BAYSTREET RSS FEED http://www.baystreet.ca/rss/MasterRSS.aspx en-us Copyright (c) 2014 Baystreet.ca Inc. All rights reserved. 10/25/2014 7:10:00 AM <![CDATA[Arsenal Energy "BUY"]]>Fri, 24 Oct 2014 07:34:23 ESThttp://baystreet.ca/articles/analyst_ratings.aspx?19741<![CDATA[Oil futures lower after supply report ]]>Wed, 22 Oct 2014 12:00:00 ESThttp://baystreet.ca/articles/commodities.aspx?id=532Wednesday, October 22, 2014


Oil futures lower after supply report


U.S. crude-oil supplies rose by 7.1 million barrels in the week ended Oct. 17, according to information released this morning by the Energy Information Administration.

Analysts surveyed by Platts had expected an increase of 2.5 million barrels. Crude futures reversed course on the news, and the November contract was recently down 64 cents, or 0.8%, at $81.84 U.S. a barrel on the New York Mercantile Exchange.

The contract traded at $82.55 U.S. before the report. The EIA also said gasoline inventories decreased 1.3 million barrels on the same week, and supplies of distillates rose one million barrels.

The analysts polled by Platts had expected gasoline inventories to decline 1.7 million barrels, and distillates supplies to fall 1.5 million barrels.

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<![CDATA[Shaw income hikes 64% ]]>Thu, 23 Oct 2014 12:00:00 ESThttp://baystreet.ca/articles/techinsider.aspx?id=497Thursday, October 23, 2014

Shaw income hikes 64%


Shaw Communications Inc posted a 64% jump in fourth-quarter net income on a modest bump in revenue on Thursday, as the cable and media company credited better operating metrics and lower expenses.

Net income was $192 million,, or 40 cents a share, in the three months to Aug. 31, compared with $117 million, or 24 cents a share, a year earlier. Revenue was up 1% at $1.26 billion.

Shaw shares faded 11 cents to $27.59 Thursday mid-morning, within a 52-week trading range from $24.10 to $28.50.

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<![CDATA[Economic Calendar]]>Sat, 25 Oct 2014 07:10:00 ESThttp://baystreet.ca/articles/econ_calendar.aspx?id=18125October 2014
 

DATE

STATISTIC FOR CURRENT MONTH PREVIOUS MONTH
Friday, October 03, 2014 Canadian international merchandise trade: 8:30am Aug 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. Canada's merchandise exports increased 1.4% in July, while imports edged down 0.3%. As a result, Canada's trade surplus with the world widened from $1.8 billion in June to $2.6 billion in July.
Monday, October 06, 2014 IVEY purchasing managers index: 10:00am Sept 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. Western University’s IVEY Purchasing Managers’ Index stood at 50.9 by the end of August, down from July’s reading of 54.1, and the 51 reading in August of last year.
Tuesday, October 07, 2014 Building Permits: 8:30am Aug 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. Canadian municipalities issued building permits worth $9.2 billion dollars in July, up 11.8% from June and the fourth consecutive monthly advance.
Wednesday, October 08, 2014 Housing Starts: 8:15am Aug 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. Canada Mortgage and Housing Corp showed the seasonally adjusted annualized rate of housing starts slipped to 192,368 last month from a downwardly revised 199,813 units in July.
Thursday, October 09, 2014 New Housing Price Index: 8:30am Aug The New Housing Price Index rose 0.3% in August, following no change in July. The New Housing Price Index was unchanged in July, following a 0.2% increase in June.
Friday, October 10, 2014 Labour Force Survey: 7:00am Sept 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. Employment was little changed in August and the unemployment rate remained at 7.0%. Compared with 12 months earlier, employment increased by 81,000 (+0.5%), mostly in part-time work. Over the same period, the total number of hours worked was virtually unchanged.
Wednesday, October 15, 2014 CREAstats - MLS sales: 8:30am Sept 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. The average price of a Canadian home increased by more than 5% in the past year, according to the Canadian Real Estate Association, which adds the average home sold went for $398,618 in August.
Thursday, October 16, 2014 Canada's International Transactions in securities: 8:30am Aug 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 Canadian investors added $9.7 billion of foreign securities to their portfolios in July, the largest such investment since April 2007. Meanwhile, foreign investors acquired $5.3 billion of Canadian securities, mainly instruments from the corporate sector.
Thursday, October 16, 2014 Monthly Survey of Manufacturing: 8:30am Aug Canadian manufacturing sales fell 3.3% in August to $52.1 billion, the first decline in 2014. Canadian manufacturing sales increased 2.5% to $53.7 billion in July, largely as a result of higher sales in the transportation equipment and primary metal industries.
Friday, October 17, 2014 Consumer Price Index: 7:00am Sept 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. Consumer prices rose 2.1% in the 12 months to August, matching the increase in July. On a seasonally adjusted monthly basis, the Consumer Price Index increased 0.1% in August, after decreasing 0.1% in July.
Monday, October 20, 2014 Wholesale trade: 8:30am Aug Wholesale sales edged up 0.2% to $53.1 billion in August. Following three consecutive monthly gains, wholesale sales decreased 0.3% to $52.9 billion in July.
Wednesday, October 22, 2014 BoC Rate Announcement: 9:00am -- The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1%. The Bank Rate is correspondingly 1 1/4% and the deposit rate is 3/4%. The Bank of Canada maintains its target for the overnight rate at 1%.
Wednesday, October 22, 2014 Retail Trade: 8:30am Aug Retail sales declined 0.3% in August to $42.4 billion. This second consecutive monthly decrease follows gains in the six previous months. Following six consecutive monthly gains, retail sales paused in July, edging down 0.1% to $42.5 billion.
Thursday, October 23, 2014 Employment Insurance: 8:30am Aug 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%. The number of people receiving regular Employment Insurance benefits in July totaled 499,300, little changed from the previous month. Compared with 12 months earlier, the number of beneficiaries decreased 2.9% or 14,900.
Wednesday, October 29, 2014 Industrial Product Price Index: 8:30am Sept --- The Industrial Product Price Index increased 0.2% in August, mainly because of higher prices for motorized and recreational vehicles.
Wednesday, October 29, 2014 Raw Materials Price Index: 8:30am Sept --- The Raw Materials Price Index declined 2.2%, largely as a result of lower prices for crude energy products.
Friday, October 31, 2014 GDP: 8:30am Aug --- Real gross domestic product was essentially unchanged in July, following six consecutive monthly gains.
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<![CDATA[Ottawa near deal to become yuan trading hub]]>Fri, 24 Oct 2014 12:00:00 ESThttp://baystreet.ca/articles/economiccommentary.aspx?id=1238Ottawa near deal to become yuan trading hub


The Canadian business establishment expects Ottawa to soon consummate a deal with Beijing that would foster far easier trade between our dollar and China’s currency.

Official talks toward creation of a Canadian settlement hub for the yuan have been ongoing for months, and have involved multiple meetings between the department of finance and the People’s Bank of China, experts said. The basic structure of a deal, which would likely include initial establishment of a $30-billion swap line, appears to have been worked out, he said.

It’s not clear whether a deal has been formally concluded, and political issues may yet block its completion. But a Bay Street source said Sino-Canadian talks on the matter are going well and there has been no word of anything that would stop a deal being reached.

China has invited Prime Minister Stephen Harper to a bilateral meeting with its top leadership in the days before an Asia-Pacific Economic Co-operation summit scheduled for Nov. 10-11. Harper has confirmed his attendance at the summit, but not yet at the bilateral meeting, amid continuing uncertainty over the fate of two Canadians still detained on suspicion of stealing Chinese military and defence research secrets.

If Harper declines the invitation, it would be considered a snub and damage relations with China, observers have warned. That could in turn affect what is largely a political decision on whether China will allow Canadian banks new abilities to trade its currency.

Despite the uncertainty over the Harper visit, advance teams from Ottawa have flown to Beijing to begin planning a Harper visit, and Canadian diplomats say a ceremonial signing on a yuan hub would be a key "deliverable" for the prime minister to announce – if a deal can be reached.

The announcement could be as simple as an agreement in principle to move forward on the hub, or something more substantial with more of the details worked out.

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<![CDATA[Japan gains on day, week ]]>Fri, 24 Oct 2014 12:00:00 ESThttp://baystreet.ca/articles/foreignmarketwrap.aspx?id=1983Friday, October 24, 2014

Japan gains on day, week


Japanese stocks snapped a four-week losing streak as the dollar regained some strength against the yen and recent global volatility eased.

In Tokyo, the Nikkei 225 moved ahead 152.68 points, or 1%, to 15,291.64, with the U.S. dollar heading back through the ¥108 level overnight for the first time in two weeks. Japanese exporters gain from a weaker yen as it boosts income from overseas markets. The dollar was changing hands at ¥107.92.

The Nikkei gained more than 5% during the week, leading a rebound in Asian markets.

In Hong Kong, the Hang Seng index dipped 30.98 points, or 0.1%, to 23,302.20, and up 1.2% for the week, as pro-democracy protests appeared calm even as student leaders and the government failed to make a breakthrough in talks Tuesday.

Shares of China Unicom (Hong Kong) were up 1.3% after the company said its January-September net profit rose 26% from a year earlier, helped by cost cuts. China Unicom has benefited from the Chinese government’s push to promote competition in the carrier industry, including having to pay reduced interconnection fees to China Mobile’s network starting this year.

News that a doctor who had been treating Ebola patients in West Africa was diagnosed with the disease in New York on Thursday triggered buying in some Japan shares.

Fujifilm Holdings Corp. whose subsidiary makes the Avigan influenza drug that is in demand for treating Ebola, rose 2.5%. Nippon Avionics Co. Ltd. which makes infrared thermography products that airports use to screen passengers’ temperatures, surged 20% on speculation of wider adoption in case of a greater global spread of the virus.

CHINA

Shanghai’s CSI 300 index faded 5.23 points, or 0.2%, to 2,390.71.

A report on Friday also showed prices of new homes in China declined for the first time in nearly two years in September. The average price of new homes in 70 Chinese cities fell 1.1% from a year earlier, after rising 0.5% in August.

In other markets;

Singapore’s Straits Times Index settled 13.95 points, or 0.4%, to 3,222.55

The Taiex index in Taiwan plummeted 85.06 points, or 1%, to 8,646.01

Korea’s Kospi index moved down 5.96 points, or 0.3%, to 1,925.69

In New Zealand, the NZX 50 picked up 41 points, or 0.8%, to 5,333.83

Australia’s S&P/ASX 200 gained 29.11 points, or 0.5%, to 5,412.25


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<![CDATA[Specter of no-inflation world looms ]]>Fri, 24 Oct 2014 12:00:00 ESThttp://baystreet.ca/articles/globalmarkets.aspx?id=1239After months of focus on slack in U.S. labour markets, the Federal Reserve faces a new challenge: the possibility that weak inflation may be so firmly entrenched it upends the return to normal monetary policy.

The soft global inflation backdrop, from sliding oil prices to stagnant wages in advanced economies, has triggered debate over whether the Fed and its peers merely need to wait for a slow-motion business cycle to improve, or face a shift in the underlying nature of inflation after the global recession.

That uncertainty has become the Fed's chief concern in recent weeks, likely to shape upcoming policy statements and delay even further the moment when interest rates, pinned near zero for nearly six years, will start rising again.

Investors have already pushed expectations for an initial rate hike back several months to late next year because of a dimmed global outlook. The Fed is expected to take note of recent market turmoil and worsened world conditions at its Oct 28-29 meeting even as it ends the bond-buying program launched to fight the financial crisis.

Yet if the Fed keeps struggling getting inflation back to its 2% goal it could prompt a deeper rethinking of its approach. That could involve an even more open-ended commitment to low interest rates, the renewal of asset buying to pump cash into the financial system, or more aggressive language to encourage households and businesses to invest and spend.

Inflation was already acting out of character during the 2007-2009 recession when it fell less than expected. Now, its glacial movement during the recovery suggests something basic may have changed, San Francisco Fed President John Williams told the media last week.

Williams said he still expected that eventually "Economy 101" forces of supply and demand would regain traction, and push up wages and prices around the world.

What if they don't?

That would put the Fed in a bind - with rates at zero, and absent a renewal of the sort of unconventional programs it has been trying to wind down, no tools at hand.

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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]]><![CDATA[Big week, big finish]]>Fri, 24 Oct 2014 12:00:00 ESThttp://baystreet.ca/articles/marketupdates.aspx?id=3696Friday, October 24, 2014

04:28 PM EST
Big week, big finish

Agrium deal in spotlight


WEEKLY MARKET WRAP UP



Canada's main stock index finished strongly on Friday as shares of Agrium Inc jumped after an activist investor revealed it has a stake in the company, offsetting a drop in oil prices that pulled energy producers lower.

The S&P/TSX composite index moved into the green 56.99 points to end Friday and the week at 14,543.82

The Canadian dollar lost 0.02 cents at 89.02 cents U.S.

The market is on track to record one of its strongest weeks of the year. It is up about 6% since reaching an eight-month low last week.

There were gains to be had in the consumer staples section, most notably Maple Leaf Foods, which skyrocketed or 4.8%, to $19.43, and grocer Metro Inc., which leaped 2.7% to $77.33.

Agrium gained 7.6% to $104.33, after hedge fund ValueAct Capital disclosed it had bought a 5.7% stake in the fertilizer maker.

Shares of energy producers shed strength, with oil prices dropping in choppy trade. Suncor Energy gave back 0.3% to $38.42, and Canadian Natural Resources fell 1.5% to $38.94.

Financials moved up. Bank of Nova Scotia advanced 0.5% to $67.99, and Bank of Montreal climbed 0.3% to $81.51.

ON BAYSTREET

The TSX Venture Exchange dropped 3.15 points to 805.45.

All but three of the 14 Toronto subgroups were higher to end the day and the week. Consumer staples galloped 2.5%, utilities took on 1.3%, and materials were better by 1.2%.

The three laggards were energy, down 1.2%, metals and mining, slipping 0.7%, and global base metals, off 0.06%.

ON WALLSTREET

U.S. stocks shook off a rocky start to extend modest gains on Friday. Stocks are on track for a strong overall week, as investors digest positive economic data and a series of upbeat quarterly results.

The Dow Jones Industrials jumped 127.51 points to 16,805.41, a spike of 2.5% on the week.

The S&P 500 hiked 13.76 points to 1,964.58. The benchmark is on track for a weekly gain of 3.9%, having bounced back after slumping to a six-month intraday low in last week’s volatile action. That would represent its largest one-week advance in 2014.

The NASDAQ index gained 30.93 points to 4,483.72. The tech-heavy index enjoyed a 5% advance for the week.

Procter & Gamble shares climbed 3% for the best performance among Dow components. The consumer-goods heavyweight said it plans to get out of its Duracell battery business and posted adjusted quarterly earnings that matched expectations.

Microsoft Corp. another Dow gainer, picked up 1.7% after the tech titan posted quarterly profit and revenue that topped forecasts.

Meanwhile, shipping giant United Parcel Service Inc. gained more than 1% after its quarterly results surpassed estimates, but Amazon.com Inc. dropped nearly 8% after the online retailer reported a wider-than-expected third-quarter loss late Thursday. Amazon was the S&P 500’s worst performer.

Economically speaking, the U.S. Commerce Department said sales of new homes in September rose slightly an annual rate of 467,000, hitting a six-year high. Economists expected sales of 455,000.

Around the corner is next week’s Federal Reserve policy meeting. The Fed is expected to end its third-round of bond buying, which had been aimed at helping the U.S. economy emerge from the 2008 financial crisis.

Prices for 10-year U.S. Treasuries gained ground, lowering yields to 2.27% from Thursday’s 2.28%. Treasury prices and yields move in opposite directions.

Oil prices dipped 86 cents to $81.24 U.S. a barrel.

Gold prices hiked $1.70 to $1,230.80 U.S. an ounce.





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<![CDATA[Stocks in Play: Critical Outcome Technologies Inc.]]>Fri, 24 Oct 2014 09:51:30 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=16707Friday, October 24, 2014

09:51 AM EST - Critical Outcome Technologies Inc. : announced today that it awarded 1,801,099 stock options to directors, officers, and employees under the Company's Stock Option Plan on October 22. Critical Outcome Technologies Inc. (V.COT) shares were up $0.005 at 0.29.

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<![CDATA[Stocks in Play: DEQ Systems Corp.]]>Fri, 24 Oct 2014 09:51:30 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=16708Friday, October 24, 2014

09:52 AM EST - DEQ Systems Corp. : announced that it has reached an agreement with LT Game International (Australia) Ltd. for the distribution of DEQ's technology solutions throughout Asia Pacific region. Under the Agreement, LT Game will distribute the Company's G3 System and table top technology solutions through the end of 2016 as the initial term. DEQ Systems Corp. (V.DEQ) shares were unchanged at 0.22.

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<![CDATA[Stocks in Play: Ritchie Bros. Auctioneers]]>Fri, 24 Oct 2014 09:51:30 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=16709Friday, October 24, 2014

09:53 AM EST - Ritchie Bros. Auctioneers : announced its premier global auction will be held in Orlando, Florida on February 16 – 20, 2015. Ritchie Bros. Auctioneers (T.RBA) shares were down $0.07 at 26.3.

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<![CDATA[Stocks in Play: Almonty Industries Inc.]]>Fri, 24 Oct 2014 09:51:30 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=16710Friday, October 24, 2014

09:54 AM EST - Almonty Industries Inc. : announced the filing of a National Instrument 43-101 technical report for the Valtreixal tin-tungsten project located in north western Spain. Almonty has an option to acquire a 100% ownership interest in the Valtreixal tin-tungsten project. Almonty Industries Inc. (V.AII) shares were unchanged at 0.67.

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<![CDATA[Stocks in Play: EMC Metals Corp.]]>Fri, 24 Oct 2014 09:51:30 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=16711Friday, October 24, 2014

11:48 AM EST - EMC Metals Corp. : has filed on SEDAR a technical report regarding the Preliminary Economic Assessment on the Company’s 100% owned Nyngan Scandium Project, located in New South Wales Australia. EMC previously announced the results of the PEA by news release dated October 14. The technical report, entitled NI 43-101F1 Technical Report on the Feasibility of the Nyngan Scandium Project, prepared by the engineering firm of Larpro Pty Ltd, of Brisbane, Australia, and supported by Mining One of Melbourne, Australia and Rangott Mineral Exploration Pty Ltd of Orange, Australia, confirms the technical and economic potential of the Nyngan Scandium Project. EMC Metals Corp. (T.EMC) shares were unchanged at 0.1.

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<![CDATA[Stocks in Play: VVC Exploration Corporation]]>Fri, 24 Oct 2014 09:51:30 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=16712Friday, October 24, 2014

11:49 AM EST - VVC Exploration Corporation : has that it has successfully completed a previously announced non-brokered private placement aggregating $411,365 and representing 8,227,300 units of the Company at a price of $0.05 per Unit. Each Unit consists of one common share and one common share purchase warrant of the Company. VVC Exploration Corporation (V.VVC) shares were unchanged at 0.03.

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<![CDATA[Stocks in Play: GoldON Resources Ltd.]]>Fri, 24 Oct 2014 09:51:30 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=16713Friday, October 24, 2014

11:50 AM EST - GoldON Resources Ltd. : has completed its previously-announced shares-for-debt settlement with four creditors. The Company has issued 1,257,600 common shares at a deemed price of $0.05 per share in settlement of $62,880.00 of debt. The issued shares are subject to a four-month hold period expiring February 24, 2015. GoldON Resources Ltd. (V.GLD) shares were unchanged at 0.04.

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<![CDATA[Stocks in Play: Pembina Pipeline Corporation]]>Fri, 24 Oct 2014 09:51:30 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=16714Friday, October 24, 2014

03:50 PM EST - Pembina Pipeline Corporation : announced that the Company has completed its previously announced acquisition of the Vantage pipeline system and Mistral Midstream Inc.'s interest in the Saskatchewan Ethane Extraction Plant from certain entities affiliated with Riverstone Holdings LLC. Pembina Pipeline Corporation (T.PPL ) shares were up $0.63 at 47.24.

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<![CDATA[Stocks in Play: Levon Resources Ltd.]]>Fri, 24 Oct 2014 09:51:30 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=16715Friday, October 24, 2014

03:52 PM EST - Levon Resources Ltd. : announced it is undertaking a $1-million U.S. private placement. A total of 4,400,000 common shares of Levon will be issued in the Placement at a price of $0.25 Canadian per share. To Levon's knowledge, no new insiders of Levon will be created as a result of the Placement. Completion of the Placement is subject to the approval of the Toronto Stock Exchange. Levon Resources Ltd. (T.LVN) shares were up $0.02 at 0.28.

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<![CDATA[Sangoma Technologies Swings to a Profit in Q4 and Fiscal 2014]]>Fri, 24 Oct 2014 03:54:08 ESThttp://baystreet.ca/articles/stockstowatch.aspx?id=804Friday, October 24, 2014

Sangoma Technologies Swings to a Profit in Q4 and Fiscal 2014


Stocks are in rally mode this week, gaining strength from upbeat earnings reports and economic data after being pummeled in weeks prior. Small caps have found some strength in the last week-and-a-half as well, as measured by the Russell 2000 Small Cap Index rising from a low of 1,040 last Wednesday to as high as 1,122 on Thursday. A sore spot remains the Toronto Venture exchange, which simply isn’t tracking the gains being recorded by its bigger peers this week.

While Wall and Bay Street players aren’t looking to the Venture, little Sangoma Technologies Corp. (TSX-Venture:STC) posted an upbeat earnings report of its own Thursday evening for the fourth quarter and full fiscal year 2014. The Markham, Ontario-based company provides hardware and software components (data boards, voice boards, gateways, etc.) that enable or enhance IP Communications Systems for both telecom and datacom applications.

Sales were essentially flat in the fourth quarter ended June 30, 2014, registering $3.98 million, versus $4.0 million in the year prior quarter. Gross profit improved by 8%, though, from $2.46 million to $2.65 million. Operating income climbed about 50% from $410,000 a year earlier to $610,000, a rise the company attributed to higher revenue and margin more than offsetting a small rise in expenses. The big swing was in the bottom line. After reporting a net loss of $3.95 million, or 13.6 cents per share, in Q4 fiscal 2013, Sangoma turned around to a net profit of $520,000, or 1.8 cents per share, last quarter.

Looking at the complete fiscal year, revenue increased 7% to $13.83 million from $12.95 million in fiscal 2013. Gross profit was up 9% to $9.25 million from $8.48 million.

Operating income improved to $940,000 from only $60,000 a year prior. Importantly, Sangoma swung from an annual net loss of $4.33 million, or 14.8 cents per share, in fiscal 2013 to a net profit of $740,000, or 2.6 cents per share, in the latest fiscal year.

As of June 30, the company had $4.98 million in cash, about $1 million more than it had a year earlier.

"This year we focused on delivering reasonable growth while generating healthy profitability, and our results confirm this, with operating income, cash flow and EBITDA of around $1 million," said Bill Wignall, President and CEO of Sangoma, in a statement. "I'm generally pleased that the uptake of new products continues, with nearly half our revenue now coming from products introduced in recent years, and I would like to see that rate accelerate even further,” he added.

In a preliminary announcement on the earnings late in July, the Sangoma chief executive said he was “slightly disappointed” that fourth quarter sales weren’t as strong as he expected.

He also warned that Q1 sales for fiscal 2015 will likely be short of fourth quarter revenue, a seasonal pattern that is not out of the ordinary. Wingall will speak more on the results at a conference call on Monday at 3:00 PM ET.

Shares of STC were up about 37% in 2014 through Thursday’s closing price of 28 cents, although well off a high of 41.5 cents in April. Trading at a price-to-earnings ratio in the area of 11:1, the thinly-traded, quiet company (basically only earnings releases for news all year) looks to be trending under the radar of the investment community. Shares have risen 5.5% in early Friday trading to 29 cents each, albeit on volume of only 6,100.

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<![CDATA[Poloz testimony postponed]]>Fri, 24 Oct 2014 09:44:01 ESThttp://baystreet.ca/articles/forex_trader.aspx?id=19747
Overall focus for the week will no doubt be Wednesday’s U.S. Federal Open Market Committee meeting and if there will be a new message considering the massive change in markets and sentiment since September’s meeting. Some are betting that the final tapering of Quantitative Easing may be pushed off, yet experts are not holding their breaths on that scenario unfolding. The FOMC wishes to stick with the slow and steady message and knee-jerk reactions will not help the market to trust it on this message at this point.

Experts expect a range today of 1.1180 to 1.1265 Canadian

The euro had a quiet session overnight, trading in a narrow range of 30 points against the U.S. dollar. The pair has been rangebound trading between the October low of 1.2501 U.S. and the high of 1.2886 U.S. This weekend will see the release of the bank stress test. Outlook for the euro continues to be bearish as both fundamentals and flows are both negative for the euro. Next Friday’s Consumer Price Index estimate will be an important near-term driver for the continental currency to look out for. The euro opened at 1.4193 Canadian this morning.

Observers expect a range today of 1.4141 to 1.4250 Canadian

The pound is essentially unchanged from yesterday’s close. Both YoY and QoQ Gross Domestic Product data were in line printing at 0.7% and 3.0% respectively. Inflation has drifted lower to 1.2% on headline and 1.5% on core, which has pushed interest rate hikes further out into 2015. Next week’s highlight will be Confederation of British Industries Reported Sales, Mortgage Approvals and Consumer Confidence Survey. The pound is currently trading at 1.7979 Canadian.

The Australian dollar is strong, up 50 basis points from yesterday’s close. No overnight news released, but the positive data from China has supported the Aussie overnight. Next week will bring September’s New Home Sales and Product Price Index being released on Wednesday and Thursday evening respectively. The Aussie dropped to 0.9790 Canadian this morning before rallying back to 0.9869 Canadian where it is current trading.

The New Zealand dollar is strong, up 50 bps, from yesterday’s close. Trade Balance released worse than expected where September’s Trade Balance printed at -1,350 million vs. the expected -625 million. Next week’s highlight will be New Zealand’s Rate decision on Wednesday evening. ANZ Business Confidence report will be released on Tuesday’s evening as well. The kiwi is currently trading 0.8805 Canadian.

Data Releases

CAD: No data

AUD: No data

EUR: German Consumer Confidence Survey

GBP: GDP

JPY: No data

NZD: No data

USD: New Home Sales]]>
<![CDATA[Top Analysts Action: CWEI, NBR, SWFT, BDN, ONB]]>Fri, 24 Oct 2014 12:56:19 ESThttp://www.baystreet.ca/articles.aspx?id=28180]]><![CDATA[Moody’s (MCO) gains on revenues, profits]]>Fri, 24 Oct 2014 10:52:20 ESThttp://www.baystreet.ca/articles.aspx?id=28179<![CDATA[Procter & Gamble (PG) hikes as results meet targets]]>Fri, 24 Oct 2014 10:50:45 ESThttp://www.baystreet.ca/articles.aspx?id=28178<![CDATA[Pfizer (PFE) gains on buyback]]>Fri, 24 Oct 2014 10:48:33 ESThttp://www.baystreet.ca/articles.aspx?id=28177<![CDATA[Ford (F) skids with profits]]>Fri, 24 Oct 2014 10:42:39 ESThttp://www.baystreet.ca/articles.aspx?id=28176<![CDATA[Bristol-Myers Squibb (BMY) gains though profit falls]]>Fri, 24 Oct 2014 10:41:34 ESThttp://www.baystreet.ca/articles.aspx?id=28175<![CDATA[UPS (UPS) gains on profit, revenue]]>Fri, 24 Oct 2014 10:39:44 ESThttp://www.baystreet.ca/articles.aspx?id=28174<![CDATA[Vitae Pharmaceuticals (VTAE) jumps on Alzheimer research]]>Fri, 24 Oct 2014 10:38:09 ESThttp://www.baystreet.ca/articles.aspx?id=28173<![CDATA[Juniper Networks (JNPR) falls on Q3 results]]>Fri, 24 Oct 2014 10:36:35 ESThttp://www.baystreet.ca/articles.aspx?id=28172<![CDATA[Microsoft (MSFT) gains as earnings beat Street]]>Fri, 24 Oct 2014 10:35:19 ESThttp://www.baystreet.ca/articles.aspx?id=28171