RSS Feed en-us Copyright (c) 2016 Inc. All rights reserved. 2/10/2016 9:10:35 PM <![CDATA[Canadian Energy Services & Technology "OUTPERFORM"]]>Wed, 10 Feb 2016 11:59:00 EST<![CDATA[Mixed Report Sees Oil Prices Yo-Yo]]>Wed, 10 Feb 2016 12:30:00 EST, February 10, 2016

Mixed Report Sees Oil Prices Yo-Yo

U.S. crude dipped into and out of negative territory mid-morning Wednesday, after U.S. government data showed a surprise dive in crude stockpiles in the past week, but a build to record levels at the key delivery point in Oklahoma for the West Texas Intermediate contract.

The Energy Information Administration reported U.S. commercial crude inventories capsized 754,000 barrels to a total of 502 million barrels, as refinery runs and exports fell from the previous week. Analysts had expected at 3.6-million-barrel leap.

However, U.S. crude stocks at Cushing, Oklahoma hit a new record last week after rising 523,000 barrels to 64.7 million barrels, according to the EIA data

U.S. weekly commercial crude oil imports recorded the biggest week-on-week decline last week since December 2014, data showed, falling to 7.1 million barrels per day from the previous 8.3 million bpd

Brent crude was up 72 cents at $31.04 U.S. a barrel by late morning. The contract fell for a fourth straight session on Tuesday to end down 7.8%. U.S. crude prices erased eight cents at $27.86 U.S. after falling as low as $28.31.

Prices had recovered earlier on Wednesday, a day after posting its third-biggest daily fall since the financial crisis, on talk major producers might tackle a glut that has sent prices to 12-year lows.

Iran's oil minister said Tehran was ready to negotiate with Saudi Arabia and his Russian counterpart proposed producing countries reduce output by one million barrels per day - without saying whether non-OPEC member Russia would actually cut its production.

<![CDATA[Tech Looks Like Bubble, Could Pop]]>Tue, 09 Feb 2016 12:00:00 EST, February 09, 2016

Tech Looks Like Bubble, Could Pop

Almost all technology stocks got hammered yet again on Monday. (NYSE: CRM) dropped 8% while Facebook (NASDAQ: FB) lost 4% and Microsoft (NASDAQ: MSFT) fell 2%.

And while many see it as a continuation of Friday's rout sparked by LinkedIn's (NYSE: LNKD) weak outlook for the rest of the year, the damage has been piling up for weeks. Investors are fleeing almost all tech names over concerns about the slowing global economy in general and a reassessment of the potential growth of online and "cloud" markets more specifically.

LinkedIn, pummeled by an unprecedented 44% one-day loss Friday, was one of the few tech stocks rising on Monday, as bargain hunters pushed its shares up almost 2%. Still, the shares have lost more than half of their value since the end of 2015.

But, it turns out, there was still plenty more downside risk to go around. LinkedIn is still off by more than 40% since it reported earnings after the market closed on Feb 4. Although fourth quarter adjusted earnings per share of 94 cents U.S. and revenue of $862 million beat the average Wall Street analyst estimate, the professional social networking company said it would earn only 55 cents U.S. on revenue of $820 million in the next quarter. And for the full year of 2016, revenue of $3.6 billion to $3.65 billion U.S. was less than the $3.9 billion Wall Street had been expecting.

Such a modest disappointment has sparked a massive reassessment of the potential for many Internet stocks. With investors in a panicky mood, the carnage has spread across much of the tech sector but stocks with online business strategies similar to LinkedIn's have been hit especially hard. Workday (NYSE: WDAY), providor of online software for human resources, ended down 10% on Monday and 39% for the year. Twitter (NYSE: TWTR) lost 5% and was down 36% for the year. And Adobe Systems (NASDAQ: ADBE) was off 5% on Monday and 20% for the year.

<![CDATA[Economic Calendar]]>Wed, 10 Feb 2016 09:10:35 EST 2016


Monday, February 01, 2016 RBC Manufacturing PMI: 9:30am Jan At 49.3 in January, the seasonally adjusted RBC Canadian Manufacturing PMI recovered from December's survey-record low of 47.5, but remained below the neutral 50.0 threshold for the sixth consecutive month. The RBC Canadian Manufacturing Purchasing Managers’ Index (PMI), a measure of manufacturing business conditions, fell to a seasonally adjusted 47.5 in December from 48.6 in November. It was the lowest level for the survey that goes back to 2010.
Friday, February 05, 2016 Housing Starts: 8:15am Jan Canada Mortgage and Housing Corporation reported Friday that the seasonally-adjusted annualized rate of housing starts fell to 165,861 units last month from a downwardly revised 172,533 units in December. Canadian Mortgage and Housing Corp showed the seasonally-adjusted annualized rate of housing starts fell to 172,965 units in December from an upwardly revised 212,028 units in November. Forecasters had expected 200,000 starts.
Friday, February 05, 2016 IVEY Purchasing Managers Index: 10:00am Jan Western University in London, Ontario reported that its Ivey Purchasing Managers Index (PMI) registered 66 by the end of January, compared to 49.9 in December, and 45.4 in January 2015. The Ivey Purchasing Managers Index (PMI) by the end of December 2015 stood at 49.9, compared to 63.6 for November 2015, and 55.4 for December 2014.
Friday, February 05, 2016 Labour Force Survey: 7:00am Jan Employment edged down by 5.700 in January and the unemployment rate eked up to 7.2%. Employment edged up 23,000, or 0.1%, in December and the unemployment rate was 7.1%, unchanged from the previous month.
Friday, February 05, 2016 Canadian International Merchandise Trade: 8:30am Dec Canada's exports increased 3.9% in December and imports were up 1.6%. Consequently, Canada's merchandise trade deficit with the world narrowed from $1.6 billion in November to $585 million in December. Imports decreased 0.7% in November and exports increased 0.4%. Import volumes declined 1.6% while prices increased 0.9%. For exports, volumes were up 0.7% while prices declined 0.4%. As a result, Canada's merchandise trade deficit with the world narrowed from $2.5 billion in October to $2 billion in November.
Monday, February 08, 2016 Building Permits: 8:30am Dec The total value of building permits issued by Canadian municipalities rose 11.3% to $6.9 billion in December, following a 19.9% decline the previous month. The value of building permits issued by municipalities was down 19.6% from October to $6.2 billion in November, falling below the $7-billion mark for first time since May 2015.
Thursday, February 11, 2016 New Housing Price Index: 8:30am Dec --- The New Housing Price Index rose 0.2% in November, following a 0.3% increase in October.
Tuesday, February 16, 2016 Monthly Survey of Manufacturing: 8:30am Dec --- Manufacturing sales increased 1.0% to $50.8 billion in November, led by higher motor vehicle sales in Ontario.
Tuesday, February 16, 2016 CREAstats - MLS Sales: 8:30am Jan --- The Canadian Real Estate Association reported that national home sales edged lower by 0.6% in December 2015 compared to the previous month. Actual (not seasonally-adjusted) activity was up 10% compared to December 2014.
Wednesday, February 17, 2016 Canada's International Transactions in Securities: 8:30am Dec --- Canadian investors acquired a record $16.5 billion of foreign securities in November, mainly U.S. securities. Meanwhile, foreign investment in Canadian securities slowed to $2.6 billion, largely on lower acquisitions of Canadian bonds.
Thursday, February 18, 2016 Employment Insurance: 8:30am Dec --- In November, 544,200 people received regular Employment Insurance benefits, up slightly from October (+3,200 or +0.6%). On a year-over-year basis, the total number of EI beneficiaries was up 45,800 or 9.2%, the largest increase since February 2010. About two-thirds of this increase was in Alberta.
Thursday, February 18, 2016 Wholesale Trade: 8:30am Dec --- Wholesale sales rose for the first time in five months, up 1.8% to $55.9 billion in November.
Friday, February 19, 2016 Consumer Price Index: 7:00am Jan --- Inflation rose 1.6% in the 12 months to December, after increasing 1.4% in November. On a seasonally-adjusted monthly basis, the Consumer Price Index increased 0.1% in December, after increasing 0.2% in November.
Friday, February 19, 2016 Retail Trade: 8:30am Dec --- Retail sales rose 1.7% in November to $44.3 billion.
Monday, February 29, 2016 Raw Materials Price Index: 8:30am Jan --- The Raw Materials Price Index fell 5.0% in December, led by lower prices for crude energy products.
Monday, February 29, 2016 Industrial Product Price Index: 8:30am Jan --- The Industrial Product Price Index declined 0.2% in December, mainly as a result of lower prices for energy and petroleum products.
Tuesday, March 01, 2016 GDP: 8:30am Dec --- Real gross domestic product rose 0.3% in November, following a 0.5% decline in September and no growth in October.
<![CDATA[Obstacles Hindering Manufacturing in Canada]]>Wed, 10 Feb 2016 10:18:00 EST Hindering Manufacturing in Canada

Federal documents are expressing that, amid hopes that Canadian manufacturing will drive economic growth in a country reeling from low oil prices, the sector's rebirth is contending with "significant" structural obstacles.

In a recent memo addressed to Economic Development Minister Navdeep Bains, advisers point to industry hurdles that include low productivity, poor innovation, a failure to scale up and weak participation in global value chains.

The briefing note goes on to say that the fate of Canadian manufacturing will have consequences that reach beyond the industry.

Manufacturing accounts for nearly 11% of Canada's growth — as measured by gross domestic product — and employs 1.7 million people, the memo says.

The document was prepared for Bains as he took over the cabinet post in November, and could help guide Bains's decisions and also influence the federal budget, expected late next month.

The Liberal government has been exploring ways to address the economic shock of sliding commodity prices, which have hit the economy hard — particularly in the oil sector.

The slump forced the economy to contract over the first half of 2015 — in large part because non-energy sectors were very slow in picking up the slack.

Many experts had been expecting the exchange rate, which has dropped along with oil prices, to help revive exports and the manufacturing industry.

<![CDATA[Nikkei Extends Losses]]>Wed, 10 Feb 2016 07:57:00 EST, February 10, 2016

Nikkei Extends Losses

Wednesday saw sharp selloffs in Japan, Singapore, and Down Under, while the rest of Asia continued its New Year celebrations.

In Japan, the Nikkei 225 lost 372.05 points, or 2.3%, to 15,713.39, as banking and commodities stocks continued to get hammered.

The index, which has closed in the red for six of the past seven sessions, is down 24.7% from its 52-week high set last June.

The Japanese yen, which is seen as a safe-haven investment during times of market volatility, continued to strengthen, with the dollar fetching just 114.63 yen Wednesday, as the dollar-yen pair tapped its lowest levels since November 2014. In its session low, the pair traded at 114.23.

Major exporters Toyota, Nissan, Honda and Sony finished down as much as 2%

Shares of Sharp were down 6.1% in morning trade. The troubled electronics maker has been at the center of competing takeover offers from Taiwan-based Hon Hai Precision Industry, better known as Foxconn, and Japanese state-backed Innovation Network Corp. of Japan (INCJ).

According to reports, the state-backed fund is arguing that its proposed package of cash, asset sales and support from lenders could be worth one trillion yen ($8.5 billion U.S.) to Sharp, compared with Foxconn's offer of 660 billion yen, but INCJ said it wasn't increasing its offer.

Japan's major trading houses were sharply lower, with Mitsubishi Corp shedding 4.4% Itochu Corp down 4.6% and Sumitomo Corp down 4.4%. They have been facing billions of dollars in impairment due to a double whammy of emerging market downturn and a global commodities rout.

Banking stocks in Australia were swept up in the banking sell-off in Europe and the U.S., with three of Australia's so-called Big Four banks finishing in the red. NAB, ANZ and Westpac closed down as much as 1.9%

But Commonwealth Bank of Australia tacked on 1.8%; before the market open, the company reported a 4% gain in fiscal first-half cash profit, in line with expectations. Cash profit for six months ended December 31 rose to A$4.80 billion ($3.39 billion U.S.) compared with A$4.62 billion a year earlier.

However, major energy plays across Asia were mostly lower, with Santos down 2.6%, Woodside Petroleum dropping 0.9% and Inpex shedding 2.8% Tokyo-based Cosmo Energy gave up early gains to finish 1.6% lower.

Singapore's DBS Bank said in a morning note that while China's markets remain closed, risk aversion is still heightened due to selloffs in other parts of the world.

Hong Kong and South Korea will resume trading on Thursday. Mainland Chinese markets and Taiwan will be closed for the week.

In other markets;

Markets in Taiwan, Hong Kong, Shanghai, and Seoul were shuttered for holiday

In Singapore, the Straits Times Index returned from holiday to dump 41.11 points, or 1.6%, to 2,582.16

The NZX 50 in New Zealand removed 51.83 points, or 0.9%, to 6,019.49.

In Australia, the ASX 200 fell 56.4 points, or 1.2%, to 4,775.68

<![CDATA[Yellen Points Up Economic Warning Signs ]]>Wed, 10 Feb 2016 10:23:00 EST Federal Reserve Chair Janet Yellen sees warning signs ahead for her country's economy.

In prepared remarks to be delivered as part of her two-day testimony before Congress starting Wednesday, Yellen acknowledged that there were several risks to U.S. economic growth -- the cost of borrowing was rising, stock prices have declined a lot in the first few weeks of the year and the American dollar continues to strengthen against its global counterparts, concerns she says will likely play a role on the Fed's decision to raise rates this year.

Moreover, the Fed Chair emphasized that the Fed expects to have "gradual" interest rate increases. The Fed's committee meets next in mid-March. Many on Wall Street think a rate hike is unlikely.

Yellen noted the gains in the job market -- unemployment is a healthy 4.9% -- and that consumer spending remained steady. She also repeated her view that low oil prices could help consumer spending.

<![CDATA[IPO Center - TSX-V]]>Wed, 09 Dec 2015 12:00:00 EST Company Name Ticker Date BioNeutra Global Corporation BGA 09-12-2015 International Datacasting Corporation IDC 14-12-2015 Buffalo Coal Corp. BUF 18-12-2015 Orezone Gold Corporation ORE 21-12-2015 IDM Mining Ltd. IDM 30-12-2015 Percy Street Capital Corporation PSC 12-01-2016 New Global Acreage Resources Ltd. RAP.P 13-01-2016 McorpCX, Inc. MCX 03-02-2016 Nurcapital Corporation Ltd. NCL 04-02-2016 CaNickel Mining Limited CML 05-02-2016]]><![CDATA[Petrol’s Woes Push Stocks Down Further]]>Wed, 10 Feb 2016 04:30:00 EST, February 10, 2016

04:30 PM EST
Petrol’s Woes Push Stocks Down Further

Tech Stocks Climb

Canadian stocks fell for the third straight day on Wednesday as oil dropped to a three-week low in New York amid speculation that an unexpected decline in crude inventories is but temporary.

The S&P/TSX composite index slouched 96.93 points to end the day at 12,185.72

The Canadian dollar stumbled 0.34 cents to 71.78 cents U.S.

Technology stocks surged as Open Text Corp. increased $5.95, or 10%, to $65.51, after the company posted quarterly earnings that topped analysts’ estimates. Celestica Inc. gained 33 cents, or 2.6%, to $13.01.

Energy stocks fell hard as well, as Encana Corp. declined 45 cents, or 8.5% to $4.86, while Cenovus Energy Inc. dropped $1.24, or 8.4%, to $13.52. Canadian Natural Resources fell 76 cents, or 2.7%, to $27.36, and Suncor Energy was down 41 cents, or 1.4%, to $29.54.

Also faring badly were metals stocks, with Teck Resources off eight cents, or 1.5%, to $5.44.

On the other hand, gold stocks did better, in particular, Barrick Gold, up 54 cents, or 3.5%, to $16.11, and Goldcorp surged 69 cents, or 3.5%, to $20.31.


The TSX Venture Exchange slid 0.18 points to 505.31

Seven of the 13 TSX subgroups were lower, as metals and mining dropped off 3.1%, energy was 2.3% less energetic, and utilities swooned 1.9%.

The half-dozen gainers were led by information technology, moving ahead 1.5%, gold, shining brighter 1.3%, and consumer discretionary issues, up 0.6%


U.S. stocks closed mostly lower on Wednesday as investors digested remarks from Federal Reserve Chair Janet Yellen, as well another choppy trading day in oil.

The Dow Jones industrial average faded 99.64 points to 15,914.74, with Disney leading decliners and Nike leading advancers.

The S&P 500 subtracted 0.97 points to 1,851.24, with health-care leading six sectors higher and materials the greatest decliner.

The NASDAQ index hung onto gains of 14.83 points to 4,283.59, as technology stocks gained ground. Netflix climbed 2.7% and Alphabet shares moved forward 0.8%.

Earnings season continued Wednesday morning, with Time Warner and Humana, among others, reporting before the bell. Cisco Systems, Tesla Motors, Twitter and Whole Foods are scheduled to report after the bell.

Yellen delivered her remarks to Congress this morning, in which she noted that, if the U.S. economy were to disappoint, the Fed would have to reconsider its rate hike path.

Petroleum prices briefly jumped more than 3.5% after the Energy Information Administration said that U.S. oil inventories fell 0.8 million barrels, before closing 49 cents lower, or 1.8%

The oil market has been maligned by oversupply concerns throughout the year, pushing U.S. crude down about 24% this year.

Prices for the 10-year Treasury gained, lowering yields to 1.69% from Tuesday’s 1.73%. Treasury prices and yields move in opposite directions.

Oil prices faded 42 cents a barrel to $27.52 U.S.

Gold prices moved higher $6.87 to $1,196 U.S. an ounce.

<![CDATA[Stocks in Play: Wi-LAN Inc.]]>Wed, 10 Feb 2016 09:45:42 EST, February 10, 2016

09:45 AM EST - Wi-LAN Inc. : Announced that the Toronto Stock Exchange had accepted its Notice of Intention to Make a Normal Course Issuer Bid. Pursuant to the Notice, WiLAN may purchase for cancellation up to 11,762,446 issued and outstanding WiLAN common shares representing approximately 10% of the 117,624,467 Common Shares in the public float as of January 31, 2016 through the facilities of the TSX and/or alternative Canadian trading platforms. Wi-LAN Inc. (T.WIN) shares were up $0.05 at 1.67.

<![CDATA[Stocks in Play: Dundee Precious Metals Inc.]]>Wed, 10 Feb 2016 09:45:42 EST, February 10, 2016

09:46 AM EST - Dundee Precious Metals Inc. : Reported a fourth-quarter net loss attributable to common shareholders of $48.5 million ($0.34 per share) compared to net earnings attributable to common shareholders of $21.5 million ($0.15 per share) for the same period in 2014. The net loss attributable to common shareholders for 2015 was $47.0 million ($0.33 per share) compared to $58.9 million ($0.42 per share) for the same period in 2014. Dundee Precious Metals Inc. (T.DPM) shares were down $0.19 at 0.96.

<![CDATA[Stocks in Play: Wesdome Gold Mines Ltd.]]>Wed, 10 Feb 2016 09:45:42 EST, February 10, 2016

09:47 AM EST - Wesdome Gold Mines Ltd. : Announced increased Mineral Reserves, net of depletion, at its operating Eagle River and Mishi Mines located west of Wawa, Ontario. Mineral Reserves and Resources are updated as at December 31, 2015. Mineral Reserves at Eagle River and Mishi increased 12% to 431,000 ounces. Eagle River Mineral Reserves increased 13% to 300,000 ounces. Mishi surface mineable Mineral Reserves increase 8% to 131,000 ounces. The company’s major drilling program launched to include up to seven drills in 2016 to assess potential to significantly expand Mineral Resources. Wesdome Gold Mines Ltd. (T.WDO) shares were up $0.05 at 1.5.

<![CDATA[Stocks in Play: CGI Group Inc.]]>Wed, 10 Feb 2016 09:45:42 EST, February 10, 2016

09:48 AM EST - CGI Group Inc. : Has entered into a five-year contract with Preem, the largest fuel company in Sweden, to maintain a mission-critical enterprise resource planning system and also deliver a new card management solution as part of Preem's overall effort to modernize its IT environment. CGI Group Inc. (T.GIB.A) shares were up $0.58 at 57.82.

<![CDATA[Stocks in Play: TearLab Corporation]]>Wed, 10 Feb 2016 09:45:42 EST, February 10, 2016

11:42 AM EST - TearLab Corporation : Announced today that it has withdrawn the proposed underwritten public offering of its common stock, due to market conditions. TearLab Corporation (T.TLB) shares were up $0.24 at 1.17.

<![CDATA[Stocks in Play: Arena Minerals Inc.]]>Wed, 10 Feb 2016 09:45:42 EST, February 10, 2016

11:43 AM EST - Arena Minerals Inc. : Provided an exploration update for the program operated by the Company as part of the Japan Oil Gas and Mineral Exploration Company $17.5-million U.S. joint venture agreement. A total of 14,900 metres of primarily reverse circulation drilling has been completed in 88 drill holes, as part of the Phase 1 program that covers all of the areas under the JOGMEC agreement. Results have been received for an additional 45 drill holes, including assay and alteration analysis results . Mineralized intersections include 0.1% Cu over six metres (CA-RC-22) and 0.2% Cu over two metres within a broader mineralized section of 0.05% Cu over 28 metres. Arena Minerals Inc. (V.AN) shares were down $0.005 at 0.24.

<![CDATA[Stocks in Play: Balmoral Resources Ltd. ]]>Wed, 10 Feb 2016 09:45:42 EST, February 10, 2016

11:44 AM EST - Balmoral Resources Ltd. : Reported that drilling has resumed on the Company's Detour Trend Project in Quebec. The initial focus of drilling will be on testing a number of recent gold/base metal discoveries and targets on the Company's wholly owned Grasset and Fenelon properties. A second drill will begin turning on the Company's Martiniere Property, home to the Martiniere West and Bug Lake Gold Trends, as soon as weather conditions and staffing permit. Balmoral Resources Ltd. (T.BAR) shares were down $0.005 at 0.4.

<![CDATA[Stocks in Play: FirstService Corporation]]>Wed, 10 Feb 2016 09:45:42 EST, February 10, 2016

03:19 PM EST - FirstService Corporation : Announced full-year revenues were $1.26 billion, a 12% increase relative to the prior year. Adjusted EBITDA was $103.0 million, up 37%. Adjusted EPS was $1.20, up 43% versus the prior year of $0.84. All amounts in U.S. dollars. FirstService Corporation (T.FSV) shares were up $1.06 at 46.95.

<![CDATA[Stocks in Play: Nevada Copper Corp.]]>Wed, 10 Feb 2016 09:45:42 EST, February 10, 2016

03:20 PM EST - Nevada Copper Corp. : Has filed a preliminary short form prospectus with the securities regulatory authorities in each of the provinces of Canada, except Québec, in connection with a fully marketed public offering of common shares of the Company for minimum net proceeds of $15 million U.S. (approximately $22.7 million Canadian of gross proceeds). Nevada Copper Corp. (T.NCU) shares were down $0.115 at 0.495.

<![CDATA[Elite Pharmaceuticals Sees Strong Revenue Growth in Q3]]>Wed, 10 Feb 2016 03:13:00 EST, February 10, 2016

Elite Pharmaceuticals Sees Strong Revenue Growth in Q3

After three successive days of losses, U.S. equities have rebounded sharply in trading today led by the NASDAQ. The NASDAQ is gaining on the back of a sharp rebound in the technology and biotechnology sectors. Both sectors have been hammered lately.

The biotechnology sector, in particular, has come under significant selling pressure during the current selloff. Before today’s bounce back, the iShares NASDAQ Biotechnology Index (ETF) (NASDAQ:IBB) had fallen more than 26%. The IBB is up more than 3% in mid-day trading.

The sharp pullback in biotech stocks though has led to some attractive valuations. Gilead Sciences Inc. (NASDAQ:GILD), which recently reported strong fourth-quarter results and also guided for more than $30 billion in 2016 revenue, is now trading at just 7.5x earnings.

This is significantly below the average for the S&P 500. Another large cap biotechnology company that is trading at low multiples is Amgen Inc. (NASDAQ:AMGN). Although not as cheap as Gilead, Amgen is still trading at a discount to the S&P 500. AMGN currently trades at P/E ratio of 16.20x. AMGN also has a dividend yield of 2.72%.

In the pharmaceutical space, Merck & Co. Inc. (NYSE:MRK) is now yielding 3.67%. Rival Pfizer Inc. (NYSE:PFE) is also offering an attractive yield of 4.02%.

There are also opportunities in the small and micro-cap space. Elite Pharmaceuticals Inc. (OTCQB:ELTP), a Northvale, New Jersey-based specialty pharmaceutical company, is currently trading at a P/E ratio of 18.77. ELTP owns an abuse deterrent technology, ART(TM), which is a multi-particulate capsule containing an opioid agonist in addition to naltrexone used primarily in the management of alcohol dependence and opioid dependence.

This morning, Elite Pharmaceuticals announced its results for the quarter ended December 31, 2015. For the December quarter (the company’s third quarter), consolidated revenue totaled $2.2 million, representing an increase of 61% on a year-over-year basis.

The increase in revenue was driven by continued growth of ELTP’s niche generic product lines. During the December quarter, the company invested another $3.2 million in the development of SequestOx(TM), the first product in ELTP’s line of abuse-deterrent opioids.

Commenting on the Q3 results, Nasrat Hakim, President and CEO at Elite Pharmaceuticals, said it was a special quarter for ELTP as the company successfully completed the studies for its first abuse deterrent pioid SequestOx™ and in January submitted its first NDA.

Shares of ELTP are down close to 5% on the news; however the stock is up substantially since its October lows.

<![CDATA[Dollar Loses Some Juice]]>Wed, 10 Feb 2016 09:51:07 EST
Experts expect a range today of $1.3793 to $1.3933 Canadian

The euro is trading lower today, driven by weak fundamental data and general market sentiment. French and Italian industrial production both came in well below expectations. French industrial production dropped 1.6% while the market was looking for an increase of 0.2% while Italian industrial production dropped 0.7% while the market was looking for an increase of 0.3%.

Observers expect a range today of $1.5500 to $1.5725 Canadian

The pound sterling is outperforming today despite weaker than expected manufacturing and industrial production data. Manufacturing production dropped 0.2% while industrial production dropped 1.1%.

The Australian and New Zealand dollars are both trading higher today on improved market sentiment. The ongoing recovery in oil prices and equity markets helped to boost the commodity currencies. On the data front, Australian new home sales increased 6% in December from -2.7% in the previous month.

Data Releases

CAD: No data today

AUD: MI Inflation Expectation

EUR: French Industrial Production, Italian Industrial Production

GBP: Manufacturing Production, Industrial Production, NIESR GDP Estimate

JPY: Bank Holiday

NZD: Business NZ Manufacturing Index

USD: Crude Oil Inventories, Federal Budget Balance, 10-y Bond Auction]]>
<![CDATA[Top Analyst Actions: DF, TXTR, AKAM, PRO, RDY]]>Wed, 10 Feb 2016 12:56:27 EST<![CDATA[ARM Holdings (ARMH) Down After Tuesday Gain]]>Wed, 10 Feb 2016 11:42:00 EST<![CDATA[Solaredge Technologies (SEDG) Slump Continues]]>Wed, 10 Feb 2016 11:39:48 EST<![CDATA[ Walt Disney (DIS) Falls on Q1 Numbers]]>Wed, 10 Feb 2016 11:37:00 EST<![CDATA[Time Warner (TWX) Slides on Q4 Earnings]]>Wed, 10 Feb 2016 11:35:44 EST<![CDATA[SolarCity (SCTY) Tumbles on Weak Forecast]]>Wed, 10 Feb 2016 11:31:38 EST<![CDATA[Paypal Holdings (PYPL) Gains After Tuesday Loss]]>Wed, 10 Feb 2016 11:29:27 EST<![CDATA[Central European Media Enterprises (CETV) Recovers from Tuesday Drop]]>Wed, 10 Feb 2016 11:26:00 EST<![CDATA[FireEye (FEYE) Leaps on Upgrade]]>Wed, 10 Feb 2016 11:24:00 EST<![CDATA[Peabody Energy (BTU) Hikes on EPA Hold]]>Wed, 10 Feb 2016 11:21:13 EST