BAYSTREET RSS FEED http://www.baystreet.ca/rss/MasterRSS.aspx en-us Copyright (c) 2015 Baystreet.ca Inc. All rights reserved. 4/18/2015 4:41:56 AM <![CDATA[Blackbird Energy "BUY"]]>Thu, 16 Apr 2015 03:30:20 ESThttp://baystreet.ca/articles/analyst_ratings.aspx?21515<![CDATA[Gold on pace for monthly decline]]>Fri, 17 Apr 2015 12:00:00 ESThttp://baystreet.ca/articles/commodities.aspx?id=574Friday, April 17, 2015


Gold on pace for monthly decline


Gold futures gained ground Friday, as investors bid up the precious metal and other safety plays while U.S. stock futures sold off.

A regulatory change in China and an outage for Bloomberg terminals were getting blamed for the move away from stocks and other riskier assets.

Gold for June delivery was last up $3.60, or 0.3%, to $1,201.60 U.S. an ounce mid-morning Friday, cutting the contract’s weekly drop to about 0.2%.

Meanwhile, May silver rose one cent, or 0.1%, to $16.30 U.S. an ounce, as the contract eyed a weekly decline of 0.5%.

Greek tension also was contributing to risk-off sentiment, with the International Monetary Fund warning Greece against delaying payments to the fund.

On Thursday, gold futures settled lower, but held their ground near the key $1,200-U.S.-an-ounce level, finding some support from weakness in the U.S. dollar as investors mulled the latest batch of U.S. economic data and developments tied to debt woes in Greece.

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<![CDATA[Panasonic foresees doubling Wi-Fi installation on airlines]]>Thu, 16 Apr 2015 12:00:00 ESThttp://baystreet.ca/articles/techinsider.aspx?id=543Thursday, April 16, 2015

Panasonic foresees doubling Wi-Fi installation on airlines


Panasonic Avionics says it will need to double the rate at which it installs Wi-Fi systems on aircraft to catch up with skyrocketing demand from airlines to keep passengers connected above the clouds.

Airlines are rushing to install Wi-Fi on board, seeing not only an opportunity to meet demands from customers to be always connected, but also to make the most of advertising contracts from companies keen on access to this captive audience.

Panasonic Avionics, part of Panasonic Corp, says it has won a 46% share of business for Wi-Fi systems since 2009, taking the lead over rivals such as OnAir, Gogo and Global Eagle's Row44.

While Wi-Fi onboard has so far mainly been fitted to long-haul fleets, airlines are now looking at it for shorter flights, especially as people bring their own tablets on board.

A company spokesman predicted 12,000 narrow body planes would be equipped with the technology in the next 10 years.

]He also said Panasonic would continue to look at acquisitions to expand its avionics business. It on Tuesday announced the purchase of software consultancy Tactel, which designs apps and portals.

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<![CDATA[Economic Calendar]]>Sat, 18 Apr 2015 04:41:55 ESThttp://baystreet.ca/articles/econ_calendar.aspx?id=18125April 2015
 

DATE

STATISTIC FOR CURRENT MONTH PREVIOUS MONTH
Wednesday, April 01, 2015 RBC Manufacturing PMI: 9:30am Feb Canada’s RBC Manufacturing PMI inched up to 48.9 in March from 48.7 in February, indicating a slower rate of contraction. For the first quarter of 2015, the PMI average for the three months was 49.5, the lowest since at least 2010. Adjusted for seasonal influences, the RBC Canadian Manufacturing PMI dropped from 51.0 in January to 48.7 in February, to signal a moderate deterioration in overall business conditions across the manufacturing sector.
Thursday, April 02, 2015 Canadian International Merchandise Trade: 8:30am Feb Canada's imports declined 0.7% in February while exports were up 0.4%. Import volumes fell 1.7% while prices increased 1.1%. For exports, volumes were down 3.3% while prices rose 3.9%. Consequently, Canada's merchandise trade deficit with the world narrowed from $1.5 billion in January to $984 million in February. Canada's exports declined 2.8% in January while imports were largely unchanged from December. As a result, Canada's merchandise trade deficit widened from $1.2 billion in December to $2.5 billion in January, the largest since the record $2.9-billion deficit in July 2012.
Monday, April 06, 2015 IVEY Purchasing Managers Index: 10:00am Feb The Ivey Purchasing Managers Index by the end of March 2015 stood at 47.9, compared to 49.7 in February, and 55.2 in March 2014 The Ivey Purchasing Managers Index rolled out of London, Ontario’s Western University, showing a reading last month of 49.7. This compares to 45.4 in January, and 57.2 in February 2014.
Thursday, April 09, 2015 Building Permits: 8:30am Feb Canadian municipalities issued building permits worth $6.1 billion in February, edging down 0.9% from the previous month. This was the second consecutive monthly decline. The total value of building permits issued by Canadian municipalities fell 12.9% to $6.1 billion in January, following a 6.1% increase the previous month.
Thursday, April 09, 2015 New Housing Price Index: 8:30am Feb The New Housing Price Index rose 0.2% in February, following a 0.1% decline in January. The New Housing Price Index fell 0.1% in January, largely as a result of lower negotiated selling prices.
Friday, April 10, 2015 Housing Starts: 8:15am Mar The trend measure of housing starts in Canada was 179,016 units in March compared to 180,236 in February, according to Canada Mortgage and Housing Corporation Canada Mortgage and Housing Corp said the seasonally-adjusted annualized rate of housing starts fell to 156,276 units last month from a downwardly-revised 187,025 in January, or well short of the 180,000 economists had expected.
Friday, April 10, 2015 Labour Force Survey: 7:00am Mar Employment increased by 29,000 in March, driven by gains in part-time work. The unemployment rate was unchanged at 6.8%. Employment was unchanged in February, while the unemployment rate rose by 0.2 percentage points to 6.8% as more people searched for work.
Wednesday, April 15, 2015 Monthly Survey of Manufacturing: 8:30am Feb Manufacturing sales declined 1.7% to $50.0 billion in February, the fourth decrease in five months. Manufacturing sales fell 1.7% in January, led by a price-induced decline of 11.9% in sales of petroleum and coal products.
Wednesday, April 15, 2015 CREAstats - MLS Sales: 8:30am Mar The Canadian Real Estate Association said national home sales edged up 4.1% from February to March. Actual (not seasonally-adjusted) activity stood 9.5% above March 2014 levels. The Canadian Real Estate Association told us this morning that MLS sales activity edged up 1.0% in February. Actual (not seasonally adjusted) activity stood 2.7% above February 2014 levels.
Wednesday, April 15, 2015 BoC rate announcement: 10am --- The Bank of Canada maintained its target for the overnight rate at 0.75%. The Bank Rate is correspondingly 1% and the deposit rate is 0.5% ---
Friday, April 17, 2015 Consumer Price Index: 7:00am Mar The Consumer Price Index rose 1.2% in the 12 months to March, after increasing 1.0% in February. On a seasonally adjusted monthly basis, the Consumer Price Index increased 0.4% in March, following a 0.2% rise in February. The Consumer Price Index rose 1.0% in the 12 months to February, matching the increase in January. On a seasonally adjusted monthly basis, the Consumer Price Index rose 0.2% in February, following a 0.2% decrease in January.
Friday, April 17, 2015 Retail Trade: 8:30am Feb Following two consecutive monthly declines, retail sales rose 1.7% in February to $42.2 billion. Retail sales decreased for the second consecutive month in January, declining 1.7% to $41.4 billion.
Friday, April 17, 2015 Canada's International Transactions in Securities: 8:30am Feb Foreign investment in Canadian securities strengthened to $9.3 billion in February, led by foreign purchases of federal government bonds. Meanwhile, Canadian investors resumed their investment in foreign securities by adding $9.4 billion to their holdings, mainly US instruments. Canadian investors reduced their holdings of foreign securities by a monthly record $10.8 billion in January, following a $13.9 billion investment in December. Meanwhile, foreign investors resumed their acquisitions of Canadian securities by adding $5.7 billion worth to their portfolios.
Tuesday, April 21, 2015 Wholesale Trade: 8:30am Feb --- In January, wholesale sales recorded the largest monthly decline since January 2009, decreasing 3.1% to $53.7 billion, which more than offset the gain in December.
Thursday, April 23, 2015 Employment Insurance: 8:30am Feb --- The number of people receiving regular Employment Insurance benefits totaled 496,600 in January, virtually unchanged from the previous month. Compared with January 2014, the number of beneficiaries decreased by 14,200 or 2.8%.
Wednesday, April 29, 2015 Industrial Product Price Index: 8:30am Mar --- The Industrial Product Price Index increased 1.8% in February, largely as a result of higher prices for energy and petroleum products.
Wednesday, April 29, 2015 Raw Materials Price Index: 8:30am Mar --- The Raw Materials Price Index rose 6.1%, mainly because of higher prices for crude energy products.
Thursday, April 30, 2015 GDP: 8:30am Feb --- Real gross domestic product edged down 0.1% in January after increasing 0.3% in December and declining 0.2% in November.
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<![CDATA[Inflation rate inches up in March ]]>Fri, 17 Apr 2015 12:00:00 ESThttp://baystreet.ca/articles/economiccommentary.aspx?id=1350Inflation rate inches up in March


The cost of living ticked up to 1.2% in March, higher than February's level, but still on the low end of the range deemed comfortable by the Bank of Canada.

Gasoline prices were the main factor driving down the consumer price index, Statistics Canada said Friday.

Since last fall, gas prices have been well below their levels a year ago, keeping the official inflation rate in check. Prices across Canada were 19.2% lower last month than they were in the same month a year earlier.

Stripping out gas prices, the inflation rate would have been 2.2% in March.

Across the country, prices increased in every province except Alberta and the Atlantic provinces, where the inflation rate was negative. Ontario now has the highest inflation rate in the country, at 1.6%.

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<![CDATA[China soars as investors target large caps]]>Fri, 17 Apr 2015 12:00:00 ESThttp://baystreet.ca/articles/foreignmarketwrap.aspx?id=2101Friday, April 17, 2015

China soars as investors target large caps



China shares finished the week on a volatile note, with Shanghai jumping more than 2% for the second day in a row, while Japan hit a two-week low amid concerns about earnings results.

In Japan, the Nikkei 225 dumped 232.89 points, or 1.2%, to 19,652.88, on increased profit-taking and heightened concerns over forthcoming earnings results.

In Hong Kong, the Hang Seng index surrendered 86.59 points, or 0.3%, to 27,653.12, totaling a 1.4% gain for the week.

Enthusiasm for Hong Kong shares was cooling after the Hang Seng rose nearly 8% last week, helped by record buying from mainland investors through a trading link with Shanghai.

One expert said investors in Hong Kong remain excited about the potential for mainland investment flows. Credit Suisse estimates that mainland mutual funds could gradually invest up to 184 billion yuan ($29.8 billion U.S.) in Hong Kong once they are set up to use a trading link to access the market via Shanghai.

In Japan, Sharp Corp. led major market drivers, falling 5.7% after a Nikkei business daily report said that the firm has reached a broad agreement with two of its major creditors to receive some ¥200 billion via a debt-for-equity swap (DES), which could end up being highly dilutive to its common stock.

In earnings news, McDonald’s Holdings Co. (Japan) fell 0.5% after it said it expects a net loss of ¥38 billion ($318.8 million U.S.) — its worst result since listing in 2001 — for the current business year. CEO Sarah Casanova announced plans to renovate 2,000 of its 3,000 franchises over the next four years, close 131 unprofitable locations by year-end and cut 100 staffers through an early retirement program.

Australian stocks finished down, leaving the index 1.5% lower for the week. The market began trading Friday in negative territory on a mix of fears of a Greek default as the clock ticks down on a deal between the nation and its creditors, and following what traders said was a soft lead from Wall Street’s overnight trading.

CHINA

The Shanghai CSI 300 hiked 82.59 points, or 1.8%, to 4,596.14, as local investors rushed into stocks of large cap firms. By contrast, small cap Chinese stocks sold off.

In other markets

In Singapore, the Straits Times Index dipped 6.42 points, or 0.2%, to 3,525.18

The Kospi index in Korea gained 3.60 points, or 0.2%, to 2,143.50

In Taiwan, the Taiex index slid 85.94 points, or 0.9%, to 9,570.93

In New Zealand, the NZX 50 moved downward 20.28 points, or 0.3%, to 5,861.48

In Australia, the S&P/ASX 200 faded 69.60 points, or 1.2%, to 5,877.87



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<![CDATA[Bloomberg goes dark]]>Fri, 17 Apr 2015 12:00:00 ESThttp://baystreet.ca/articles/globalmarkets.aspx?id=1356Thousands of Bloomberg screens around the world went dark for several hours Friday, leaving traders without access to market data, news and dealing systems.

The global outage began just as the London trading day was beginning, and forced the postponement of an auction of U.K. government debt until later Friday.

Bloomberg said it had restored service to most customers by soon after 7 a.m. ET.

Founded by Michael Bloomberg, the company is one of the leading providers of financial information and dealing systems in the world.

More than 300,000 people subscribe to its flagship Bloomberg Professional product. It competes with companies such as Thomson Reuters, Factset, Markit and others, and performs a vital role in providing secure systems for traders and investors in stocks, bonds, currency and commodity markets.

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<![CDATA[IPO Center - TSX-V]]>Mon, 13 Jan 2014 12:00:00 ESThttp://baystreet.ca/articles/ipo_tsx.aspx?id=10023 Company Name Ticker Date RepliCel Life Sciences Inc. RP 13-01-2014 Cleantech Capital Inc. YES.P 14-01-2014 Jet Metal Corp. JET 20-01-2014 Reliance Resources Limited RI 22-01-2014 West African Resources Limited WAF 24-01-2014 Westcap Investments Corp. WI 12-02-2014 Sonde Resources Corp. SOQ 19-02-2014 QMX Gold Corporation QMX 20-02-2014 Knight Therapeutics Inc. GUD 28-02-2014 PC Gold Inc. PKL 11-03-2014 Silver Predator Corp. SPD 13-03-2014 Baja Mining Corp. BAJ 17-03-2014 IOU Financial Inc. IOU 17-03-2014 Rockefeller Hughes Corporation RHC 20-03-2014 Chrysalis Capital IX Corporation NYN 28-03-2014 Northern Sun Mining Corp. NSC 16-04-2014 Cliffside Capital Ltd. CEP 17-04-2014 Till Capital Ltd. TIL 24-04-2014 Redzone Resources Ltd. REZ 28-04-2014 Alabama Graphite Corp. ALP 05-05-2014 Jaguar Financial Corporation JFC 21-05-2014 Lingxian Capital Inc. LXC.P 23-05-2014 Tribute Pharmaceuticals Canada Inc. TRX 27-05-2014 Dataminers Capital Corp. DMC.P 29-05-2014 Transeastern Power Trust TEP.DB 02-06-2014 X-Terra Resources Inc. XTT 03-07-2014 Starlight U.S. Multi-Family (No.3) Core Fund SUS.UN 09-07-2014 Searchtech Ventures Inc. MJN.P 16-07-2014 Whiteknight Acquisitions III Inc. WKA 21-07-2014 Petro-Victory Energy Corp. VRY 24-07-2014 Geovic Mining Corp. GMC 28-07-2014 01 Communique Laboratory Inc. ONE 31-07-2014 Leucrotta Exploration Inc. LXE 19-08-2014 Cluny Capital Corp CLN 20-08-2014 Maestro Capital Corporation MCP 21-08-2014 Manera Capital Corp. MEA 28-08-2014 Mediterranean Resources Ltd. MNR 02-09-2014 Eastwood Bio-Medical Canada Inc. EBM 05-09-2014 Orletto Capital Inc. OLE 09-09-2014 Rodeo Capital III Corp. ROP 17-09-2014 Mira IV Acquisition Corp. MRY 24-09-2014 Xander Resources Inc. XND 25-09-2014 Maple Peak Investments Inc. MAP.P 01-10-2014 Campar Capital Corporation CHK 24-10-2014 Niocan Inc. NIO 28-10-2014 Groupe Bikini Village inc. GBV 13-11-2014 Aumento Capital V Corporation AMN 13-11-2014 BFK Capital Corp. BFK 17-11-2014 Marching Moose Capital Corp. MMC 19-11-2014 Chieftain Metals Corp. CFB 21-11-2014 Anchor Capital Corporation ANC 02-12-2014 Portofino Resources Inc. POR 05-12-2014 Mira VI Acquisition Corp. MVI 18-12-2014 NYX Gaming Group Ltd. NYX 30-12-2014 CohBar Inc. COB 06-01-2015 Riley Resources Corp. RLY.P 08-01-2015 POCML 3 Inc. PWR 15-01-2015 Essa Pharma Inc. EPI 27-01-2015 Carlaw Capital V Corp. CVC 05-02-2015 Lupaka Gold Corp. LPK 18-02-2015 Arch Biopartners Inc. ACH 23-02-2015 LL Capital Corp. LLA.P 04-03-2015 San Angelo Oil Limited SAO 10-03-2015 Aequus Pharmaceuticals Inc. AQS 17-03-2015 Dominion General Investment Corporation DIC.P 27-03-2015 EQ Inc. EQ 31-03-2015 Zincore Metals Inc. ZNC 31-03-2015 Starlight U.S. Multi-Family (No.4) Core Fund SUF 14-04-2015 Tidewater Midstream and Infrastructure Ltd. TWM 15-04-2015 Titanium Transportation Group Inc. TTR 16-04-2015]]><![CDATA[TSX negative on day]]>Fri, 17 Apr 2015 12:00:00 ESThttp://baystreet.ca/articles/marketupdates.aspx?id=4162Friday, April 17, 2015

04:20 PM EST
TSX negative on day

Metals, tech take lumps


WEEKLY MARKET WRAP UP


The Toronto stock market was down for a second day Friday, amid less than stellar earnings reports and worrisome economic news from overseas.

The S&P/TSX composite index lost 26.22 points to close the day and the week at 15,360.55

The Canadian dollar dipped 0.27 cents to 81.78 cents U.S.

Among metals and mining stocks – some of the hardest hit – Capstone Mining faltered four cents, or 3%, to $1.31, while First Quantum Minerals ducked back 43 cents, or 2.7%, to $15.57.

Information technology stocks also did not fare well, as Sierra Wireless tumbled $1.98, or 4.2%, to $45.57, and DragonWave erased three cents, or 3.2%, to 90 cents.

Consumer staples stocks were also roughed up, as Jean Coutu Group fell $1.99, or 7.2%, to $25.58, and Cott Corporation slid 25 cents, or 2.2%, to $11.26.

Real-estate issues tried to even things out, as units of Calloway REIT surged $1.04, or 3.6%, to $30.20.

Gold stocks also did their part, with Rubicon Minerals added five cents, or 3.85, to $1.37, and Alamos Gold moved higher 28 cents, or 3.6%, to $8.10.

On the economic slate, Statistics Canada reported that the consumer price index gained 0.4% for March, after a 0.2% hike in February.

Retail trade rose 1.7% in February to $42.2 billion, as gains were widespread as all 11 retail sub-sectors reported higher sales.

Moreover, the agency said, foreign investment in Canadian securities strengthened to $9.3 billion in February, mostly foreign purchases of federal government bonds.

Meanwhile, investors here resumed their investment in foreign securities by adding $9.4 billion to their holdings, mainly U.S. instruments.

ON BAYSTREET

The TSX Venture Exchange fell back into negative grounds 2.74 points to 702.85

All but four of the 14 Toronto subgroups were lower on the day, with the metals and mining and information technology groups each skidding 1.3%, while consumer staples were 1.2% to the bad.

The four gainers were led by real-estate, headed higher 0.6%, gold, surging 0.4%, and energy, better by 0.3%.

ON WALLSTREET

U.S. stocks traded sharply lower on Friday, following a global decline in equities on renewed Greece concerns and new Chinese trading regulations.

The Dow Jones Industrials tumbled 279.47 points, or 1.5%, to 17,826.30, having dipped more than 350 points before coming off lows and attempting to hold gains for the year, with American Express and 3M among the greatest decliners.

The S&P 500 index dropped 23.59 points, or 1.1%, to 2,081.40

The NASDAQ index plummeted 75.07 points, or 1.5%, to 4,932.72. The major averages had their worst day since March.

General Electric reported adjusted quarter profit of 31 cents U.S. per share, one cent above estimates. Revenue was below forecasts, due in part to a $950-million U.S. negative impact from currency effects.

Honeywell beat estimates by two cents with quarterly profit of $1.41 U.S. per share, though revenue fell slightly below analyst forecasts. The company gave a cautious sales outlook, but said expanding profit margins should boost the bottom line.

After the bell on Thursday, American Express reported earnings above estimates. However, revenue missed expectations due to a strong dollar and the end of several co-branding relationships.

Futures held lower but above morning lows after the consumer price index showed an increase of 0.2% in March, below expectations of 0.3%.

However, the figure marked the second-straight month of gains and matched February's 0.2% gain. Core CPI, excluding food and energy, came in slightly above expectations at 0.2%, the same level as in February.

U.S. consumer sentiment rose more than expected in April, a survey released on Friday showed.

Major European stock indices were down about 1% or more, following a selloff in Chinese futures over news of coming government regulation to expand short-selling and limit over-the-counter margin trading.

Focus for European markets has been on Greek Finance Minister Yanis Varoufakis' visit to meet International Monetary Fund officials, as investors become increasingly nervous about the funding crisis in Greece.

Trading was affected in Europe and Asia Friday morning by an outage on Bloomberg's trading terminal, resulting in a treasury auction in the U.K. being postponed. By 11 a.m. ET, the company said that service was fully restored.

Prices for 10-year U.S. Treasuries gained some ground, lowering yields to 1.87% from Thursday’s 1.89%. Treasury prices and yields move in opposite directions.

Oil prices docked 64 cents to $56.07 U.S.

Gold prices moved up $5.80 to $1,203.80 U.S.





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<![CDATA[Stocks in Play: Royal Gold, Inc. ]]>Fri, 17 Apr 2015 09:51:27 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=17829Friday, April 17, 2015

09:51 AM EST - Royal Gold, Inc. : announced that its wholly-owned subsidiary, RGLD Gold AG, received approximately 26,200 ounces of gold for the quarter ended March 31, 2015 from the Mount Milligan mine as part of its purchase and sale agreement with Thompson Creek Metals Company, Inc. Royal Gold, Inc. (T.RGL) shares were up $0.51 at 75.96.

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<![CDATA[Stocks in Play: NewNorth Projects Ltd.]]>Fri, 17 Apr 2015 09:51:27 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=17830Friday, April 17, 2015

09:52 AM EST - NewNorth Projects Ltd. : announced its financial results for the year ended December 31, 2014. The company reports a net loss after tax for the year of $619,000. After-tax loss per share, basic and diluted is $0.05. NewNorth Projects Ltd. (V.NNP) shares were unchanged at 0.3.

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<![CDATA[Stocks in Play: Vitreous Glass Inc.]]>Fri, 17 Apr 2015 09:51:27 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=17831Friday, April 17, 2015

09:53 AM EST - Vitreous Glass Inc. : declared a cash dividend today of $0.06 per common share to be paid on May 15, to the shareholders of record as of the close of business on May 1. Although this is a special Dividend, depending on the results of business, the Corporation hopes to be able to continue to pay dividends on a regular basis. Vitreous Glass Inc. (V.VCI) shares were unchanged at 2.78.

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<![CDATA[Stocks in Play: InterRent Real Estate Investment Trust.]]>Fri, 17 Apr 2015 09:51:27 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=17832Friday, April 17, 2015

09:54 AM EST - InterRent Real Estate Investment Trust. : announced today that its distribution declared for the month of April is $0.0183 per Trust unit, equal to $0.22 per Trust unit on an annualized basis. Payment will be made on or about May 15, to unitholders of record on April 30. InterRent Real Estate Investment Trust. (T.IIP.UN) shares were unchanged at 6.49.

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<![CDATA[Stocks in Play: Discovery Air Technical Services Inc.]]>Fri, 17 Apr 2015 09:51:27 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=17833Friday, April 17, 2015

11:42 AM EST - Discovery Air Technical Services Inc. : says its Discovery Air Technical Services Inc. subsidiary has received its Approved Maintenance Organization (AMO) Certificate from Transport Canada for the ATR42 and ATR72 series 600 of aircraft. Liat (1974) Ltd. has also signed a three-year exclusive agreement with DATS for their entire fleet. The first aircraft is set to arrive in May 2015. Discovery Air Technical Services Inc. (T.DA.A) shares were unchanged at 0.26.

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<![CDATA[Stocks in Play: CN]]>Fri, 17 Apr 2015 09:51:27 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=17834Friday, April 17, 2015

11:44 AM EST - CN : announced today that locomotive engineers in Canada represented by the Teamsters Canada Rail Conference union have ratified a new collective agreement with the company. The three-year agreement retroactive to Jan. 1, 2015, provides wage increases and benefit improvements to approximately 1,800 locomotive engineers. CN (T.CNR) shares were up $0.18 at 81.17.

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<![CDATA[Stocks in Play: Terra Firma Capital Corporation]]>Fri, 17 Apr 2015 09:51:27 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=17835Friday, April 17, 2015

11:45 AM EST - Terra Firma Capital Corporation : intends to increase its previously announced private placement to certain insiders of the Company by an additional 558,824 common shares of the Company at a price of $0.85 per Common Share for additional gross proceeds to the Company of approximately $475,000. Terra Firma Capital Corporation (V.TII) shares were down $0.07 at 0.93.

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<![CDATA[Stocks in Play: Kelt Exploration Ltd. ]]>Fri, 17 Apr 2015 09:51:27 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=17836Friday, April 17, 2015

03:34 PM EST - Kelt Exploration Ltd. : and Artek Exploration Ltd. announced the successful acquisition by Kelt of all of the issued and outstanding common shares of Artek pursuant to the previously announced plan of arrangement between Kelt, Artek and the shareholders of Artek. Kelt Exploration Ltd. (T.KEL) shares were up $0.01 at 9.03.

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<![CDATA[Stocks in Play: Artek Exploration Ltd.]]>Fri, 17 Apr 2015 09:51:27 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=17837Friday, April 17, 2015

03:35 PM EST - Artek Exploration Ltd. : and Kelt Exploration Ltd. announced the successful acquisition by Kelt of all of the issued and outstanding common shares of Artek pursuant to the previously announced plan of arrangement between Kelt, Artek and the shareholders of Artek. Artek Exploration Ltd. (T.RTK) shares were unchanged at 3.08.

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<![CDATA[A $65M Company Just Announced A Deal Potentially Worth $100M and No One Noticed]]>Fri, 17 Apr 2015 09:42:50 ESThttp://baystreet.ca/articles/stockstowatch.aspx?id=940Friday, April 17, 2015

A $65M Company Just Announced A Deal Potentially Worth $100M and No One Noticed


Moko Social Media (NASDAQ: MOKO) is one of the best ways to capture upside in the social media & mobile app space, in our view. It's also one of the only pure-play companies trading at a discount to what an acquirer would potentially pay for the Company and its impressive suite of rapidly-growing mobile apps. Most importantly, MOKO just signed a deal potentially worth $100 Million+, tapping into one of the hottest and most-desired demographics among advertisers - and no one noticed.

Earlier this month we found that acquirers were paying $20 - $150 per monthly active user to acquire hot, and rapidly-growing social media companies. MOKO has proven to have incredible retention and virality with a suite of mobile apps designed around existing but underserved social communities.

We believe an arbitrage opportunity exists between fair value and what MOKO is currently valued at, as a result of the Company's origins in Australia and limited sponsorship in the U.S markets. Conversely, the Company's NASDAQ listing finally gives U.S. investors an opportunity to own a small, pure-play name in social media apps (eg. non-gaming) and capture the upside in this exciting sector.

THE $100 MILLION NEWS THAT NO ONE IS PAYING ATTENTION TO

Last week, MOKO entered into a Memorandum of Understanding (MOU) for an exclusive partnership with [US-based] BigTeams. This marks entry of MOKO’s REC*IT platform into the high school sports market in a big way – BigTeams has ~15% market share across >4000 high schools. The US National Center for Education Statistics estimates enrollment of 16 Million students in grades 9 – 12 in 2015, which implies MOKO will have the ability to potentially capture 2.4 Million teenagers through this partnership with BigTeams (and onwards from there). Our due diligence shows acquirers have valued each monthly active user (MAU) at $20 - $150 (as shown, below).



The weighted average of the acquisitions illustrated (above) is $41.40 per MAU. This implies that the BigTeams deal could be worth upwards of $100 Million to MOKO (potential MAUs * $41.40).

If you recall, Facebook’s (NASDAQ: FB) early virality began with exclusivity - you needed a college email address to join the social network. Exclusivity has worked well for MOKO in a pilot launch of REC*IT among college students interested in intramural and extracurricular sports & activities and is likely to prove popular among their younger counterparts for the same reasons: (i) REC*IT has exclusive feeds of data and content required to power the apps and (ii) the app is exclusive to each college/social group.

REC*IT’s early traction with college students is shown, below.


Source: Company Reports

We believe that MOKO is likely to quickly monetize REC*IT with advertisers targeting the teenager demographic thanks to growth in the ‘Athleisure’ market.

REC*IT COULD POTENTIALLY BECOME AN ‘ATHLEISURE’ ADVERTISING HOT SPOT

Athleisure is one of the hottest trends in the fashion industry that the teenager demographic has amply embraced. It refers to clothing and shoes related to performance gear and sportswear outfits worn for athletic purposes and leisure activities alike. According to Piper Jaffray’s Spring 2015 Taking Stock With Teens - a semi-annual survey that studies the behavior of teenagers in regards to spending, social network activity, preferred brands, household economic data and other variables - teenagers are accountable for $75 billion of discretionary spending. The survey suggests that athletic-leisure, preppy, leggings and jogging pants are the top teen fashion trends. By category, clothing and shoes represent 20% and 8% of total spending, respectively.

Nike (NYSE: NKE) is considerably immersed in the Athleisure movement and was designated as the top preferred clothing and shoe brand by teenagers. Companies like Under Armour, Inc. (NYSE: UA) and lululemon athletica (NASDAQ: LULU) are specifically oriented towards the Athleisure movement and could be considered pure plays in the fashion trend.

Since REC*IT already stands as a social network that is specific to sports and recreation specifically, companies that produce Athleisure-related products can find in REC*IT a vertical in which their main consumer group exclusively exists. REC*IT provides companies like Nike, Under Armour and lululemon, an opportunity to promote their products directly to their intended audience. If traction among high school student users mirrors what we’ve seen so far with the college user base, REC*IT could offer one of the top mobile advertising portals in the U.S. for the demographic.

5 REASONS TO OWN MOKO NOW

In our view there are 5 reasons investors should consider owning MOKO right now.


- Unique & Proven Business Model
i. Subscription-based, premium and freemium business models are the norm. MOKO offers its social networking apps to users at no charge and monetizes the assets through premium advertisers eager to reach a highly-targeted and engaged user base.

ii. MOKO has proven across numerous verticals – politics, college sports, college social network, running enthusiasts – that users are highly engaged on their platform and use it out of necessity, not boredom. This is reflected in impressive retention numbers among new and existing users (eg. REC*IT)



- Barriers to entry for Competitors & Scalability
i. Exclusivity agreement with data providers create near-insurmountable barriers to entry for competitors. Being the only app for access to recreational sports schedules at your school, for example, helps to rapidly penetrate the total addressable user base and, importantly, keep it.

ii. MOKO has entered in exclusivity agreements across several large social groups, for instance progressive politics, which has shown considerable growth. At last count Blue Nation Review had 3.5M MAUs and could be expected to continue growing with the 2016 U.S. elections looming.



- Valued At Discount To Intrinsic Value
i. The best way we can compute what MOKO is intrinsically worth is to ask ourselves what an acquirer would potentially pay to own 100% of the Company.

ii. Research shows acquirers will pay ~$40 per MAU - on the lower end - to own a fast-growing social media company.

iii. At year-end 2014, MOKO had 5 Million MAUs. This would imply, at $40/MAU, an intrinsic value of $200 Million versus MOKO’s enterprise value of just $65 Million, or >200% in potential upside. This does not factor in the expected 10-15 Million MAUs management has targeted for year-end 2015.



- Near-Term Profitability
i. MOKO has built an enviable user-base and erected huge barriers to entry for competitors with rather limited resources.

ii. Cost management and fixed overhead suggest top-line growth will almost immediately accrete to bottom-line results.

iii. Management has indicated profitability is a top priority and we believe this could become reality in the next 12 months.



- Management Team with Track-Record of Value Creation, Now Building MOKO
i. MOKO is led by impeccable management and directors with track-records for value creation

ii. 75+ years of cumulative senior management/executive experience in Fortune 500 firms, creating, running or overseeing marketing/advertising and financial operations

iii. Directors with extensive experience building and overseeing firms with $100M+ in annual revenues and involvement in successful M&A exits

iv. Management has a meaningful equity stake in MOKO and is therefore incentivized to build shareholder value


We believe investors in King Digital (NYSE: KING), Zynga (NASDAQ: ZNGA), Gluu Mobile (NASDAQ: GLUU) et al. would find owning MOKO a good way to diversify in the niche mobile app space by owning a Company with a unique and de-risked business model. We expect that as quarterly earnings come into focus, MOKO will guide on user growth and traction for the first time since reporting year-end 2014 numbers, which were related to soft-launches of key products, for instance REC*IT.

Any traction towards the 10-15 Million MAUs by YE2015 could create a catalyst for shares to breakout. As MOKO gains visibility with U.S. investors, we anticipate the Company will trend towards its intrinsic value.

About One Equity Research

One Equity Research is a leading provider of proprietary and in-depth research crafted by respected financial analysts and domain experts. Our team includes trained finance professionals with diverse backgrounds in equity research, investment banking, and strategic consulting at preeminent firms. We distribute our research through mainstream media partners and to subscribers of our Intelligence Service. To learn more please visit http://www.oneequityresearch.com/

Legal Disclaimer: This research note has been prepared by One Equity Research, LLC on behalf of Moko Social Media, as part of research coverage services. One Equity Research has been compensated ten thousand dollars for coverage of Moko. This research note is not an offer or solicitation to buy or sell the securities of the Company. The report is for information purposes only, and is not intended to (and is provided explicitly on the condition that it not) be used as the sole basis to make any investment decision. Investors should make their own determinations whether an investment in any particular security is consistent with their investment objectives, risk tolerance, and financial situation.

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<![CDATA[Data could boost Canadian dollar ]]>Fri, 17 Apr 2015 09:45:27 ESThttp://baystreet.ca/articles/forex_trader.aspx?id=21523
Experts expect a range today of $1.2050 to $1.2184 Canadian for the U.S. dollar.

The euro is down 90 bps from yesterday’s close. Euro-zone CPI data was in line with expectations as the headline printed at -0.1% y/y and core at 0.6% y/y. The April 24 meeting will be significant, as the Greece situation is still the main focus. The euro, yet again, broke a fresh low and is now trading at $1.3056 Canadian.

Observers expect a range today of $1.30 to $1.307 Canadian

The Great British Pound is down 50 bps from yesterday’s close at $1.8174 Canadian. Employment data was upbeat, as 248,000 jobs were added 3m/3m, unemployment rate dropped to 5.6% and jobless claims were better than expected printing at -20.7K. The May 7 election is still a risk. The sterling broke another fresh low of $1.8148 Canadian and is looking for the next support levels at 1.8115.

The Australian and New Zealand dollars are both better supported today, benefiting from the shift to U.S. dollar weakness. A rebound in commodity prices also helped to boost the currencies. The Aussie opens at $0.9433 Canadian this morning while the kiwi opened at $0.9298 Canadian.

Data Releases

CAD: CPI + Retail Sales

AUD: No data

EUR: No data

GBP: Employment Data

JPY: Consumer Confidence

NZD: No data

USD: CPI + University of Michigan Confidence]]>
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