The Indo-Pacific Economic Framework, launched on Monday, represents the latest effort by the U.S. to intensify engagement in a region that has become an arena for strategic competition between Washington and Beijing in recent years. While the trade initiative included traditional allies like Australia and Japan, along with large economies such as India and Indonesia, it initially lacked the involvement of a Pacific island country in a vast area of ocean that is home to major shipping lanes and fisheries.
Write to paul.larkins@dowjones.com TODAY IN CANADA
Earnings:
Canopy Growth 4Q
Natl Bank of Canada 2Q
Economic Indicators:
None scheduled
Stocks to Watch:
Canfor: Announcing the Continuation of Reduced Operating Schedules at Its Western Canadian Sawmills Due to the Ongoing Global Supply Chain Challenges
Canfor: Company Has Been Operating at Approximately 80% of Production Capacity Since Late March 2022; Will Be Implementing Two Weeks of Rotating Downtime Across Its Primary Sawmills in July and Aug, Which Will Help Align Production Capacity With the Sustainable Timber Supply and Transportation Availability
Canfor: Capacity Reductions Are Expected to Result in an Incremental Impact of Approximately 275M Bd Feet by the End of Aug, in Addition to the 100M Bd Feet Reduction Previously Announced on March 30; Global Supply Challenges Are Continuing to Significantly Limit Ability to Transport Products to Customers and Inventory Levels Remain Very High
Canfor: Western Canadian Sawmills Are Anticipated to Resume Normal Operating Schedules Following Their Respective Summer Downtime
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Hydro One Restores Power to More Than 652,000 Customers After Saturday Storm, 91% of Affected Customers; Anticipates Power Will Be Restored to 99% of Affected Customers Affected by Friday Evening; Some in Rural, Remote and Island Locations in the Perth and Bancroft Areas Will Be Without Power for Several More Days; Resoration May Take Several Weeks for Small Number of Customers in Tweed Area; Hydro One Has Seen a Record 1,900 Broken Poles
Expected Major Events for Friday
00:30/JPN: Apr Detailed Import & Export Statistics
08:00/ITA: Apr Foreign Trade non-EU
08:30/UK: Apr Capital issuance
12:30/US: Apr Advance Economic Indicators Report
12:30/US: Apr Personal Income & Outlays
14:00/US: May University of Michigan Survey of Consumers - final
All times in GMT. Powered by Kantar Media and Dow Jones.
Expected Earnings for Friday
Big Lots (BIG) is expected to report $0.91 for 1Q.
Bridgford Foods Corp (BRID) is expected to report for 2Q.
Canadian Western Bank is expected to report $0.86 for 2Q.
Canopy Growth Corp (CGC,WEED.T) is expected to report $10.65 for 4Q.
DXI Capital Corp (DXI.H.V) is expected to report for 1Q.
EQ is expected to report for 1Q.
Hibbett Inc (HIBB) is expected to report $3.44 for 1Q.
National Bank of Canada (NA.T,NTIOF) is expected to report $2.23 for 2Q.
Regional Health Properties Inc (RHE) is expected to report for 1Q.
Spectral Medical is expected to report $-0.01 for 1Q.
Statera Biopharma Inc (STAB) is expected to report for 1Q.
Video Display Corp (VIDE) is expected to report for 4Q.
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ANALYST RATINGS ACTIONS
Alignment Healthcare Raised to Buy From Neutral by B of A Securities
AmerisourceBergen Raised to Overweight From Equal-Weight by Barclays
ASGN Cut to Market Perform From Outperform by BMO Capital
Cardinal Health Cut to Equal-Weight From Overweight by Barclays
Centene Cut to Neutral From Buy by B of A Securities
Cigna Raised to Neutral From Underperform by B of A Securities
Columbus McKinnon Cut to Neutral From Overweight by JP Morgan
Covetrus Cut to Equal-Weight From Overweight by Barclays
Dick's Sporting Goods Raised to Hold From Reduce by Gordon Haskett
Dow Cut to In-Line From Outperform by Evercore ISI Group
Frontier Comms Parent Raised to Equal-Weight From Underweight by Morgan Stanley
Kraft Heinz Cut to Sell From Neutral by UBS
Kratos Raised to Buy From Hold by Truist Securities
Manpower Cut to Market Perform From Outperform by BMO Capital
Molina Health Cut to Underperform From Buy by B of A Securities
Nutanix Cut to Market Perform From Outperform by William Blair
Nutanix Cut to Neutral From Buy by B of A Securities
Oscar Health Cut to Neutral From Buy by B of A Securities
Patterson-UTI Raised to Neutral From Underweight by JP Morgan
POINT Biopharma Global Raised to Buy From Hold by Jefferies
ProPetro Holding Cut to Underweight From Overweight by JP Morgan
Robert Half Cut to Market Perform From Outperform by BMO Capital
Sysco Raised to Overweight From Neutral by JP Morgan
Titan Pharmaceuticals Cut to Hold From Buy by Maxim Group
TrueBlue Cut to Market Perform From Outperform by BMO Capital
TuSimple Raised to Buy From Hold by China Renaissance
Union Pacific Cut to In-Line From Outperform by Evercore ISI Group
This article is a text version of a Wall Street Journal newsletter published earlier today.
(END) Dow Jones Newswires
05-27-22 0538ET
