Embed Size (px)
Citation preview
MORNING NEWS CALL
TOP NEWS
• Korean leaders aim for end of war, "complete denuclearisation" after historic summit
The leaders of North and South Korea embraced after pledging to work for the "complete denuclearisation of the Korean peninsula",
on a day of smiles and handshakes at the first inter-Korean summit in more than a decade.
• TransCanada profit rises 14 percent
Pipeline operator TransCanada Corp reported a 14 percent rise in first-quarter profit on Friday, helped by higher demand for its liquids
and natural gas pipelines.
• Cameco turns to profit on lower costs, higher uranium prices
Cameco posted a first-quarter profit compared with a loss a year ago as the uranium producer benefited from lower costs and higher
prices of the commodity.
• Wisconsin oil refinery fire out, at least 15 hurt -officials
An explosion at Husky Energy's refinery in Superior, Wisconsin, caused a fire that burned for several hours on Thursday and sent
smoke billowing into the air, prompting the evacuation of thousands of residents, officials said.
• Refiner Phillips 66 reports Q1 profit dip
U.S. oil refiner Phillips 66 reported a 2 percent fall in first-quarter profit, hurt by higher costs.
BEFORE THE BELL
Stock futures pointed to a lower opening for Canada's main stock index on Friday as oil prices fell due to a stronger U.S. dollar.
Futures for the Nasdaq Composite were higher, lifted by strong gains from tech giants such as Amazon and Facebook, while the
Dow and S&P futures were little changed. Rally in tech shares also boosted Asian equities and well-received results from Spanish
banks buoyed European shares. Gold edged higher, but was likely to fall after the prospect for a Korean denuclearization deal erod-
ed bullion's safe-haven appeal.
STOCKS TO WATCH
Results
• Cameco Corp (CCO). The company posted a first-quarter profit compared with a loss a year ago as the uranium producer benefited
from lower costs and higher prices of the commodity. Net earnings were C$55 million, or 14 Canadian cents per share, in the quarter
ended March 31, compared with a loss of C$18 million, or 5 Canadian cents per share, a year earlier. Revenue rose to C$439 million
from C$393 million.
TransCanada Corp (TRP). The pipeline operator reported a 14 percent rise in first-quarter profit, helped by higher demand for its
liquids and natural gas pipelines. Net income attributable to common shares for the first quarter rose to C$734 million, or 83 Canadian
cents per share, from C$643 million, or 74 Canadian cents per share, for the same period in 2017. Revenue rose C$3.42 billion from
C$3.41 billion.
REUTERS Canada Edition Friday, April 27, 2018
2
MORNING NEWS CALL - CANADIAN EDITION April 27, 2018
In other news
• Agnico Eagle Mines Ltd (AEM). The miner on Thursday said it is planning to divest all of its cobalt assets in Canada and that it
sold some gold interests in the United States. Agnico said it also started a strategic review on selling about 2,100 hectares of the
Coleman and the South Lorrain cobalt-rich properties in Canada. The company sold its gold interests in Nevada to a unit of Newmont
Mining for $35 million and for certain smelter royalties.
• Bombardier Inc (BBDb). Airbus said it aims to reduce recurring costs of Bombardier's CSeries so that it can sell the jetliner in "big
volumes" as soon as a deal to buy the loss-making programme from Canada's Bombardier is completed. "We are ready to hit the
market" using the global Airbus sales force as soon as the deal closes, Airbus executive Harald Wilhelm told analysts. People familiar
with the matter told Reuters in Canada earlier this week that the deal is expected to clear the final regulatory hurdles by the end of
May.
• Husky Energy Inc (HSE). Investigators on Friday searched for the cause of a blast at a Husky Energy refinery that injured at least
10 people and rocked a northern Wisconsin city, sending smoke billowing into the sky and prompting tens of thousands to evacuate.
A massive explosion shook Superior, Wisconsin, a city of about 27,000 people, at about 10 a.m. local time on Thursday, local authori-
ties said. What ignited the blast was not clear. After an initial blaze was extinguished, a storage tank was punctured, and a second fire
erupted, Husky Energy spokesman Mel Duvall said. The U.S. Chemical Safety and Hazard Investigation Board has sent a four-
person team to investigate.
COLUMN
Will oil prices finally give teeth to inflation's bite?: McGeever
2018 was supposed to be the year inflation bared its teeth, finally emerging after years of unprecedented stimulus in a booming global
economy.The Fed is well down the path of normalizing policy, with other central banks about to follow. And right on cue, the prices of
oil and other commodities are accelerating sharply.
ANALYSTS' RECOMMENDATION
• Stantec Inc (STN) CIBC raises price target to C$38 from C$36, following the company's announcement that it will commence the
strategic review for MWH Constructors, Stantec Treatment and Slayden.
• Vermilion Energy Inc (VET). RBC cuts target price to C$52 from C$53, after the company reported mixed first-quarter results, say-
ing activity levels were hampered somewhat by weather related issues, or minor unanticipated downtime.
ECONOMIC EVENTS (All timings in U.S. Eastern Time)
1100 Budget balance for Feb: Prior 0.17 C$bln
1100 Budget, year-to-date for Feb: Prior -8.38 bln C$
COMPANIES REPORTING RESULTS
Apr 27:
Cameco Corp (CCO). Expected Q1 loss of 1 Canadian cent per share
Celestica Inc (CLS). Expected Q1 earnings of 24 cents per share
Imperial Oil Ltd (IMO). Expected Q1 earnings of 42 Canadian cents per share
TransCanada Corp (TRP). Expected Q1 earnings of 84 Canadian cents per share
3
MORNING NEWS CALL - CANADIAN EDITION April 27, 2018
Apr 30:
Air Canada (AC). Expected Q1 loss of 44 Canadian cents per share
Capital Power Corp (CPX). Expected Q1 earnings of 37 Canadian cents per share
CORPORATE EVENTS (All timings in U.S. Eastern Time)
0800 Celestica Inc (CLS). Q1 earnings conference call
0830 Agnico Eagle Mines Ltd (AEM). Q1 earnings conference call
0900 First Quantum Minerals Ltd (FM). Q1 earnings conference call
0930 Celestica Inc (CLS). Annual Shareholders Meeting
0930 Detour Gold Corp (DGC). Q1 earnings conference call
1100 Agnico Eagle Mines Ltd (AEM). Annual Shareholders Meeting
1100 Nevsun Resources Ltd (NSU). Q1 earnings conference call
1130 Eldorado Gold Corp (ELD). Q1 earnings conference call
1130 Imperial Oil Ltd (IMO). Annual Shareholders Meeting
1200 TransCanada Corp (TRP). Annual Shareholders Meeting
1300 Cameco Corp (CCO). Q1 earnings conference call
1500 Capital Power Corp (CPX). Annual Shareholders Meeting
1500 TransCanada Corp (TRP). Q1 earnings conference call
EXDIVIDENDS
ARC Resources Ltd (ARX). Amount C$0.05
Canadian Tire Corporation Ltd (CTCa). Amount C$0.90
Chartwell Retirement Residences (CSH_u). Amount C$0.05
Chorus Aviation Inc (CHR). Amount C$0.04
CI Financial Corp (CIX). Amount C$0.12
Cineplex Inc (CGX). Amount C$0.14
Crescent Point Energy Corp (CPG). Amount C$0.03
Enerplus Corp (ERF). Amount C$0.01
First National Financial Corp (FN). Amount C$0.15
Freehold Royalties Ltd (FRU). Amount C$0.05
Kinder Morgan Canada Ltd (KML). Amount C$0.16
Morneau Shepell Inc (MSI). Amount C$0.07
Mullen Group Ltd (MTL). Amount C$0.05
Northland Power Inc (NPI). Amount C$0.10
Peyto Exploration & Development Corp (PEY). Amount C$0.06
PrairieSky Royalty Ltd (PSK). Amount C$0.07
Sienna Senior Living Inc (SIA). Amount C$0.08
Superior Plus Corp (SPB). Amount C$0.06
TORC Oil & Gas Ltd (TOG). Amount C$0.02
Vermilion Energy Inc (VET). Amount C$0.23
Whitecap Resources Inc (WCP). Amount C$0.03
(All analysts' estimates are according to Thomson Reuters I/B/E/S)
4
MORNING NEWS CALL - CANADIAN EDITION April 27, 2018
PICTURE OF THE DAY
A mourner pays respects at a makeshift memorial on Yonge Street after a van attacked multiple people in Toronto, On-tario, Canada, April 26, 2018. REUTERS/Carlo Allegri
(Compiled by Erum Khaled and Yoganand KN in Bengaluru) To subscribe for The Morning Newscall newsletter click here To un-subscribe for this newsletter click here For questions or comments about this report, contact: [email protected] To launch a Co-branded Morning News Call from your firm, contact: [email protected] For more information about our products: https://www.thomsonreuters.com/en/products-services.html Or send us a sales enquiry at: https://www.thomsonreuters.com/en/contact-us.html
NEWS ACCESS MADE EASY Reuters Top News page displays a range of market and sector-specific subjects including: US, Europe and Asian companies, fixed income, credit, the global economy, emerging markets, corporate finance and industry sectors. To access Reuters Top News -- Thomson ONE: Click News tab, Select Front Page from top right, Click Top News. © 2018 Thomson Reuters. All rights reserved. This content is the intellectual property of Thomson Reuters and its affiliates. Any copying, distribution or redistribution of this content is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. Thom-son Reuters and its logo are registered trademarks or trademarks of the Thom-son Reuters group of companies around the world.
