BAYSTREET RSS FEED http://www.baystreet.ca/rss/MasterRSS.aspx en-us Copyright (c) 2014 Baystreet.ca Inc. All rights reserved. 11/24/2014 1:18:25 AM <![CDATA[Chinook Energy "BUY"]]>Wed, 19 Nov 2014 07:26:48 ESThttp://baystreet.ca/articles/analyst_ratings.aspx?19990<![CDATA[Supply increase drives crude lower]]>Wed, 19 Nov 2014 12:00:00 ESThttp://baystreet.ca/articles/commodities.aspx?id=536Wednesday, November 19, 2014


Supply increase drives crude lower


U.S. crude supplies rose by 2.6 million barrels in the week ended Nov. 14, the Energy Information Administration reported Wednesday.

That contrasted with analyst expectations of a decline by 660,000 barrels, according to Platts. The EIA also said gasoline inventories increased by one million barrels, and supplies of distillates, which include heating oil, were down by 2.1 million barrels in the week.

The analysts surveyed by Platts had expected gasoline supplies to increase by 600,000 barrels and distillates stocks to decrease by 1.2 million barrels.

Following the surprise increase in crude supplies, crude-oil futures extended losses, and the December contract was recently down 16 cents, or 0.2%, to $74.55 U.S. a barrel on the New York Mercantile Exchange.

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<![CDATA[Nokia out with new tablet]]>Tue, 18 Nov 2014 12:00:00 ESThttp://baystreet.ca/articles/techinsider.aspx?id=504Tuesday, November 18, 2014

Nokia out with new tablet


Finland's Nokia announced a brand-licensed tablet computer which runs on Google's Android platform, just six month after the company sold its ailing phones and devices business to Microsoft for over $7 billion U.S.

Nokia said the manufacturing, distribution and sales of the N1 tablet will be handled by Taiwan's Foxconn.

Sebastian Nystrom, the head of products at Nokia's Technologies unit, said the company was looking to follow up with more devices in the future.

The tablet, which sports Nokia's own interface, is planned to be in stores in China in the first quarter of next year for an estimated price of $249 U.S. before taxes with sales to expand to other markets after that.

After the 5.6-billion-euro deal with Microsoft, Nokia was left with its network equipment and services business plus its smaller HERE mapping and navigation business and Technologies unit, which manages licensing payments on its patents and conducts research and development.

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<![CDATA[Economic Calendar]]>Mon, 24 Nov 2014 01:18:25 ESThttp://baystreet.ca/articles/econ_calendar.aspx?id=18125November 2014
 

DATE

STATISTIC FOR CURRENT MONTH PREVIOUS MONTH
Tuesday, November 04, 2014 Canadian international merchandise trade: 8:30am Sept Canada's merchandise imports declined 1.5% in September, while exports rose 1.1%. As a result, Canada's trade balance with the world went from a deficit of $463 million in August to a surplus of $710 million in September. Canada's merchandise imports rose 3.9% in August, while exports decreased 2.5%. As a result, Canada's trade balance with the world went from a surplus of $2.2 billion in July to a deficit of $610 million in August.
Thursday, November 06, 2014 IVEY purchasing managers index: 10:00am Oct Western University said its IVEY purchasing managers’ index fell to 51.2 last month from 58.6 in September. Analysts had expected the index to decline to 57.0 in October. Western University’s Ivey PMI data for September came in at 58.6, compared to 50.9 in August, and 51.9 in September 2013.
Thursday, November 06, 2014 Building Permits: 8:30am Sept Municipalities issued building permits worth $7.5 billion in September, up 12.7% from August, following a 27.3% decrease the previous month. The total value of building permits issued by Canadian municipalities fell 27.3% to $6.7 billion in August, following three months of double-digit increases.
Friday, November 07, 2014 Labour Force Survey: 7:00am Oct Employment rose for the second consecutive month, up 43,000 in October. This pushed the unemployment rate down 0.3 percentage points to 6.5%, the lowest rate since November 2008. Employment increased by 74,000 in September, nearly all in full-time work. This pushed the unemployment rate down 0.2 percentage points to 6.8%, the lowest since December 2008.
Monday, November 10, 2014 Housing Starts: 8:15am Oct A report from the Canada Mortgage and Housing Corp showed the seasonally adjusted annualized rate of housing starts declined to 183,604 units last month from a revised 197,355 units in September. A report from the Canada Mortgage and Housing Corp showed the seasonally adjusted annualized rate of housing starts climbed to 197,343 units last month from an upwardly revised 196,283 units in August. That topped analysts' forecasts for 196,100. August was originally reported as 192,368.
Thursday, November 13, 2014 New Housing Price Index: 8:30am Sept Statistics Canada reported this morning that its New Housing Price Index rose 0.1% in September, following a 0.3% increase in August. The New Housing Price Index rose 0.3% in August, following no change in July.
Friday, November 14, 2014 Monthly Survey of Manufacturing: 8:30am Sept Manufacturing sales increased 2.1% in September to $53.0 billion, the eighth gain in nine months. Canadian manufacturing sales fell 3.3% in August to $52.1 billion, the first decline in 2014.
Monday, November 17, 2014 Canada's International Transactions in securities: 8:30am Sept Canadian acquisitions of foreign securities resumed in September as investors added $8.6 billion worth of these instruments to their holdings. Meanwhile, foreign investment in Canadian securities slowed to $4.4 billion and mainly focused on instruments from the private corporate sector. Foreign investment in Canadian securities totaled $10.3 billion in August and included both debt and equity instruments. Canadian investment in foreign securities decelerated from July
Monday, November 17, 2014 CREAstats - MLS sales: 8:30am Oct According to statistics released today by The Canadian Real Estate Association, national home sales rose 0.7% from September to October. Actual (not seasonally adjusted) activity stood 7% above October 2013 levels. Figures released by the Canadian Real Estate Association showed that national home sales fell 1.4% from August to September. Actual (not seasonally adjusted) activity stood 10.6% above September 2013 levels. CREA also said the number of newly listed homes declined by 1.6% from August to September.
Thursday, November 20, 2014 Employment Insurance: 8:30am Sept The number of people receiving regular Employment Insurance benefits in September was 494,400, little changed from the previous month. Compared with September 2013, the number of beneficiaries decreased by 18,000 or 3.5%. Following a decrease in July, the number of people receiving regular Employment Insurance benefits in August was essentially unchanged, at 498,100. Compared with 12 months earlier, the number of beneficiaries fell by 18,800 or 3.6%.
Thursday, November 20, 2014 Wholesale trade: 8:30am Sept Wholesale sales rose 1.8% to $54.0 billion in September. Wholesale sales edged up 0.2% to $53.1 billion in August.
Friday, November 21, 2014 Consumer Price Index: 7:00am Oct Consumer prices rose 2.4% in the 12 months to October, following a 2.0% increase in September. Consumer prices rose 2.0% in the 12 months to September, following a 2.1% increase in August. On a seasonally adjusted monthly basis, the Consumer Price Index increased 0.2% in September, after rising 0.1% in August.
Tuesday, November 25, 2014 Retail Trade: 8:30am Sept --- Retail sales declined 0.3% in August to $42.4 billion. This second consecutive monthly decrease follows gains in the six previous months.
Friday, November 28, 2014 Industrial Product Price Index: 8:30am Oct --- The Industrial Product Price Index decreased 0.4% in September, mainly because of lower prices for energy and petroleum products.
Friday, November 28, 2014 Raw Materials Price Index: 8:30am Oct --- The Raw Materials Price Index declined 1.8% in September, largely as a result of lower prices for crude energy products.
Friday, November 28, 2014 GDP: 8:30am Sept --- Real gross domestic product declined 0.1% in August, following no growth in July and increases in the first six months of the year.
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<![CDATA[U.S. Senate rejects Keystone bill]]>Wed, 19 Nov 2014 12:00:00 ESThttp://baystreet.ca/articles/economiccommentary.aspx?id=1256U.S. Senate rejects Keystone bill


The U.S. Senate rejected a bill to speed approval of the Keystone XL pipeline, proposed to run from Canada to the Texas Gulf Coast, in a Tuesday evening vote. But Republicans are already promising to reintroduce the bill when they take two-house control of Congress in January.

The motion needed 60 votes in favour to pass. The bill failed after 59 senators voted in favour and 41 were against.

All 45 Senate Republicans voted in favour of the legislation. They were joined by only 14 Democrats and allied Independents.

As the vote total was announced, protesters disrupted the Senate session with First Nations-style singing and chants. Earlier, protesters crashed the offices of senators who were set to vote on the issue.

Bill 2280 would have authorized Calgary-based TransCanada Corp., ?the company behind the project, "to construct, connect, operate, and maintain the pipeline and cross-border facilities" as specified in an application the company filed in 2012.

Prior to the vote, 59 senators had publicly voiced support and the hunt was on for the 60th vote needed to advance the measure.

Even if passed, the bill was not expected to pass muster with U.S. President Barack Obama, who had hinted strongly he would veto the bill, which is designed to short-circuit the White House's own environmental review process.?

Keystone XL, a political football almost since its inception six years ago, would transport bitumen from Alberta's oilsands to refineries on the U.S. Gulf Coast. The question of its approval is now expected to resurface in the new year.

The pipeline was approved last week for the ninth time by the Republican-dominated House of Representatives, but faced a tougher test in the Senate, which is still controlled by Democrats until a new session begins next year.

That's when the pro-Keystone Republicans will take over control of the Senate, wrested from the Democrats in midterm elections earlier this month.

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<![CDATA[Third straight loss for Hong Kong]]>Wed, 19 Nov 2014 12:00:00 ESThttp://baystreet.ca/articles/foreignmarketwrap.aspx?id=2001Wednesday, November 19, 2014

Third straight loss for Hong Kong


Hong Kong stocks ended lower for a third straight session on Wednesday, as investors acted cooler toward the recently launched Hong Kong-Shanghai Stock Connect scheme.

In Japan, the Nikkei 225 shed 55.31 points, or 0.3%, to 17,288.75, with the yen weakening to fresh seven-year lows against the U.S. dollar, with the greenback buying ¥117.58 from ¥117.12 in the previous day.

On Wednesday, the Bank of Japan held its monetary policy steady and maintained that the economy continues to recover moderately "as a trend."

Prime Minister Shinzo Abe on Tuesday called early elections for December and postponed by 18 months a sales-tax hike that was initially planned for October 2015. That move came after government data showed the economy unexpectedly entered recession in the third quarter.

In Hong Kong, the Hang Seng index fell another 155.86 points, or 0.7%, to 23,373.31, bringing its decline over the past three sessions to 3%. Last week, the index logged a five-day winning streak, snagging a weekly gain of 2.3%.

Investors didn’t use up the daily investment quota on Wednesday for the Hong Kong-Shanghai Stock Connect program, which allows direct trade between the two markets and foreign individual investors to buy mainland equities.

Hong Kong Exchanges & Clearing Ltd. , the city’s sole bourse operator, tumbled 3.4%, marking a fourth consecutive loss.

BOC Hong Kong (Holdings) Ltd., the only clearing bank for yuan transactions in Hong Kong, retreated 0.9%.

Most brokerage firms suffered losses, as Haitong International Securities Group Ltd. slid 3.5%, Shenyin Wanguo (HK) Ltd. declined 2.8%, China Everbright Ltd. shredded 2.4%, and First Shanghai Investments Ltd. gave up 2%.

Among major blue-chips, telecoms giant China Mobile Ltd. pulled back 1.9%, and Chinese online major Tencent Holdings Ltd. moved down 1.1%.

Other market movers included Macau gaming stock Sands China Ltd., down 1.3%, Chinese offshore oil and gas producer Cnooc Ltd., down 0.9%. State-owned energy giant PetroChina Co. Ltd. was lower by 0.8%.

In other markets;

Shanghai’s CSI 300 index dropped 4.19 points, or 0.2%, to 2,537.22

Singapore’s Straits Times Index gained 20.83 points, or 0.6%, to 3,334.56

The Taiex index in Taiwan recovered 104.17 points, or 1.2%, to 8,963.24

Korea’s Kospi index gave back 0.14 points to 1,966.87

New Zealand’s Exchange 50 added 17.03 points, or 0.3%, to 5,522.06

Australia’s S&P/ASX 200 fell 30.85 points, or 0.6%, to 5,368.84.


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<![CDATA[U.S. shoppers not in Black Friday mood yet]]>Wed, 19 Nov 2014 12:00:00 ESThttp://baystreet.ca/articles/globalmarkets.aspx?id=1257Stores may be opening early for Black Friday, but that doesn't mean shoppers will show up.

Most Americans, in fact, are not going to be shopping on either Black Friday or Cyber Monday this year, according to a new report released Wednesday by Bankrate.com.

The report found that only 40% of Americans plan to shop on Black Friday, and only 28% plan to do that shopping in a store, while others will go shop online.

The length in the holiday shopping season is a major factor: Some retailers began offering Black Friday deals as early as Nov. 1, taking away the urgency for customers to make it into stores the day after Thanksgiving.

Who will be checking out the in-store deals? Mostly millennials, ages 18 to 29. Though they are more likely to shop in stores than go online, it doesn't necessarily mean that they'll be buying right away. One expert said it's more about the experience, and that they go to the store to comparison shop.

While that group plans on spending around $100 to $250 U.S. on Black Friday, other shoppers anticipate spending about $400. A quick look shows that spending that kind of money could net a shopper an Xbox One console at Best Buy ($429.99 U.S.) or two iPad Minis from Walmart ($199 U.S. each).

And there's always Cyber Monday, though only one in four Americans anticipate he or she will be making a purchase that day, according to the report.

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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]]><![CDATA[TSX flat after Fed minutes]]>Wed, 19 Nov 2014 12:00:00 ESThttp://baystreet.ca/articles/marketupdates.aspx?id=3765Wednesday, November 19, 2014

04:21 PM EST
TSX flat after Fed minutes

Metro among today’s stars




The Toronto stock market was relatively flat Wednesday after the U.S. Federal Reserve hinted that it still won't likely move on interest rates any time soon.

The S&P/TSX composite index fought its way into the green by 7.18 points to close Wednesday at 14,980.15

The Canadian dollar dropped 0.41 cents to 88.11 cents U.S.

The base metals group of stocks was down while the December copper contract closed four cents higher to $3.05 U.S. Teck Resources fell 51 cents, or 2.7%, to end the day at $17.96.

The gold sector gave back about half of Tuesday’s jump Tuesday as Barrick Gold trailed Tuesday’s close by 89 cents or 5.9% to $14.15.

The consumer staples group led advancers, as grocer Metro Inc. had a $115.6-million profit in the fourth quarter of its 2014 financial year, or $1.32 per share, which was above analyst estimates of $1.29 share.

Its revenue in the fourth quarter was up 3.9% from a year earlier, rising to $2.7 billion, while Metro's same-store sales were up 3.1%. Its shares gained $7.18 to $89.68.

Shares in pipeline company TransCanada climbed $1.50 to $57.50 after CEO Russ Girling said he expects the company's dividend to grow at an average annual rate of at least 8% through 2017.

He added that "success in advancing our major projects" could push annual dividend growth rate to 10% or higher.

ON BAYSTREET

The TSX Venture Exchange removed 2.18 points to 782.21.

The 14 Toronto subgroups were evenly split between gainers and losers, with consumer staples jumping 2.4%, utilities up 0.6%, and industrials moving 0.5% to the good.

The seven laggards were weighed most by gold, down 5.2%, materials, sliding 2.3%, and global base metals, off 1.7%.

ON WALLSTREET

U.S. stocks were little changed on Wednesday, with benchmarks at or near all-time highs, as Wall Street took in stride minutes from the Federal Reserve's last policy meeting, which had some central bankers concerned prices are not increasing rapidly enough.

The Dow Jones Industrials slid 2.09 points to close at 17,685.73

The S&P 500 slipped 3.08 points at 2,048.72. The NASDAQ index dipped 27.63 points to 4,678.80.

The minutes from the central bank come from its October session, at which the Fed finished its bond-buying program, while sticking with its pledge to keep interest rates low for a considerable period.

The minutes had Fed members continuing to "expect inflation to move back to the committee's 2% target over the medium term as resource slack diminished in an environment of well-anchored inflation expectations."

The U.S. Commerce Department reported housing starts unexpectedly fell in October, down 2.8%, while permits surged to their highest in more than six years.

Prices for 10-year U.S. Treasuries were lower, raising yields to 2.35% from Tuesday’s 2.32%. Treasury prices and yields move in opposite directions.

Oil prices lost 18 cents to $74.43 U.S.

Gold prices moved lower $13.40 to $1,181.70 U.S.





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<![CDATA[Stocks in Play: International Montoro Resources Inc. ]]>Wed, 19 Nov 2014 09:52:45 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=16872Wednesday, November 19, 2014

09:52 AM EST - International Montoro Resources Inc. : announced receipt of the exploration permit for its Serpent River - Pecors Anomaly Project. This permit is subject to the requirements of the Mining Act, Ontario Regulation 308/12, the applicable Provincial Standards for Early Exploration, and additional Terms and Conditions in the permit that are specific to this project. The permit is effective for a period of three years. International Montoro Resources Inc. (V.IMT) shares were unchanged at 0.09.

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<![CDATA[Stocks in Play: FLYHT Aerospace Solutions Ltd. ]]>Wed, 19 Nov 2014 09:52:45 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=16873Wednesday, November 19, 2014

09:54 AM EST - FLYHT Aerospace Solutions Ltd. : reported today it has received a Supplemental Type Certificate for its Automated Flight Information Reporting System 228 on the Airbus A320 series aircraft from the European Aviation Safety Agency. FLYHT Aerospace Solutions Ltd. (V.FLY) shares were up $0.005 at 0.38.

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<![CDATA[Stocks in Play: Mosaic Capital Corporation]]>Wed, 19 Nov 2014 09:52:45 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=16874Wednesday, November 19, 2014

09:55 AM EST - Mosaic Capital Corporation : intends to file a preliminary prospectus supplement on or about November 20, to its short form base shelf prospectus dated September 19, in connection with commencement of a marketed public offering of units of Mosaic. Mosaic Capital Corporation (V.M) shares were down $0.10 at 14.1.

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<![CDATA[Stocks in Play: Endo International plc]]>Wed, 19 Nov 2014 09:52:45 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=16875Wednesday, November 19, 2014

09:56 AM EST - Endo International plc : and Auxilium Pharmaceuticals, Inc. today announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended in connection with Endo's proposed acquisition of Auxilium was terminated by the United States Federal Trade Commission on November 18, 2014. Endo now expects the deal to close in the first quarter of 2015, subject to pending customary closing conditions. Endo International plc (T.ENL) shares were unchanged at 79.59.

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<![CDATA[Stocks in Play: EnerCare Inc. ]]>Wed, 19 Nov 2014 09:52:45 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=16876Wednesday, November 19, 2014

11:40 AM EST - EnerCare Inc. : announced a cash dividend of $0.0604 per common share for October. The dividend will be payable on December 31, to shareholders of record at the close of business on November 28. This dividend is designated as an "eligible dividend" for Canadian income tax purposes. EnerCare Inc. (T.ECI) shares were up $0.12 at 15.45.

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<![CDATA[Stocks in Play: Paramount Gold and Silver Corp.]]>Wed, 19 Nov 2014 09:52:45 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=16877Wednesday, November 19, 2014

11:42 AM EST - Paramount Gold and Silver Corp. : announced today that new core drilling at its 100%-owned San Miguel Project in northern Mexico continues to expand the potential size of the bulk mineable San Francisco deposit. Paramount Gold and Silver Corp. (T.PZG) shares were down $0.08 at 0.77.

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<![CDATA[Stocks in Play: Opsens Inc.]]>Wed, 19 Nov 2014 09:52:45 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=16878Wednesday, November 19, 2014

11:43 AM EST - Opsens Inc. : announced that it has been granted CE marking for OptoWire and OptoMonitor, which allows these Fractional Flow Reserve products for patients with coronary artery disease to be marketed in Europe, the world's second-largest market. Opsens Inc. (V.OPS) shares were unchanged at 0.72.

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<![CDATA[Stocks in Play: Annidis Corporation ]]>Wed, 19 Nov 2014 09:52:45 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=16879Wednesday, November 19, 2014

03:33 PM EST - Annidis Corporation : announced that Retinal Consultants of Arizona (RCA) has added Annidis RHA instrument into its patient-based offering across the state of Arizona. RCA is one of America's leading Retinal and Vitreous clinical research and patient treatment facilities. Annidis Corporation (V.RHA) shares were unchanged at 0.25.

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<![CDATA[Stocks in Play: VMS Ventures Inc.]]>Wed, 19 Nov 2014 09:52:45 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=16880Wednesday, November 19, 2014

03:35 PM EST - VMS Ventures Inc. : updated shareholders on the performance of the Reed Mine to the end of September. During the third quarter of 2014, the Reed Mine produced 109,562 tonnes of ore at a copper grade of 2.23% and zinc grade of 1.79% from a combination of ore development and longhole stope mining. Year to date, as of the end of September, Reed has produced a total of 296,392 tonnes of ore. VMS Ventures Inc. (V.VMS) shares were down $0.005 at 0.3.

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<![CDATA[Augusta Industries Subsidiary Scores Another Sale with Large Canadian Pipeline Company]]>Tue, 18 Nov 2014 04:39:36 ESThttp://baystreet.ca/articles/stockstowatch.aspx?id=812Tuesday, November 18, 2014

Augusta Industries Subsidiary Scores Another Sale with Large Canadian Pipeline Company



Measuring just major crude oil, petroleum and natural gas pipelines in the United States tallies more than 450,000 miles of pipeline. To put that into perspective, consider that it’s about 25,000 miles around the Earth, meaning that U.S. pipelines could loop around the circumference of the planet more than 18 times. Even though the rail business has significantly ramped up in transporting oil, it still pales in comparison to the magnitude of oil pumped through the pipelines.

The International Energy Agency (IEA) estimated that in 2013 about three-quarters of the oil in the U.S. was transported via pipeline and less than 10% by rail. The IEA also evaluated spills, with an analysis showing that a reported spill by rail is six times more likely than a pipeline, although an average pipeline spill is typically more severe.

Toronto-based Augusta Industries Inc. (TSX-Venture:AAO), through its wholly-owned subsidiary Fox-Tek Canada, provides solutions to the oil and gas market for monitoring the integrity of pipelines so repairs can be made before a spill happens. Fox-Tek has developed the FT fiber optic sensor and corrosion remote monitoring system, a non-intrusive asset health monitoring sensor scheme to help operators track the thinning of pipelines and refinery vessels due to corrosion/erosion, strain due to bending/buckling and process pressure and temperature.

Augusta is horizontally diversified, with its other wholly-owned subsidiary, Marcon International Inc., an industrial supply contractor principally selling and distributing industrial parts and equipment to the energy sector and a number of US Government entities. In addition to departments and agencies of the U.S. Government, Marcon's major clients include Saudi Arabia-Sabic Services (Refining and Petrochemical), Bahrain National Gas Co, Bahrain Petroleum, Qatar Petroleum, Qatar Gas, Qatar Petrochemical, Gulf of Suez Petroleum, Agiba Petroleum and Burullus Gas Co.

Fox-Tek has been having some sales success, with a steady flow of order announcements in recent months. Following an order in July, the company in October shipped two of its Electric Field Mapping (EFM) systems to Equion Energy Limited for use at Equion’s Columbian field operations. While remaining unnamed, "one of Canada’s foremost pipeline companies" seems to be seeing value in Fox-Tek products. Earlier this month, four more installations of Fox-Tek’s 112-pin sensor array EFM systems were installed in Canada as a repeat order from said pipeline company.

That news was followed on Tuesday with Augusta Industries saying that Fox-Tek has received a contract to design, manufacture and install a large EFM system to monitor a key asset for, again, "one of Canada's largest pipeline companies." The EFM system, consisting of a 200-pin sensor array, will be used in the monitoring of potential internal wall loss around the girth weld of a 30-inch pipe. The system will continuously send data wirelessly to Fox-Tek’s data vault in Chicago for analysis and presentation to the client via a web portal. Over time, the data will be correlated with other data to understand better the integrity of the monitored location and validate the existing mitigation program. It’s the second EFM of its kind ordered by the pipeline company for monitoring a large girth weld.

"A repeat order from one of Canada's foremost pipeline companies, will go a long way to demonstrate the Corporation's long term partnerships," said Allen Lone, President and CEO of Augusta Industries, in a Tuesday statement. "It is clear that our business will continue to grow as the acceptance of our engineering services continues to be well received within the industry. We look forward to many more projects such as this one," he added.

The repeat orders and growing sales are translating in share price appreciation over the past year. Shares have climbed from around 2 cents to a current level at 15 cents in that time, although the news today hasn’t inspired the stock, which is down 6.3% in late afternoon trading.

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<![CDATA[U.S. Fed meeting Wednesday ]]>Wed, 19 Nov 2014 11:32:40 ESThttp://baystreet.ca/articles/forex_trader.aspx?id=20002
Regardless the positive movement for the loonie would be very limited as the real timeline for pipeline construction and following economic benefits would be 2017 at the earliest. U.S. dollar support now sits at the recent lows of 1.1260 Canadian and resistance comes in at 1.1360 Canadian, the downward November trend line, followed by the psychological 1.1400 Canadian level.

Experts expect a range today of 1.1310 to 1.1410 Canadian

The euro held firm overnight and is now trending higher into the North American open following better than expected data out of Europe yesterday. The jump in German ZEW to 11.5 yesterday has added to a recent run in better than expected fundamental releases out of the shared currency zone and has investors pausing on the recent down trend on the currency. The euro is currently back above 1.2560 U.S., while currently testing 1.4250 Canadian after breaking through the 1.42 Canadian psychological level overnight.

Observers expect a range today of 1.4174 to 1.4259 Canadian

The pound is strong, up 0.55% from yesterday’s close. The Bank of England minutes were less dovish than expected where two members were in favour of an immediate rate hike. Topic of inflation did come up and pressures seemed to have subsided due to lower global food and energy prices. The sterling has made its biggest one-day gain since the beginning of the month and rebounded off its support level after reaching a two-month low of 1.7609. The pound is currently trading at 1.7767 Canadian.

The Australian dollar is weak, down 0.50% from yesterday’s close. Yesterday’s Reserve Bank of Australia minutes seems to be spilling over into today, as the central bank is increasingly dovish and still saying the Aussie is overvalued. The Aussie bottomed out at 0.9777 Canadian, but is still trading within its one-month range, and is currently trading at 0.9798 Canadian.

The New Zealand dollar is weak, down 0.30% from yesterday’s close. The Kiwi is coming off its high of 0.9011 Canadian after a strong November, and is currently trading at 0.8924 Canadian.

Data Releases

CAD: No data

AUD: No data

EUR: Current Account

GBP: BoE Minutes

JPY: Bank of Japan Press Conference

NZD: PPI Input + Output

USD: FOMC Meeting Minutes + Building Permits

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<![CDATA[Top Analysts Action: LOW, LHCG, AFAM, ED, DNR ]]>Wed, 19 Nov 2014 04:04:38 ESThttp://www.baystreet.ca/articles.aspx?id=28435<![CDATA[PetSmart (PETM) prospers on revenues]]>Wed, 19 Nov 2014 10:38:50 ESThttp://www.baystreet.ca/articles.aspx?id=28434<![CDATA[Target (TGT) surges on Q3 profit]]>Wed, 19 Nov 2014 10:36:55 ESThttp://www.baystreet.ca/articles.aspx?id=28433<![CDATA[Staples (SPLS) jumps with sales, profits]]>Wed, 19 Nov 2014 10:35:00 ESThttp://www.baystreet.ca/articles.aspx?id=28432<![CDATA[Amicus Therapeutics (FOLD) gains on stock offering]]>Wed, 19 Nov 2014 10:33:00 ESThttp://www.baystreet.ca/articles.aspx?id=28431<![CDATA[Central European Media (CETV) down after Tuesday hike]]>Wed, 19 Nov 2014 10:32:09 ESThttp://www.baystreet.ca/articles.aspx?id=28430<![CDATA[Tesla Motors (TSLA) down on lowered projections]]>Wed, 19 Nov 2014 10:30:48 ESThttp://www.baystreet.ca/articles.aspx?id=28429<![CDATA[BlackBerry (BBRY) stumbles on downgrade]]>Wed, 19 Nov 2014 10:29:23 ESThttp://www.baystreet.ca/articles.aspx?id=28428<![CDATA[Mallinckrodt (MNK) down on Q4 results]]>Wed, 19 Nov 2014 10:27:16 ESThttp://www.baystreet.ca/articles.aspx?id=28427<![CDATA[Jack in the Box (JACK) surges with Q4 results ]]>Wed, 19 Nov 2014 10:25:26 ESThttp://www.baystreet.ca/articles.aspx?id=28426