Baystreet.ca RSS Feed http://www.baystreet.ca/rss/MasterRSS.aspx en-us Copyright (c) 2016 Baystreet.ca Inc. All rights reserved. 7/24/2016 10:35:03 AM <![CDATA[WestJet Airlines "OUTPERFORM"]]>Fri, 22 Jul 2016 11:59:00 ESThttp://baystreet.ca/articles/analyst_ratings.aspx?26546<![CDATA[Gold Prices Ease on Fed Nerves]]>Fri, 22 Jul 2016 02:49:00 ESThttp://baystreet.ca/articles/commodities.aspx?id=699Friday, July 22, 2016


Gold Prices Ease on Fed Nerves


Gold prices subsided on Friday, reflecting tension between an easier global interest rate backdrop and the chance of U.S. monetary policy being tightened before the end of the year.

Spot gold shed 0.5% to stand at $1,323.72 U.S. an ounce, on a path for a weekly decline of about 1% U.S. gold was down 0.6% at $1,323.40 U.S. an ounce. Gold futures settled on Friday at $1323.40 U.S. an ounce.

Bullion hit its highest in two years this month — as central banks from Europe to Japan were choosing to keep policy looser for longer, thus neutralizing the opportunity cost of holding an asset that does not pay interest.

However, the U.S. dollar has gained ground recently on strong readings on the U.S. labour market and inflation, boosting bets that the U.S. Federal Reserve will raise rates stateside by year-end.

In other metals, spot palladium fell 0.1% to $682.00 U.S., having touched its highest since late October 2015 the previous day.

Spot silver, which fell to its lowest in nearly two weeks on Thursday, was down 0.6% at $19.63 U.S. an ounce while spot platinum lost 1.8% to $1,077.60 U.S.

]]>
<![CDATA[Reports: Verizon Is Nearing Deal To Acquire Yahoo!]]>Fri, 22 Jul 2016 02:58:00 ESThttp://baystreet.ca/articles/techinsider.aspx?id=680Friday, July 22, 2016

Reports: Verizon Is Nearing Deal To Acquire Yahoo!


One of the worst-kept secrets on the street is much closer to becoming a reality, according to reports.

For weeks rumors have been swirling that Verizon Communications (NYSE: VZ) was one of the parties interested in acquiring Yahoo! (NASDAQ: YHOO). It appears both sides are very close to announcing a deal.

Reports indicate Verizon may pay up to $5 billion U.S. for Yahoo’s core internet business, a price tag that doesn’t include things like the company’s patents or its real estate.

After years of trying to turn the company around, Yahoo CEO Marissa Mayer finally gave into critics months ago and announced the company would look at strategic alternatives for parts of its business. Remember, Yahoo’s stake in Alibaba has grown to the point where it dwarfs the rest of its assets.

Other companies included in the bidding process were reportedly AT&T, as well as several buyout firms. Quicken Loans founder Dan Gilbert was also rumored to be making a bid, with Warren Buffett supplying the capital.

With wireless growth slowing, Verizon has been aggressive in buying up web properties, including AOL last year. If it acquires Yahoo, it will be a solid number three in digital ad sales, a market dominated by Google and Facebook. These properties also give it plenty of opportunities to push its own products to millions of readers in a cost effective way.

Yahoo shares rose 1.2% in early trading on Friday to $39.31. Verizon shares were up a similar amount, increasing 1.1% to 55.99. Both companies are quite close to 52-week highs.

]]>
<![CDATA[Economic Calendar]]>Sun, 24 Jul 2016 10:35:03 ESThttp://baystreet.ca/articles/econ_calendar.aspx?id=18125July 2016
 

DATE

STATISTIC FOR CURRENT MONTH PREVIOUS MONTH
Monday, July 04, 2016 RBC Manufacturing PMI: 9:30am June Adjusted for seasonal influences, the RBC Canadian Manufacturing PMI registered 51.8 in June, down from 52.1 in May. The seasonally adjusted RBC Canadian Manufacturing PMI read 52.1 in May, above the neutral 50.0 mark and only fractionally lower than the 16-month high of 52.2 recorded in April.
Wednesday, July 06, 2016 Canadian International Merchandise Trade: 8:30am May Canada's exports fell 0.7% to $41.1 billion in May, while imports decreased 0.8% to $44.4 billion. As a result, Canada's merchandise trade deficit with the world in May was virtually unchanged compared with April at $3.3 billion. Canada's exports increased 1.5% to $41.8 billion in April. Export prices were up 1.1% and volumes rose 0.5%. Imports increased 0.9% to $44.7 billion, as volumes were up 0.8% and prices edged up 0.1%. As a result, Canada's merchandise trade deficit with the world narrowed from $3.2 billion in March to $2.9 billion in April.
Thursday, July 07, 2016 IVEY Purchasing Managers Index: 10:00am June Western University's IVEY Purchasing Managers' Index came in at 51.7 for June, compared to 49.4 in May, and 55.9 for June 2015. The IVEY Purchasing Managers' Index came in at 49.4 in May, compared to 53.1 for April.
Thursday, July 07, 2016 Building Permits: 8:30am May Municipalities issued building permits worth $6.8 billion in May, down 1.9% from the previous month. The value of building permits issued by municipalities edged down 0.3% to $6.9 billion in April. This marked the second consecutive monthly decline and was largely the result of lower construction intentions in Ontario, Quebec and Nova Scotia.
Friday, July 08, 2016 Labour Force Survey: 7:00am June Employment was unchanged in June. The unemployment rate declined 0.1 percentage points to 6.8%, as the number of people searching for work edged down. Employment gained 14,000 or +0.1% in May. The unemployment rate declined 0.2 percentage points to 6.9%, the lowest rate since July 2015.
Monday, July 11, 2016 Housing Starts: 8:15am June Canadian Mortgage and Housing Corporation reported that the seasonally-adjusted annualized rate of housing starts rose to 218,333 in June, up from a revised 186,709 in May. Economists had forecast 190,000 starts in June. Canada Mortgage and Housing Corp showed the seasonally adjusted annualized rate of housing starts fell to 188,570 units last month from a downwardly revised 191,388 in April. May's figure was short of economists' expectations for 190,000.
Thursday, July 14, 2016 New Housing Price Index: 8:30am May The New Housing Price Index rose 0.7% in May, following a 0.3% increase in April. The New Housing Price Index rose 0.3% in April, following a 0.2% increase in March.
Friday, July 15, 2016 CREAstats - MLS Sales: 8:30am June The Canadian Real Estate Association (CREA), reported national home sales fell 0.9% from May to June. Actual (not seasonally-adjusted) activity came in 5.2% above June 2015. The number of newly listed homes rose 2.2% from May to June. The Canadian Real Estate Association reported national home sales dropped 2.8% in May, after setting new records in April. Actual (not seasonally-adjusted) activity was up 9.6% compared to May 2015.
Friday, July 15, 2016 Monthly Survey of Manufacturing: 8:30am May Manufacturing sales declined 1.0% to $49.9 billion in May, the third decrease in five months. Manufacturing sales rose 1.0% to $50.4 billion in April, ending a two-month losing streak.
Monday, July 18, 2016 Canada's International Transactions in Securities: 8:30am May Foreign investment in Canadian securities remained high at $14.7 billion in May, led by acquisitions of federal government bonds on the secondary market. At the same time, Canadian investors added $5.1 billion of foreign securities to their holdings, mainly equities. Foreign investment in Canadian securities amounted to $15.5 billion in April, the fourth straight month of relatively strong activity. Meanwhile, Canadian investors acquired $4.7 billion of foreign securities, mainly debt instruments.
Thursday, July 21, 2016 Employment Insurance: 8:30am May In May, 544,900 people received regular Employment Insurance benefits, up 4,800, or 0.9%, from the previous month. In April, 538,400 people received regular Employment Insurance benefits, down slightly from the previous month
Thursday, July 21, 2016 Wholesale Trade: 8:30am May Wholesale sales rose 1.8% to $55.9 billion in May. Wholesale sales edged up 0.1% to $54.8 billion in April, after two consecutive monthly declines.
Friday, July 22, 2016 Consumer Price Index: 7:00am June The Consumer Price Index (CPI) rose 1.5% in the 12 months to June, matching the gain in May. On a seasonally adjusted monthly basis, the CPI increased 0.2% in June, matching the gain in May. The Consumer Price Index rose 1.5% in the 12 months to May, after increasing 1.7% in April. On a seasonally adjusted monthly basis, the CPI increased 0.2% in May, matching the gain in April.
Friday, July 22, 2016 Retail Trade: 8:30am May Following a 0.9% increase in April, retail sales rose 0.2% to $44.3 billion in May. Sales were up in six of 11 subsectors, representing 51% of retail trade Following a 0.8% decline in March, retail sales rose 0.9% to $44.3 billion in April. Sales were up in seven of 11 subsectors, representing 64% of total retail sales.
Thursday, July 28, 2016 Average Weekly Earnings May --- Average weekly earnings of non-farm payroll employees were $956.00 in April, little changed from the previous month (-0.3%) and from 12 months earlier (+0.2%).
Friday, July 29, 2016 GDP: 8:30am May --- After decreasing in February and March, real gross domestic product edged up 0.1% in April.
Friday, July 29, 2016 Raw Materials Price Index: 8:30am June --- The Raw Materials Price Index rose 6.7%, led by a gain in prices for crude energy products.
Friday, July 29, 2016 Industrial Product Price Index: 8:30am June --- The Industrial Product Price Index increased 1.1% in May, mainly due to higher prices for energy and petroleum products.
]]>
<![CDATA[Conference Board Downgrades '16 Forecast]]>Fri, 22 Jul 2016 08:50:00 ESThttp://baystreet.ca/articles/economiccommentary.aspx?id=1659Conference Board Downgrades '16 Forecast


The Conference Board of Canada is also lowering its growth forecast for the Canadian economy this year.

The think-tank cited this spring's wildfires in Fort McMurray and a slide in business investment in the oil and gas sector as it issued a new forecast that downgrades its growth expectations for the domestic economy from 1.6 per cent to 1.4 per cent for 2016.

The downgrade echoed a move earlier this week by the International Monetary Fund, which lowered its 2016 forecast for Canadian growth from 1.5% to 1.4%, also citing weakness in the resource sector.

The Conference Board said business investment in the oil and gas sector is forecast to fall by $14 billion this year with the price of oil expected to remain near $50.00 U.S. a barrel.

The board goes on to cite weakness in the global economy as another agent weighing things down here, as the U.K.'s vote to leave the European Union and the failed coup in Turkey could hurt business confidence.

It also says the low Canadian dollar will not be enough to stop export growth from slowing, as U.S. consumers remain cautious and the global outlook is uncertain.

The fires that swept through northern Alberta in May and June are forecast to cause a 0.1% hit to the country's economic growth this year, as many oilsands operations had to shut down, costing our coffers in the billions for lost revenue.

Earlier this month, the Bank of Canada lowered its expectations for economic growth this year to just 1.3%. That's down from the 1.7% the bank was forecasting as recently as April.

]]>
<![CDATA[Asia Mostly Falls to End Week ]]>Fri, 22 Jul 2016 07:52:00 ESThttp://baystreet.ca/articles/foreignmarketwrap.aspx?id=2416Friday, July 22, 2016

Asia Mostly Falls to End Week


Asia markets fell on Friday, with shares of Nintendo and McDonald's Holdings losing steam after initially jumping on the news the highly popular "Pokemon Go" app finally launched in Japan, after weeks of anticipation.

The Nikkei 225 retreated 182.97 points, or 1.1%, to 16,627.25, with stocks likely under pressure from a relatively stronger yen. For the week, the Japanese benchmark index climbed 0.8%

In Hong Kong, the Hang Seng Index dropped 36.22 points, or 0.2%, to 21,964.27

The Japanese yen strengthened against the dollar overnight, with the currency pair trading at 106.03 on Friday afternoon, compared with levels near 107.15 on Thursday afternoon local time and near 100 two weeks earlier.

The spike in the yen came after Bank of Japan Governor Haruhiko Kuroda, in speaking to the media on Thursday, ruled out the possibility of "helicopter money" - or essentially printing money and distributing payouts - to tackle deflation in Japan, amid building expectations that policymakers were gearing up to introduce more stimulus.

Previously, Japan's Kyodo News reported, citing sources close to the matter, that the Japanese government was compiling a stimulus package of at least 20 trillion yen ($188 billion U.S.) to help the domestic economy emerge from deflation, and to fend off possible adverse effects from Brexit.

Nintendo shares closed up 0.8% at 28,220 yen, giving up much of its nearly 5% rise earlier. Nintendo, which has seen its shares nearly double since July 6 when the app was first launched in the U.S., owns stakes in both the creators of Pokemon, The Pokemon Company and game developer of "Pokemon Go," Niantic.

So far, the app is available in the U.S., Australia, New Zealand and Canada as well as many European countries, and most recently Japan.

McDonald's Holdings shares closed up 4.2% at 3,620 yen, paring some of nearly 8% gains in morning trade. The fast-food company reportedly sponsored the game in Japan, with its stores becoming part of the game as "gyms" where the Pokemon characters can train.

In company news, shares of Samsung Electronics dropped 1.8%. Reuters reported before market open that the consumer electronics maker had sued Chinese technology company Huawei Technologies for patent infringements, with filings in multiple courts in China.

The move escalated an ongoing legal conflict between the two. Huawei, in May, said it sued Samsung in the U.S. and China, accusing the South Korean company of patent infringement for fourth-generation cellular communications technology

Shares of South Korean automaker Kia closed flat, with investors largely overlooking news about the carmaker's manufacturing expansion into India.

Media reports said Kia is expected to pick a site next month for its first factory in the South Asian country. Reuters said the move would allow Kia to leverage the existing supplier base of its affiliate Hyundai Motor, India's second-biggest automaker by sales.

Hyundai Motor shares were down 0.8%

In other markets

The Shanghai CSI 300 fell 27.36 points, or 0.8%, to 3,225.16

The Taiex Index in Taiwan slumped 43.42 points, or 0.5%, to 9,013.14

In Singapore, the Straits Times Index recovered 4.87 points, or 0.2%, to 2,945.35

In Korea, the Kospi doffed 1.88 points, or 0.1%, to 2,010.34

In New Zealand, the NZX 50 added 12 points, or 0.2%, to 7,226.06

The ASX 200 subtracted 12.98 points, or 0.2%, to 5,461.11


]]>
<![CDATA[Brexit Could Dampen U.K. Economy]]>Fri, 22 Jul 2016 08:57:00 ESThttp://baystreet.ca/articles/globalmarkets.aspx?id=1660It's been one month since the U.K. voted to leave the European Union and British businesses are already taking a major hit.

New data from IHS Markit showed Friday an early reading of factory and services activity in July revealed the sharpest decline in output since the height of the global financial crisis

The group's flash purchasing managers index, which tracks the whole economy, slumped sharply to its lowest level in more than seven years in the aftermath of the June 23 referendum. Output and new orders both fell for the first time since the end of 2012.

Markit's services purchasing managers' index, which tracks sales, employment, inventories and prices, slumped to 88-month low of 47.4 in July, from 52.3 in June.

A reading below 50 signals contraction in the crucial services sector. Services make up 80% of the U.K. economy.

Figures are showing factories are also feeling the pain, with Markit's manufacturing index falling to its lowest level in more than three years.

The pound has plunged 12% against the dollar since the referendum. That should boost exporters, but other manufacturers could be hit by higher import costs.

The pound sterling fell after the survey was released on Friday, having risen 0.3% before the data came out and dipped 0.4% afterward.

]]>
<![CDATA[IPO Center - TSX-V]]>Wed, 09 Dec 2015 12:00:00 ESThttp://baystreet.ca/articles/ipo_tsx.aspx?id=10023 Company Name Ticker Date BioNeutra Global Corporation BGA 09-12-2015 International Datacasting Corporation IDC 14-12-2015 Buffalo Coal Corp. BUF 18-12-2015 Orezone Gold Corporation ORE 21-12-2015 IDM Mining Ltd. IDM 30-12-2015 Percy Street Capital Corporation PSC 12-01-2016 New Global Acreage Resources Ltd. RAP.P 13-01-2016 McorpCX, Inc. MCX 03-02-2016 Nurcapital Corporation Ltd. NCL 04-02-2016 CaNickel Mining Limited CML 05-02-2016 Axios Mobile Assets Corp. AXA 29-02-2016 Brassneck Capital Corp. BC.P 15-03-2016 MDN Inc. MDN 31-03-2016 Black Lion Capital Corp. BLC 01-04-2016 CUP Capital Corp. CPU 08-04-2016 Nobelium Tech Corp. NBL.P 13-04-2016 Spada Gold Ltd. SPL 14-04-2016 Era Resources Inc. ERX 18-04-2016 Helius Medical Technologies, Inc. HSM 18-04-2016 Huffington Capital Corporation HU.P 19-04-2016 Nova Leap Health Corp. NLH.P 26-04-2016 Targeted Microwave Solutions Inc. TMS 17-05-2016 Cortina Capital Corp. CCN 17-05-2016 Mercal Capital Corp. MUL 18-05-2016 Westshire Capital II Corp. WSH 31-05-2016 IMEX Systems Incorporated IMX 14-06-2016 Kneat.com Inc. KSI 05-07-2016 Fortune Bay Corp. FOR 05-07-2016 GoviEx Uranium Inc. GXU 11-07-2016 Mbac Fertilizer Inc. MBC 12-07-2016]]><![CDATA[TSX at High for Year]]>Fri, 22 Jul 2016 04:35:00 ESThttp://baystreet.ca/articles/marketupdates.aspx?id=5423Friday, July 22, 2016

04:35 PM EST
TSX at High for Year

Telecoms Make Strides



Canada's main stock index notched its highest close in more than a year on Friday, boosted by gains for telecom and utilities stocks as it recorded a fourth straight weekly gain.

The S&P/TSX Composite climbed 35.26 points to close the day and the week at 14,601.09.

The Canadian dollar dropped 0.34 cents to 76.07 cents U.S.

Telecoms proved the champions of trading Friday, as BCE gained 40 cents to close out at $63.15, while TELUS catapulted 69 cents, or 1.6%, to $43.96.

Gold also shone brighter, as Barrick Gold climbed 31 cents, or 1.2%, to $27.03, and Goldcorp gained 36 cents, or 1.5%, to $24.09.

Health-care issues didn’t fare so well, however, as Valeant Pharmaceuticals shares faded two dollars, or 6.2%, to $30.03, while rival Concordia International dipped $1.19, or 4.5%, to $25.55.

Base metals stocks also waned, as Teck Resources dropped 11 cents to $17.85, while First Quantum Minerals gave back a nickel to $9.99.

On the economic slate, Statistics Canada reported that consumer price index figures rose 1.5% in the 12 months to June, matching the gain in May. On a seasonally-adjusted monthly basis, the CPI increased 0.2% in June, matching the gain in May.

Moreover, retail sales rose 0.2% to $44.3 billion in May, following a 0.9% increase in April. Sales were up in six of 11 sub-sectors, representing 51% of retail trade

ON BAYSTREET

The TSX Venture Exchange prospered 3.1 points to 769.30

Eight of the 13 subgroups were higher, with telecoms up 1.3%, utilities and gold each hiking 0.6%

The five laggards were weighed by health-care, down 2.4%, metals and mining, down 0.8%, and information technology off 0.1%.

ON WALLSTREET

U.S. stocks closed higher for the fourth straight week Friday, with the S&P hitting a new record high, as investors waded through mixed earnings and an upbeat U.S. manufacturing report.

The Dow Jones Industrials moved higher 53.62 points to 18,570.85, as IBM added the most gains and Apple had the biggest negative dollar-impact.

The S&P 500 jumped 9.86 points to 2,175.03, with utilities leading all 10 sectors in the green.

The NASDAQ hiked 26.26 points to 5,100.16

Despite beating Wall Street consensus estimates, General Electric was the biggest laggard on the Dow after reporting a 2% drop in orders for the second quarter.

GE, often looked at as a bellwether for the overall economy, posted earnings five cents a share above estimates and revenue was up 15% from a year ago, the company said in a statement. Earnings were helped by its aviation, health-care and power businesses

American Airlines was among the biggest gainers on the S&P, leading transports higher after meeting second-quarter estimates.

Honeywell, Stanley Black & Decker, and Whirlpool also topped estimates, while Starbucks, Chipotle, and Skechers were among the misses.

Of the S&P 500 companies reporting as of Thursday, roughly 65% beat estimates, according to Thomson Reuters.

Morgan Stanley joined Goldman Sachs, Citigroup, JPMorgan Chase, and Bank of America on the list of U.S. financial institutions topping second-quarter profit forecasts this week.

Economically speaking, U.S. manufacturing in July hit its best level since October, according to data provider Markit. The purchasing manager's flash index compiled by Markit rose to 52.9 from 51.3.

Prices for the 10-year Treasury gained ground, lowering yields back to Thursday’s 1.56%. Treasury prices and yields move in opposite directions.

Oil prices backtracked 49 cents a barrel to $44.26 U.S.

Gold prices subtracted $8.10 to $1,322.90 U.S. an ounce.





]]>
<![CDATA[Stocks in Play: Horizon North Logistics Inc.]]>Fri, 22 Jul 2016 09:53:43 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=20778Friday, July 22, 2016

09:53 AM EST - Horizon North Logistics Inc. : Has entered into a Binding Letter of Intent with respect to the acquisition of Empire Camp Equipment Ltd. Horizon North and Empire have agreed to a purchase price of approximately $44.5 million, payable through a combination of cash and newly issued Horizon North common shares. Horizon North Logistics Inc. (T.HNL) shares were up $0.13 at 1.7.

]]>
<![CDATA[Stocks in Play: Itasca Capital Ltd.]]>Fri, 22 Jul 2016 09:53:43 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=20779Friday, July 22, 2016

09:55 AM EST - Itasca Capital Ltd. : Has closed its previously announced subscription for 10,000,000 Class A Preference Interests of 1347 Investors LLC for a purchase price of $1.00 U.S. per Class A Interest, for an aggregate total of $10,000,000 U.S. Itasca Capital Ltd. (V.ICL ) shares were unchanged at 0.6.

]]>
<![CDATA[Stocks in Play: Tesla Exploration Ltd.]]>Fri, 22 Jul 2016 09:53:43 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=20780Friday, July 22, 2016

09:57 AM EST - Tesla Exploration Ltd. : Continues to negotiate with its U.K. and Canadian lenders to reach an agreement regarding the Company's immediate future. The Company has received notification that the current agreement has been extended to July 22. A failure to reach an agreement would have a material adverse effect on the Company including the possibility of the Company being placed into receivership. Tesla Exploration Ltd. (T.TXL) shares were unchanged at 0.51.

]]>
<![CDATA[Stocks in Play: Valeant Pharmaceuticals International, Inc.]]>Fri, 22 Jul 2016 09:53:43 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=20781Friday, July 22, 2016

09:58 AM EST - Valeant Pharmaceuticals International, Inc. : Has received a Complete Response Letter (CRL) from the U.S. Food and Drug Administration (FDA) regarding the New Drug Application (NDA) for latanoprostene bunod ophthalmic solution, 0.024%, an intraocular pressure lowering single-agent eye drop for patients with open angle glaucoma or ocular hypertension. The concerns raised by the FDA pertain to a Current Good Manufacturing Practice inspection at Bausch + Lomb's manufacturing facility in Tampa, Florida where some deficiencies were identified by the FDA. The FDA's letter did not identify any efficacy or safety concerns with respect to the NDA or additional clinical trials needed for the approval of the NDA for latanoprostene bunod ophthalmic solution, 0.024%. Valeant Pharmaceuticals International, Inc. (T.VRX) shares were down $0.86 at 31.17.

]]>
<![CDATA[Stocks in Play: Ithaca Energy Inc.]]>Fri, 22 Jul 2016 09:53:43 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=20782Friday, July 22, 2016

11:46 AM EST - Ithaca Energy Inc. : Reports that the "FPF-1" floating production facility has completed the required inclination test as planned and departed the Remontowa shipyard in Gdansk, Poland. The vessel has been moved to a deep water location offshore Gdansk to undertake final marine system trials over the course of next week. Upon completion of these trials, the FPF-1 will commence the tow to the Stella field. Ithaca Energy Inc. (T.IAE) shares were unchanged at 1.02.

]]>
<![CDATA[Stocks in Play: Elcora Advanced Materials Corp.]]>Fri, 22 Jul 2016 09:53:43 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=20783Friday, July 22, 2016

11:48 AM EST - Elcora Advanced Materials Corp. : Announced that graphite nano-platelets are formed as a by-product from the laboratory of Elcora's subsidiary, the Graphene Corp. This provides the company with another product line in a growing market. Elcora Advanced Materials Corp. (V.ERA) shares were up $0.01 at 0.39.

]]>
<![CDATA[Stocks in Play: Husky Energy ]]>Fri, 22 Jul 2016 09:53:43 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=20784Friday, July 22, 2016

11:50 AM EST - Husky Energy : million, which takes into account the factors affecting cash flow as well as three non-cash items: a $71 million after-tax loss associated with the dispositions, a $12 million after-tax property impairment and $22 million in exploration and evaluation asset write-downs. Excluding the above non-recurring items, the adjusted net loss was $91 million. Husky Energy (T.HSE) shares were up $0.27 at 15.69.

]]>
<![CDATA[Stocks in Play: Timmins Gold Corp.]]>Fri, 22 Jul 2016 09:53:43 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=20785Friday, July 22, 2016

03:48 PM EST - Timmins Gold Corp. : Announced the completion of the sale of the Caballo Blanco Gold Project in Veracruz, Mexico announced on May 11 with Candelaria Mining Inc. Timmins Gold Corp. (T.TMM) shares were down $0.04 at 0.64.

]]>
<![CDATA[Stocks in Play: Candelaria Mining Corp.]]>Fri, 22 Jul 2016 09:53:43 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=20786Friday, July 22, 2016

03:49 PM EST - Candelaria Mining Corp. : Announced the completion of the acquisition of the Caballo Blanco Gold Project in Veracruz, Mexico from Molimentales Del Noroeste, SA de CV, a subsidiary of Timmins Gold Corp. Pursuant to the terms of the agreement, Candelaria has made a final payment of $3.154 million U.S. to Timmins to acquire the Caballo Blanco Gold Project and deferred a $2.5-million U.S. payment to be made at the earlier occurrence of the Company receiving permits or June 24, 2017, secured by a promissory note and security interest. Candelaria Mining Corp. (V.CXX) shares were down $0.01 at 0.32.

]]>
<![CDATA[New Millennium Files Technical Report, Laying The Groundwork For Future Growth]]>Fri, 22 Jul 2016 02:17:00 ESThttp://baystreet.ca/articles/stockstowatch.aspx?id=1279Friday, July 22, 2016

New Millennium Files Technical Report, Laying The Groundwork For Future Growth



Iron ore prices dropped to multi-year lows in 2015 and the outlook at the end of last year was extremely bearish. Iron ore prices dropped amid a slowdown in demand from China, the most important consumer for the raw material, and increasing supplies.

At the peak of the commodities boom, major producers such as BHP Billiton (NYSE: BHP) and Rio Tinto (NYSE: RIO) invested heavily to increase their production. Their bet was that increased production would meet China’s ever rising demand.

But as China began its transition from an investment- and export-led economy to one led by consumption, its demand for raw materials slowed down considerably. Unfortunately for mining companies, this slowdown in demand coincided with increasing supplies.

Instead of scaling back though, majors have continued to ramp up production. Their strategy is to win market share at the expense of lower prices. Once the market re-balances, major miners such as BHP and RIO believe that will get better prices and also enjoy higher market share.

The strategy though has hurt miners’ cash flows and is likely to put pressure in the medium term.

Still if majors can get through this period, they have the potential to generate significant long-term value for shareholders.

New Millennium Iron Corp. (TSX:NML) is a Calgary-based company, with an extensive property position in Canadas principal iron ore district, the Labrador Trough, straddling the Province of Newfoundland and Labrador and the Province of Québec, in the Menihek Region around Schefferville.

The company’s project areas are connected via a well-established, heavy-haul rail network to the Port of Sept-Îles, Québec. NML is in a strategic partnership with Tata Steel, a global steel producer and industry leader. Tata Steel owns approximately 26.2% of the Company and is the Companys largest shareholder.

Together through Tata Steel Minerals Canada Ltd., which is owned 94% by Tata Steel and 6%

by the Company, the two companies have developed a direct shipping ore (``DSO``) project that is producing and shipping sinter fines.

Yesterday morning, New Millennium Iron announced the filing on SEDAR of the National Instrument 43-101 compliant technical report ("Report") stating the highlights of Pre-Feasibility
Study (``Study``) results for the Company``s NuTac project initiative (see news releases 16-15 dated June 9, 2016 and 15-12 dated September 16, 2015).

The Company seems to have a similar strategy to the above mentioned majors in that they arelaying the groundwork for a future time when commodities see a new leg up from increased demand and decreased supply. The stock has been trading in wild swings, but as of today, shares of NML are priced at around the same level as they were at the beginning of the year.

]]>
<![CDATA[Inflation Figures Work into Dollar Mix ]]>Fri, 22 Jul 2016 09:44:29 ESThttp://baystreet.ca/articles/forex_trader.aspx?id=26553
Experts expect a range today of $1.3043 to $1.3160 Canadian for the U.S. dollar.

There were no surprises at the European Central Bank press conference yesterday leaving the euro with minimal movement. Purchasing Managers' Index data in July was the theme this morning in Europe as they were mainly better than expected. French and German Manufacturing, Services and Composite PMI all showed strong figures beating expectations, as did the euro-zone Services and Composite PMI also released better than expected. Only eurozone Manufacturing PMI printed worse than expected. The euro is currently trading at $1.4408 Canadian.

Observers expect a range today of $1.4382 to $1.4454 Canadian

U.K. Manufacturing PMI in July released better than expected printing at 49.1 when forecasts were for 47.5. Composite and Services PMI showed a softer-than-expected print releasing at 47.7 and 47.4, respectively. The pound sterling weakened right back down to its support levels after breaking a July high of 1.7453 as easing expectations start to rise. The pound is currently trading at $1.7121 Canadian.

Trades expect a range today of $1.7023 to $1.729 Canadian

The Australian and New Zealand dollars are both trading lower today after yesterday’s short-lived recovery. On Thursday, the Aussie and the kiwi saw a bounce higher from broadly weaker U.S. dollar, but the recovery didn't last long as the greenback regained traction on the back of strong existing home sales and jobless claims data. Weak Asian equities also weighed on the commodity currencies. Expectations for further rate cuts by the Reserve Bank of Australia and the Reserve Bank of New Zealand will continue to put selling pressure on the two commodity currencies.

Oil (WTI): $44.68

Gold: $1,324.78

Silver: $19.65

Copper: $2.2426

Dollar Index: 97.08]]>
<![CDATA[This Week’s Biggest Stories: YHOO, VZ, AMZN, NTDOY]]>Fri, 22 Jul 2016 03:04:00 ESThttp://www.baystreet.ca/articles.aspx?id=34813]]><![CDATA[Top Analyst Actions: SWN, PHM, UNH, SINA, CFRX]]>Fri, 22 Jul 2016 02:44:11 ESThttp://www.baystreet.ca/articles.aspx?id=34812<![CDATA[Skechers USA (SKX) Falls Ahead of Q2 Results]]>Fri, 22 Jul 2016 01:37:41 ESThttp://www.baystreet.ca/articles.aspx?id=34811<![CDATA[Advanced Micro Device (AMD) Jumps on Q2 Loss]]>Fri, 22 Jul 2016 01:34:58 ESThttp://www.baystreet.ca/articles.aspx?id=34810<![CDATA[SunTrust Banks (STI) Dips Ahead of Earnings]]>Fri, 22 Jul 2016 01:11:02 ESThttp://www.baystreet.ca/articles.aspx?id=34809<![CDATA[Visa Inc (V) Gains on Q3 Earnings]]>Fri, 22 Jul 2016 01:08:45 ESThttp://www.baystreet.ca/articles.aspx?id=34808<![CDATA[Paypal Holdings (PYPL) Swoons on Q2 Earnings]]>Fri, 22 Jul 2016 12:53:10 ESThttp://www.baystreet.ca/articles.aspx?id=34807<![CDATA[Honeywell International (HON) Down as Earnings Loom ]]>Fri, 22 Jul 2016 12:48:21 ESThttp://www.baystreet.ca/articles.aspx?id=34806<![CDATA[AT&T Inc. (T) Gains on Q2 Figures]]>Fri, 22 Jul 2016 12:45:39 ESThttp://www.baystreet.ca/articles.aspx?id=34805<![CDATA[Whirlpool Corporation (WHR) Gains on Earnings Report]]>Fri, 22 Jul 2016 12:12:25 ESThttp://www.baystreet.ca/articles.aspx?id=34804