Baystreet.ca RSS Feed http://www.baystreet.ca/rss/MasterRSS.aspx en-us Copyright (c) 2021 Baystreet.ca Inc. All rights reserved. 7/30/2021 4:18:16 AM <![CDATA[Greenlane Renewables "BUY"]]>Thu, 29 Jul 2021 11:59:00 ESThttps://www.baystreet.ca/articles/analyst_ratings.aspx?69037<![CDATA[Global Gasoline Demand Could Flatten As Delta Variant Spreads]]>Thu, 29 Jul 2021 07:10:00 ESThttps://www.baystreet.ca/articles/commodities.aspx?id=4866Thursday, July 29, 2021


Global Gasoline Demand Could Flatten As Delta Variant Spreads


Resurging COVID infections in many major oil-consuming markets, including the United States, Europe, and Southeast Asia, could stagnate the recovery in road fuel consumption globally in the coming weeks, analysts tell Reuters.

Estimates from the United States point to record gasoline consumption for 2021 this past week, but analysts fear that the rising number of Delta variant infections could put the brakes on the demand rebound well before the summer travel season ends.

According to GasBuddy data, weekly U.S. gasoline demand in the week to July 18 set a new 2021 record. American gasoline demand jumped by 2.3 percent from the prior week and was up by 3.1 percent compared to the four-week average. U.S. weekly demand to July 18 was 0.6 percent higher than the week ahead of July 4, the week of June 27, according to Patrick De Haan, head of petroleum analysis for GasBuddy.

U.S. gasoline demand on July 26 was the second-highest gasoline demand Monday of 2021, rising 1.4 percent from the prior Monday and at 1.3 percent above the average of the last four Mondays. It was 3.5 percent below July 5, the Monday many Americans returned from the July 4 weekend, De Haan noted.

While U.S. gasoline demand holds for now, signs are emerging it is flattening, as is demand in Europe.

In Southeast Asia, cases are surging in Indonesia, the biggest importer of gasoline in Asia, as well as in Malaysia and Thailand. Indonesia has extended its restrictions on mobility to early August.

"We’re still very much actively dealing with new cases here in the U.S. and also abroad, and that is putting greater pull on demand and what was originally anticipated for this recovery process in the middle of the summer for this year," Devin Gladden, manager of federal affairs at American Automobile Association, told Reuters.

By Tsvetana Paraskova for Oilprice.com

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<![CDATA[Nikola Founder Busted on Fraud Charges ]]>Thu, 29 Jul 2021 10:08:00 ESThttps://www.baystreet.ca/articles/techinsider.aspx?id=3059Thursday, July 29, 2021

Nikola Founder Busted on Fraud Charges


Trevor Milton, founder of Nikola Corp. (NASDAQ:NKLA), has been charged with three counts of fraud by the U.S. Attorney’s Office in Manhattan in connection with their investigation into the embattled electric vehicle start-up.

Federal prosecutors accused Milton, who resigned as chairman in September, of making deceptive and false claims regarding “nearly all aspects of the business,” according to a grand jury indictment unsealed Thursday.

Prosecutors said Milton built an intricate scheme designed to pump up the company’s stock for his own gain by lying about the company’s products, technology and future sales prospects.

They accuse him of using Nikola’s deal to go public via a special purpose acquisition company, or SPAC, to target amateur retail investors, some of whom lost hundreds of thousands of dollars.

NKLA shares dived $1.32, or 9.3%, to $12.87.

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<![CDATA[Economic Calendar]]>Fri, 30 Jul 2021 04:18:16 ESThttps://www.baystreet.ca/articles/econ_calendar.aspx?id=18125July 2021
 

DATE

STATISTIC FOR CURRENT MONTH PREVIOUS MONTH
Friday, July 2, 2021 Markit Canada Manufacturing PMI: 9:30 am June The headline PMI registered 56.5 in June, down from 57.0 in May, to signal the twelfth consecutive expansion in operating conditions. The latest uptick was the softest since February, but was sharp in the context of the historical average. The PMI registered 57.0 in May, down fractionally from 57.2 in April, to signal the fifth-strongest growth in operating conditions in the survey to date.
Friday, July 2, 2021 Building Permits: 8:30am May Following four consecutive months of reaching new highs, the total value of building permits dropped a record $1.6 billion (-14.8%) to $9.5 billion in May. The total value of building permits remained at historically high levels in April 2021, edging down 0.5% to $11.1 billion, following the record set in March.
Friday, July 2, 2021 Canadian International Merchandise Trade: 8:30am May In May, Canada's merchandise imports increased 2.1%, while exports fell 1.6%. As a result, Canada's merchandise trade balance widened, moving from a surplus of $462 million in April to a deficit of $1.4 billion in May. In April, Canada's merchandise imports fell 4.7%, while exports decreased 1.0%. Both declines were attributable in large part to significant decreases in trade of motor vehicles and parts. Canada's merchandise trade balance went from a deficit of $1.3 billion in March to a surplus of $594 million in April.
Wednesday, July 7, 2021 IVEY Purchasing Managers Index: 10:00am June The index progressed to 71.9 in June, from 64.7 in May, and much better than the 58.2 reading for June 2020 The index progressed to 64.7 in May, from 60.6 in April, and towering above the 39.1 reading in May 2020
Friday, July 9, 2021 Labour Force Survey: 8:30am June Employment rose by 231,000 (+1.2%) in June, following a cumulative decline of 275,000 over the previous two months. Employment fell by 68,000 (-0.4%) in May, adding to a decline of 207,000 in April. The unemployment rate was little changed at 8.2%.
Wednesday, July 14, 2021 BoC Interest Rate Decision: 10:00am July 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%. The Bank of Canada maintained interest rates at 0.25%, as expected, the same perch at which it’s been since March 2020. The Bank Rate stays at 0.5%, and the deposit rate at 0.25%.
Wednesday, July 14, 2021 Monthly Survey of Manufacturing: 8:30am May Manufacturing sales declined 0.6% in May, on lower sales in 11 of 21 industries led by the machinery, chemical and fabricated metal product industries. Manufacturing sales fell 2.1% to $57.1 billion in April, on lower sales in 11 of 21 industries. Much of the decline was attributable to lower sales of transportation equipment and petroleum and coal products.
Thursday, July 15, 2021 CREAstats - MLS Sales: 8:30am June National home sales declined by 8.4% on a month-over-month basis in June. Actual (not seasonally adjusted) activity was up 13.6% year-over-year. Home sales recorded over Canadian MLS® Systems fell by 7.4% month-over month in May 2021, building on the 11% decline recorded in April. Activity nonetheless remains historically high, but in contrast to March’s all-time record it is now running closer to levels seen in the second half of 2020.
Friday, July 16, 2021 Housing Starts: 8:15am June The trend in housing starts was 293,567 units in June, up from 284,837 units in May, according to Canada Mortgage and Housing Corporation. The trend in housing starts was 280,779 units in May 2021, up slightly from 278,462 units in April 2021, according to Canada Mortgage and Housing Corporation. This trend measure is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.
Friday, July 16, 2021 Canada's International Transactions in Securities: 8:30am May Foreign investors acquired $20.8 billion in Canadian securities in May, mainly in the form of government debt securities. At the same time, Canadian investors increased their holdings of foreign securities by $10.7 billion, led by acquisitions of U.S. shares. Canadian investment in foreign securities totalled $18.6 billion in April, mainly in purchases of US securities. Meanwhile, foreign investment in Canadian securities totalled $10.0 billion, led by acquisitions of Canadian bonds. As a result, international transactions in securities generated a net outflow of funds from the Canadian economy of $8.7 billion.
Friday, July 16, 2021 Wholesale Trade: 8:30am May Sales of wholesale products rose 0.5% in May to $72.2 billion, setting a record high for the sector for a third consecutive month. Sales by Canadian wholesalers rose 0.4% in April, the third increase in the last four months
Wednesday, July 21, 2021 New Housing Price Index: 8:30am June The growth in new home prices slowed for a second month in a row, rising by 0.6% in June, the smallest increase in six months. New home prices increased 1.4% in May nationally, with prices up in 19 of the 27 census metropolitan areas surveyed.
Friday, July 23, 2021 Retail Trade: 8:30am May Retail sales declined 2.1% to $53.8 billion in May. Retail sales were down 5.7% to $54.8 billion in April.
Wednesday, July 28, 2021 Consumer Price Index: 8:30am June CPI rose 3.1% on a year-over-year basis in June, down from a 3.6% gain in May. On a seasonally adjusted monthly basis, the CPI rose 0.1% in June. The Consumer Price Index (CPI) rose 3.6% on a year-over-year basis in May, up from a 3.4% gain in April. On a seasonally adjusted monthly basis, the CPI rose 0.4% in May.
Thursday, July 29, 2021 Payroll Employment, Earnings and Hours: 8:30am May Payroll employment fell by 257,500 (-1.6%) in May, with much of the decline concentrated in service industries in Ontario. The number of employees receiving pay or benefits from their employer—measured in SEPH as payroll employment—increased by 166,900 (+1.0%) in April.
Friday, July 30, 2021 Raw Materials Price Index: 8:30am June --- The index increased 3.2% on a monthly basis in May and was up 40.1% year over year.
Friday, July 30, 2021 Industrial Product Price Index: 8:30am June --- The index rose 2.7% month over month in May and was up 16.4% compared with May 2020.
Friday, July 30, 2021 GDP: 8:30am May --- Real gross domestic product grew for the 11th consecutive month, expanding 1.1% in March, as 18 of 20 industrial sectors were up.
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<![CDATA[Ottawa Takes Equity Stake In Muskrat Falls Hydro Project ]]>Thu, 29 Jul 2021 06:33:00 ESThttps://www.baystreet.ca/articles/economiccommentary.aspx?id=3286Ottawa Takes Equity Stake In Muskrat Falls Hydro Project


Ottawa is investing $5.2 billion in Newfoundland’s Muskrat Falls hydroelectric project.

Prime Minister Justin Trudeau has announced that the federal government will provide aid to the long-delayed, over-budget Muskrat Falls project ahead of a likely election this September.

Ottawa will take an equity stake in the hydro project and provide debt guarantees as part of a $5.2-billion restructuring agreement with the Government of Newfoundland and Labrador, which includes $2 billion in government financing.

The deal earmarks $1 billion for an investment in Newfoundland’s portion of the project’s Labrador-Island Link and a $1-billion federal loan guarantee for the Muskrat Falls dam and its transmission lines.

Costs for the Muskrat Falls project have soared to more than $13 billion, nearly double early projections. Wednesday’s deal also includes a federal government commitment to make annual transfers to Newfoundland to help the province mitigate a spike in electricity rates due to the project’s cost.

The latest funding marks another intervention by Trudeau’s government in the 824-megawatt dam on the lower Churchill River in the sparsely populated Labrador region. In November 2016, Ottawa guaranteed nearly $3 billion in debt for the project after costs ballooned from an initial estimate of $7.4 billion.

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<![CDATA[Asia, Hong Kong Find Way Out of Slump]]>Thu, 29 Jul 2021 06:22:00 ESThttps://www.baystreet.ca/articles/foreignmarketwrap.aspx?id=3722Thursday, July 29, 2021

Asia, Hong Kong Find Way Out of Slump


Shares in Hong Kong continued to see a rebound on Thursday from a two-day slump earlier in the week. Meanwhile, Asia-Pacific markets rose after the U.S. Federal Reserve left its benchmark interest rate near zero.

In Japan, the Nikkei 225 hiked 200.76 points, or 0.7%, to 27,752.42.

Shares of Softbank Group in Japan jumped 4.1%. The Japanese conglomerate is selling about one-third of its stake in ride-hailing company Uber to cover losses on its investment in Chinese ride-hailing company Didi.

Sony Group’s stock also surged 3.5%. Those gains came after Sony Interactive Entertainment announced Wednesday that more than 10 million PlayStation 5 units have been sold since launch, remaining the fast-selling console in the company’s history.

The Japanese yen traded at 109.80 per U.S. dollar, compared to an earlier low of 109.95 against the greenback.

In Hong Kong, the Hang Seng popped 841.44 points, or 3.3%, to 26,314.32, The index had dived more than 8% over two days early this week.

Chinese tech stocks in Hong Kong, which were hit hard by the market rout earlier in the week, soared. Shares of Tencent jumped 10% while Alibaba gained 7.7% and Meituan climbed 9.5%.

The Australian dollar changed hands at $0.74 after seeing an earlier low of $0.7357.

CHINA

In Shanghai, the CSI 300 gained 89.79 points, or 1.9%, to 4,850.27.

China’s securities regulators told brokerages late Wednesday that the country will allow Chinese firms to go public in the U.S. as long as they meet listing requirements.

In other markets

The Kospi index in Korea edged up 5.79 points, or 0.2%, to 3,242.65.

In Taiwan, the Taiex index surged 267.59 points, or 1.6%, to 17,402.81

In Singapore, the Straits Times Index piled on 38.86 points, or 1.2%, to 3,180.61.

In New Zealand, the NZX 50 moved forward 133.53 points, or 1.1%, to 12,728.85.

In Australia, the ASX 200 added 38.1 points, or 0.5%, to 7,417.39

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<![CDATA[U.S. GDP Hike Falls Short of Projections ]]>Thu, 29 Jul 2021 08:35:00 ESThttps://www.baystreet.ca/articles/globalmarkets.aspx?id=2948Investors and economy watchers south of the border were elated Thursday, with word their economy may have turned a corner.

Figures released by the U.S. Commerce Department showed the economy accelerated at a strong pace in the second quarter in a sign that the U.S. has escaped the shackles of the COVID-19 pandemic.

Gross domestic product, a measure of all goods and services produced during the April-to-June period, accelerated TK% on an annualized basis.

However, the gain was considerably less than the 8.4% Dow Jones estimate.

The gain also was a yardstick for how far the economy has come from the shutdowns imposed during the early days of the pandemic, when government across the country halted large swaths of economic activity to combat the Covid-19 spread.

At its nadir, the economy collapsed 31.4% in the second quarter of 2020; it bounced back 33.4% in the subsequent three-month period and has continued to push towards normal since.

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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]]><![CDATA[TSX Hikes on Resource Issues ]]>Thu, 29 Jul 2021 04:29:00 ESThttps://www.baystreet.ca/articles/marketupdates.aspx?id=10426Thursday, July 29, 2021

16:29 PM EST
TSX Hikes on Resource Issues

Loblaw, Tilray in Focus



Equities finished solidly in the green Thursday, powered by gold and mining concerns.

The TSX Composite index gained 81.38 points to 20,311.78.

The Canadian dollar hiked half a cent to 80.37 cents U.S.

Resource stocks jumped, led by Canfor Corp., up $1.30, or 5.6%, to $24.49, while First Quantum Minerals, up $1.25, or 4.9%, to $26.95.

Among golds, Kirkland Lake Gold hiked $3.19, or 6.4%, to $53.14, while New Gold gathered 16 cents, or 4%, to $2.06.

In the consumer staple sector, Loblaw Companies gained $1.45 or 1.8%, to $83.89, while George Weston added $2.01, or 1.6%, to $129.51.

Health-care tailed off, however, Tilray sank 84 cents, or 4.2%, to $19.21, while Aurora Canabis doffed 28 cents, or 3.1%, to $8.87.

Techs sank, with BlackBerry bruised 54 cents, or 4%, to $12.92, while Celestica slid 23 cents, or 2.1%, to $10.99.

Communications were also in the red, with Rogers down 14 cents to $63.45, while Telus dropping 12 cents to $27.52.

On the economic slate, Statistics Canada said payroll employment fell by 257,500 (or -1.6%) in May, with much of the decline concentrated in service industries in Ontario.

British Columbia is bringing back a mask mandate for the central region of the province amid a surge of COVID-19 cases in the area, less than a month after easing restrictions.

ON BAYSTREET

The TSX Venture Exchange climbed 12.48 points, or 1.4%, to 921.27

Eight of the 12 TSX subgroups were positive on the session, as materials strengthened 2.3%, gold brightened 2.1%, and consumer staples bettered themselves 0.8%.

The four laggards were weighed most by health-care, off 1.6%, information technology, sliding 0.6%, and communications, down 0.1%.

ON WALLSTREET

U.S. stocks rose to record levels on Thursday as investors shrugged off economic data pointing slower-than-expected growth.

The Dow Jones Industrials came off their highs of the day, but still succeeded 153.6 points to 35, 084.53 to a new all-time closing record.

The S&P 500 cleared breakeven 18.51 points to 4,419.15, also reaching a fresh high.

The NASDAQ gained 15.68 points to 14,778.26, amid a drop in Facebook and PayPal shares.

The major averages are on track to end the month higher, with the S&P up 2.8% for July. The NASDAQ and Dow are each up 1.7%.

Shares of Robinhood started trading on the NASDAQ at $38 per share on Thursday, but the stock eventually closed its debut session more than 8% lower $34.82 per share.

PayPal gave back 6.2%, and Facebook lost 4%, after warning of significant growth slowdown as they reported quarterly earnings.

Meanwhile, shares of Ford jumped nearly 4% after the automobile company raised its 2021 outlook after reporting a surprise profit in the second quarter.

Amazon, Pinterest and Anheuser-Busch are set to report earnings Thursday.

U.S. second-quarter gross domestic product accelerated 6.5% on an annualized basis, considerably less than the 8.4% Dow Jones estimate.

Meanwhile, a separate data point showed that 400,000 people filed initial claims for unemployment benefits for the week ended July 24. That level is nearly double the pre-pandemic norm and above a Dow Jones estimate of 385,000.

Many investors were relieved that the Federal Reserve signaled no imminent plans for dialing back asset purchases. Fed Chairman Jerome Powell cautioned that although the economy is making progress toward its goals, it has a ways to go before the central bank would actually adjust its easy policies.

Prices for 10-Year Treasurys sagged, lifting yields to 1.27% from Wednesday’s 1.23%. Treasury prices and yields move in opposite directions.

Oil prices grabbed $1.20 to $73.59 U.S. a barrel.

Gold prices leaped $28.70 to $1,828.40 U.S. an ounce.





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<![CDATA[Stocks in Play: EXFO Inc.]]>Thu, 29 Jul 2021 03:45:10 ESThttps://www.baystreet.ca/articles/stocksinplay.aspx?id=33505Thursday, July 29, 2021

15:45 PM EST - EXFO Inc. : Said its minority shareholders were thanked by those of Viavi Solutions for their strong support to date for VIAVI's binding superior proposal to acquire EXFO for US$8.00 in cash per share. Those VIAVI has spoken to support VIAVI's binding superior proposal and believe that Germain Lamonde, EXFO's Chairman and majority shareholder, and the EXFO Special Committee should do what is right for all shareholders – not just Lamonde – and accept VIAVI's binding superior proposal. EXFO Inc. (T.EXF) shares were down $0.18 at 6.96.

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<![CDATA[Should You Buy Royal Bank Stock Today?]]>Thu, 29 Jul 2021 03:51:11 ESThttps://www.baystreet.ca/articles/stockstowatch.aspx?id=11021Thursday, July 29, 2021

Should You Buy Royal Bank Stock Today?


Royal Bank (TSX:RY)(NYSE:RY) is the largest financial institution in Canada. Its shares have climbed 20% in 2021 as of close on July 28. The stock is up 36% from the prior year.

Today, I want to discuss whether Canada’s top bank is still worth adding in late July and early August. Investors have been able to see the fruits of its first-half results. In Q2 2021, net income shot up $2.5 billion from the prior year to $4.0 billion. Meanwhile, diluted earnings per share climbed $1.00 to $2.76.

Royal Bank and its peers have benefited from loose monetary policy and a rebounding economy. Its Personal and Commercial Banking segment saw net income rise to $1.90 billion – up $1.37 billion in the previous year. That earnings growth was powered by lower provisions for credit losses (PCL) and improved average volume growth with double-digit percentage growth in deposits and 6% growth in loans.

The bank’s Wealth Management segment delivered growth of 63% to $691 million. This was mostly due to average loan growth and higher average fee-based client assets. Meanwhile, its Insurance, Treasury & Investor Services, and Capital Markets segments all delivered good to great growth.

Canada’s vaccine rollout kicked into high gear in the late spring and summer months. The economic rebound is well underway, and the country’s top financial institutions are poised to benefit. Shares of Royal Bank still possess a favourable price-to-earnings ratio of 12.

Moreover, it offers a quarterly dividend of $1.08 per share. That represents a 3.4% yield.

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<![CDATA[USD/CAD - Canadian Dollar Soars]]>Thu, 29 Jul 2021 09:50:28 ESThttps://www.baystreet.ca/articles/forex_trader.aspx?id=69049
"Last December, the Committee indicated that it would continue to increase its holdings of Treasury securities by at least $80 billion per month and of agency mortgage-backed securities by at least $40 billion per month until substantial further progress has been made toward its maximum employment and price stability goals. Since then, the economy has made progress toward these goals, and the Committee will continue to assess progress in coming meetings."

It wasn’t enough for U.S. dollar bulls, and they sold bucks against the majors, with the Australian and New Zealand dollars leading the pack.

Canadian dollar traders ignored the weaker than expected domestic inflation data released yesterday.

Canada Consumer Price Index rose 0.3% m/m in June compared to the consensus forecast for a 0.4% m/m increase. The data is skewed as Statistics Canada updated the weightings to better account for spending habits during the pandemic era.

Nevertheless, the results downgraded near term inflations risks.

Overnight, the major Asian equity indexes rallied, helped by reports Chinese regulators were extolling the virtues of domestic capital markets, and saying they would allow Chines companies to go public. A 3.30% gain in Hong Kong’s Hang Seng Index led Asian equity indexes higher.

European bourses are also in positive territory, but gains have been modest. Wall Street is poised to open on a mixed note. DJIA futures have gained 0.30%, while S&P 500 futures are unchanged. Oil and gold prices rallied, and U.S. 10-year Treasury yields at 1.263% are above their 1.225% session low.

USD/CAD popped to $1.2600 when the FOMC statement was released then dropped steadily until finding a bottom at $1.2454 in Asia. The short-term technical outlook flipped to bearish with the move below support in the $1.2510-30 area, with a break below $1.2405 targeting $1.2305.

Today’s U.S. data includes weekly jobless claims and U.S. Q2 Gross Domestic Product. The GDP forecast is a robust 8.6%, which may reopen the debate that the economy has peaked.

Weekly jobless claims were expected at 380,000.








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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