BAYSTREET RSS FEED http://www.baystreet.ca/rss/MasterRSS.aspx en-us Copyright (c) 2014 Baystreet.ca Inc. All rights reserved. 11/27/2014 9:05:39 AM <![CDATA[Chesswood Group "BUY"]]>Wed, 26 Nov 2014 08:07:50 ESThttp://baystreet.ca/articles/analyst_ratings.aspx?20032<![CDATA[Crude stores rise, oil prices take lumps]]>Wed, 26 Nov 2014 12:00:00 ESThttp://baystreet.ca/articles/commodities.aspx?id=537Wednesday, November 26, 2014


Crude stores rise, oil prices take lumps


Oil futures remained lower Wednesday after the Energy Information Administration said U.S. crude inventories unexpectedly rose last week.

The agency said stockpiles rose by 1.9 million barrels. Analysts surveyed by The Wall Street Journal had forecast stocks to fall by 100,000.

Ahead of the data, January WTI oil slumped to a new four-year low after closing Tuesday at its lowest level since September 2010.

Approaching noon ET on Wednesday, oil remained down nine cents, or 0.1%, at $74.01 U.S. a barrel.

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<![CDATA[Samsung shares up on buyback]]>Thu, 27 Nov 2014 12:00:00 ESThttp://baystreet.ca/articles/techinsider.aspx?id=506Thursday, November 27, 2014

Samsung shares up on buyback


Shares of South Korean tech giant Samsung Electronics Co Ltd opened sharply higher on Thursday on the news that it will buy back $2 billion U.S. of its own stock.

Samsung shares were up 5.8% on Seoul's Kospi index, after opening 6% higher. Samsung announced the buyback plan, its first since 2007, after market close on Wednesday.

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<![CDATA[Economic Calendar]]>Thu, 27 Nov 2014 09:05:39 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 rose 0.8% in September to $42.8 billion, largely as a result of higher sales at motor vehicle and parts dealers. 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[Boost taxes for top earners, flat tax for investment: report]]>Thu, 27 Nov 2014 12:00:00 ESThttp://baystreet.ca/articles/economiccommentary.aspx?id=1260Boost taxes for top earners, flat tax for investment: report


Income from all investments should be taxed at a flat rate and tax rates on the highest income earners should be increased, a wide-reaching report on tax reform says.

Income is currently taxed progressively in Canada. That means that the more you make, the higher your tax rate is on each additional dollar of income. There are now four main federal tax brackets, with marginal rates that rise with each income bracket

The report, published by the C.D. Howe think-tank, says one of the problems that’s increasingly apparent is that it’s becoming easier for the wealthiest Canadians to respond to higher tax rates with manoeuvres that lower the amount of income subject to those higher rates.

The author argues that Canada’s tax system need to be reworked to reflect the global reality. The main problem, according to the report, is that the benefits of recent tax reforms, such as reductions to corporate taxes, have tended to go to those with the highest incomes.

Rather than reversing corporate tax cuts, which the report says enhance growth, the government should consider reforming the entire income tax system – specifically, by bringing in a dual income tax structure.

The report recommends that wages continue to be taxes progressively, but investments should be taxed at a low, uniform rate — a flat tax.

As part of the reform process, the report suggests that the tax treatment of stock options be tightened. It notes that stock options, which make up a large part of the compensation packages for many executives, now get special tax treatment. The report urges that stock options be treated like other labour compensation, such as wages, and to tax them at full rates as soon as practical.

Ottawa should then transform the Canadian tax system to a dual tax system, it recommends. Under this scenario, Canada would move to a flat tax rate on all forms of capital income, including interest and other investment income.

The report also calls for higher taxes on high income earners. Currently, the highest federal tax bracket – 29% – kicks in at income of $136,270. It suggests a higher bracket of 32% for employment income above $250,000 and 35% above $400,000.

This attempt to "clean up" the tax system would also require an end to some boutique tax breaks, like the children's fitness tax credit, the public transit tax credit and the volunteer firefighters’ amount.

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<![CDATA[Japanese stocks fall with auto makers]]>Thu, 27 Nov 2014 12:00:00 ESThttp://baystreet.ca/articles/foreignmarketwrap.aspx?id=2005Thursday, November 27, 2014

Japanese stocks fall with auto makers


Japan stocks posted a second straight day of drops on Thursday, as auto makers suffered heavy losses after the U.S. regulators ordered a nationwide recall of air bags made by Japanese company Takata Corp.

In Japan, the Nikkei 225 plummeted 135.08 points, or 0.8%, to 17,248.50. The yen, meanwhile, strengthened versus the U.S. dollar to ¥117.41 from ¥117.62 in the prior session.

In Hong Kong, the Hang Seng index dropped 107.70 points, or 0.5%, to 24,004.28

Auto-parts maker Takata Corporation sank 4.8%, after the U.S. National Highway Traffic Safety Administration ordered the company to recall its driver-side air bags nationwide.

Japanese auto makers suffered, with Honda Motor Co., Ltd. sliding 3.3%. Honda Motor had recalled cars with Takata airbags in March 2002, two years earlier than previously thought, according to a Reuters report.

Mazda Motor Corp. lost 2.4%, Nissan Motor Co., Ltd. dropped 1.6%, and Toyota Motor Corp. gave up 0.5%. Toyota Motor said Thursday it plans to call back about 57,000 vehicles in the world due to possibly defective airbags made by Takata, Reuters said.

In Seoul, the Kospi Composite Index inched up as Samsung Electronics Co., Ltd. surged 5.3%, after the tech giant said it would buy back $2 billion U.S. worth of shares, the first share buyback in seven years.

CHINA

Shanghai’s CSI 300 index gained 31.47 points, or 1.2%, to 2,754.49

Official data showed Thursday that China’s industrial profit swung to a decrease in October, as profits for the top companies dropped 2.1% from a year earlier, compared to a 0.4% increase for September profit.

In other markets;

Singapore’s Straits Times Index let go of 8.70 points, or 0.3%, to 3,340.96

The Taiex index in Taiwan advanced 42.92 points, or 0.5%, to 9,165.31

Korea’s Kospi index gained 1.25 points, or 0.1%, to 1,982.09

New Zealand’s Exchange 50 subtracted 2.01 points to 5,455.38

Australia’s S&P/ASX 200 gained 4.71 points, or 0.1%, to 5,400.92.


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<![CDATA[OPEC meeting could reveal fractures]]>Thu, 27 Nov 2014 12:00:00 ESThttp://baystreet.ca/articles/globalmarkets.aspx?id=1261The meeting of ministers from the Organization of Petroleum Exporting Countries could reveal diminished power for the group.

For years, the oil cartel held a firm grip on oil prices. In 1973, OPEC imposed an embargo. The price of oil shot up from $1.70 U.S. a barrel to $12.50 U.S. OPEC controlled much of the world’s oil supply. And it wielded that influence like a truncheon.

But slowly that grip loosened. The cartel has been beset by in-fighting. Members constantly cheated on their own production quotas. High prices encouraged other countries to produce oil of their own. Today, the United States is set to become the world’s largest producer of oil.
Keeping a lid on global prices is a difficult job that requires patience and discipline.

Today in Vienna, the once-mighty OPEC ministers gather under dramatically reduced circumstances.

One expert says the rise in oil production from non-OPEC countries combined with lower growth in China are the main factors driving down oil prices — a basic matter of supply and demand. More oil sloshing around the world today and a weaker global economy mean there’s less demand from people looking to power their factories and ship their goods.

In the midst of plummeting oil prices, OPEC countries are pushing for wildly different solutions. Saudi Arabia wants lower prices to force out the competition, especially in the U.S. and perhaps even Canada. Iran and Venezuela want higher prices to pay the bills.

Some analysts have said that unless OPEC countries agree to cut production, the price of oil could fall as low as $60 U.S. per barrel. Now, that would be welcome news to most of us. Driving your car, heating your home and shipping your goods will all become cheaper. But what does it mean for Canadian oil production?

A recent report from TD Bank says the effect of falling oil prices is often misunderstood. It points to a gap between what it costs to start an oilsands project and what it costs to keep existing ones running.

Whatever they decide, it’s clear the landscape has changed. The days of OPEC ministers dictating prices of oil are over. That said, the price of oil is still set by a dizzying array of influences. It’s still complicated. If anything, the diminished influence of OPEC may make it more difficult to predict than ever.

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<![CDATA[IPO Center - TSX-V]]>Mon, 13 Jan 2014 12:00:00 ESThttp://baystreet.ca/articles/ipo_tsx.aspx?id=10023 Company Name Ticker Date RepliCel Life Sciences Inc. RP 13-01-2014 Cleantech Capital Inc. YES.P 14-01-2014 Jet Metal Corp. JET 20-01-2014 Reliance Resources Limited RI 22-01-2014 West African Resources Limited WAF 24-01-2014 Westcap Investments Corp. WI 12-02-2014 Sonde Resources Corp. SOQ 19-02-2014 QMX Gold Corporation QMX 20-02-2014 Knight Therapeutics Inc. GUD 28-02-2014 PC Gold Inc. PKL 11-03-2014 Silver Predator Corp. SPD 13-03-2014 Baja Mining Corp. BAJ 17-03-2014 IOU Financial Inc. IOU 17-03-2014 Rockefeller Hughes Corporation RHC 20-03-2014 Chrysalis Capital IX Corporation NYN 28-03-2014 Northern Sun Mining Corp. NSC 16-04-2014 Cliffside Capital Ltd. CEP 17-04-2014 Till Capital Ltd. TIL 24-04-2014 Redzone Resources Ltd. REZ 28-04-2014 Alabama Graphite Corp. ALP 05-05-2014 Jaguar Financial Corporation JFC 21-05-2014 Lingxian Capital Inc. LXC.P 23-05-2014 Tribute Pharmaceuticals Canada Inc. TRX 27-05-2014 Dataminers Capital Corp. DMC.P 29-05-2014 Transeastern Power Trust TEP.DB 02-06-2014 X-Terra Resources Inc. XTT 03-07-2014 Starlight U.S. Multi-Family (No.3) Core Fund SUS.UN 09-07-2014 Searchtech Ventures Inc. MJN.P 16-07-2014 Whiteknight Acquisitions III Inc. WKA 21-07-2014 Petro-Victory Energy Corp. VRY 24-07-2014 Geovic Mining Corp. GMC 28-07-2014 01 Communique Laboratory Inc. ONE 31-07-2014 Leucrotta Exploration Inc. LXE 19-08-2014 Cluny Capital Corp CLN 20-08-2014 Maestro Capital Corporation MCP 21-08-2014 Manera Capital Corp. MEA 28-08-2014 Mediterranean Resources Ltd. MNR 02-09-2014 Eastwood Bio-Medical Canada Inc. EBM 05-09-2014 Orletto Capital Inc. OLE 09-09-2014 Rodeo Capital III Corp. ROP 17-09-2014 Mira IV Acquisition Corp. MRY 24-09-2014 Xander Resources Inc. XND 25-09-2014 Maple Peak Investments Inc. MAP.P 01-10-2014 Campar Capital Corporation CHK 24-10-2014 Niocan Inc. NIO 28-10-2014 Groupe Bikini Village inc. GBV 13-11-2014 Aumento Capital V Corporation AMN 13-11-2014 BFK Capital Corp. BFK 17-11-2014 Marching Moose Capital Corp. MMC 19-11-2014 Chieftain Metals Corp. CFB 21-11-2014]]><![CDATA[Futures modestly lower ahead of OPEC meeting ]]>Thu, 27 Nov 2014 12:00:00 ESThttp://baystreet.ca/articles/marketupdates.aspx?id=3778Thursday, November 27, 2014

08:29 AM EST
Futures modestly lower ahead of OPEC meeting

TransCanada in focus




Stock futures pointed to a slightly lower start for Canada's main stock index on Thursday, with investors looking ahead to the outcome of an OPEC meeting later in the day.

The S&P/TSX composite index dipped 35.24 points to close Wednesday at 15,038.41, with December futures dipping 0.02%.

The Canadian dollar dipped 0.014 cents to 88.89 cents U.S. early Thursday.

Trading is likely to be subdued, with U.S. markets shut for the Thanksgiving holiday.

TransCanada Corp, under pressure from an activist hedge fund to overhaul its business, said on Wednesday its board adopted new bylaws that require advance notice of director nominations.

CIBC cuts target price on Foraco International to $0.35 from $0.65, with a sector perform rating.

ON BAYSTREET

The TSX Venture Exchange fell 9.58 points Wednesday to 771.06.

ON WALLSTREET

U.S. markets are closed for Thanksgiving.




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<![CDATA[Stocks in Play: Columbus Gold Corporation]]>Wed, 26 Nov 2014 09:46:20 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=16899Wednesday, November 26, 2014

09:46 AM EST - Columbus Gold Corporation : announced the completion of the Phase II resource development diamond drilling campaign on its 100%-owned Montagne d'Or gold deposit, Paul Isnard Project, French Guiana. The Phase II program amounted to 126 holes, for a total of 25,570 metres. In addition, six large diameter HQ-calibre core holes totaling 975 metres were completed for the detailed metallurgical tests in progress. Assay results were released for 73 holes and results are pending for the remaining 53 holes of the program drilled within the principal Upper Felsic Zone. Columbus Gold Corporation (V.CGT) shares were unchanged at 0.47.

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<![CDATA[Stocks in Play: TransCanada Corporation]]>Wed, 26 Nov 2014 09:46:20 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=16900Wednesday, November 26, 2014

09:47 AM EST - TransCanada Corporation : announced today that its Prince Rupert Gas Transmission Project received an Environmental Assessment Certificate from the B.C. Environmental Assessment Office, allowing the natural gas pipeline project to move ahead pending a final investment decision from PETRONAS and receipt of a construction permit from the B.C. Oil & Gas Commission. TransCanada Corporation (T.TRP) shares were up $0.48 at 55.98.

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<![CDATA[Stocks in Play: Elkwater Resources Ltd.]]>Wed, 26 Nov 2014 09:46:20 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=16901Wednesday, November 26, 2014

09:48 AM EST - Elkwater Resources Ltd. : announced that it has obtained the final receipt for the (final) short-form prospectus filed in the provinces of Alberta, British Columbia, Saskatchewan, Manitoba and Ontario qualifying the distribution of 240,000,000 common shares in the capital of the Company and 120,000,000 Common Share purchase warrants issuable pursuant to the conversion of the 240,000,000 previously issued subscription receipts of the Company. Elkwater Resources Ltd. (V.ELW) shares were unchanged at 0.18.

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<![CDATA[Stocks in Play: OpenText ]]>Wed, 26 Nov 2014 09:46:20 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=16902Wednesday, November 26, 2014

09:50 AM EST - OpenText : announced that analyst firm Forrester Research, Inc. has named OpenText a leader in Digital Asset Management for Customer Experience in its new report. OpenText (T.OTC) shares were down $0.03 at 65.15.

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<![CDATA[Stocks in Play: Park Lawn Corporation]]>Wed, 26 Nov 2014 09:46:20 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=16903Wednesday, November 26, 2014

11:35 AM EST - Park Lawn Corporation : announced results for the third quarter ended September 30, 2014. Total revenue from continuing operations for the quarter was $5,468,806, an increase of 37% from the same quarter in 2013. Earnings from continuing operations increased to $642,161 in the quarter ended September 30, 2014, up 24% versus the prior year. Park Lawn Corporation (V.PLC) shares were unchanged at 12.

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<![CDATA[Stocks in Play: Allied Nevada Gold Corp.]]>Wed, 26 Nov 2014 09:46:20 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=16904Wednesday, November 26, 2014

11:36 AM EST - Allied Nevada Gold Corp. : has developed an optimized approach to the planned construction sequence for the Hycroft mill expansion. With the completion of the Hycroft mill expansion feasibility study entitled "NI 43-101 Technical Report, Mill Expansion Feasibility Study, Winnemucca, Nevada, USA" and dated November 3, in October, 2014, the company directed its focus to the first phase of the mill expansion with the goal of maintaining the throughput rate of the initial phase of the mill construction while minimizing upfront capital requirements. The capital re-sequencing and optimization exercise indicates that the company can begin operation of the first line of the mill for a capital outlay of approximately $768 million, a reduction of 18% from phase one costs that were shown in the feasibility study of approximately $934.5 million. Allied Nevada Gold Corp. (T.ANV) shares were down $0.07 at 1.85.

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<![CDATA[Stocks in Play: Pacific Ridge Exploration Ltd.]]>Wed, 26 Nov 2014 09:46:20 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=16905Wednesday, November 26, 2014

11:37 AM EST - Pacific Ridge Exploration Ltd. : provided an update on its 100%-owned Mariposa gold project and its Fyre Lake Cu-Au-Co massive sulphide project, under option to Merah Resources Ltd. Pacific Ridge has exercised its option with the underlying vendors and now owns a 100% interest in its Mariposa Project, subject to a 2% NSR royalty, half of which can be purchased by the Company for $1,000,000. Mariposa has seen over $6 million in exploration expenditures since 2010. At the Skookum Main Zone, 14 of 18 drill holes intersected gold mineralization, with the best hole encountering 2.44 grams per tonne gold over 39 m. Pacific Ridge Exploration Ltd. (V.PEX) shares were up $0.005 at 0.04.

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<![CDATA[Stocks in Play: Critical Outcome Technologies Inc.]]>Wed, 26 Nov 2014 09:46:20 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=16906Wednesday, November 26, 2014

03:33 PM EST - Critical Outcome Technologies Inc. : completed the third tranche of its previously announced non-brokered private placement with the issuance of 3,054,000 units at a price of $0.23 U.S. per Unit for gross Canadian dollar proceeds of approximately $793,000. In aggregate, the Company raised gross Canadian proceeds from the offering of approximately $2,629,000 through the sale of 10,177,760 Units. Critical Outcome Technologies Inc. (V.COT) shares were unchanged at 0.26.

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<![CDATA[Stocks in Play: IntelGenx Corp.]]>Wed, 26 Nov 2014 09:46:20 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=16907Wednesday, November 26, 2014

03:35 PM EST - IntelGenx Corp. : announced that it has settled its Paragraph IV litigation with Wockhardt Bio AG related to IntelGenx' Forfivo XL® 450 mg tablets. Under the terms of the settlement, Wockhardt has been granted the rights, with effect from January 15, 2018, to be the exclusive marketer and distributor of an authorized generic of Forfivo XL® in the U.S. IntelGenx Corp. (V.IGX) shares were up $0.10 at 0.58.

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<![CDATA[Net Loss Widens at DigiPath as Company Positions for Expanded Operations in Marijuana Industry in 2015]]>Wed, 26 Nov 2014 12:31:38 ESThttp://baystreet.ca/articles/stockstowatch.aspx?id=814Wednesday, November 26, 2014

Net Loss Widens at DigiPath as Company Positions for Expanded Operations in Marijuana Industry in 2015



Early in 2014, the Justice Department decided to take a less aggressive approach to drug enforcement related to marijuana in Colorado and Washington, the first two states in the Union to legalize recreational use of pot. Under the assumption that more states will continue to decriminalize marijuana in one fashion or another, the Marijuana Business Daily, a publication of CannaBusiness Media, lifted its projections for retail cannabis sales in the U.S., saying it now sees sales climbing from an estimated $2.2 - $2.6 billion in 2014 to as much as $8.2 billion in 2018.

Within those figures, medicinal cannabis sales are forecast at $4 billion and recreational sales are expected at up to $4.2 billion.

Any investor that hasn’t been in a cave for the last year or so is well aware of companies to and fro hopping into the marijuana business in a bid to establish a position and capitalize on the projected robust growth. Some companies completed changed business models, a developmental miner aiming to become a pot grower for example, and others set their sights on expanding operations into the cannabis space, such as DigiPath, Inc. (OTCQB: DIGP).

DigiPath has its roots in the digital pathology business, expanding into Ethiopia and Chile this year in fact, and during fiscal 2014 (ended September 30, 2014) augmented its legacy operations by creating three new business units to serve the cannabis industry: DigiPath Labs, DigiPath U™, and TNMNews.

Leveraging the company’s lab and FDA-compliance experience, DigiPath Labs is expected to test all forms of cannabis-based products for safety, as well as separating and quantitating the cannabinoid and terpenoid content of pot products.

One of the things the nascent cannabis industry lacks is a clear set of standards, a shortcoming that DigiPath seems to be aligning to address. The state-of-the-art lab is slated to open early in 2015, according to DigiPath. Earlier this month, DigiPath Labs received one of four provisional licenses from the State of Nevada to operate a cannabis-testing laboratory in Las Vegas.

The other two new units are on the information and educational end of the marijuana spectrum. DigiPath U is developing a two-day seminar and "modularized" six-week online course to teach people about the cannabis business and provide guidance to those looking to enter the space. Targeted launch is mid-2015.

Launched in May, TNMNews (short for The National Marijuana News) is a cannabis news website and talk radio show covering all aspects of the marijuana industry.

The expansion in the cannabis space resulted in a growing net loss for DigiPath in fiscal 2014 as shown in a 10-K filing with the SEC on Tuesday and discussed in a corporate press release Wednesday. Revenue, which is derived exclusively from the microscopy business, slipped from $567,192 in fiscal 2013 to $485,870 in the recent year. Net loss in the microscopy segment widened to $508,303 from $329,647. Net loss in the cannabis business totaled $2.32 million.

On the bright side, DigiPath raised $8.2 million from accredited investors during its third fiscal quarter 2014, with $1 million of that dedicated to the digital pathology unit. Another $1 million was invested in content and curriculum development for DigiPath U. The company ended the fiscal year with $5.1 million in cash and total liabilities beneath $200,000, according to the news today.

"As the cannabis industry expands, demand for qualified laboratories, comprehensive education, and reliable news is growing," said DigiPath chief executive Todd Denkin in a statement. "We believe we are in the right place at the right time."

Over the past four months, Wall Street hasn’t necessarily seemed to agree, with the share price plunging from over $1.00 to a low of 2.5 cents on Monday. A rebound is in the making in early Wednesday trading, though, with the stock price bouncing 40.4% to four cents.

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<![CDATA[OPEC factoring into currency equation]]>Wed, 26 Nov 2014 09:32:01 ESThttp://baystreet.ca/articles/forex_trader.aspx?id=20039
The focus for the rest of the week will centre around position squaring the rest of today and the wrap-up of tomorrow’s OPEC meeting. A key focus for Canadian dollar watchers will be the announcement regarding any adjustment to production. Everyone except the Saudis are cautious about commenting on any potential change, however, investors did have Venezuela commenting that that country would prefer to cut and believes oil should remain around $100 per barrel.

Experts expect a range today of 1.1210 to 1.1300 Canadian for the U.S. dollar.

The euro is strong this morning, up 0.25% from yesterday’s close. One official with the European Central Bank commented that the central bank would consider buying sovereign bonds in Q1 2015, if current policies are ineffective. The euro has gained around 150 basis points the past three sessions after last week’s one-day 300-bps plummet from comments by ECB President Mario Draghi. The continental currency is currently trading at 1.4065 Canadian.

Observers expect a range today of 1.4087 to 1.4019 Canadian

The pound is up 0.53% from yesterday’s close. Third-quarter U.K. Gross Domestic Product was released this morning and was inline printing at 3.0%. Private consumption and government spending were stronger than expected, however, investment and trade were softer than forecast. The sterling has essentially retraced all of last week’s loss and is now trading just below resistance levels of 1.7804 Canadian, currently trading at 1.7777 Canadian.

The Australian dollar continues to trade lower and has dropped for the third consecutive day. Australian construction figures came in weaker than expected, adding downward pressure on the currency. The Aussie tested a new low overnight and opened at 0.9592 Canadian this morning.

The New Zealand dollar has been relatively flat, within yesterday’s range. There will be New Zealand Trade Balance figures this afternoon at 4:45 pm EST. Meanwhile, the kiwi opened at 0.8850 Canadian this morning.

Data Releases

CAD: No data

AUD: Private Capital Expenditure

EUR: No data

GBP: GDP

JPY: No data

NZD: Trade Balance

USD: New Home Sales + Unemployment Claims + Core Durable Goods Order]]>
<![CDATA[Top Analysts Action: SRPT, VAL, VNET, CUB, CLUB]]>Wed, 26 Nov 2014 11:07:32 ESThttp://www.baystreet.ca/articles.aspx?id=28480<![CDATA[Time Warner (TWX) gains on Tencent deal ]]>Wed, 26 Nov 2014 10:45:22 ESThttp://www.baystreet.ca/articles.aspx?id=28479<![CDATA[Tivo (TIVO) fell after missing earnings forecasts]]>Wed, 26 Nov 2014 10:43:54 ESThttp://www.baystreet.ca/articles.aspx?id=28478<![CDATA[TASER International (TASR) gains on new contracts]]>Wed, 26 Nov 2014 10:42:19 ESThttp://www.baystreet.ca/articles.aspx?id=28477<![CDATA[Hertz (HTZ) falls as Icahn buys in]]>Wed, 26 Nov 2014 10:40:41 ESThttp://www.baystreet.ca/articles.aspx?id=28476<![CDATA[Hewlett-Packard (HPQ) hikes after Tuesday fall ]]>Wed, 26 Nov 2014 10:39:10 ESThttp://www.baystreet.ca/articles.aspx?id=28475<![CDATA[Deere & Co. (NYSE: DE) falls on sales forecasts]]>Wed, 26 Nov 2014 10:37:45 ESThttp://www.baystreet.ca/articles.aspx?id=28474<![CDATA[Lakeland Industries (LAKE) scale back from Tuesday hike]]>Wed, 26 Nov 2014 10:35:16 ESThttp://www.baystreet.ca/articles.aspx?id=28473<![CDATA[SeaDrill (SDRL) falls with earnings]]>Wed, 26 Nov 2014 10:33:48 ESThttp://www.baystreet.ca/articles.aspx?id=28472<![CDATA[Ctrip.com International (CTRP) plummets on profits, forecast]]>Wed, 26 Nov 2014 10:31:18 ESThttp://www.baystreet.ca/articles.aspx?id=28471