Enbridge 3Q
Ensign Energy Svcs Inc.(ESI.T) 3Q
Magna Intl Inc. (MG.T) 3Q
Sprott 3Q
TC Energy 3Q
TELUS Intl (CDA) (TIXT.T) 3Q
Economic Indicators (ET):
0830 Oct Labour Force Survey
1000 Oct Ivey Purchasing Managers Index
Stocks to Watch:
Russel Metals Agrees to Acquire Boyd Metals
Metals distribution company Russel Metals Inc. on Thursday said it agreed to acquire a group of companies that operate as Boyd Metals in a $110 million deal, subject to closing adjustments.
Boyd has five service centers in Arkansas, Missouri, Oklahoma City and Texas. Its product mix includes carbon steel products, stainless steel, aluminum and other related industrial products, Russel said, adding it also offers value-added processing services.
"For the 12 months ended Sept. 30, 2021, Boyd generated revenues of $244 million," Russel said.
The deal is expected to close in the fourth quarter, Russel said.
Other News:
Canada Strips Military of Powers to Investigate Sexual Misconduct
Canada on Thursday said all allegations of sexual misconduct within the country's armed forces would now be investigated and prosecuted by civilian authorities, citing skepticism among soldiers and the public about the military's ability to police itself.
Policy analysts say this marks a rare move among major Western democracies to strip certain responsibilities away from their own military's justice system. The decision is also the first significant response from the country's Liberal government to a series of sexual-misconduct allegations in the armed forces that sparked a public outcry and a probe by parliamentarians. The uproar also threatened to undermine Prime Minister Justin Trudeau and his high-profile pledge to defend women's rights and fight harassment in the workplace.
Academics who study sexual misconduct in the military had argued Canada lagged behind the U.S. and other jurisdictions in addressing sexual-misconduct complaints in the military, in part because legislative armed-services oversight is among the weakest relative to other major Western democracies.
Anita Anand, named Canada's defense minister last week, said the move would help the armed forces "live up to its stated values and the expectations of Canadians," and was recommended by a former Supreme Court of Canada justice the government appointed this year to investigate sexual misconduct in the military. Ms. Anand is a lawyer and was a law professor before entering politics in 2019.
Market Talk:
Canada Bank Regulator Decision Could Spur Buybacks, Dividends
A decision by Canada's Office of the Superintendent of Financial Institutions to allow Canada's banks to increase dividends and resume share buybacks could unleash a large wave of shareholder returns, Barclays analyst John Aiken says. Canada's banks have been accruing capital well beyond their regulatory minimums since March 2020. The banking regulator imposed capital restrictions on the banks to ensure they had enough capital to withstand possible financial shocks caused by the pandemic. With the restrictions now gone "Canadian large cap banks could go beyond their usual conservative stance," Aiken says.
Expected Major Events for Friday
00:01/UK: Oct BRC-Sensormatic IQ Footfall Monitor
01:01/UK: Oct KPMG and REC UK Report on Jobs
02:00/JPN: Oct Imported Vehicle Sales
07:00/GER: Sep Industrial Production Index
07:00/UK: Oct Halifax House Price Index
07:45/FRA: 3Q Flash estimate of job creation
07:45/FRA: Sep Industrial production index
09:00/ITA: Sep Retail Sales
12:30/CAN: Oct Labour Force Survey
12:30/US: Oct U.S. Employment Report
14:00/CAN: Oct Ivey Purchasing Managers Index
19:00/US: Sep Consumer Credit
All times in GMT. Powered by Kantar Media and Dow Jones.
Expected Earnings for Friday
AMC Networks Inc (AMCX) is expected to report $1.10 for 3Q.
American Axle & Manufacturing Holdings Inc (AXL) is expected to report $0.07 for 3Q.
Brookfield Renewable Partners LP (BEP,BEP.UN.T) is expected to report $0.02 for 3Q.
Canada Goose Holdings Inc (GOOS,GOOS.T) is expected to report $-0.08 for 2Q.
Capital Product Partners LP (CPLP) is expected to report for 3Q.
Centerra Gold is expected to report $0.11 for 3Q.
Century Casinos (CNTY) is expected to report $0.00 for 3Q.
Cinemark Holdings (CNK) is expected to report $-0.65 for 3Q.
Dixie Group (DXYN) is expected to report for 3Q.
Dominion Energy (D) is expected to report $1.03 for 3Q.
EW Scripps Co - Class A (SSP) is expected to report for 3Q.
Elanco Animal Health Inc (ELAN) is expected to report $-0.16 for 3Q.
EnPro (NPO) is expected to report $0.77 for 3Q.
Enbridge Inc (ENB,ENB.T) is expected to report $0.57 for 3Q.
Ensign Energy Services Inc (ESI.T,ESVIF) is expected to report $-0.22 for 3Q.
Forum Energy Technologies Inc (FET) is expected to report for 3Q.
Gannett Co Inc (GCI) is expected to report for 3Q.
Global Partners LP (GLP) is expected to report $0.64 for 3Q.
Goodyear Tire & Rubber Company (GT) is expected to report $0.25 for 3Q.
GrafTech International Ltd (EAF) is expected to report $0.36 for 3Q.
Groupon Inc (GRPN) is expected to report for 3Q.
Hudson Global Inc (HSON) is expected to report for 3Q.
Interface (TILE) is expected to report $0.27 for 3Q.
Kimco Realty Corp (KIM) is expected to report $0.15 for 3Q.
MFA Financial Inc (MFA) is expected to report $0.11 for 3Q.
Magna International Inc (MG.T,MGA) is expected to report $1.08 for 3Q.
Mammoth Energy Services Inc (TUSK) is expected to report $-0.03 for 3Q.
Marcus & Millichap Inc (MMI) is expected to report $0.47 for 3Q.
McCoy Global is expected to report for 3Q.
Newmark Group Inc (NMRK) is expected to report $0.20 for 3Q.
Northwest Natural Holding Co (NWN) is expected to report $-0.69 for 3Q.
Physicians Realty Trust (DOC) is expected to report $0.08 for 3Q.
Pinnacle West Capital (PNW) is expected to report $2.60 for 3Q.
Plymouth Industrial REIT Inc (PLYM) is expected to report $-0.18 for 3Q.
Sempra (SRE) is expected to report $1.73 for 3Q.
Syros Pharmaceuticals Inc (SYRS) is expected to report $-0.47 for 3Q.
TC Energy Corp (TRP,TRP.T) is expected to report for 3Q.
Tenneco Inc (TEN) is expected to report $-0.19 for 3Q.
US Ecology (ECOL) is expected to report for 3Q.
Vistra Corp (VST) is expected to report $1.37 for 3Q.
Powered by Kantar Media and Dow Jones.
ANALYST RATINGS ACTIONS
Allstate Cut to Outperform From Strong Buy by Raymond James
Ameresco Cut to Neutral From Overweight by Piper Sandler
American Water Works Cut to Neutral From Buy by Goldman Sachs
Andersons Raised to Overweight From Equal-Weight by Stephens & Co.
Apache Corp Raised to Buy From Hold by Truist Securities
Asana Cut to Hold From Buy by Jefferies
BioDelivery Sciences Cut to Neutral From Buy by HC Wainwright & Co.
BlueLinx Raised to Buy From Hold by Loop Capital
Cadence Bancorp. Raised to Overweight From Neutral by Piper Sandler
Cutera Raised to Buy From Hold by Maxim Group
elf Beauty Cut to Neutral From Overweight by Piper Sandler
Equinix Cut to Market Perform From Outperform by Cowen & Co.
Evercore Cut to Neutral From Buy by UBS
G1 Therapeutics Cut to Underweight From Neutral by JP Morgan
Immersion Cut to Neutral From Buy by Colliers Securities
IPG Photonics Cut to Underperform From Neutral by B of A Securities
KnowBe4 Raised to Buy From Neutral by Goldman Sachs
Lyft Raised to Buy From Outperform by Daiwa Capital
Macerich Raised to Neutral From Underweight by Piper Sandler
Maxar Technologies Raised to Outperform From Neutral by Baird
Monroe Capital Raised to Buy From Neutral by B. Riley Securities
National CineMedia Raised to Outperform From Neutral by Wedbush
NOW Raised to Overweight From Equal-Weight by Stephens & Co.
Prog Holdings Cut to Equal-Weight From Overweight by Stephens & Co.
Qorvo Cut to Hold From Buy by Summit Insights Group
Qorvo Cut to Neutral From Buy by B of A Securities
Qualcomm Cut to Hold From Buy by Summit Insights Group
Qualcomm Raised to Buy From Neutral by Goldman Sachs
Qualys Raised to Overweight From Underweight by JP Morgan
Reliance Steel Raised to Buy From Neutral by Goldman Sachs
Rimini Street Cut to Neutral From Buy by Alliance Global Partners
Rogers Corp Cut to Hold From Buy by Canaccord Genuity
Rogers Corp Cut to Hold From Buy by Stifel
Starbucks Cut to Hold From Buy by Argus Research
Upland Software Cut to Hold From Buy by Craig-Hallum
Upland Software Cut to Hold From Buy by Jefferies
This article is a text version of a Wall Street Journal newsletter published earlier today.
(END) Dow Jones Newswires
11-05-21 0604ET
