Saudi Arabia Slashes Oil Prices Again as Asian Demand Weakens
Saudi Arabia has slashed the official selling prices of its crude loading in July to customers in Asia, Europe, and the United States, in a widely expected second consecutive monthly cut amid weakening demand and narrowing spot Middle East crude premiums.
Saudi oil giant Aramco has reduced the price of its flagship Arab Light crude loading for Asia in July by $6 per barrel, setting it at a premium of $9.50 per barrel over the average Oman/Dubai prices, the benchmark for Middle East oil, a pricing document seen by Reuters and Bloomberg showed on Monday.
The price reduction was expected by Asian refiners, who had anticipated the July price of Arab Light for Asia to be slashed by $3 to $8 per barrel compared to the official selling price (OSP) in June. Refiners and traders in a Bloomberg survey expected an average price cut of $5 per barrel.
Saudi Arabia, the world’s top crude oil exporter, slashed the OSPs of all other grades to Asia by $6 per barrel, too, amid slower demand in China and other Asian buyers, and a drop in the spot premiums for Middle East oil in recent weeks.
The price of Saudi crude loading for the Mediterranean and Northwest Europe was slashed by $10 per barrel over the respective benchmark, ICE Brent, while Saudi crude going to the U.S. in July would cost $2 per barrel less than the ASCI benchmark compared to June.
The Saudi price cut was expected to follow a weakening spot market and spot trades in May. Both the cash Dubai premium to swaps and the spot premium for Oman crude slid in May, suggesting tepid spot market demand.
The July price cut is the second consecutive monthly decline in Saudi oil prices versus benchmarks.
Arab Light crude loading for Asia in June is priced at $15.50 per barrel above the Oman/Dubai average, down by $4 a barrel compared to the record high $19.50 premium for May.
By Tsvetana Paraskova for Oilprice.com
EHang Hikes on Share Repurchase
EHang Holdings Limited (NASDAQ: EH) shares grew sharply. EHang, the world’s leading advanced air mobility technology platform company, today announced that the Company’s Board of Directors has approved a Share Repurchase Program, pursuant to which the Company may repurchase up to US$30 million of its American Depositary Shares or ordinary shares over the next 12 months.
CEO Huazhi Hu commented, “This Share Repurchase Program underscores our confidence in EHang’s long-term growth potential as well as our capability in continuously delivering value to our shareholders. Looking ahead, we remain focused on advancing our leadership in providing safe, pilotless, and sustainable eVTOL solutions in the Advanced Air Mobility sector, while maintaining a disciplined approach to capital allocation to ensure sustainable growth and profitability.”
The timing and amount of any share repurchases under the Share Repurchase Program will be determined by the Company’s management at its discretion based on ongoing assessments of price, trading volume and general market conditions, along with the company’s working capital requirements, general business conditions and other factors. The company expects to fund repurchases made under this program mainly from its existing cash balance.
EH shares acquired 59 cents, or 7.5%, to $8.49.
|
DATE |
STATISTIC | FOR | CURRENT MONTH | PREVIOUS MONTH |
| Monday, June 1, 2026 | Markit Canada Manufacturing PMI 9:30 a.m. | May | The S&P Global Canada Manufacturing PMI remained in growth territory for a second straight month at 52.9 in May 2026, down slightly from 53.3 in April. | The S&P Global Canada Manufacturing PMI rose to 53.3 in April 2026 from 50.0 in March, marking the strongest improvement in business conditions since June 2022. |
| Friday, June 5, 2026 | IVEY Purchasing Managers Index: 10:00am | May | The index rose to 58.2 in May, from 57.7 in April, and 48.9 in May 2025 | The index rose to 57.7 in April, from 49.7 in March and 47.9 in April 2025 |
| Friday, June 5, 2026 | Labour Force Survey: 8:30am | May | Employment increased by 88,000 (+0.4%) in May and the employment rate rose 0.2 percentage points to 60.7%. The unemployment rate fell 0.3 percentage points to 6.6%. | Employment was little changed in April (-18,000; -0.1%) and the unemployment rate increased by 0.2 percentage points to 6.9%, as more people searched for work. |
| Tuesday, June 9, 2026 | Canadian International Merchandise Trade: 8:30am | April | --- | In March, Canada's merchandise exports posted a strong increase, rising 8.5%, while imports fell 1.6%. As a result, Canada's merchandise trade balance with the world went from a deficit of $5.1 billion in February to a surplus of $1.8 billion in March. This is the first trade surplus since September 2025. |
| Wednesday, June 10, 2026 | BoC Interest Rate Decision: 9:45am | June | --- | The Bank of Canada (BoC) held its key interest rate at 2.25%. The Bank Rate remains at 2.5%, while the deposit rate is 2.2%. |
| Thursday, June 11, 2026 | Building Permits: 8:30am | April | --- | In March, the total value of building permits issued in Canada increased $1.3 billion (+10.3%) to $13.5 billion |
| Friday, June 12, 2026 | New Motor Vehicle Sales: 7:30am | April | --- | In March, 176,500 new motor vehicles were sold in Canada, decreasing 6.6% from March 2025. In dollar terms, sales decreased 3.6% in March 2026 compared with one year earlier. Over the same period, the number of new passenger cars sold fell by 4.3%, while the number of new trucks sold saw a decline of 6.9%. |
| Monday, June 15, 2026 | Housing Starts: 8:15am | May | --- | The trend in housing starts increased by 3.2% in April with 256,777 units. |
| Monday, June 15, 2026 | Wholesale Trade: 8:30am | April | --- | Wholesale sales (excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain) rose 1.9% in March. |
| Monday, June 15, 2026 | Monthly Survey of Manufacturing: 8:30am | April | --- | Manufacturing sales rose 3.0% in March, driven largely by increased sales of petroleum and coal products and transportation equipment. On a quarterly basis, total sales edged up 0.1% in the first quarter of 2026. |
| Tuesday, June 16, 2026 | CREA MLS Sales: 8:30am | May | --- | The number of home sales recorded over Canadian MLS® Systems was up 0.7% on a month-over-month basis in April 2026. |
| Tuesday, June 16, 2026 | Canada's International Transactions in Securities: 8:30am | April | --- | Foreign investors purchased $4.6 billion of Canadian securities in March, the lowest monthly investment since the beginning of 2026. Meanwhile, Canadian investors acquired $3.9 billion of foreign securities, well below the monthly average investment of $16.7 billion during the previous four months. |
| Thursday, June 18, 2026 | Raw Materials Price Index: 8:30am | May | --- | The index gained 2.6% month over month and rose 31.6% year over year. |
| Thursday, June 18, 2026 | Industrial Product Price Index: 8:30am | May | --- | The Industrial Product Price Index rose 2.0% month over month in April and increased 11.4% year over year. |
| Friday, June 19, 2026 | New Housing Price Index: 8:30am | May | --- | April’s new housing price index decreased 0.4%, compared to a drop in March of 0.2%. |
| Friday, June 19, 2026 | Retail Trade: 8:30am | April | --- | Retail sales increased 0.9% to $72.7 billion in March. Sales increased in four of nine subsectors, led by gasoline stations and fuel vendors. |
| Monday, June 22, 2026 | Consumer Price Index: 8:30am | May | --- | The Consumer Price Index (CPI) increased 2.8% year over year in April, up from an increase of 2.4% in March. On a seasonally adjusted monthly basis, the CPI rose 0.3% in April. |
| Thursday, June 25, 2026 | Payroll Employment, Earnings and Hours: 8:30am | April | --- | The number of employees receiving pay and benefits from their employer edged down by 31,800 (-0.2%) in March, bringing the cumulative decline since February to 69,900 (-0.4%). |
| Tuesday, June 30, 2026 | GDP: 8:30am | April | --- | Real gross domestic product (GDP) edged down 0.1% in March, partially offsetting February's increase (+0.2%) and driven by contractions in goods-producing industries. |
The Bank of Canada is widely expected to hold interest rates at current levels at its next policy meeting on June 10.
Economists surveyed by Reuters (TRI) overwhelmingly expect the Bank of Canada to keep its benchmark overnight interest rate at its current level of 2.25%.
It would be the fifth consecutive time that Canada’s central bank has decided to take no action on interest rates.
Futures markets are currently pricing in a 95% chance that there’s no change to Canada’s interest rates on June 10.
At its last meeting in April, Bank of Canada Governor Tiff Macklem said that “monetary policy may need to be nimble” as the economy adjusts to the war in Iran and higher energy prices.
Since that last meeting, Canada’s economy has entered a recession after registering no growth in the past two quarters.
The economic weakness makes it difficult for the Bank of Canada to raise interest rates even as energy prices spike and cause inflationary pressures throughout the country.
The most recent inflation report from Statistics Canada showed that consumer prices jumped the most in nearly two years.
Higher gas prices driven by the war in Iran pushed Canada’s annual inflation rate up to 2.8% in April. The Bank of Canada targets inflation at a 2% annualized rate.
In 2024 and 2025, the Bank of Canada lowered interest rates more than half a dozen times as evidence emerged that inflation had been declining.
The last interest rate cut occurred in October 2025, when the central bank lowered its overnight rate by 25 basis points to 2.25%.
Asia Takes Drubbing
Asia-Pacific markets ended the day lower on Monday, with South Korea’s benchmark Kospi leading declines.
In Japan, the Nikkei 225 cratered 2,563.52 points, or 3.9%, to close the week’s first session at 64,024.60
In Hong Kong, the Hang Seng dropped 304.89 points, or 1.2%, to 24,657.06.
In other markets;
In Shanghai, the CSI 300 index docked 103.28 points, or 2.1%, to 4,713.64.
In Taiwan, the Taiex plummeted 1,568.16 points, or 3.5%, to 43,502.78.
In Korea, the Kospi index shed 676.18 points, or 8.3%, to 7,484.41.
In Singapore, the Straits Times 50 index subtracted 86.29 points, or 1.7%, to 4,964.67.
In New Zealand, the NZX 50 dropped 123.73 points, or 0.9%, to 13,038.24.
Australian markets were closed for holiday.
The Paris-based intergovernmental organization has lowered its global economic growth forecast, warning that the economic damage from the Iran war is likely to worsen.
In its June Economic Outlook, the OECD says that global growth is now expected to slow from 3.4% in 2025 to 2.8% in 2026, before recovering to 3.1% in 2027.
The new outlook is dependant on the current energy price shock from the Iran war easing by the middle of this year.
In a worse-case scenario, in which the disruptions to shipping and energy infrastructure continue into 2027, global growth could fall to 2.1% in 2026 and 1.8% in 2027.
That would tip some economies into, or close to, a recession, warns the OECD.
The OECD says that while energy shortages could weigh heavily on Asian economies, countries such as Japan and South Korea have large reserves and can withstand a lack of oil.
However, other countries, such as India, are now rationing the use of gasoline as they face worsening fuel shortages.
Also in a worse-case scenario, global inflation is expected to rise by 0.4 percentage points in 2026 and 1.3 percentage points in 2027.
Higher energy prices and the inflation situation is likely to further complicate the challenge facing central banks that are also grappling with weaker economic growth.
The OECD concludes its latest outlook by highlighting the need to strengthen global supply chains and diversify energy supplies.
16:24 PM EST
TSX Gains as Markets Recover from Friday
Ivanhoe, Magellan Featured
Canada's main stock index rose on Monday, as signs of easing tensions in the Middle East lifted sentiment after Iran said its first wave of attacks on Israel had ended, raising hopes of a potential de-escalation in the wider U.S.-Iran war.
The TSX Composite Index recovered 59.57 points, off its highs of the day, to wind up Monday at 34,473.02.
The Canadian dollar dipped 0.04 cents to 71.66 cents U.S.
The materials group, which includes stocks of metal miners, gained with 5N Plus roaring ahead $1.87, or 4.6%, to $42.72, while K92 Mining added $1.03, or 4.7%, to $23.12, and Ivanhoe Mines up 34 cents, or 3.1%, to $11.49.
Industrials rose with Magellan Aerospace climbing $2.06, or 6.5%, to $34.02, and AirBoss of America up 39 cents, or 5.8%, to $7.09.
Iran's military announced on Monday that its first wave of attacks on Israel since a ceasefire announced in April was now over, although it threatened to resume the strikes if Israel continued attacks on Lebanon.
ON BAYSTREET
The TSX Venture Exchange ducked back 9.44 points, or 1%, to 947.17.
All but three of the 12 TSX subgroups were down, weighed most by health-care, sliding 3%, consumer staples, off 1.4%, and utilities, dipping 1%.
The three gainers proved to be energy, up 1.5%, information technology, ahead 1%, and financials, better by 0.4%.
ON WALLSTREET
The S&P 500 and NASDAQ Composite were higher on Monday as chip stocks rebounded from Friday’s rout and President Donald Trump tried to maintain a fragile ceasefire despite Iran and Israel trading strikes.
The Dow Jones Industrials moved below the breakeven level 80.77 points to 50,786.01.
The S&P 500 moved up 21.94 points to 7,405.68.
The tech-heavy NASDAQ reasserted itself 220.23 points, to 25,929.66, following Friday’s decline of 4.2%, its worst drop since April 2025 as investors took profits on chip stocks on concern the shares had gone too far given the uncertain economic backdrop.
Shares of Micron Technology, the memory chipmaker that’s led the latest leg of the bull market, were up 10% after falling 13% on Friday. Shares of Nvidia and Broadcom were also higher.
In the week ahead, investors will be focused on inflation data and the public debut of Elon Musk’s SpaceX on Friday. The offering is expected to be one of the largest in Wall Street history and could be the market’s biggest test yet of the AI valuation narrative.
Oil prices gained as Israel carried out a “large-scale strike on strategic defense systems” on Monday, according to the IDF X account, in response to Iran attacks.
But Trump said Israel and Iran “are looking to do an immediate ceasefire” and that negotiations were proceeding despite the attacks. Trump earlier ordered that Iran and Israel “must immediately stop” attacking.
Iran’s Ministry of Foreign Affairs later told reporters Monday the country’s military has ended military operations against Israel. However, Iran warned it would restart hostilities if Israel continues attacking Lebanon.
Prices for the 10-year Treasury sank, raising yields to 4.57% from Friday’s 4.54%. Treasury prices and yields move in opposite directions.
Oil prices gained 81 cents to $91.35 U.S. a barrel.
Gold prices lost $12.60 to $4,352.70 U.S. an ounce.
18:05 PM EST - Miivo Holdings Corp. : Announced that it has engaged Winning Media LLC and Triomphe Holdings Ltd. dba Capital Analytica to provide investor awareness, communications and marketing services to the Company, subject to applicable regulatory requirements. The Company has entered into an Investor Relations and Digital Marketing Services Agreement dated June 8, 2026 with Winning Media LLC, a Houston, Texas-based investor relations and digital marketing firm. Pursuant to the agreement, Winning Media will provide investor relations, digital marketing, market awareness, communications and promotional services designed to increase awareness of the Company among investors and the broader capital markets community. (O.MIVOF) shares were unchanged at 0.41.
Why So Many Small Businesses Fail—and How AI Could Help Prevent It
Distributed on behalf of Miivo Holdings Corp.
About half of all small and medium-sized enterprises (SMEs) fail within their first five years of operation. In fact, according to the U.S. Bureau of Labor Statistics, roughly 20% of small businesses close during their first year alone. By the fifth year, that figure rises to nearly 50%, and after a decade, nearly two-thirds of SMEs have ceased operations, according to data cited by Lendio. The reasons are often familiar: poor cash flow management, insufficient market demand, flawed pricing strategies, and operational issues that go unnoticed until they become critical. Fortunately, companies such as Miivo Holdings Corp. (TSXV: MIVO) (OTCQB: MIVOF) (FSE, L7S), Nvidia (NASDAQ: NVDA), Advanced Micro Devices (NASDAQ: AMD), Microsoft (NASDAQ: MSFT), and ServiceNow (NYSE: NOW), may be able to help.
Unfortunately, a growing number of SMEs lack the tools and resources needed to identify warning signs before they threaten the company's survival. That’s where companies, like Miivo Holdings, for example, can help the most. In fact, with artificial intelligence, Miivo’s platform is delivering the necessary enterprise-grade insights and analytics that can help SMEs make more informed decisions, improve performance, and potentially reduce the risk of business failure.
Miivo Also Just Announced Investor Relations and Marketing Engagements
Miivo Holdings Corp. just announced that it has engaged Winning Media LLC and Triomphe Holdings Ltd. dba Capital Analytica to provide investor awareness, communications and marketing services to the Company, subject to applicable regulatory requirements.
The Company has entered into an Investor Relations and Digital Marketing Services Agreement dated June 8, 2026 with Winning Media LLC, a Houston, Texas-based investor relations and digital marketing firm.
Pursuant to the agreement, Winning Media will provide investor relations, digital marketing, market awareness, communications and promotional services designed to increase awareness of the Company among investors and the broader capital markets community.
The agreement has an initial term of three months commencing upon acceptance by the TSX Venture Exchange. As consideration for the services, the Company will pay Winning Media a cash fee of US$150,000. No stock options or other securities are being granted in connection with the engagement. To the knowledge of the Company, Winning Media and its principals are arm's length to the Company and do not presently own any securities of the Company.
The Company has entered into a Consulting Services Agreement dated June 8, 2026 with Triomphe Holdings Ltd. dba Capital Analytica, a Nanaimo, British Columbia-based communications and capital markets consulting firm.
Capital Analytica will provide capital markets consulting, social media consultation, social sentiment reporting, social engagement reporting, dissemination of news releases, discussion forum monitoring and corporate video dissemination services.
The agreement has an initial term of six months and provides for cash compensation of C$150,000, payable in two installments of C$75,000. No stock options or other securities are being granted in connection with the engagement.
To the knowledge of the Company, Capital Analytica and its principals are arm's length to the Company and do not presently own any securities of the Company.
Other related developments from around the markets include:
Nvidia and SK hynix announced a multiyear technology partnership to advance next-generation memory for the global AI factory buildout and accelerate semiconductor design and manufacturing. The agreement builds on years of deep co-engineering collaboration that has powered some of the world’s most advanced AI computing platforms.” AI factories are the engines of the next industrial revolution, and advanced memory is essential to their performance,” said Jensen Huang, founder and CEO of NVIDIA. “SK hynix has been an extraordinary partner to NVIDIA, playing a central role in delivering advanced memory technologies for NVIDIA AI computing platforms. Together, we will codevelop the next generation of memory for AI factories and support the accelerating global expansion of AI infrastructure — from frontier model training to agentic and physical AI.”
Advanced Micro Devices announced that its next-generation AMD EPYC processor, codenamed “Venice,” is ramping production in Taiwan on TSMC’s advanced 2nm process technology, with future plans to ramp production at TSMC’s Arizona fabrication facility. The milestone in the execution of the AMD data center CPU roadmap demonstrates continued progress toward delivering the leadership performance and energy efficiency required for next-generation cloud, enterprise and AI infrastructure. “Venice” is the first high-performance computing (HPC) product in the industry to enter production on TSMC’s advanced 2nm process technology. “Ramping ‘Venice’ on TSMC 2nm process technology marks an important step forward in accelerating the next generation of AI infrastructure,” said Dr. Lisa Su, chair and CEO. “As AI and agentic workloads scale rapidly, customers need platforms that can move from innovation to production faster. Our deep partnership with TSMC is helping AMD bring leadership compute technologies to market with the speed and scale required to meet this moment.”
Microsoft and Mayo Clinic announced a strategic collaboration to develop and deploy a frontier AI model designed specifically for healthcare, making Mayo Clinic's knowledge, expertise and integrated model of care available to more people when and where they need it. The collaboration combines Mayo Clinic's global healthcare expertise, de-identified clinical health data and longitudinal insights with Microsoft's advanced AI, cloud, engineering and superintelligence capabilities. Together, the organizations are developing a frontier AI model capable of supporting the broadest scope of clinical reasoning and healthcare use cases. The model is designed to synthesize diverse clinical data to support earlier diagnoses, more personalized treatment decisions and better patient outcomes. By expanding access to actionable insights and supporting care teams in complex decision-making, the collaboration aims to address some of healthcare's most challenging problems.
ServiceNow, the AI control tower for business reinvention, and Amazon Web Services (AWS) today announced a platform expansion as companies rapidly deploy and scale agentic AI across the enterprise, which follows a significant milestone of ServiceNow AWS Marketplace transactions surpassing $1 billion. The expansion introduces a governance architecture for mutual customers built on ServiceNow AI Control Tower and Amazon Bedrock AgentCore; new AI agent integrations for enterprise security, IT operations, and telecommunications that detect, act, and resolve issues; and a native developer integration that lets teams build and deploy ServiceNow applications directly from Kiro, the AWS agentic integrated development environment (IDE), so that developers can move from idea to impact faster. ServiceNow’s $1 billion milestone reflects something larger than a commercial threshold. Enterprises are consolidating their AI infrastructure around platforms they trust, and increasingly, that means combining cloud and foundation model services with orchestration, governance, and workflow execution. ServiceNow’s platform expansion with AWS is a direct response to that demand: customers who have already committed to both platforms now have a single, connected architecture to deploy and scale AI. The AI workloads they've already built and deployed on AWS can now be governed, audited, and wired into the ServiceNow workflows that run their business, without rebuilding anything from scratch.
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for Miivo Holdings Corp. by Miivo Holdings Corp. We own ZERO shares of Miivo Holdings Corp. Please click here for full disclaimer.
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- Oil prices rise on renewed Iran/Israel hostilities.
- US dollar giving back European gains in early NY trading.
USDCAD open: 1.3947, overnight range 1.3936-1.3954, close 1.3939, WTI 94.77, Gold 4,292.62
The Canadian dollar got spanked following the stronger than expected US jobs report on Friday and it has yet to recover. Traders ignored the Canadian employment data which was also surprisingly strong, because the domestic results will have no bearing on Wednesday’s BoC rate decision while the US numbers suggest a hawkish bias to the Fed statement.
WTI oil prices rose to 95.38 from 9153 after Iran and Israel renewed hostilities. Opec announced another 188,000-production increase beginning July but the news was ignored
Friday's blockbuster Non-farm Payrolls print of 172,000 new jobs has flipped the rate narrative on its head. Rather than debating when the Fed cuts, markets are now pricing in the possibility of a hike, with FedWatch tool odds for a rate increase before year-end sitting at 67%. Those probabilities will move sharply higher if this week's US inflation data comes in above consensus.
Risk assets took the news badly. The equity selloff that began Friday extended into the overnight session as investors and the tech sector stepped back from their recent infatuation. Treasury yields climbed, crude pushed higher, and gold shed 0.72%, bringing its one-month loss to 8.47%.
The week opened on a sour note across Asian bourses. Tokyo's Topix dropped 2.45% and the Hang Seng gave back 1.22%, while the Australian ASX 200 was sidelined by the King's Birthday holiday.
As of 7:30 am, European bourses are mixed. The German DAX has lost 0.29%, the French CAC 40 is flat and the FTSE 100 is up 0.27%. S&P 500 futures are up 0.64%, the 10-year Treasury yield stands is 4.543%, and the DXY is 99.93.
EURUSD chopped in a 1.1500-1.1540 range overnight, after cratering on Friday after the US jobs data. The ECB is expected to bump rates on Thursday, though the fundamental backdrop is softening. German Factory Orders contracted 3.8% in April after a 4.5% gain in March.
GBPUSD consolidated in a 1.3306-1.3350 range, due divergent BoE and Fed interest rate outlooks. GBPUSD gains were limited following comments by BoE policymaker Alan Taylor, who said he sees no case for pushing UK rates higher.
USDJPY clawed back the entirety of Friday's post-NFP decline to trade in a 159.85-160.35 band, lifted by the rise in US Treasury yields and firmer oil prices. Traders do not appear to be overly concerned that the BoJ could raise rates next week.
AUDUSD held a 0.7024-0.7065 band as the currency consolidated last Friday's losses in subdued conditions. Turnover was light with Australian markets closed for the long weekend
There US and Canadian data calendars are empty.
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.
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.
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.
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.
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.
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
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
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.
“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.
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