Baystreet.ca RSS Feed http://www.baystreet.ca/rss/MasterRSS.aspx en-us Copyright (c) 2017 Baystreet.ca Inc. All rights reserved. 10/23/2017 1:59:11 AM <![CDATA[New Gold "BUY"]]>Fri, 20 Oct 2017 11:59:00 ESThttp://baystreet.ca/articles/analyst_ratings.aspx?33403<![CDATA[Russia Goes All In On Arctic Oil Development]]>Fri, 20 Oct 2017 09:56:00 ESThttp://baystreet.ca/articles/commodities.aspx?id=1383Friday, October 20, 2017


Russia Goes All In On Arctic Oil Development


Neither sanctions nor persistently low oil prices are hindering Russia’s ambitions or plans to develop oil resources in its sections of the Arctic.

In April, state-controlled oil giant Rosneft started drilling the northernmost well on the Russian Arctic shelf in the Khatangsky license area in the Laptev Sea. In June, Rosneft struck first oil in the Eastern Arctic in this license.

Earlier this month, the oil firm said that recoverable reserves at the field exceed 80 million tons of oil, which is equal to around 586.4 million barrels. Geological data point to reserves at the field at 298 million tons of oil, or some 2.184 billion barrels, and the oil is high quality—light and low-sulfur, according to Rosneft.

The Russian oil giant—whose CEO Igor Sechin is a close ally of Vladimir Putin—continues to drill at the field to study its geology, search for more oil, and define future drilling strategies at the license, Rosneft says.

Rosneft and Gazprom’s oil unit Gazprom Neft are the only two companies allowed to drill in the Arctic offshore under Russia’s legislation.

Gazprom Neft operates the only oil-producing platform in Russia’s Arctic currently. The Prirazlomnoye oil field in the Pechora Sea started pumping oil back in late 2013. The field is estimated to hold 70 million tons of oil, or 513 million barrels, with annual production averaging 5.5 million tons (40.3 million barrels) at full capacity.

Rosneft also plans to resume drilling in the Barents Sea next year and in the Kara Sea within two years, thus committing itself to conduct drilling works across the entire Russian section of the Arctic.

Rosneft holds 28 licenses in the Russian Arctic shelf that are estimated to have combined reserves of 34 billion tons of oil equivalent, or 249.22 billion barrels. Since 2012, Rosneft has invested $1.74 billion (100 billion rubles) in Arctic exploration, and will invest in 2017-2021 another $4.354 billion (250 billion rubles).

Russia, for its part, has stated that Arctic oil and Arctic development are priorities in its policies, and is supporting development with financing in a kind of political message that sanctions won’t deter its Arctic oil ambitions.

The U.S. Treasury sanctions list from 2014 prohibits the exports of goods, services (not including financial services), or technology in support of exploration or production for Russian deepwater, Arctic offshore, or shale projects that have the potential to produce oil.

While Western banks are still evaluating the potential impact of the latest round of U.S. sanctions on Russia from this summer, Moscow is committing funds to Artic development. At the end of August, Prime Minister Dmitry Medvedev said that Russia will finance the development of the Artic continental shelf and the economy of the local areas with more than $2.787 billion (160 billion rubles) by 2025. He said Russia’s program for Arctic development rests on three pillars: boosting economic growth, developing sea infrastructure, and developing the continental shelf with modern technology and equipment.

As part of that program, in 2021-2025, the government will fund $414.5 million (23.8 billion rubles) for a program to build oil and gas equipment and technology and industrial machinery for exploration and development in the Arctic.

According to experts cited by Rosneft, the Arctic shelf is expected to account for 20-30 percent of Russia’s total oil production by 2050.

It’s not clear who will need Russian Arctic oil in 2050, but in the shorter term, Russia is betting on the Arctic, and Rosneft’s exploration success this year could really pay off.

By Tsvetana Paraskova for Oilprice.com

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<![CDATA[Baidu To Roll Out Autonomous Bus In China In 2018]]>Fri, 20 Oct 2017 10:47:00 ESThttp://baystreet.ca/articles/techinsider.aspx?id=921Friday, October 20, 2017

Baidu To Roll Out Autonomous Bus In China In 2018


Baidu Inc (ADR) (NASDAQ:BIDU) has announced that it plans to roll out a fully autonomous bus onto Chinese roads come next year.

The Chinese search giant’s CEO Robin Li made the recent announcement revealing that the company plans to launch the self-driving bus in 2018. The company has for a long time been working on autonomous vehicle technology and it plans to show the world what it has been working on by introducing the autonomous bus on to China’s roads. Li revealed that Baidu has been working together with another Chinese firm AIC Motor Corp to make the project a reality and that the bus will pass through specific routes.

Baidu announced a week ago that it plans to start producing vehicles with Level 3 autonomy in 2019 and Level 4 in 2021. L3 autonomy refers to autonomy that still requires conditional human intervention while L4 autonomy is where vehicles are fully autonomous. The vehicles will be fitted with the Apollo opensource self-driving vehicle software which Baidu developed in partnership with NVIDIA Corporation (NASDAQ:NVDA).

"We only touch the software part. We don't manufacture the cars. We provide the technology,” stated Li.

The CEO also expressed confidence in the ambitious endeavor, especially considering the company’s open-source approach with the autonomous vehicle software. He believes that the open-source approach will have better momentum based on historical data and the company expects this approach to make it more appealing to vehicle manufacturers. The Baidu CEO also believes that autonomous vehicles in the future focus heavily on entertainment and thus they will have big screens that will eliminate the need for passengers to use their phones once they are in the vehicles.

The Chinese search giant has also invested heavily in artificial intelligence not only for self-driving vehicle technology but also in its search engine. Li revealed that the company pumped roughly $1.5 billion into research and development and most of the money went into AI.
The self-driving bus will mark the official launch of Baidu’s self-driving technology into the mainstream. Most companies that have been working on autonomous technology have not yet released it to the public.

Baidu stock closed the latest trading session on Thursday at $264.52.

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<![CDATA[Economic Calendar]]>Mon, 23 Oct 2017 01:59:11 ESThttp://baystreet.ca/articles/econ_calendar.aspx?id=18125October 2017
 

DATE

STATISTIC FOR CURRENT MONTH PREVIOUS MONTH
Sunday, October 01, 2017 Markit Canada Manufacturing PMI: 9:30am Sept The Markit Canada Manufacturing Purchasing Managers’ index (PMI), a measure of manufacturing business conditions, rose to a seasonally adjusted 55.0 last month from 54.6 in August. A reading above 50 shows growth in the sector. The IHS Markit Canada Manufacturing Purchasing Managers’ Index (PMI™) registered 54.6 in August, to remain above the neutral 50.0 threshold for the 18th consecutive month, down slightly from 55.5 in July
Thursday, October 05, 2017 Canadian International Merchandise Trade: 8:30am Aug Canada's merchandise trade deficit totalled $3.4 billion in August, widening from a $3.0 billion deficit in July. Exports decreased 1.0% while imports were unchanged. Canada's merchandise trade deficit totaled $3.0 billion in July, narrowing from a $3.8-billion deficit in June. Imports fell 6.0% while exports decreased 4.9%.
Friday, October 06, 2017 Labour Force Survey: 8:30am Sept Employment gained 0.1% or 10,000 in September, and the unemployment rate remained at 6.2%, matching the low of October 2008. Employment was up 22,000 or 0.1% in August. The unemployment rate declined by 0.1 percentage points to 6.2%, matching the most recent low of October 2008, the month prior to the 2008-2009 labour-market downturn.
Friday, October 06, 2017 IVEY Purchasing Managers Index: 10:00am Sept The IVEY PMI grew to 59.6 in September, from 56.3 in August, and upward fro 58.4 in September 2016 The IVEY PMI index faded to 56.3 in August from 60 in July, but ahead of a 52.3 reading in August 2016.
Tuesday, October 10, 2017 Housing Starts: 8:15am Sept Canada Mortgage and Housing Corporation reported the trend in housing starts was 214,821 units in September, compared to 220,573 units in August. Canada Mortgage and Housing Corp. says the annual pace of housing starts in August increased compared with July. The agency says housing starts came in at a seasonally-adjusted annual rate of 223,232 units for August, up from 221,974 in July.
Tuesday, October 10, 2017 Building Permits: 8:30am Aug Canadian municipalities issued $7.5 billion worth of building permits in August, down 5.5% from July. This was the second consecutive monthly decrease. Despite these declines, the year-to-date value of building permits is up 8.7% compared with the same period in 2016. Canadian municipalities issued $7.9 billion worth of building permits in July, down 3.5% from June and the first decrease since March 2017
Thursday, October 12, 2017 New Housing Price Index: 8:30am Aug New house prices in Canada rose 3.8% year-over-year in August. Prices for new homes were unchanged in 15 of the 27 census metropolitan areas (CMAs) surveyed, including what have been Canada's two hottest housing markets—Toronto and Vancouver. For Toronto, this was the third consecutive month of flat readings. Market conditions in Vancouver contributed to ongoing strength in that census metropolitan area, and helped drive new home prices up 0.4% nationally in July
Friday, October 13, 2017 CREAstats - MLS Sales: 8:30am Sept The average price of a Canadian home rose by 3% in the year up to September, even as sales during the month came in 11% lower than they were a year ago. The Canadian Real Estate Association reported national home sales rose 1.3% from July to August.
Monday, October 16, 2017 Canada's International Transactions in Securities: 8:30am Aug Foreign investment in Canadian securities totaled $9.8 billion in August, down from $24.0 billion in July. At the same time, Canadian investors increased their holdings of foreign securities by $12.0 billion, led by purchases of U.S. corporate instruments. Foreign investment in Canadian securities amounted to $24.0 billion in July, led by record acquisitions of Canadian bonds. At the same time, Canadian investors reduced their holdings of foreign securities by $1.8 billion, following strong acquisitions in June.
Wednesday, October 18, 2017 Monthly Survey of Manufacturing: 8:30am Aug Manufacturing sales increased 1.6% to $53.5 billion in August, following two consecutive monthly declines. The gain was mainly attributable to higher sales in the transportation equipment, and petroleum and coal product industries. Manufacturing sales decreased 2.6% to $52.5 billion in July, following a 1.9% decline in June.
Thursday, October 19, 2017 Employment Insurance: 8:30am Aug The number of regular Employment Insurance beneficiaries decreased by 9,600, or 1.8%, to 524,200 in August. This decline continues a downward trend that began in October 2016. In July, 536,600 people received regular Employment Insurance benefits, up 6,800 (+1.3%) from June.
Friday, October 20, 2017 Consumer Price Index: 8:30am Sept The Consumer Price Index rose 1.6% on a year-over-year basis in September, following a 1.4% increase in August. On a seasonally adjusted monthly basis, the Consumer Price Index was up 0.2% in September, matching the increase in August. The Consumer Price Index rose 1.4% on a year-over-year basis in August, following a 1.2% increase in July. On a seasonally adjusted monthly basis, CPI was up 0.2% in August, matching the increase in July.
Friday, October 20, 2017 Retail Trade: 8:30am Aug After increasing 0.4% in July, retail sales declined 0.3% in August to $48.9 billion. Sales were down in eight of 11 sub-sectors, representing 57% of retail trade. Retail sales rose 0.4% to $49.1 billion in July. Higher sales at motor vehicle and parts dealers and food and beverage stores were the main contributors to the gain.
Monday, October 23, 2017 Wholesale Trade: 8:30am Aug --- Wholesale sales rose 1.5% to $62.4 billion in July, following a 0.6% decline in June. Sales were up in five of the seven sub-sectors, representing 86% of total wholesale sales.
Wednesday, October 25, 2017 BoC Rate Announcement: 10am Oct --- The Bank of Canada is raising its target for the overnight rate to 1%. The Bank Rate is correspondingly 1.25% and the deposit rate is 0.75%
Thursday, October 26, 2017 Average Weekly Earnings Aug --- Average weekly earnings of non-farm payroll employees were $970 in July, little changed from the previous month. Compared with July 2016, earnings were up 1.8%
Tuesday, October 31, 2017 GDP: 8:30am Aug --- After rising for eight consecutive months, real gross domestic product was essentially unchanged in July as 11 of 20 industrial sectors grew.
Tuesday, October 31, 2017 Industrial Product Price Index: 8:30am Sept --- The Industrial Product Price Index rose 0.3% in August, mainly due to higher prices for energy and petroleum products.
Tuesday, October 31, 2017 Raw Materials Price Index: 8:30am Sept --- The Raw Materials Price Index increased 1.0%, primarily due to higher prices for crude energy products.
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<![CDATA[Fuel Powers Inflation Spike]]>Fri, 20 Oct 2017 09:37:00 ESThttp://baystreet.ca/articles/economiccommentary.aspx?id=1991Fuel Powers Inflation Spike


The cost of living went up last month, according to figures released Friday by Statistics Canada, as transportation and housing prices climbed.

The agency revealed that the consumer price index rose to 1.6% in September, up from 1.4% the previous month, though StatsCan also said clothes, shoes and furniture, meanwhile, got cheaper in the past year.

The data agency said that transportation costs have increased by 3.8% in the 12 months to September, led by gasoline prices that have risen by more than 14% over that period, most of which came towards the end due to supply disruptions from Hurricane Harvey.

Food prices, meanwhile, have risen by 1.4% in the past 12 months.

The nation's number-crunchers said consumers paid 3.3% less for furniture in September compared with the same month a year earlier. Clothing and footwear, meanwhile, were 2.3% cheaper.

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<![CDATA[Asia Jumps as Kiwi Dollar Falls to Multi-Month Low]]>Fri, 20 Oct 2017 06:32:00 ESThttp://baystreet.ca/articles/foreignmarketwrap.aspx?id=2733Friday, October 20, 2017

Asia Jumps as Kiwi Dollar Falls to Multi-Month Low


Asia markets closed higher on Friday after shaking off negative sentiment seen earlier in the day.

The Nikkei 225 index inched ahead 9.12 points to 21,457.64. However tiny the jump, the benchmark index has closed higher for 14 consecutive sessions now.

The Hang Seng Index recovered 328.15 points, or 1.2%, from a sharp drop on Thursday to conclude the week at 28,487.24. Experts attributed Thursday's fall to a range of factors including tighter liquidity and comments from the governor of China's central bank.

Investors appeared unconcerned over potential uncertainty in the lead up to Japan's elections on Oct. 22. Japanese Prime Minister Shinzo Abe's coalition is likely to win a two-thirds majority, a poll from local outlet Kyodo News showed earlier this week.

Korean markets gained as most blue-chip tech stocks pared losses made on Thursday: Samsung Electronics closed up 1.6% and SK Hynix gained 2.8%. Those gains offset moderate losses seen in manufacturing names.

In Australia, the utilities sub-index rising 1.7% to lead gains on the broader index.

In individual stocks, Apple suppliers in Taiwan closed mixed after shares of the American tech giant slid in U.S. trade on reports of poor iPhone 8 sales: Largan Precision tumbled 3%, Hon Hai Precision Industry was down 0.9%, but Pegatron rose 2%.

Over in Japan, shares of Nissan closed down 1.6% after the automaker said Thursday it was suspending production in Japan for a period. The suspension will take place for a minimum of two weeks as the automaker looks into issues with its inspection systems

Shares of Kobe Steel finished the session 1.6% lower following headlines that it had continued to make up data even after investigations brought falsification issues to light. The company will hold a news conference later in the day

The New Zealand dollar extended losses after tumbling in the last session on news that the Labour Party would form a coalition government with the nationalist party, New Zealand First. The Kiwi dollar traded at $0.6992 U.S., below levels around the $0.71 handle seen for most of the week.

CHINA

In Shanghai, the CSI 300 faded 4.4 points, or 0.1%, to 3,926.85. People's Bank of China Governor Zhou Xiaochuan had warned Thursday that too much optimism in markets could lead to a collapse of asset prices

In other markets

In Korea, the Kospi index notched 16.48 points, or 0.7%, to 2,489.54

In Taiwan, the Taiex Index lost 31.41 points, or 0.3%, to 10,728.88

In Singapore, the Straits Times Index progressed 5.82 points, or 0.2%, to 3,340.73

In New Zealand, the NZX 50 took on 5.48 points, or 0.1%, to 8,129.55

In Australia, the ASX 200 nosed upward 10.86 points, or 0.2%, to 5,906.99




















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<![CDATA[Surprise Spike in U.S. Existing Home Sales ]]>Fri, 20 Oct 2017 03:39:00 ESThttp://baystreet.ca/articles/globalmarkets.aspx?id=1952Resales in home south of the border unexpectedly increased in September as the aftermath of Hurricanes Harvey and Irma began to fade, but a persistent shortage of properties to buy and sell continued to weigh on overall activity.

Figures released mid-morning Friday by the National Association of Realtors revealed existing home sales moved up 0.7% to a seasonally-adjusted annual rate of 5.39 million units last month. August's sales pace was reportedly unrevised.

Economists looked to sales falling 1% to a rate of 5.30 million units last month. Sales were down 1.5% from September 2016, the first year-over-year decline since July 2016.

Harvey, which hit Texas in the last week of August, and Irma, which battered Florida in early September, had already affected sales for August. Texas and Florida make up more than 18% of the nation's existing home sales.

NAR said that Houston's market had recovered quickly, experiencing a 4% gain in September compared to a year ago. Florida's sales were still down 22% compared to this time last year.

Experts reckon that sales in the hurricane-affected areas will rebound further once delays in sales fade. However, the overall housing sector has been slowing as the number of properties available has not kept up with demand.

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<![CDATA[IPO Center - TSX-V]]>Tue, 03 Jan 2017 06:53:00 ESThttp://baystreet.ca/articles/ipo_tsx.aspx?id=10023 Company Name Ticker Date Global Gardens Group Inc. VGM 03-01-2017 Soleil Capital Corp. SOLE.P 30-01-2017 Adventus Zinc Corporation ADZN 09-02-2017 Superior Gold Inc. SGI 23-02-2017 Global Energy Metals Corporation GEMC 01-03-2017 Harbour Star Capital Inc. HSC 06-03-2017 Kanzen Capital Corp. KAN.P 07-03-2017 CanadaBis Capital Inc. CANB.P 10-03-2017 Essex Minerals Inc. ESX 15-03-2017 HAW Capital Corp. HAW.P 21-03-2017 Avanco Capital Corp. AAA.P 22-03-2017 Snobro Enterprises Inc. SIQ.P 30-03-2017 Invictus MD Strategies Corp IMH 31-03-2017 Organic Garage Ltd. OG 13-04-2017 Buffalo Capital Inc. BUFF.P 27-04-2017 Minco Gold Corporation MMM 01-05-2017 Aztec Minerals Corp. AZT 02-05-2017 Hope Well Capital Corp. HOPE.P 09-05-2017 22 Capital Corp. LFC.P 12-05-2017 Aumento Capital VI Corporation AUO.P 19-05-2017 Fireweed Zinc Ltd. FWZ 29-05-2017 Pinedale Energy Ltd. MCF 02-06-2017 Pinedale Energy Ltd. MCF 02-06-2017 Canadian Mining Corp. CNG 05-06-2017 Contact Gold Inc. C 07-06-2017 Trifecta Gold Ltd. TG 15-06-2017 Starlight U.S. Multi-Family (No. 1) Value-Add Fund SUV.A 16-06-2017 P Squared Renewables Inc. PSQ.P 21-06-2017 Canvass Ventures Ltd. CVS.P 29-06-2017 Namibia Rare Earths Inc. NRE 04-07-2017 URZ Energy Corp. URZ 05-07-2017 Aguia Resources Limited AGRL 06-07-2017 Alopex Gold Inc. AEX 13-07-2017 Value Capital Trust VLU.P 17-07-2017 Califfi Capital Corp. CFI.P 19-07-2017 Le Chateau Inc. CTU 28-07-2017 Tetra Bio-Pharma Inc. TBP 16-08-2017 Apolo Acquisition Corp. ACA.P 17-08-2017 Buzz Capital Inc. BUZ.P 22-08-2017 Duckworth Capital Corp. DUKE.P 24-08-2017 Steamsand Capital Corp. SAND.P 31-08-2017 Angus Ventures Inc. GUS.P 01-09-2017 Tethyan Resources PLC TETH 06-09-2017 Colson Capital Corp. COLS.P 07-09-2017 AIM1 Ventures Inc. AIMI.P 07-09-2017 The Needle Capital Corp. NEDL.P 15-09-2017 Transcontinental Gold Corp. TCG 26-09-2017 Fiore Gold Inc. FIO 26-09-2017 Silver Viper Minerals Corp. VIPR 27-09-2017 OV2 Investment 1 Inc. OVO.P 28-09-2017 Meadow Bay Gold Corporation MAY 28-09-2017 Exalt Capital Corp. EXT.P 03-10-2017 Tova Ventures II Inc. TOVA.P 19-10-2017]]><![CDATA[Clearly Positive End for N. American Stocks]]>Fri, 20 Oct 2017 04:30:00 ESThttp://baystreet.ca/articles/marketupdates.aspx?id=6660Friday, October 20, 2017

16:30 PM EST
Clearly Positive End for N. American Stocks

GE Stuns with Comeback



Canadian stocks aped their neighbours to the south, and shone brightly in a broad-based rally Friday, to prove this October rally is not over.

The S&P/TSX Composite Index was off its highs of the day, but still positive 39.22 points to greet the end of the week at 15,857.22

The Canadian dollar hurtled lower 0.84 cents to 79.27 cents U.S.

Health-care stocks proved the strongest of all the sectors, as Canopy Growth thundered higher 96 cents, or 8.1%, to $12.78, while Aphria progressed 42 cents, or 6.5%, to $6.92.

In the tech sector, BlackBerry moved up 1.5 cents to $14.04, while Constellation Software jumped $3.99 to $752.98.

Consumer discretionary registered solidly in the green, as Canadian Tire gained 46 cents to $157.76, and Magna International galloped $1.64, or 2.4%, to $69.89.

Consumer staples faltered as Loblaw Companies were in the red 39 cents to $68.20.

On the economic beat, Statistics Canada reported that the consumer price index rose 1.6% on a year-over-year basis in September, following a 1.4% increase in August.

On a seasonally adjusted monthly basis, the Consumer Price Index was up 0.2% in September, matching the increase in August.

The agency said retail trade declined 0.3% in August to $48.9 billion, after increasing 0.4% in July. Sales were down in eight of 11 sub-sectors, representing 57% of retail trade.

On the economic beat, Statistics Canada came out with employment insurance figures for August, and revealed that the number of beneficiaries decreased by 9,600, or 1.8%, to 524,200 in August, continuing a downward trend that began last October.

ON BAYSTREET

The TSX Venture Exchange sprang up 7.44 points, or nearly 1%, to 789.51

All but one of the 12 TSX subgroups stayed up by the closing as health-care hiked 1.5%, information technology improved 1.2%, and consumer discretionary zoomed 0.9%.

Only consumer staples missed out, down 0.1%.

ON WALLSTREET

U.S. stocks traded higher on Friday after the Senate took a step toward achieving tax reform.

The Dow rocketed 165.59 points from Thursday’s all-time record to 23,328.63, reaching intraday and closing records. Boeing and Goldman Sachs both rose about 2% to lead advancers. Shares of JPMorgan Chase, meanwhile, hit an all-time high after jumping 1.4%.

An incredible comeback in General Electric shares from a 6% deficit to positive also helped lift market benchmarks. Some investors bet the worst is over for the troubled conglomerate which reported abysmal earnings Friday morning and cut its forecast for the year.

GE shares closed 1% higher after falling as much as 6.3% on the company's downbeat results. The stock posted its biggest one-day turnaround since 2009.

The S&P 500 improved 13.11 points above Thursday’s record close to 2,575.21, as financials led advancers by rising 1.2%.

The NASDAQ recovered 23.99 points to 6,629.05, yet another record high.

The Dow posted weekly gains of 2%, the S&P was up 0.9% and NASDAQ took on 0.4% during the week.

PayPal was among the best-performing stocks in the index, rising 5.5% after the company reported better-than-expected quarterly results.

Celgene was the worst performer on the S&P 500, falling 10.8% after the company said it will discontinue trials on a drug aimed at treating Crohn's disease.

The Senate approved a $4-trillion budget measure Thursday by a 51-49 vote. Passing a budget unlocks reconciliation, which enables the GOP to pass a tax bill with a simple 51-vote majority in the Senate. Using the tool removes the need for winning Democratic support, which would likely sink a GOP tax measure.

Investors also looked to Washington as President Donald Trump has reportedly completed interviews with all five of the candidates that he's considering for the role, including current Chair Janet Yellen.

A decision could potentially even be announced next week

Prices for the benchmark 10-year Treasury note slumped, spiking yields to 2.38% from Thursday’s 2.32%. Treasury prices and yields move in opposite directions.

Oil prices eked up 18 cents a barrel to $51.66 U.S.

Gold prices retreated $7.70 an ounce to $1,282.30 U.S.




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<![CDATA[Stocks in Play: Silver One Resources Inc.]]>Fri, 20 Oct 2017 12:34:59 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=23707Friday, October 20, 2017

12:35 PM EST - Silver One Resources Inc. : Has closed its oversubscribed non-brokered private placement by issuing 10,750,000 units at a price of $0.40 per Unit for gross proceeds of $4,300,000. Silver One Resources Inc. (V.SVE) shares were up $0.005 at 0.47.

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<![CDATA[Travelers Companies Inc. Sees Its Earnings Drop in Q3]]>Fri, 20 Oct 2017 03:35:46 ESThttp://baystreet.ca/articles/stockstowatch.aspx?id=2371Friday, October 20, 2017

Travelers Companies Inc. Sees Its Earnings Drop in Q3


Travelers Companies Inc. (NYSE:TRV) is a New York-based insurance company and one of the leaders in U.S. commercial property casualty insurance and personal insurance. The stock was up 0.43% in the mid-afternoon hours on October 20. Travelers saw its stock drop significantly after Hurricane Harvey and Irma devastated the southeastern U.S. and Florida coast. Shares reacted positively after the company released its third quarter results on October 19.

Earnings dropped to $253 million or $0.91 per share compared to $701 million or $2.40 per share in the third quarter of 2016. Revenue increased 7.3% to $7.33 billion – up from $6.96 billion in Q3 2016.

Estimates of the costs from the catastrophic damage of Hurricane Harvey range from $65 billion to $190 billion while Irma totals range from $50 billion to $100 billion. The sheer magnitude of the financial toll has the potential to drop total U.S. GDP by as much as 0.8%. This reality allowed Travelers to actually beat expectations heading into the third quarter in spite of the large drop in core income. In September Travelers estimated a loss between $350 million and $750 million due to Hurricane Harvey.

Travelers reported an underwriting loss of $246 million compared to a gain of $408 million in the previous year.

The stock also offers a dividend of $0.72 per share representing a dividend yield of 2.1%. Although its earnings beat expectations this is an expensive buy in an aging bull market.

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<![CDATA[USD/CAD - Inflation, Retail Figures Disappoint ]]>Fri, 20 Oct 2017 10:55:11 ESThttp://baystreet.ca/articles/forex_trader.aspx?id=33422
The dollar index is getting all the headlines as the U.S. dollar against its G10 trading peers. The move came from the approval of a budget plan from the U.S. Senate that will allow that body to overhaul the tax plan in 2018. U.S. Existing Home Sales were released at 10 a.m. and forecasts were for 5.3 million and Existing Home Sales Change is expected at -1%. Federal Open Market Committee member Loretta Mester speaks today at 2 p.m. on Global Regulatory Structure.

Those in the know expect a range today of $1.2555 to $1.2662

Major fundamental data is light in Europe today with only second-tier data releasing. German Producer Prices in September exceeded expectations and printed 0.3% m/m and 3.1% y/y. Eurozone Current Account in August did release a larger surplus than expected at EUR 33.3 billion. The euro is currently trading at $1.4844.

Experts expect a range today of $1.4805 to $1.4893

Public Sector Net Borrowing in September printed better than expected at 5.9 billion pounds sterling when expectations were for 6.5 billion pounds. Some positive light at the European Union summit where reports suggested that the U.K. and EU are progressive in Brexit negotiations. The pound is currently trading at 1.6579.

Prognosticators expect a range today of $1.6548 to $1.6660

No economic releases for the Australian dollar today leaving the Aussie to trade on broader sentiments. The Australian dollar is currently trading at $0.9856.

Oil (WTI): $51.36 U.S. per barrel

Gold: $1,281.58 U.S. per ounce

Silver: $17.16 U.S. per ounce

Copper: $3.1869 U.S. per tonne

Dollar Index: 93.65]]>
<![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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