Baystreet.ca RSS Feed http://www.baystreet.ca/rss/MasterRSS.aspx en-us Copyright (c) 2018 Baystreet.ca Inc. All rights reserved. 8/16/2018 3:42:02 AM <![CDATA[Iron Bridge Resources "SECTOR PERFORM"]]>Wed, 15 Aug 2018 11:59:00 ESThttp://baystreet.ca/articles/analyst_ratings.aspx?41299<![CDATA[Surprise leap in crude stockpiles weigh on oil prices ]]>Wed, 15 Aug 2018 11:48:00 ESThttp://baystreet.ca/articles/commodities.aspx?id=2296Wednesday, August 15, 2018


Surprise leap in crude stockpiles weigh on oil prices


Petroleum prices extended losses on Wednesday after U.S. government data showed a big, unexpected jump in crude stockpiles, compounding pressure as the outlook for global economic growth darkened and the stock market slumped.

Global benchmark Brent crude oil was down $1.78, or 2.4%, at $70.68 U.S. late Wednesday morning, after hitting a four-month low at $70.40 U.S..

U.S. light crude fell $2.18 a barrel, or 3.3%, to $64.86 U.S., bouncing off an eight-week low of $64.60.

Data released Wednesday by the U.S. Energy Information Administration (EIA) showed U.S. commercial crude inventories rose by 6.8 million barrels in the week leading up to and including Aug. 10. Analysts had forecast stockpiles would fall by 2.5 million barrels.

The jump in stocks occurred as the nation's crude imports surged by one million barrels a day (bpd), while its exports fell by more than 250,000 bpd. That offset record activity at American refineries, which ran at 98% capacity

Stocks at the U.S. delivery hub at Cushing, Oklahoma rose by 1.6 million barrels. The East and West coasts both saw inventory levels jump by more than two million barrels.

Stockpiles of gasoline were down slightly more than expected, while inventories of distillate fuels, including diesel and home heating fuel, rose by 3.6 million barrels, more than three times the increase projected in the economist poll.

An ongoing trade dispute between the United States and China also continues to feed concerns that global economic growth will slow and ultimately shrink demand for oil.

The Organization for Economic Cooperation and Development's composite leading indicator, which covers the western advanced economies plus China, India, Russia, Brazil, Indonesia and South Africa, peaked in January but has since fallen and slipped below trend in May and June.

Not a single tanker has loaded crude oil from the United States bound for China since the start of August, compared with about 300,000 barrels per day (bpd) in June and July.

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<![CDATA[Himax Report Sends Mixed Signals]]>Wed, 15 Aug 2018 06:44:00 ESThttp://baystreet.ca/articles/techinsider.aspx?id=1362Wednesday, August 15, 2018

Himax Report Sends Mixed Signals


3D sensing, photonics, and lasers are an area of growth, if you look at the earnings report from Lumentum (NASDAQ: LITE), II-VI (NASDAQ: IIVI), and Acacia (NASDAQ: ACIA). For Himax Technologies (NASDAQ: HIMX), the market it is carving in 3D sensing in smartphones is a potential growth catalyst. Yet in the second quarter earnings report, trouble looms.

Himax is at least six months away from a Huawei ASC 3D. The base business weakened during the quarter. Management guided for flat revenue but talked about higher WLO sales. The company made little to mention of OLED Display Driver sales, other than in autos. OLED driver revenue is lacking, also.

On the conference call, Jordan Wu explained the uncertainties around time-of-flight for 3D sensing: Time-of-flight is a more uncertain anymore as far as we can tell for now. We will probably have a better picture next year. We are aware of a project, which the customer adopt time-of-flight for main camera, 3D sensing. And the reason why time-of-flight is chosen is for – to take advantage of this longer range. So structured light or ASC for front camera, for, it’s only within one metre.

Until more software plays enter the 3D sensing application space, uptake of the hardware technology may lag. Himax’s sales prospects are still not guaranteed. It has several leading smartphone names to mention as partners but widespread adoption has yet to play out. 2019 is the year this may happen.

Your takeaway

HIMX stock is overvalued if prospects don’t play out or undervalued if orders do come in. Time will tell. And the waiting time on HIMX stock to see what happens next is at least another three months more.

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<![CDATA[Economic Calendar]]>Thu, 16 Aug 2018 03:42:02 ESThttp://baystreet.ca/articles/econ_calendar.aspx?id=18125August 2018
 

DATE

STATISTIC FOR CURRENT MONTH PREVIOUS MONTH
Wednesday, August 01, 2018 Markit Canada Manufacturing PMI: 9:30 am July At 56.9 in July, the seasonally-adjusted IHS Markit, Canada Manufacturing Purchasing Managers’ Index fell only slightly from June’s survey record high of 57.1 and remained indicative of a strong improvement in overall business conditions. The IHS Markit Canada Manufacturing Purchasing Managers’ Index (PMI), a measure of manufacturing business conditions, rose to a seasonally adjusted 57.1 last month from 56.2 in May. A reading above 50 shows growth in the sector.
Friday, August 03, 2018 Canadian International Merchandise Trade: 8:30am June Canada's merchandise trade deficit with the world narrowed from $2.7 billion in May to $626 million in June, the smallest deficit since January 2017. Exports increased 4.1%, while imports edged down 0.2% Canada's merchandise trade deficit with the world totaled $2.8 billion in May, widening from a $1.9 billion deficit in April. Imports rose 1.7% while exports edged down 0.1%.
Tuesday, August 07, 2018 IVEY Purchasing Managers Index: 10:00am July Western University’s IVEY School of Business reported its Purchasing Managers Index (PMI) came in for July at 61.8, down from June’s reading of 63.1, and July 2017's level of 60 Western University’s IVEY School of Business reported its Purchasing Managers Index (PMI) came in for June at 63.1, up from May’s reading of 62.5, and a 61.6 level for June 2017.
Wednesday, August 08, 2018 Building Permits: 8:30am June In June, Canadian municipalities issued $8.1 billion worth of building permits, down 2.3% from the previous month. The value of permits issued by Canadian municipalities increased 4.7% to $8.2 billion in May.
Thursday, August 09, 2018 Housing Starts: 8:15am July The trend in housing starts was 219,988 units in July 2018, compared to 221,738 units in June 2018, according to Canada Mortgage and Housing Corporation Canada Mortgage and Housing Corp. says the annual pace of home building increased in June, boosted by a jump in multi-unit projects. CMHC says the seasonally adjusted annual rate of housing starts increased to 248,138 units in June, up from 193,902 in May.
Thursday, August 09, 2018 New Housing Price Index: 8:30am June New home prices increased in June, marking the first upward movement since November 2017. Canadian new house prices remained unchanged on a national basis in May, for a third consecutive month.
Friday, August 10, 2018 Labour Force Survey: 8:30am July Employment rose by 54,000 in July, driven by gains in part-time work. The unemployment rate declined by 0.2 percentage points to 5.8%. After two consecutive months of little change, employment rose by 32,000 in June. With more people searching for work, the unemployment rate increased by 0.2 percentage points to 6.0%. Compared with June 2017, employment increased by 215,000 or 1.2%, with all the growth in full-time work. Over the same period, total hours worked grew by 1.4%.
Wednesday, August 15, 2018 CREAstats - MLS Sales: 8:30am July Resales of Canadian homes rose 1.9% in July from June, notching the third straight monthly rise but remaining below the highs seen in recent years, the Canadian Real Estate Association said on Wednesday. Statistics released today by the Canadian Real Estate Association (CREA) show national home sales rose 4.1% from May to June. Actual (not seasonally-adjusted) activity was down 10.7% from June 2017.
Thursday, August 16, 2018 Monthly Survey of Manufacturing: 8:30am June --- Manufacturing sales increased 1.4% to $57.1 billion in May, led by the chemical, machinery, and wood product industries.
Friday, August 17, 2018 Canada's International Transactions in Securities: 8:30am June --- Foreign investment in Canadian securities slowed to $2.2 billion in May, down from $9.1 billion in April. Meanwhile, Canadian investors resumed their investment in foreign securities by adding $5.7 billion worth to their holdings, mainly in foreign bonds.
Friday, August 17, 2018 Consumer Price Index: 8:30am July --- The Consumer Price Index rose 2.5% on a year-over-year basis in June, following a 2.2% increase in May. On a seasonally adjusted monthly basis, the CPI was up 0.1% in June, matching the increase in May.
Tuesday, August 21, 2018 Wholesale Trade: 8:30am June --- Wholesale sales rose 1.2% to a record $63.7 billion in May. Sales were up in four of seven sub-sectors, representing approximately 50% of total wholesale sales.
Wednesday, August 22, 2018 Retail Trade: 8:30am June --- Retail sales increased 2.0% in May to $50.8 billion, following a 0.9% decline in April. Sales rose in eight of 11 sub-sectors, representing 70% of retail trade.
Thursday, August 23, 2018 Employment Insurance: 8:30am June --- In May, 454,100 people received regular Employment Insurance benefits, virtually unchanged from April.
Thursday, August 30, 2018 Average Weekly Earnings June --- The average weekly earnings of non-farm payroll employees totalled $998 in May, up 0.4% from April following five months of virtually no change. In the 12 months to May, earnings increased by 2.9%.
Thursday, August 30, 2018 GDP: 8:30am June --- Real gross domestic product was up 0.5% in May, after increasing 0.1% in April. The rise was widespread as 19 of 20 industrial sectors registered increases.
Friday, August 31, 2018 Industrial Product Price Index: 8:30am July --- The Industrial Product Price Index rose 0.5% in June, primarily as a result of higher prices for primary non-ferrous metal products and motorized and recreational vehicles
Friday, August 31, 2018 Raw Materials Price Index: 8:30am July --- The Raw Materials Price Index rose 0.5%, mainly on the strength of higher prices for animals and animal products and metal ores, concentrates and scrap.
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<![CDATA[Home prices up for first time this year on monthly basis ]]>Wed, 15 Aug 2018 03:54:00 ESThttp://baystreet.ca/articles/economiccommentary.aspx?id=2343Home prices up for first time this year on monthly basis


Figures released Wednesday by the Canadian Real Estate Association showed a reverse for the better.

They showed the average price of a Canadian home was $481,500 last month, a rise of 1% in the past year.

CREA said July marked the first time this year that average house prices eked out an annual increase, as the impact of tougher mortgage rules implemented earlier this year is starting to wane.

After years of annual increases that frequently touched the double digits, Canadian house prices have cooled considerably in recent months, especially after the implementation of the new mortgage stress test rules that hold borrowers to higher income standards, which has resulted in less borrowing or taking some people out of the market entirely.

Prices inched higher but July saw the total number of homes sold during the month decline compared to last year, by 1.3%. But after a big plunge at the start of the year, the monthly sales figure has now ticked up for three months in a row.

Average prices barely cleared breakeven on an annual basis for the first time since the start of the year.

But CREA says the average isn't the most accurate way of assessing house prices because it's skewed by activity in big cities like Toronto and Vancouver, and by certain types of housing. So it calculates another number — called the Multiple Listings Service Housing Price Index (MLS HPI) — that is says is a better gauge of the overall market because it strips out all the volatility.

By that measure house prices in Canada have increased slightly in the past year, by 2.1% up to July.

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<![CDATA[Asia slips as markets shrug off N.A, relief rally ]]>Wed, 15 Aug 2018 06:36:00 ESThttp://baystreet.ca/articles/foreignmarketwrap.aspx?id=2946Wednesday, August 15, 2018

Asia slips as markets shrug off N.A, relief rally


Asian shares closed mostly lower in Wednesday trade, shrugging off the positive tone on Wall Street, as the dollar held firm in the wake of Turkey's currency crisis.

In Japan, the Nikkei 225 retreated 151.86 points, or 0.7%, to 22,204.22, following the last session's near 500-point bounce. Most sectors finished the day lower, with the oil and coal products sector among the worst-performing, while financials and technology also recorded declines. Among heavyweights, SoftBank Group dropped 2.6% and Fast Retailing slipped 0.5% for the day.

Against the yen, the U.S. dollar extended gains to trade at 111.21

In Hong Kong, the Hang Seng stumbled 429.34 points, or 1.6%, to 27,323.59, with losses in tech and materials weighing on the index. Amid the broad declines, tech giant Tencent sank 3.2%, extending losses after Tuesday's news that it had pulled a video game from one of its platforms.

In individual movers, Hong Kong-listed shares of Wynn Macau lost 4.3%, after Jefferies on Tuesday downgraded Wynn Resorts to hold, from buy. Other casino stocks in Hong Kong also fell, with Melco International Development falling 3.2% before the market close.

Australian stocks firmed through the session. The heavily weighted financials sector, however, came under pressure, weighed down by Commonwealth Bank of Australia's 2.5% fall amid an ongoing financial sector inquiry in the country.

Meanwhile, Australian biotechnology company CSL bounced 6.4% after reporting full-year net profit rose 29% to $1.73 billion for the 12 months ending June 30. The company expected net profit for the 2019 financial year to grow between 10% and 14% compared to 2018.

The Turkish lira firmed during Wednesday Asia trade after firming some 8% in the last session. The currency traded at 6.2080 to the U.S. dollar, compared to the record low of 7.24 set earlier this week.

The lira's recent steep fall was triggered last week by increased U.S.-Turkey tensions over the detention of an American pastor in Turkey, but weakness in the currency also came against the backdrop of economic issues faced by the country.

CHINA

In Shanghai, the CSI 300 lost 80.93 points, or 2.4%, to 3,391.98, with health care and consumer stocks among the worst-performing sectors.

This decline came a day after the release of expectation-missingfixed asset investment and industrial output data on Tuesday.

In other markets

Korean markets were shuttered for holiday

In Singapore, the Straits Times STI index fell 8.75 points, or 0.3%, to 3,234.12

In Taiwan, the Taiex index tumbled 107.48 points, or 1%, to 10,716.75

In New Zealand, the NZX 50 gained 15.55 points, or 0.2%, to 8,987.49

In Australia, the ASX 200 added 29.39 points, or 0.5%, to 6,329.02






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<![CDATA[Big hike for U.S. retail sales ]]>Wed, 15 Aug 2018 08:52:00 ESThttp://baystreet.ca/articles/globalmarkets.aspx?id=2146Retail sales south of the border rose more than expected last month as households boosted purchases of motor vehicles and clothing, suggesting the economy remained strong early in the third quarter.

Figures released Wednesday by the Commerce Department said retail sales increased 0.5% in July. But data for June was revised lower to show sales gaining 0.2% instead of the previously reported 0.5% rise.

Economists had forecast retail sales nudging up 0.1% in July. Retail sales in July increased 6.4% from a year ago.

Excluding automobiles, gasoline, building materials and food services, retail sales advanced 0.5% last month after a downwardly-revised 0.1% dip in June. These so-called core retail sales correspond most closely with the consumer spending component of gross domestic product.

Consumer spending is being supported by a tightening labour market, which is steadily pushing up wages. Tax cuts and higher savings are also underpinning consumption.

July's increase in core retail sales suggested the economy started the third quarter on solid footing after logging its best performance in nearly four years in the second quarter.

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<![CDATA[IPO Center - TSX-V]]>Fri, 05 Jan 2018 08:59:00 ESThttp://baystreet.ca/articles/ipo_tsx.aspx?id=10023 Company Name Ticker Date Clarmin Explorations Inc. CX 05-01-2018 Imperial Mining Group IPG 16-01-2018 Neptune Dash Technologies Corp. DASH 19-01-2018 First Legacy Mining Corp. FLM 19-01-2018 Savanna Capital Corp. SAC.P 22-01-2018 Darien Resource Development Corp. DRR 25-01-2018 AAJ Capital 1 Corp. AAJ.P 30-01-2018 Allegiant Gold Ltd. AUAU 30-01-2018 Gabriel Resources Ltd. GBU 01-02-2018 Metalla Royalty & Streaming Ltd. MTA 02-02-2018 Baetis Ventures Ltd. BATS.P 07-02-2018 POCML 4 Inc. POCM.P 09-02-2018 Platform Eight Capital Corp. PEC.P 12-02-2018 AIM2 Ventures Inc. AIMV.P 14-02-2018 Ridgestone Mining Inc. RMI 16-02-2018 Meridius Resources Limited MRI 22-02-2018 Anquiro Ventures Ltd. AQR.P 23-02-2018 Spirit Banner Capital Corp. SBCC.P 26-02-2018 Skyscape Capital Inc. SKY.P 06-03-2018 Blue Bay Capital Inc. BLUE.P 12-03-2018 Apolo III Acquisition Corp. APII.P 12-03-2018 Ring the Bell Capital Corp. RTB.P 12-03-2018 Aumento Capital VII Corporation AUOC.P 13-03-2018 Mobi724 Global Solutions Inc. MOS 14-03-2018 RMR Science Technologies Inc. RMS.P 15-03-2018 Pacific Empire Minerals Corp. PEMC 20-03-2018 Murchison Minerals Ltd. MUR 20-03-2018 Mira X Acquisition Corp. MIRA.P 21-03-2018 Two Owls Ventures Corp. OWL.P 26-03-2018 Predator Blockchain Capital Corp. PRED.P 02-04-2018 Apolo III Acquisition Corp. AIII.P 04-04-2018 Apolo III Acquisition Corp. AIII.P 04-04-2018 Resaas Services Inc. RSS 04-04-2018 ECC Ventures 2 Corp. ETWO.P 18-04-2018 ECC Ventures 1 Corp. EONE.P 18-04-2018 Pine Trail Capital Trust PINE.P 20-04-2018 The Alkaline Water Company Inc. WTER 25-04-2018 Norwick Capital Corp. NWK.P 30-04-2018 MG Capital Corporation MGX.P 30-04-2018 Namaste Technologies Inc. N 02-05-2018 Ironwood Capital Corp. IRN.P 03-05-2018 Commerce Acquisition Corp. CAQ.P 07-05-2018 Collingwood Resources Corp. COLL.P 10-05-2018 Solstice Gold Corp. SGC 14-05-2018 Tailwind Capital Corporation TW.P 15-05-2018 Navion Capital Inc. NAVN.P 18-05-2018 OWL Capital Corp. OCC.P 18-05-2018 Rider Investment Capital Corp. RDR.P 18-05-2018 Almadex Minerals Ltd. DEX 25-05-2018 Foreshore Exploration Partners Corp. FORE.P 29-05-2018 Rainy Hollow Ventures Inc. RHV.P 29-05-2018 High Mountain Capital Corporation BUZD.P 30-05-2018 PowerOre Inc. PORE 01-06-2018 Cinaport Acquisition Corp. II CPQ.P 06-06-2018 Altus Strategies Plc ALTS 06-06-2018 Quendale Capital Corp. QOC.P 07-06-2018 Magnitude Mining Ltd. MML.P 07-06-2018 Foremost Ventures Corp. FMV.P 15-06-2018 Elephant Hill Capital Inc. EH.P 15-06-2018 ADL Ventures Inc. AVI.P 25-06-2018 Engineer Gold Mines Ltd. EAU 26-06-2018 Schooner Capital Corp. SCH.P 27-06-2018 Platform 9 Capital Corp. PN.P 28-06-2018 Big Dougie Capital Corp. STUV.P 11-07-2018 Good2Go Corp. GOTO.P 17-07-2018 Premier Diversified Holdings Inc. PDH 19-07-2018 Clear Blue Technologies International Inc. CBLU 19-07-2018 Red River Capital Corp. XBT.P 25-07-2018 Havilah Mining Corporation HMC 25-07-2018 Sanibel Ventures Corp. SBEL.P 27-07-2018 DC Acquisition Corp. DCA.P 31-07-2018 Hoist Capital Corporation HTE.P 14-08-2018 Luckystrike Resources Ltd. LUKY 14-08-2018 Orletto Capital II Inc. OLT.P 15-08-2018]]><![CDATA[Stocks punished Wednesday]]>Wed, 15 Aug 2018 04:22:00 ESThttp://baystreet.ca/articles/marketupdates.aspx?id=7472Wednesday, August 15, 2018

16:22 PM EST
Stocks punished Wednesday

Gold, materials bruised, as health-care recovers



Stocks in Canada’s largest market got right belted Wednesday, as international trade tensions continued to raise their heads, particularly those involving Turkey and the U.S.

The S&P/TSX Composite Index plummeted 182.17 points, or 1.1%, to end Wednesday at 16,148.50

The Canadian dollar faded 0.47 cents to 76.14 cents U.S.

Gold stocks did most of the tumbling, with Goldcorp jettisoning 72 cents, or 4.9%, to $14.12, while Kinross Gold shaving off 26 cents, or 6.5%, to $3.77.

Shares of First Majestic Silver fell 64 cents, or 8.7%, to $6.70, top laggard on the TSX, followed by shares of First Quantum Minerals, which were down $1.27, or 7.3%, to $16.23.

In the energy field, Suncor Energy doffed $2.26, or 4.2%, to $51.58, while Imperial Oil gave back $1.47, or 3.5%, to $40.81.

The health-care sector hiked, boosted by shares of Canopy Growth Co, which jumped $10.32, or 32.1%, to $42.47, after Corona beer maker Constellation Brands said it would invest a further $4 billion in the cannabis producer.

Top percentage gainers on the TSX also included shares of Aurora Cannabis, which rose $1.04, or 19.5%, to $6.38.

In the real estate sector, Boardwalk REIT gained 25 cents to $50.31, while Brookfield Asset Management nosed up half a cent to $56.85

In telecoms, Rogers Communications was in the green 47 cents to $68.49.

On the economic calendar, re-sales of Canadian homes rose 1.9% in July from June, notching the third straight monthly rise but remaining below the highs seen in recent years, the Canadian Real Estate Association said on Wednesday.

The industry group said actual sales, not seasonally adjusted, fell 1.3%, while the group’s Home Price Index was up 2.1% from July 2017.

ON BAYSTREET

The TSX Venture Exchange parted with 5.91 points to 667.88

All but three of the 12 subgroups were still negative, with gold subtracting 5.7% of its value, materials weakening 4.3%, and energy falling 3.6%

The three gainers were health-care, leaping 12.1%, while real-estate gained 0.4%, and telecoms, up 0.3%.

ON WALLSTREET

U.S. stocks fell on Wednesday as declines in tech shares and Macy's dampened investor sentiment. Equities also followed overseas stocks lower.

The Dow Jones Industrial Average got hit 137.51 points to 25,162.41

The S&P 500 slouched 21.59 points to 2,818.27

The NASDAQ went south 96.78 points, or 1.2%, to 7,774.12

The Dow and NASDAQ both broke below their 50-day moving averages, while the S&P 500 was approaching it.

The major indexes trimmed losses late in the day after media reports that the White House is preparing to expand rules favoring American products in government projects.

Tech, the largest sector by weight in the S&P 500, fell more than 1% as a disappointing quarterly report from Chinese tech giant Tencent weighed. Tencent's U.S.-listed shares dropped 6.7% after reporting its slowest revenue growth rate since 2015. Shares of U.S. tech giants Facebook, Apple and Alphabet all dropped. Other Chinese tech stocks like Alibaba and JD.com also fell.

Meanwhile, Macy's shares dropped nearly 16% as the company's quarterly report showed it is struggling to grow sales. The company posted better-than-expected quarterly earnings and revenue, but its sales still fell on a year-over year basis.

Bank shares fell broadly as Bank of America and Citigroup both dropped more than 1%. J.P. Morgan Chase also fell 0.8%.

Energy shares fell 3% and were the worst performers in the S&P 500 as U.S. crude dropped 3.2% after the Energy Information Administration said U.S. stockpiles rose by 6.8 million barrels.

Retail sales in the U.S. rose more than expected last month, gaining 0.5% in July versus economists’ estimates of 0.1%. The U.S. Commerce Department's report also showed a year-over-year increase of 6.4%.

A Turkish regulator said Wednesday it was limiting banks' currency swap transactions. The move is likely aimed at curbing short selling against the lira, which has recently taken a beating.

The Turkish lira fell to a record low earlier this week as global investors fear Turkey's economic troubles could spell trouble for other economies around the world. Last month, Turkey's inflation rate hit 16%, well above the central bank's 5% target.

Prices for the benchmark for the 10-year U.S. Treasury spiked, dropping yields to 2.86% from Tuesday’s 2.9%. Treasury prices and yields move in opposite directions.

Oil prices stumbled $2.15 at $64.89 U.S. a barrel.

Gold prices slid $18.30 to $1,182.40 U.S. an ounce.




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<![CDATA[Stocks in Play: Jaguar Mining Inc.]]>Wed, 15 Aug 2018 10:46:55 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=25710Wednesday, August 15, 2018

10:47 AM EST - Jaguar Mining Inc. : Announced financial results for the three months ended June 30, 2018. All figures are in U.S. dollars, unless otherwise expressed. Revenue for the quarter came in at $22.9 million, compared to $23.3 million in the prior-year quarter. Net loss was $3.3 million, compared to $1.3 million in the prior-year quarter. Jaguar Mining Inc. (T.JAG) shares were down $0.08 at 0.19.

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<![CDATA[PFGC skids on earnings figures ]]>Wed, 15 Aug 2018 10:36:05 ESThttp://baystreet.ca/articles/stockstowatch.aspx?id=4311Wednesday, August 15, 2018

PFGC skids on earnings figures


Performance Food Group Company (NYSE: PFGC) shares went for a nose dive as the company reported quarterly earnings Wednesday.

The Richmond, Virginia-based firm reported fourth-quarter net sales increased 3.7% to $4.6 billion. Net income grew 59.4% to $64.4 million.

For the full fiscal year, net sales increased 5.1% to $17.6 billion. Net income grew 106.3% to $198.7 million.

According to CEO George Holm, "Vistar had an exceptional year as the strategic investments we made 18 months ago paid dividends in the fourth quarter and will fuel growth in the coming years. In Performance Foodservice, we are making strategic investments in people and technology to support our growth objectives.

"Looking ahead, we believe we are well-positioned across our businesses for another fiscal year of double-digit adjusted earnings growth."

For fiscal 2018, PFG generated $367.0 million in cash flow from operating activities, an increase of $165.3 million versus the prior year period. The improvement in cash flow from operating activities was largely driven by higher operating income, lower taxes paid and improvements in working capital.

For fiscal 2018, PFG invested $140.1 million in capital expenditures, in line with capital spending versus prior year. PFG delivered free cash flow of $226.9 million, an increase of approximately $165.4 million.

For fiscal 2019, PFG expects Adjusted EBITDA growth to be in a range of 7% to 10% over its fiscal 2018 Adjusted EBITDA of $426.7 million. The company expects that the 7% to 10% Adjusted EBITDA growth for fiscal 2019 will reflect first half growth in the low-to-mid single-digit range.

Shares let go of $4.85, or 12.9%, to $32.80

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<![CDATA[USD/CAD - FX Outlook August 2018]]>Wed, 15 Aug 2018 03:10:43 ESThttp://baystreet.ca/articles/forex_trader.aspx?id=41326
During the month of July, the Canadian dollar and economy rose slightly, as the month showed unchanged interest rate spreads with United States (U.S.). The Bank of Canada (BOC) raised its interest rates by a level of 0.25% now sitting at the current level of 1.50%, which was factored into market conditions for the Canadian economy. Concerns with the North American Free Trade Agreement continuously showed on the downward pressure of the loonie and economy as negotiations are still been very unclear to whether there will be a potential trade agreement in the near future, however, they have stated they will continue talks in the near term. If negotiations become clearer this will result in the appreciation of the Canadian dollar and economic outlook, which would also continue down the path of the BOC tight policy tightening. The month ended off with concerns arising with some political backlash with Saudi Arabia instructing overseas asset managers to sell off their Canadian holdings resulting in a decline of the loonie, with future impact yet to be priced in and analyzed.

The U.S. economy held a good standing for the month of July as the Federal Reserve was staying firm on tightening its monetary policy. The Fed also decided to leave the current fund rate unchanged at the current level of 1.75-2.00%, however, the bank was hinting at a potential hike in the near future as the economy is still going strong and the greenback is factoring the next hike into current market conditions. Projections of the U.S economy are showing that growth is currently on track to its Q4 level of 3%. The end of the month posted the U.S labour market creating 215K job per month on average for the first seven months of 2018, while the jobless rate showed a level of 3.9%. With these strong results, the U.S is still showing great strength and has resulted in the Fed to maintain its hawkish tone towards its current monetary policy.

Recent data being released by major Canadian financial institutions has indicated a better outlook of the Canadian economy than the previous month. However, U.S. strength has been substantial over the past month with labour statistics leading the way. Most of these institutions have updated their figures reflecting in a moderate alteration, showing potential economic stability in the Canadian economy and a potential for U.S. growth through the short-term with much uncertainty surrounding NAFTA as talks progress.

The U.S. dollar and the Federal Reserve:
After consecutive monthly increases, we saw the U.S. dollar decline more than 1% against the Canadian dollar in the month of July. Although the U.S. dollar did take a fall, there are speculations of a rebound where the greenback would capitalize on more favorable interest rate spreads from tightening of U.S. monetary policy. A September rate hike is almost fully priced in by markets, but expect to see the U.S. dollar get an additional boost in August due to a strong economic outlook and protectionism. This momentum is not expected to last long term as there are speculations of a weaker USD for 2019 as rate differentials will fade and reverse as other major central banks tighten policy.

The Canadian dollar and Bank of Canada:
The Canadian dollar did rebound against the U.S. dollar in the month of July to gain 1%. The forecast for the loonie to appreciate after Q3 is based on a trade deal being reached by Washington and Ottawa which may not happen until next year. However, if a trade deal were to be reached this year, the Canadian dollar’s appreciation could be significant. If this were to happen then all trade related uncertainties would end which would improve the economic outlook. This would increase odds of policy tightening by the Bank of Canada and improve the Canada-US interest rate spreads. With the fed hiking by 125 bps over the coming six quarters, expect the USD/CAD rate to range between 1.25-1.35 for the next 12 months.

Oil Prices

Oil prices started the month of July gaining momentum as expectations of WTI oil supply shortages kept the price of WTI at $75 level. Throughout the month of July, concerns with these oil shortages continues to arise as Venezuela was closing one of its oil refineries resulting in crude oil prices to gaining some traction. Concerns with the U.S. and Iran caused the price of oil to drop to a level of $69 after remarks from the Iranian Foreign Minister confirming that country would continue to export oil as the U.S will continue to halt it. Currently the price of WTI is sitting around the $67 level. We can continue to watch the price of oil as continual rises will result in a boost for the commodity-linked loonie.

Rahim Madhavji is the President of KnightsbridgeFX.com, a Canadian currency exchange that provides better rates than the banks to Canadians

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<![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.
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<![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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