Glenn Stevens defended his bank's inflation target today in a speech in Sydney and indicated that the central bank will likely cut interest rates again this year. This triggered the Aussie to slide back to last week’s lows. The New Zealand dollar is soft from yesterday’s close to $0.8837 Canadian. No major event risk this morning leaving the Kiwi to trade on broader sentiments.

Oil (WTI): $48.24

Gold: $1,236.44

Silver: $16.30

Copper: $2.1004

Dollar Index: 95.52]]>
<![CDATA[Top Analyst Actions: EQR, BAK, WBK, PLOW, HOLI ]]>Tue, 24 May 2016 12:48:00 EST<![CDATA[Twitter (TWTR) Falls on Downgrade ]]>Tue, 24 May 2016 11:35:56 EST<![CDATA[Best Buy (BBY) Slumps on Weak Profit Quarter ]]>Tue, 24 May 2016 11:33:00 EST<![CDATA[DSW (DSW) Staggers on Q1 Earnings]]>Tue, 24 May 2016 11:31:00 EST<![CDATA[Seaspan Corporation (SSW) Weakens on New Share Offering]]>Tue, 24 May 2016 11:24:00 EST<![CDATA[Kirkland's (KIRK) Slides on Q1 Earnings]]>Tue, 24 May 2016 11:07:00 EST<![CDATA[Central European Media Enterprises (CETV) Picks Up After Monday Decline]]>Tue, 24 May 2016 11:04:36 EST<![CDATA[Toll Brothers (TOL) Leaps on Q2 Results]]>Tue, 24 May 2016 11:02:00 EST<![CDATA[Microvision (MVIS) Loses After Sharp Monday Gain]]>Tue, 24 May 2016 10:59:43 EST<![CDATA[Sarepta Therapeutics (SRPT) Recovers from Negative Monday]]>Tue, 24 May 2016 10:56:24 EST