Baystreet.ca RSS Feed http://www.baystreet.ca/rss/MasterRSS.aspx en-us Copyright (c) 2021 Baystreet.ca Inc. All rights reserved. 9/22/2021 8:39:42 PM <![CDATA[Surge Copper "OUTPERFORM"]]>Wed, 22 Sep 2021 11:59:00 ESThttps://www.baystreet.ca/articles/analyst_ratings.aspx?70492<![CDATA[Oil Prices Climb on Expected Draw]]>Wed, 22 Sep 2021 11:55:00 ESThttps://www.baystreet.ca/articles/commodities.aspx?id=4986Wednesday, September 22, 2021


Oil Prices Climb on Expected Draw


Oil prices climbed more than $1 on Wednesday, extending overnight gains after industry data showed U.S. crude stocks fell more than expected last week in the wake of two hurricanes, highlighting tight supply as demand improves.

Prices were also supported as some members of the Organization of the Petroleum Exporting Countries (OPEC) struggle to raise output and by a general sense of energy market shortages amid a power and gas crisis in Europe.

U.S. West Texas Intermediate (WTI) crude futures rose $1.04, or 1.49%, to $71.54 a barrel, adding to a 35-cent gain from Tuesday.

Brent crude futures climbed $1.08, or 1.5%, to $75.44 U.S. a barrel, after gaining 44 cents on Tuesday.

The oil market’s focus turned to concerns of tight supply, after Monday’s pressure from broad market jitters over the possible default of Chinese property developer China Evergrande Group.

Moreover, U.S. crude stocks fell by 6.1 million barrels for the week ended Sept. 17, market sources said, citing Tuesday’s figures from the American Petroleum Institute.

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<![CDATA[Tech Shares Rip On AI Performance Test Results]]>Wed, 22 Sep 2021 03:31:00 ESThttps://www.baystreet.ca/articles/techinsider.aspx?id=3168Wednesday, September 22, 2021

Tech Shares Rip On AI Performance Test Results


A Vancouver-based tech firm saw its shares skyrocket in the second half of today’s trading session after the company announced that its ALIIS™ technology significantly improved downstream AI performance during an extensive benchmarking process that utilized a leading vehicle recognition API, according to the release. Shares of NexOptic Technology Corp. (TSX:NXO) (OTCQB:NXOPF) rallied on the news.

NexOptic Technology Corp. aims to influence the multi-billion-dollar optics industry through AI Machine Learning Imaging Software and Optical Products. NexOptic's AI Imaging Software, ALIIS, "All Light Intelligent Imaging Solutions," is advanced algorithms that enable any camera to push past its limits in all lighting environments. Custom to any image sensor, ALIIS enables superior "all light performance" by learning and embedding the optimal light profile on any camera.

The sentiment quickly switched to bullish after the announcement as shares traded up to a session high of $0.81/share (+19.12%). This move is a strong continuation of the success this stock has had since mid-April, coming off its 52-week low of just $0.18.

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<![CDATA[Economic Calendar]]>Wed, 22 Sep 2021 08:39:42 ESThttps://www.baystreet.ca/articles/econ_calendar.aspx?id=18125September 2021
 

DATE

STATISTIC FOR CURRENT MONTH PREVIOUS MONTH
Wednesday, September 1, 2021 Markit Canada Manufacturing PMI: 9:30 am Aug The index registered 57.2 in August, up from 56.2 in July. The latest reading extended the period of growth to 14 successive months, with the latest expansion the fourth quickest in the near 11-year history of the survey. The index registered 56.2 in July, down fractionally from 56.5 in June, to signal a 13th consecutive expansion in operating conditions.
Thursday, September 2, 2021 Building Permits: 8:30am July The total value of building permits in Canada decreased 3.9% to $9.9 billion in July. The total value of building permits rose 6.9% to $10.3 billion in June.
Thursday, September 2, 2021 Canadian International Merchandise Trade: 8:30am July In July, Canada's merchandise imports rose 4.2% and exports increased 0.6%. As a result, Canada's merchandise trade surplus narrowed from $2.6 billion in June to $778 million in July. In June, a sharp increase in exports resulted in Canada's merchandise trade balance returning to a surplus position, reaching $3.2 billion. This follows a $1.6 billion deficit in May. Exports of goods rose 8.7% in June, while imports decreased 1.0%.
Wednesday, September 8, 2021 IVEY Purchasing Managers Index: 10:00am Aug The index leaped to 66, towering over July’s 56.4, but down from the 67.8 reading in August 2020. The index registered at 56.4 in July, down considerable from June's 71.9, and far off the 68.5 reading in July 2020.
Wednesday, September 8, 2021 BoC Interest Rate Decision: 10:00am Sept The Bank of Canada today held its target for the overnight rate at the effective lower bound of 0.25%, with the Bank Rate at 0.5% and the deposit rate at 0.25% The Bank of Canada is cutting its expectations for economic growth this year as it keeps its key interest rate target on hold at 0.25%.
Friday, September 10, 2021 Labour Force Survey: 8:30am Aug Employment rose by 90,000 (+0.5%) in August, the third consecutive monthly increase. The unemployment rate fell 0.4 percentage points to 7.1%. Employment rose by 94,000 (+0.5%) in July, adding to an increase of 231,000 (+1.2%) in June.
Tuesday, September 14, 2021 Monthly Survey of Manufacturing: 8:30am July Manufacturing sales declined 1.5% in July. Decreases in the wood product and in the aerospace product and parts industries were primarily responsible for the overall drop. Manufacturing sales rose 2.1% in June, mostly attributable to improved production at auto assembly plants and higher sales of petroleum and coal products.
Wednesday, September 15, 2021 Consumer Price Index: 8:30am Aug CPI rose 4.1% on a year-over-year basis in August, up from a 3.7% gain in July. On a seasonally adjusted monthly basis, the CPI rose 0.4% in August. The Consumer Price Index (CPI) rose 3.7% on a year-over-year basis in July, up from a 3.1% gain in June. On a seasonally adjusted monthly basis, the CPI rose 0.5% in July.
Wednesday, September 15, 2021 CREAstats - MLS Sales: 8:30am Aug National home sales edged back 0.5% on a month-over-month basis in August. Canada's MLS Home Price Index for sales of existing homes was up 0.6% from month-to-month; 22.2% year-to-year.
Thursday, September 16, 2021 Housing Starts: 8:15am Aug The trend in housing starts was 283,971 units in August 2021, down from 286,076 units in July 2021, according to Canada Mortgage and Housing Corporation Canada Mortgage and Housing Corporation reported the trend in housing starts was 286,620 units in July, down from 293,085 units in June
Thursday, September 16, 2021 Canada's International Transactions in Securities: 8:30am July Foreign investors acquired $14.2 billion of Canadian securities in July, led by purchases of government debt securities. At the same time, Canadian investors reduced their holdings of foreign securities by $4.7 billion. Canadian investors acquired a record $28.1 billion in foreign securities in June, largely purchases of U.S. shares. Meanwhile, non-residents added $19.6 billion in Canadian securities to their holdings, mainly in the form of money market instruments.
Thursday, September 16, 2021 Wholesale Trade: 8:30am July Wholesale trade fell for the second consecutive month, down 2.1% in July. This decline was due to a 12.4% decrease in sales of building materials and supplies. Wholesale sales fell 0.8% in June, reflecting sharp declines in the building material and supplies, and machinery, equipment and supplies subsectors. Sales of wholesale goods in the second quarter of 2021 were 2.6% higher than in the first quarter.
Tuesday, September 21, 2021 New Housing Price Index: 8:30am Aug Nationally, prices for new homes rose 0.7% in August, continuing the upward trend that began in May 2020. New home prices in Canada (composite of 27 census metropolitan areas) grew at their slowest pace since December 2020.
Thursday, September 23, 2021 Retail Trade: 8:30am July --- Retail sales were up 4.2% to $56.2 billion in June.
Tuesday, September 28, 2021 Payroll Employment, Earnings and Hours: 8:30am July --- There were 214,800 (+1.3%) more employees receiving pay or benefits from their employer in June, the strongest monthly growth since March.
Wednesday, September 29, 2021 Industrial Product Price Index: 8:30am Aug --- The index fell 0.4% month over month in July, and was up 15.4% year over year.
Wednesday, September 29, 2021 Raw Materials Price Index: 8:30am Aug --- The index was up 2.2% on a monthly basis in July and 37.7% year over year.
Friday, October 1, 2021 GDP: 8:30am July --- Real gross domestic product rose 0.7% in June, offsetting some of the declines in April and May, as 15 of 20 industrial sectors were up.
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<![CDATA[What Another Minority Means for Your Money ]]>Wed, 22 Sep 2021 10:39:00 ESThttps://www.baystreet.ca/articles/economiccommentary.aspx?id=3353What Another Minority Means for Your Money


This week, Canadians handed Justin Trudeau’s Liberal Party another minority mandate in a House of Commons that looked almost identical to the one that was dissolved last month and will leave the prime minister with the option of leaning on the Bloc or NDP to push through his agenda items. There will be plenty of questions in the coming days about whether the $610-million tab for the election was worth it, not to mention the resolve of Canadians who faced hours in line at some polling stations.

As for Canada’s place on the world stage, bear in mind that the Organization for Economic Cooperation and Development Tuesday shaved almost a full percentage point off this country’s Gross Domestic Product outlook for this year.

In terms of market reaction, the most immediate takeaway appears to be relief, as the Canadian dollar climbed in overnight trading.

The Liberals campaigned on dozens of measures that are designed to improve housing affordability in this country, including new and enhanced supports for buyers; a crackdown on blind bidding, flipping and foreign buyers; and tighter rules for real estate investment trusts.

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<![CDATA[China Markets Pounded Amid Evergrande Crisis ]]>Wed, 22 Sep 2021 07:09:00 ESThttps://www.baystreet.ca/articles/foreignmarketwrap.aspx?id=3759Wednesday, September 22, 2021

China Markets Pounded Amid Evergrande Crisis


Markets in mainland China fell more than 1% on Wednesday’s open before closing mixed amid the ongoing Evergrande crisis, as markets reopened for trade after a two-day holiday.

In Tokyo, the Nikkei 225 dumped 200.31 points, or 0.7%, to 29,639.40,

The Bank of Japan on Wednesday held steady on monetary policy, keeping its short-term interest rate target at -0.1% while that for 10-year Japanese government bond yields was kept at around 0%.

The Japanese central bank warned in its monetary policy statement that the employment and income situation "remained weak" due to the COVID impact, while private consumption has "remained stagnant" due to sustained strong downward pressure on services consumption.

The Japanese yen traded at 109.51 per U.S. dollar, having strengthened from around 110 against the greenback earlier this week.

The Australian dollar changed hands at $0.7254, against an earlier low of $0.7221.

CHINA

In Shanghai, the CSI 300 docked 34.17 points or 0.7%, to 4,821.77

The People’s Bank of China on Wednesday injected substantially more liquidity into the markets through "reverse repurchase agreements," or buying short-term bonds from some commercial lenders so banks have more cash on hand, data from the central bank showed.

China on Wednesday also kept its benchmark lending rate unchanged, with the one-year loan prime rate (LPR) held steady at 3.85%. The five-year LPR remained at 4.65%. That was largely in line with expectations of traders and analysts in a snap poll who predicted no change to both the one-year and five-year LPR, according to Reuters.

In other markets

Markets in Hong Kong and Korea were shuttered for holiday.

In Singapore, the Straits Times slid 15.15 points, or 0.5%, to 3,048.05

In Taiwan, the Taiex index capsized 350.97, or 2%, to 16,925.82.

In New Zealand, the NZX 50 recovered 38.86 points, or 0.3%, to 13,215.80

In Australia, the ASX 200 surged 23.12 points, or 0.3%, at 7,296.94.


















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<![CDATA[U.S. Federal Reserve Expected To Signal Plans To Taper Bond Purchases ]]>Wed, 22 Sep 2021 08:36:00 ESThttps://www.baystreet.ca/articles/globalmarkets.aspx?id=3002The U.S. Federal Reserve is expected to clear the way for reductions to its monthly bond purchases later this year in its latest policy statement to be issued today (September 22).

Central bank policymakers, who are wrapping up their latest two-day meeting, have been handed a conflicting set of developments since late July - signs of a slowdown in the service sector, a COVID-19 resurgence that has eclipsed that of last summer, and weak job growth in August, all alongside still strong inflation.

Fed officials have said the economic recovery will continue and allow the U.S. central bank to proceed with plans to reduce its $120 billion U.S. in monthly purchases of U.S. Treasuries and mortgage-backed securities by the end of 2021, and wind them down fully over the first half of next year.

But outside analysts expect the American central bank to hedge on exactly when the "taper" might begin, and tie it to a rebound in job growth following the disconcertingly tepid report in August, when only 235,000 jobs were created.

The Fed is due to release its latest policy statement and economic projections at 2 p.m. Eastern time with Federal Reserve Chair Jerome Powell holding a news conference half an hour later to discuss the outcome.

The U.S. job market remains about 5.3 million positions short of where it was before the pandemic. Financial markets have been roiled in the last week by concerns about spillover effects from the potential collapse of a large Chinese property developer, China Evergrande Group, and the S&P 500 index started the week with its largest daily loss in four months.

More then 60% of economists polled by Reuters News Agency said they expect the tapering of the bond purchases to begin this December.

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<![CDATA[TSXV New Listings]]>Wed, 06 Jan 2021 06:48:00 ESThttps://www.baystreet.ca/articles/ipo_tsx.aspx?id=10023 Company Name Ticker Date Skylight Health Group Inc. SHG 06-01-2021 HAW Capital 2 Corp. HAW.P 08-01-2021 Summa Silver Corp. SSVR 11-01-2021 Compass Venture Inc. CVI.P 21-01-2021 Railtown Capital Corp RLT.P 28-01-2021 Topicus.com Inc. TOI 01-02-2021 Leviathan Gold Ltd. LVX 10-02-2021 Aumento Capital VIII Corp. AMU.P 17-02-2021 Jesmond Capital Ltd. JES.P 18-02-2021 Jesmond Capital Ltd. JES.P 19-02-2021 Star Royalties Ltd. STRR 19-02-2021 Gravitas One Capital Corp. GONE.P 22-02-2021 County Capital 2 Ltd. CTWO.P 23-02-2021 Four Arrows Capital Corp. AROW.P 25-02-2021 Zacatecas Silver Corp. ZAC 02-03-2021 Avalon Works Corp. AWB 03-03-2021 SPC Nickel Corp. SPC 08-03-2021 Mednow Inc. MNOW 08-03-2021 AF2 Capital Corp. AF.P 15-03-2021 The Very Good Food Company Inc. VERY 17-03-2021 Mayfair Gold Corp. MFG 22-03-2021 Starlight U.S. Multi-Family (No.2) Core Plus Fund SCPT.A 31-03-2021 Apolo IV Acquisition Corp. AIV.P 01-04-2021 Great Bear Royalties Corp. GBRR 05-04-2021 POCML 6 Inc. POCC.P 06-04-2021 Cannara Biotech Inc. LOVE 08-04-2021 Anacott Acquisition Corporation AAC.P 13-04-2021 Rider 2 Investment Capital Corp. RIDR.P 14-04-2021 New Target Mining Corp. NEW 15-04-2021 Just Kitchen Holdings Corp. JK 15-04-2021 Sierra Madre Gold and Silver Ltd. SM 19-04-2021 Germinate Capital Ltd. GCAP.P 20-04-2021 Nobel29 Resources Corp NBLC 20-04-2021 Goldplay Mining Inc. AUC 21-04-2021 Pivotal Financial Corp. PIV.P 23-04-2021 SRHI Inc. SRHI 27-04-2021 K.B. Recycling Industries Ltd. AKMY 28-04-2021 Monumental Gold Corp. MGLD 30-04-2021 AIM6 Ventures Inc. AIMF.P 30-04-2021 Momentous Capital Corp. MCC.P 03-05-2021 American Eagle Gold Corp. AE 03-05-2021 Evolve FANGMA Index ETF TECH 05-05-2021 Millennial Precious Metals Corp. MPM 05-05-2021 Mercury Acquisitions Corp. MERC.P 11-05-2021 Cedarmont Capital Corp. CCCA.P 13-05-2021 Dash Capital Corp. DCX.P 14-05-2021 Good2GoRTO Corp. GRTO.P 17-05-2021 Imperial Helium Corp. IHC 21-05-2021 Veteran Capital Corp. VCC.P 27-05-2021 Samurai Capital Corp. SSS.P 27-05-2021 TUP Capital Inc. TUP.P 31-05-2021 Rise Capital Corp. RSE.P 01-06-2021 Rex Resources Corp. OWN 02-06-2021 Aumento Capital IX Corp. AUIX.P 03-06-2021 General Assembly Holdings Limited GA 03-06-2021 Just Energy Group Inc. JE 04-06-2021 Kovo HealthTech Corporation KOVO 04-06-2021 Aardvark Capital Corp. ACCA.P 07-06-2021 Brachium2 Capital Corp. BRCB.P 08-06-2021 Tier One Silver Inc. TSLV 09-06-2021 Badger Capital Corp. ECCT.P 14-06-2021 ECC Ventures 3 Corp. YVR.P 14-06-2021 Sleeping Giant Capital Corp. SSX.P 15-06-2021 ECC Ventures 4 Corp. ECCF.P 15-06-2021 Column Capital Corp. CPC.P 15-06-2021 Fairchild Gold Corp. FAIR 16-06-2021 Magen Ventures I Inc. MAGN/P 17-06-2021 Cielo Waste Solutions Corp. CMC 24-06-2021 Gravitas II Capital Corp. GII.P 29-06-2021 Toronto CleanTech Capital Inc. YAY.P 30-06-2021 Meed Growth Corp. MEED.P 30-06-2021 Cranstown Capital Corp CRAN.P 08-07-2021 First Helium Inc. HELI 13-07-2021 Northstar Clean Technologies Inc. ROOF 13-07-2021 Fife Capital Corp. FFC.P 15-07-2021 Michichi Capital Corp. MCCP.P 15-07-2021 Miza III Ventures Inc. MIZA.P 19-07-2021 Sayward Capital Corp. SAWC.P 19-07-2021 Bigstack Opportunities I Inc. STAK.P 23-07-2021 Whatcom Capital II Corp WAT.P 27-07-2021 Evergen Infrastructure Corp. EVGN 30-07-2021 Antera Ventures II Corp. AVII.P 04-08-2021 Hopefield Ventures Inc. HVI.P 05-08-2021 Rockport Capital Corp. R.P 10-08-2021 Saasquatch Capital Corp. SAAS.P 11-08-2021 Gotham Resource Corp. GHM.P 16-08-2021 AADirection Capital Corp. AAD.P 17-08-2021 J4 Ventures Inc. JJJJ.P 20-08-2021 A-Labs Capital V Corp. ALBA.P 24-08-2021 DGL Investments No.1 Inc DGL.P 26-08-2021 First Tidal Acquisition Corp. AAA.P 26-08-2021 Greenfield Acquisition Corp. GAC.P 26-08-2021 Yubba Capital Corp. YUB.P 26-08-2021 Millbank Mining Corp. MILL 27-08-2021 Minehub Technologies Inc. MHUB 07-09-2021 Atacama Copper Corporation ACOP 07-09-2021 Endurance Capital Corp. ECAP.P 09-09-2021 Alpine Summit Energy Partners Inc. ALPS.U 13-09-2021 ESG Capital 1 Inc. ESGO.P 15-09-2021 Vizsla Copper Corp. VCU 17-09-2021]]><![CDATA[TSX Features Large Gains Wednesday ]]>Wed, 22 Sep 2021 04:21:00 ESThttps://www.baystreet.ca/articles/marketupdates.aspx?id=10572Wednesday, September 22, 2021

16:21 PM EST
TSX Features Large Gains Wednesday

Parex, Canopy Among Big Winners



Stock markets in Canada did their best to ape their American cousins Wednesday, producing triple-digit gains as energy stocks led the pack.

The TSX Composite vaulted 150.45 points, or 1%, to greet the closing bell Wednesday at 20,401.49, though off its highs of the day.

The Canadian dollar acquired 0.34 cents to 78.36 cents U.S.

Energy pumped everything up, with Parex Resources mushrooming $15.1, or 7.6%, to $21.39, while Cenovus Energy leaped 82 cents, or 7.6%, to $11.64.

Cannabis stocks had a good time of it, as Canopy Growth zoomed 77 cents, or 4.5%, to $18.09, while Tilray corralled 52 cents, or 3.6%, to $14.88.

In consumer discretionary ranks, Martinrea International popped 53 cents, or 4.6%, to $12.02, while BRP Inc. climbed $2.93, or 2.5%, to $121.77.

Gold proved the lone naysayer, as Centerra Gold faded 18 cents, or 1.9%, to $9.29, while Osisko Gold Royalties lost 22 cents, or 1.5%. to $14.89.

ON BAYSTREET

The TSX Venture Exchange added 5.65 points to 874.26.

All but one of the 12 TSX sectors were positive to end the day, with energy gushing 4.5%, health-care sprinting 2.2%, and consumer discretionaries ahead 1.6%.

Gold dulled in price, however, by 0.7%.

ON WALLSTREET

U.S. stocks rallied on Wednesday after the Federal Reserve indicated it doesn’t see an imminent rollback of the monetary stimulus that has been supporting the economy throughout the pandemic.

The Dow Jones Industrial Average leaped 338.48 points, or 1.%, to 34,258.37,

The S&P 500 spiked 41.45 points, or 1%, to 4,395.64,

The NASDAQ Composite jumped 150.45 points, or 1%, to 14,896.85,

Major averages have registered losses for September, a historically choppy month for stocks. The S&P 500 is down 2.8% so far in September, including a 1.7% drop on Monday for its worst day since May.

The Dow is down about 3% in September.

Commodity-related stocks led the comeback Wednesday as fears eased about ripple effects from Evergrande. Devon Energy surged more than 7%, while APA, Diamondback Energy and Marathon Oil all jumped about 5%. China exposed Wynn Resorts bounced more than 2%.

FedEx shares tumbled 8% after profit fell at the shipper last quarter because of rising labor costs. FedEx also cut its forecast for the full year.

At the center of investor concerns is embattled Chinese property developer Evergrande, which is facing a possible default if it can’t make millions of dollars in debt payments on U.S. dollar-denominated bonds this week.

Evergrande’s shares in Hong Kong are down nearly 90% since July 2020 as China cracks down on real estate speculation. Investors worry about a step down in global economic growth if China slows its property market too much or lets Evergrande fail.

Helping sentiment overnight was word from Evergrande that its real estate group would pay the interest on time on a mainland-traded bond denominated in yuan.

Stocks came off their highs after Fed Chair Powell said the central bank’s further progress test has been met on its inflation mandate and
"many" members believe that test has been met on the employment mandate as well. This indicates the Fed is just about ready to begin removing stimulus.

The Fed is still split on the timing of the first interest rate hike. Wednesday’s so-called dot plot of projections showed nine of the 18 FOMC members expect a rate increase in 2022. That’s up from seven in June’s Fed projections.

Prices for 10-Year Treasurys were higher, lowering yields to 1.31% from Tuesday’s 1.32%. Treasury prices and yields move in opposite directions.

Oil prices added $1.49 to $71.98 U.S. a barrel.

Gold prices dropped $10.90 to $1,767.20 U.S. an ounce.





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<![CDATA[Stocks in Play: Sirona Biochem Corp.]]>Wed, 22 Sep 2021 11:51:09 ESThttps://www.baystreet.ca/articles/stocksinplay.aspx?id=33892Wednesday, September 22, 2021

11:51 AM EST - Sirona Biochem Corp. : Reports that In Vitro studies completed on compounds developed by our scientists at TFChem have shown a strong potential for anti-cellulite activity. The data showed evidence for both the ability to reduce existing cellulite and to prevent the formation of new cellulite. The mechanism of action is technically complex involving a pro-lipolytic effect, a decrease of the adipocyte size and an anti-inflammatory effect. Sirona Biochem Corp. (V.SBM) shares were up $0.005 at 0.21.

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<![CDATA[Cloud-Based System Announcement Sends Battery Maker Soaring]]>Wed, 22 Sep 2021 03:16:00 ESThttps://www.baystreet.ca/articles/stockstowatch.aspx?id=11346Wednesday, September 22, 2021

Cloud-Based System Announcement Sends Battery Maker Soaring


An Ontario-based industrial company just made a major announcement that the company is launching a new cloud-based battery analytics system called EVISION. According to the release, "this new system is cloud-based and is able to track battery operational usage in Electrovaya-powered applications such as lift trucks or electric buses in real time." Shares of Electrovaya Inc. (TSX:EFL) (OTCQB:EFLVF) rallied on the news.

Electrovaya Inc. designs, develops, and manufactures proprietary lithium ion batteries, battery systems, and battery-related products for energy storage, clean electric transportation and other specialized applications. It is a technology focused company extensive IP. The company generates revenue from the sale of batteries and battery systems.

Traders were bullish on the news as shares shot up to $1.18/share (+9.26%) at the mid-session high. This move is a continuation of the success this stock has had so far this month as it attempts to continue its breakout from the long term down trend it was in since February.

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<![CDATA[USD/CAD - Canadian Dollar Yo-Yo]]>Wed, 22 Sep 2021 11:16:01 ESThttps://www.baystreet.ca/articles/forex_trader.aspx?id=70516
The Canadian election is over and to paraphrase Tennessee Ernie Ford, "$700 million and what do you get? Another day older and deeper in debt."

Global investors were not remotely interest in Canadian politics. They were focused on Chinese property developers, specifically, the Evergrande Group. The deeply indebted company roiled global stock markets for the past few days due to fears that it would be unable to meet debt obligations. Investors feared that if Evergrande went bankrupt, the fall-out would spread through financial markets around the world. It didn’t happen yet.

Evergrande announced it would made interest payments due Thursday. However, there are reports that the payment is only for domestic bonds and not offshore payments.

The U.S. House of Representatives is gradually making headway with a bill to fund the government until December 3, which is helping to alleviate concerns of a government shutdown.

The Federal Open Market Committee is not expected to announce tapering plans at today’s meeting. Three weeks ago, Fed Chair Jerome Powell said that there was substantial slack in employment and was worried about the pandemic. He said an "ill-timed" move would be harmful. He acknowledged rising inflation but said it is transitory.

Many of his colleagues do not agree with Powell’s view. Philadelphia Fed President Patrick Harker prefers a rate hike sooner rather than later, and Dallas Fed President Robert Kaplan agrees. They do not have a vote. New York Fed President John William is a voter, and he is in Powell’s camp. He said the Delta variant increased uncertainties.

Today’s "dot-plot" forecast may create some FX volatility if they suggest higher rates sooner than what the dots showed in June.

The Canadian dollar is closely tracking US stocks, particularly the S&P 500 index. If stocks rise following the FOMC meeting, the Canadian dollar may follow suit.

EUR/USD traded sideways in a $1.1718-1.1737 band with traders ignoring news that Germany’s IFO institute trimmed German Gross Domestic Product growth in 2021 to 2.5%.

GBP/USD remains on the defensive as intraday technicals are bearish and traders are sidelined ahead of the FOMC decision.

USD/JPY climbed steadily overnight, rising from 109.13 to 109.60. The Bank of Japan left rates and stimulus unchanged. The U.S. and Canadian economic calendars are empty.

Rahim Madhavji is the President of KnightsbridgeFX.com, a Canadian currency exchange that provides better rates than the banks to Canadians]]>
<![CDATA[Citigroup Vaults On Beating Quarterly Projections]]>Thu, 12 Oct 2017 10:07:02 ESThttp://www.baystreet.ca/articles.aspx?id=38460Earnings per Share came in for the quarter at $1.42, as opposed to $1.32 expected by experts. Revenue was $18.173 billion versus $17.896 billion expected. Fixed income trading: $2.877 billion versus a projected $2.84 billion

Said CEO Michael Corbat, "We had revenue increases in many of the products we have been investing in, tightly managed our expenses, and again saw loan growth in both our consumer and institutional businesses.”

Citi reported a 3% year-over-year increase in global consumer banking revenue. In North America, retail banking revenue rose 12%, excluding mortgages. Citi cited "continued growth in loans and assets under management," as well as higher interest rates.

The bank's international consumer business saw an 8% revenue increase, driven by higher loans and deposit volumes growth.

Citi's end-of-period loans, meanwhile, rose 2% to $653 billion, while deposits increased by 3% to $964 billion.

Shares of Citigroup have risen 26% this year, easily outperforming the broader market. The S&P 500 has gained 14% in 2017.

Citigroup's stock has also outperformed those of other big banks. Shares of JPMorgan Chase and Bank of America are up 11.9% and 16.9%,, respectively.

Folks who follow macroeconomic developments are also aware that Citigroup could benefit from tighter monetary policy in the near future. The U.S. Federal Reserve signaled a December rate hike in the summary of its Sept. 20 meeting.
Shares in C opened Thursday took on 31 cents to $75.25. ]]>
<![CDATA[Enterprise Group’s Hart Oilfield Rentals: Custom, Cost-Effective Infrastructure]]>Thu, 12 Oct 2017 09:51:46 ESThttp://www.baystreet.ca/articles.aspx?id=38459


Simply, if you are building a mining or oil business Hart rents customized equipment for project sites, drilling & completions and facilities that require mobile infrastructure.

It makes zero sense to expend valuable capital to purchase generators, offices, WC’s etc. As well, each project is different so flexibility, customization and ease of transport is key.



“Our large competitive advantage is the ability to what we refer to as ‘combo technology,” states Joel Bardwell, Senior Manager at Hart. “Whether on a skid or one of our proprietary portable trailers, we can deliver not only the equipment required, but customize it to be the most cost effective. Customers appreciate the approach and with our ongoing R&D and patent/patent pending profile, both served us well during the downturn and positions us well for the rapidly increasing business, both from previous and new clients.”

Hart currently has 6 locations that are strategically located throughout west central and northern Alberta and northeastern British Columbia. These 6 locations have allowed Hart to establish 6 complimentary “service circles” that slightly overlap and allow Hart to deliver oilfield site set-up services and equipment rentals efficiently to its customers as well as respond quickly to requests for service or repairs to its equipment when required.

Early on, Hart realized that the uniqueness of its approach warranted patent filings for equipment as well as industrial designs. With approximately 25 equally divided between Canada and the US, the practice both cements Hart’s reputation as an innovator as well as protect the Company and Enterprise shareholders from interlopers.

There are always interlopers.



It should also be noted that Hart does not sell the custom equipment. Hart is constantly developing equipment to add to its robust and state of the art rental pool: And all with
safety the primary consideration.

Just as with all the Enterprise Group’s subsidiaries, attention to detail is a given. Reactive and proactive to customer needs is what cuts it out of what is already a small herd. Whether resource, municipal needs, pipelines or any other infrastructure pursuit, that word - infrastructure - should be reflected to a greater or lesser degree in every portfolio. US peers are hitting new highs and others, such as Enterprise’s share price is being wrongly assaulted by a volatile oil price.

The bottom line is that over the years Enterprise has made savvy, money making purchases and sales. TC Backhoe sold in 2016 for approximately C$20 million. The Company was purchased in 2007 for C$12 million and under the Enterprise umbrella generated $150 million. The sale was done during the recent downturn, but had been planned previously and drastically lowered and improved the Company’s financials.

Having successfully steered through a blistering downturn, which seems to have unfairly punish a stock that has a breakup of C$0.85 but is trading at C$0.30, it seems a good addition to a junior portfolio.

Investors will also note that as the Company is traded on the TSX that adds to a list of bonafides to Enterprise that investors would be wise to take stock.



Legal Disclaimer/Disclosure: This document is not and should not be construed as an offer to sell or the solicitation of an offer to purchase or subscribe for any investment. No information in this Report should be construed as individualized investment advice. A licensed financial advisor should be consulted prior to making any investment decision. We make no guarantee, representation or warranty and accept no responsibility or liability as to its accuracy or completeness. Baystreet.ca assumes no warranty, liability or guarantee for the current relevance, correctness or completeness of any information provided within this Report and will not be held liable for the consequence of reliance upon any opinion or statement contained herein or any omission. Baystreet.ca has been compensated ten thousand dollars for its efforts in distributing the TSX:E profile on its web site and distributing it to its database of subscribers. Furthermore, we assume no liability for any direct or indirect loss or damage or, in particular, for lost profit, which you may incur as a result of the use and existence of the information, provided within this Report. ]]>
<![CDATA[WADA Lifts CBD Ban for Professional Athletes and their Doctors]]>Thu, 12 Oct 2017 08:02:09 ESThttp://www.baystreet.ca/articles.aspx?id=38458
The World Anti-Doping Agency (WADA) just removed hemp-derived cannabidiol (CBD) from its 2018 List of Prohibited Substances, freeing up athletes in the largest international athletic associations in the world like the IOC and FIFA as well as major sports leagues like UFC, NCAA, NFL, NBA, NHL, MLB, and many more to use CBD-infused products as to treat pain and inflammation based disorders.

As WADA is a global governing body, now athletes around the world can use CBD to treat pain, inflammation and injuries, without the risk of league suspension or a loss of sponsors. Professional athletes around the world can now use Phivida’s CBD infused functional foods and natural health brands, free from WADA restrictions, for the first time in the history of competitive sports.

Cannabinoids have just got mainstream, starting with the major leagues. But it’s investors, and CBD-infused infused functional foods and natural health products brands that stand to benefit the most.

According to Allied Research, the global anti-Inflammatory therapeutics market is projected to top $106 Billion USD by 2020, dominated by OTC drugs like Ibuprofen ($14.2 billion USD by 2022). The US opiate drug as an additional $17.7 billion USD by 2021 dominated by Oxycontin, Percocet and Vicodin. Both the NSAIDs and opiate markets are dominated by pain and inflammation pharmaceutical mogul Bayer (BAYN.DE), with a market capital of over $96 billion.

Cannabidiol is widely studied as a powerful anti-inflammatory and was even part of a US Department of Health patent application for anti-oxidant and neuroprotectant properties.

RISING DEMAND FOR CBD-INFUSED PRODUCTS

Timing the market is vital for maximizing investment returns. There is no better example of fortunate timing than WADA’s announcement coinciding with the launch of Phivida Holdings Inc.’s CBD-infused functional foods and natural health products, and the filing of prospectus for an initial public offering and an application to list its class A shares on the Canadian Securities Exchange (CSE).

As a premiere CBD brand, Phivida is perfectly positioned to capture a leadership market share in this emerging global natural health products market. The Phivida IPO offers investors with exposure to three major growth trends within a global health and wellness $1 Trillion USD in 2017.

Bloomberg predicts US cannabinoid products as a $50 billion USD market by 2020. Within the cannabinoids market, Phivida has created its own unique products category – functional CBD edibles.

High Times magazine produces a top ten edibles list and this year six of them were cannabinoid infused beverages. Phivida specializes in the CBD beverages avoiding a saturated confectionary soft drinks market with functional CBD iced teas, CBD protein shakes and CBD vitamin juices.

Health care practitioners, and now sports medicine professionals, and major nutraceutical distributors cite the paradigm shift from chemical based pharmaceuticals to phytonutraceuticals.

Supplements as a whole market is exploding, having gone from a $37 billion US estimate in 2015, to an expectation of $220 billion globally by 2022.

Nutrition Business Journal cites the two fastest growing categories as; meal replacements (14.8%) and sports nutrition (11.6%), two flagship CBD product lines at Phivida – both infused with a high dose of cannabidiol. Phivida’s nanoencapsulation technology loads CBD into a protective, hydrophilic, liposomal membrane that bonds better with cells. The result is a faster acting longer lasting absorption rates, with up to 400% more bioavailability and a timed release for enhanced duration in the bloodstream, and solubility.

Functional foods have surpassed traditional food topping a $100 billion USD back in 2015. The functional food industry is in the process of a massive consolidation as over $10 billion USD of new M&A deals were completed in 2016 alone.

Major food companies are acquiring new organic and functional food brands at a staggering rate, lead by multi-national conglomerates such as Hains Celestial (NASDAQ: HAIN), PepsiCo (NYSE:PEP) and General Mills (NYSE:GIS).

It’s no wonder that major retailers in both the grocery sector, and the nutritional supplements space are champing at the bit to grow their selection of products for consumers.

WADA’s prohibition lift may be the catalyst needed for supplement giant GNC Holdings Inc. (NYSE:GNC) to get its year back on track. Having fallen from over $20 to just over $8 within the year, the ability to introduce new lines of nutritional supplements with pain relieving qualities could be a shot in the arm for GNC.

Whereas major grocery and pharmacy chains, such as Canadian retail giant Loblaw Companies Inc. (TSX:L)(OTC:LBLCF), which owns the well-established Shoppers Drug Mart chain. Unlike GNC, which to-date has been reluctant to carry CBD products in-store, Shoppers Drug Mart has been very open about its willingness to carry CBD and marijuana-related products on its shelves.

It’s still to be determined when and if that same level of acceptance will be seen on the US side of the border. GNC currently doesn’t carry any CBD-infused products, selling only hemp proteins as a remotely close cousin. Nor is CVS Health Corporation (NYSE:CVS), yet.

Online mega-retailer Amazon.com Inc. (NASDAQ:AMZN) is already selling CBD products. On track to hit the very first $1 trillion valuation, Amazon is ahead of the curve on the blossoming CBD sector.

Whole Foods CEO John Mackey stated he would support cannabinoid products sold in Wholefoods “if only the plant was legal to use and the local community approved.”

Not only is CBD-Hemp Oil extract legal under the Farm Bill, but WADA’s new rules has the potential for a massive demand from professional athletes, sports medicine practitioners and alternative health care practitioners and the everyday active health conscious consumer. It looks like John might get his wish.

Plant-based supplements like CBD are no longer limited to the estimated 17,500 licensed alternative health care practitioners, as majority of supplements are now sold through big box FCMD (food, club, mass and drug) retail locations.

Walgreens, CVS and Walmart combined for a total of 27,087 on-site pharmacists at 15,208 stores across the United States. With Amazon’s acquisition of Wholefoods earlier this year, it’s clear that the majors are looking to capitalize on the health-conscious consumer.

Now it’s a matter of CBD’s true market infiltration to take hold, and for producers to begin stocking only the best CBD infused FFNHP formulations.

Primed and ready to supply these retailers with timely product, Phivida boasts an entire line of CBD functional foods and natural health products, doctor formulated for enhanced athletic performance and everyday preventative health for active families.

INDUSTRY AND ORGANIC ADVANTAGE

Totally legal, and boasting a laundry list of health benefits, cannabidiol (CBD) is making waves through the food and beverage industry in the form of several new products.

So it’s no wonder that any new producer of CBD products will want to seek out the expertise of those already familiar with the food and beverage industry.

Assembling an impressive array of talent, Phivida’s management team is built to master not only its formulation, but also its branding and retail distribution.

Among the names on the company’s deck are Directors Bill Ciprick and James Bailey, who each come with decades of branding and distribution experience for industry heavy-hitters, such as Proctor and Gamble Health Care, and Red Bull Canada.

But for the consumer, the most important aspect to consider beyond retail availability is that of the product’s organic, whole-plant blends and formulations.

Phivida infuses full-spectrum CBD Hemp Oil extracts into special blends of functional foods and natural health products (FFNHP). All nanoencapsulated CBD used in Phivida’s products is hemp-derived from licensed hemp farms and federally legal and eligible for sale in any retail channel.

The company’s CBD-infused functional beverages are nanoencapsulated for enhanced bioavailability, and doctor-formulated for targeted outcomes. Phivida boasts quality-, and safety-tested products that are cGMP manufactured to the highest quality assurance standards.

Phivida CBD Vitamin Drinks use certified organic and plant-based ingredients. Phivida’s CBD infusions are also vegan, gluten- and soy-free with no sugar added and contain at least 35% RDA of Vitamin B complex and Vitamin C.

Other key sports performance ingredients include premium electrolyte replacements, glutamine for muscle, bone and joint repair, resveratrol for added anti-oxidants, blended in an all-natural fruit and vegetable puree with no artificial colours or flavours added.

Former President of the BC College of Naturopaths, Dr. Brian Martin, states; “Phivida offers legal, clinical grade, CBD, third-party tested, and safe for practitioners to recommend to athletes and patients.” Marijuana is federally illegal in the United States, but hemp provides a legal option for clinicians. WADA’s new ruling now opens CBD to team physicians, physiotherapists, nutritionists and kinesiologists. “Phivida is a high-quality brand for athletes who need healthier, non-addictive treatments for pain and inflammation,” said Dr. Martin.

WADA’s now-positive stance on CBD represents a great opportunity for Phivida. Competitive athletes in high-impact sports like football, hockey and mixed martial arts are often plagued with a lifetime of debilitating physical injuries and mental health conditions.

Phivida’s CBD infusions give athletes, their trainers, and medical staff a whole-plant nutraceutical alternative to highly addictive opiate pharmaceuticals to treat chronic pain and inflammation from these injuries and afflictions.

ATHLETIC ENDORSEMENT

Earlier this year, the New York Times published a neuropathology study that found that 99% of former NFL players tested positive for Chronic Traumatic Encephalopathy (CTE). The NFL supports the NFL Players Association’s (NFLPA) study on the use of cannabinoids to treat chronic pain inflammation based disorders, like CTE, according to a Sports Illustrated article published on August 1st, 2017.

The NFLPA was coincided by the launch of the Your Mind Your Body Campaign designed to equip current and former players with the tools needed to achieve a healthy lifestyle, both physically and mentally and encourages an open dialogue on pressing health and safety issues, including CTE, and mental health.

Use of cannabinoid-based alternatives to opiates is not a new issue for the NFL. Many former players have become advocates for CBD as alternatives to narcotics, including former Baltimore Raven Eugene Monroe, Denver Bronco Jake Plummer, Chicago Bear Jim McMahon, and Ricky Williams who publicly stated a belief that “60-70% of all NFL athletes use medicinal marijuana”.

Despite the fact that both the NFLPA and NFL endorse a study of marijuana as a potential pain-management tool, the NFL currently suspends players who test positive for the drug and modified the threshold for a positive test for marijuana (i.e. THC). Finally, WADA’s new adoption of CBD as an approved substance, gives the NFL and its players hope for immediate relief, without controversy.

Phivida’s CBD-infused functional foods and natural health products are formulated with a special blend of nutraceuticals for enhanced athletic performance, and infused with a therapeutic dose of nanoencapsulated cannabidiol from hemp.

"This pain is never going away. My body is damaged," Eugene Monroe, 30, stated in a Washington Post article. "I have to manage it somehow. Managing it with pills was slowly killing me.”

With the lift on the CBD ban, WADA is finally taking sensible action on behalf of the athletes it is tasked to protect.

“Cannabidiol is no longer prohibited,” WADA said, maintaining that THC will remain as a banned substance. WADA cited the reason for the removal of cannabidiol from the banned list was because “it is not a cannabimimetic and does not mimic the effects of THC.”

WADA further clarified: “THC is still a prohibited substance.”

THC or tetrahydrocannabinol is the psychotropic chemical compound in marijuana that contributes to euphoric effects. Many CBD products on the market are marijuana derived and contain THC.

Purity levels in CBD-infused products will give an industry advantage to those producers that can utilize the most CBD, without delivering any THC.

Phivida’s nanoencapsulated CBD-Hemp Oil extracts, edibles and infusions, are federally legal, derived from Farm-Bill-compliant farms, and are now 100% WADA-compliant sources for cannabidiol. As well, they’re coming to a store near you.

Legal Disclaimer/Disclosure: This document is not and should not be construed as an offer to sell or the solicitation of an offer to purchase or subscribe for any investment. No information in this Report should be construed as individualized investment advice. A licensed financial advisor should be consulted prior to making any investment decision. We make no guarantee, representation or warranty and accept no responsibility or liability as to its accuracy or completeness. Baystreet.ca assumes no warranty, liability or guarantee for the current relevance, correctness or completeness of any information provided within this Report and will not be held liable for the consequence of reliance upon any opinion or statement contained herein or any omission. Baystreet.ca has been compensated eight hundred dollars for its efforts in distributing the Phivida article. Furthermore, we assume no liability for any direct or indirect loss or damage or, in particular, for lost profit, which you may incur as a result of the use and existence of the information, provided within this Report.
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<![CDATA[Valeant (VRX) Cleans Up its Debt]]>Thu, 12 Oct 2017 07:40:19 ESThttp://www.baystreet.ca/articles.aspx?id=38457
Valeant, on October 3, issued a $1-billion debt offering that lower the total upcoming maturities.

Valeant priced its $1-billion principal amount of 5.5% senior notes due in 2025. It will use the proceeds to roll over existing debt. The issuance is not trivial: the lower interest will save the company money while simultaneously pushing out the maturity date.

The low interest rate offered suggests the market has a healthy appetite for Valeant’s debt, so the fear of any bankruptcy is now off the table. Valeant now has around $26 billion in debt and $24 billion net of cash. In June, the company’s net debt was $26.7 billion. The sale of Dendreon raised $811 million, while iNova brought in $923 million. The net effect is that Valeant will have $3.9 billion maturing in 2020.

Assuming Valeant generates $1 billion in free cash flow, the company’s interest on debt in 2020 are covered. It sets the stage for refinancing for the debt due in 2021 and beyond.
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<![CDATA[Athersys Hikes on MultiStem Hookup with Japanese Firm ]]>Wed, 11 Oct 2017 12:24:52 ESThttp://www.baystreet.ca/articles.aspx?id=38456Based on the agreement, Athersys and NCLi will engage in technology transfer activities at NCLi’s facility in Japan, and NCLi will begin contract manufacturing support for commercial development of the product in Japan. Athersys’ collaborator, HEALIOS K.K. (Healios), has an exclusive license to develop and market MultiStem in Japan for ischemic stroke, and is currently conducting its registrational clinical study, TREASURE, in Japan.

A news release issued Wednesday claimed therapeutic treatment with MultiStem may extend the stroke treatment window to 36 hours from the current three to four-and-a-half hours with existing standard of care, which would enable many more stroke patients to receive treatment than under the current standard of care and may also meaningfully enhance patient recovery.
Currently, there are nearly 17 million people that suffer a stroke globally and, on average, someone in the United States has a stroke every 40 seconds.
Athersys shares gained 11 cents, or 4.9%, midday Wednesday to $2.34, within a 52-week trading range of $1.02 to $2.63.
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<![CDATA[Delta Gains Altitude on Q3 Earnings]]>Wed, 11 Oct 2017 11:12:22 ESThttp://www.baystreet.ca/articles.aspx?id=38455The number-two U.S. airline reported adjusted earnings per share of $1.57, beating analysts' expectations of $1.53 a share for a quarter that ended with hurricanes that crippled operations.

Earnings per share were about 8% lower over the year-earlier period.

The airline posted quarterly revenue of $11.06 billion, slightly higher than expectations for $11.03 billion in the three months ended in September.

Delta's passenger revenue per available seat mile — a key income metric — rose 1.9%, in line with the airline's updated forecast earlier last month. It said it expects a 2% to 4% increase in passenger unit revenue in the fourth quarter, but warned that higher fuel costs would likely crimp operating margins for the last three months of the year.

Delta posted higher revenue in domestic and Latin American and trans-Atlantic operations, despite powerful storms in the Southern U.S. in August and September.

Delta executives will likely address the impact from deadly storms that hit carriers' hubs late this summer, as well as a bitter trade dispute between two Delta suppliers, Boeing and Canada's Bombardier.

Hurricane Irma, which struck Florida and Delta's hub in Atlanta, forced the airline to cancel more than 2,000 flights.

Delta shares began Wednesday’s trading up 37 cents to $53.07
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<![CDATA[BlackRock Rocks Markets on Q3 Figures ]]>Wed, 11 Oct 2017 10:42:55 ESThttp://www.baystreet.ca/articles.aspx?id=38454Total assets under management rose 17% to nearly $6 trillion as net inflows easily beat Wall Street expectations.

Here's how the company's results compare to Wall Street's expectations: EPS came in at $5.92 per share, compared with $5.56 expected. Revenue was $3.233 billion versus $3.096 billion expected.

Total assets under management registered at $5.977 trillion versus experts’ projected $5.94 trillion.
Net inflows were $96 billion versus $71.62 billion expected.
BlackRock also said its iShares exchange-traded funds business saw $52.3 billion in long-term net inflows, led by $33.1 billion in equity inflows. Assets under management for iShares totaled $1.640 trillion, accounting for 27% of BlackRock's total assets.

The company said cash assets rose 6 percent from a year earlier to $425.4 billion.

"One of the greatest problems we still have in the world is how much money is sitting on the sideline," according to CEO Larry Fink. "Even in places like Japan, there's $5 trillion in cash earning negative return. In Germany 72% of savings are in bank accounts. We're seeing some of that unlocked (and), we're seeing people put some of that money to work."

The company's stock has been on fire this year, advancing 21.5%. By comparison, the overall S&P 500 is up about 14% in the period. BlackRock shares have also outperformed the financials sector, which is up 13% in 2017.
BlackRock shares opened Wednesday up $2.80 to $468.29 ]]>
<![CDATA[Emblem Positioned to be Disruptive in the Medical Cannabis Industry]]>Wed, 11 Oct 2017 08:44:45 ESThttp://www.baystreet.ca/articles.aspx?id=38453
First, it has become apparent that for the foreseeable future, a few select Canadian marijuana companies will lead the sector growth, particularly over the US.


Second, the virtually unlimited growth in the space will and is being realized through the pharmaceutical developments, particularly in the pain, sleep and anxiety markets. Pain markets alone are $60 billion and will rise over 30% to $83 billion by 2024. Pain and sleep markets are two of the largest component markets.

Key to this growth at companies such as Emblem (TSXV:EMC) is when society embraces marijuana as what could well be the first line of defense and treatment for many afflictions, including the devastating opiate crisis.

“Emblem is focused on developing mainstream medical therapies to deliver consistent, 12-hour relief, with reduced side effects.,” states Gordon Fox, CEO Emblem Corp. “Canada is one of the few jurisdictions in the world –including the USA--with a path to regulatory approval of cannabinoid based medication. ACMPR has mechanisms for approval and these mechanisms are currently being expanded. The Canadian medical community can participate in research and clinical trials and share data and results across provincial boundaries.

With our recently announced exclusive arrangement with CanntabTherapeutics, Emblem is executing to plan.”

The Canntab Deal

Very simply, Canntab has the proprietary sustained release formulation: Emblem is licensed under the Access to Cannabis for Medical Purposes Regulations (the “ACMPR”) to cultivate and sell medical marijuana.

Canada is one of the few jurisdictions in the world with a path to regulatory approval of cannabinoid based medication.

- The current medical cannabis market in Canada is about $400 million. It is searching for better dosage formats. Simple oils have grown to about 35% of the market in less than a year. More appropriate dosage formats are expected to have comparable effects in the market.

- Currently, Cannabis tends to require re-dosing. A titratable, sustained release formulation would have substantial appeal in the chronic neuropathic pain market. Anecdotally, that segment represents a reasonable percentage of the current$400 million medical cannabis market.

- The Canadian non-cannabis chronic pain pharmaceutical market is over $500 million and dominated by opioids and is expected to reach $42.16 billion worldwide by 2021. A cannabinoid based sustained release product has potential to enter that market.



From Emblem’s October 3rd Press Release:

Canntab Therapeutics Limited is a Canadian cannabis oral dosage formulation company based in Markham Ontario, engaged in the research and development of advanced pharmaceutical grade formulations of cannabinoids. Canntab has developed in-house technology to deliver standardized medical cannabis extract from selective strains in a variety of extended/sustained release pharmaceutical dosages for therapeutic use.

The Agreement grants to Emblem the exclusive right in Canada to Canntab’s patents and know-how for the purpose of developing, commercializing, using, selling, and offering the Sustained Release Product for sale under the Emblem brand. The License does not include the right to import or export the Product. The Sustained Release Products will be manufactured by Emblem or by Canntab, after Canntab receives appropriate licensing allowing such manufacture.

As per other Royalty Agreements in the Pharmaceutical Sector terms weren’t disclosed other than ‘double digit” royalty. To be clear this relationship with Canntab is extremely favorable to Emblem.

It cannot be overstated how important a develop this is for patients. Instead of waiting 5-10 years for a therapy to get to patients, cannabis based products take mere months. There is substantial evidence that cannabinoids are effective for the treatment of a number of conditions including (i) chronic pain (ii) nausea, (iii) anxiety and sleep disorders, and (iv) spasticity in patients with Multiple Sclerosis.

The Global Opiate Crisis

While therapies will address particular conditions, anecdotally many patients know and have expressed the efficacy, ease of use and lack of side effects in pain management particularly.

Emblem plans to bring products to deal with neurological pain by fall 2018. Once the 12- hour delivery protocol is established, many afflictions can be addressed via the proper strain and titration.

Investors need to embrace the potential of this market and acquire some exposure. Choose carefully as there are many companies who have and will likely fail or price themselves out of the market.

Emblem’s business plan sets three divisions to be profit centres. From ongoing reasonable to maximum growth:

- Dried flower is the commodity space which provides superior, but generic product

- High quality strains (think aged single malt scotch versus JW Black) for the aficionado

- Top quality strains for ongoing therapeutics’ development.

Margins increase exponentially from dried flower to medical strains. Emblem (TSXV:EMC) is focused on the two markets above dried flower, although will be a major force in all three.

Marijuana Market Maturing Slightly. Invest Carefully, but Invest

The Marijuana space has matured somewhat from mining guys seeing a quick turn in fortunes by announcing some hair-brained participation to get their languishing stock prices up.

Then there the companies who conclude that more marijuana is better and are growing as much as they can.

Finally, there are a few companies, such as Emblem that have a solid growth plan and are not afraid to state their corporate intentions. Many comparisons are made to the UK’s GW Pharma as the direction a developing company should travel.

GW’s Sativex is approved for the treatment of spasticity due to multiple sclerosis in 30 countries outside the United States. The Company has a deep pipeline of additional cannabinoid product candidates which includes compounds in Phase 1 and 2 trials for glioma, schizophrenia and epilepsy. GW’s ADS on NASDAQ in 2013 came at $8.90. Last trade at this writing was $114.07.

Fun Facts

- Some plant biologists got their early weed (60’s, 70’s) experience by serving time for possession, etc.

- Lots of anecdotal evidence that Big Pharma continues to pay doctors to keep their products at the forefront

The five companies that disclosed what they paid doctors over a six-month period (July to December 2016) were:

- AbbVie (NYSE:ABBV) : $4,104,000

- Novartis (NYSE:NVS) : $3,645,026

- Amgen (NASDAQ:AMGN) : $2,365,000

- Bristol-Myers Squibb (NYSE:BMY) : $1,388,187

- Gilead (NASDAQ: GILD) : $539,761



That alone should give Marijuana companies such as Emblem a place in your speculative portfolio.

Oh, yes. 10 percent of patients suffer from Trypanophobia. That fear keeps 20 percent of that number to never seek medical attention. Look it up…

Perhaps with the inevitable insertion of Marijuana based therapies should reduce or eliminate that number.

And how would Big Pharma ‘payola’ doctors for such a readily available and efficacious therapy? Bueller?

Next couple of decades should be interesting; with less pain, more sleep, relief from chronic disease as well as lives saved.

Legal Disclaimer/Disclosure: This document is not and should not be construed as an offer to sell or the solicitation of an offer to purchase or subscribe for any investment. No information in this Report should be construed as individualized investment advice. A licensed financial advisor should be consulted prior to making any investment decision. We make no guarantee, representation or warranty and accept no responsibility or liability as to its accuracy or completeness. Baystreet.ca assumes no warranty, liability or guarantee for the current relevance, correctness or completeness of any information provided within this Report and will not be held liable for the consequence of reliance upon any opinion or statement contained herein or any omission. Baystreet.ca has been compensated four thousand dollars for its efforts in distributing the TSXV:EMC profile on its web site and distributing it to its database of subscribers. Furthermore, we assume no liability for any direct or indirect loss or damage or, in particular, for lost profit, which you may incur as a result of the use and existence of the information, provided within this Report. ]]>
<![CDATA[AnaptysBio Makes Waves on Trial Data ]]>Tue, 10 Oct 2017 03:25:01 ESThttp://www.baystreet.ca/articles.aspx?id=38452Said CEO Hamza Suria, “we are very encouraged by the efficacy results to date in this Phase 2a study, which exemplify our strategic focus on developing first-in-class anti-inflammatory antibody therapeutics to help patients suffering from debilitating inflammatory diseases.

“We look forward to further advancing the development of ANB020 for the treatment of patients with atopic diseases.”

The Phase 2a study is currently ongoing and EASI scores will be assessed for each patient up to 140 days post-ANB020 treatment. The company plans to report full data from this trial at a medical conference following study completion.

AnaptysBio is a clinical-stage biotechnology company developing what it calls “first-in-class antibody product candidates focused on unmet medical needs in inflammation”.

Its shares neared the close Tuesday up in the stratosphere, leaping in price $31.02, or 88.6%, to $66.02.
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<![CDATA[Wal-Mart Hikes on Share Buyback Program]]>Tue, 10 Oct 2017 11:30:29 ESThttp://www.baystreet.ca/articles.aspx?id=38451Wal-Mart also unveiled a $20-billion share repurchase program to replace its existing plan. The company says the new authorization will be used over a two-year period.

The big-box retailer explained it will continue to focus on remodeling existing stores and incorporating "digital experiences" in place of building new locations.

Ahead of its annual investor day in Bentonville, Arkansas, Wal-Mart said it expects its U.S. e-commerce business to grow sales by roughly 40% in fiscal 2019. Online transactions surged 60% during the second quarter of this year, the retailer declared in August.

The company still expects adjusted earnings per share for the fiscal year 2018 to fall between $4.30 and $4.40.

For fiscal 2019, Wal-Mart said it expects earnings to increase about 5% year over year. Net sales for fiscal 2019 are expected to grow close to 3%, driven by same-store and e-commerce sales growth, the company added.

In fiscal 2019, across the U.S., Walmart will open fewer than 15 Supercenters and fewer than 10 of its Neighborhood Markets.

For fiscal years 2018 and 2019 combined, Wal-Mart is calling for capital expenditures to be about $11 billion, with e-commerce investments going toward enhancing the retailer's supply chain. Wal-Mart's international business will also invest more in fulfillment capabilities.

Shares in Wal-Mart galloped $3.53, or 4.4%, to $84.06
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