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SoftBank Group said it will gain an estimated US$34.08 billion from the settlement of prepaid futures contracts using Alibaba Group shares. (Photo: 123RF)

News is essential

• Expected slowdown in US consumer inflation. U.S. consumer prices are expected to rise at a much slower pace in July due to a sharp drop in gasoline prices, the first tangible sign of relief for Americans who have seen inflation rise over the past two years. year

• Musk may be forced to buy Twitter, selling US$6.9 billion in Tesla shares. Tesla CEO Elon Musk sold $6.9 billion worth of company stock, saying the funds could be used to fund a potential deal with Twitter if he loses an upcoming legal battle. Announcements with social media platforms.

• SoftBank will raise US$34 billion by reducing its stake in Alibaba SoftBank Group said it will take an estimated US$34.08 billion in the settlement of prepaid futures contracts using Alibaba Group shares, reducing its stake from 23.7% to 14.6%.

• Launching a pilot project in the US to reduce port congestion. The US Department of Transportation has announced that a supply chain data sharing pilot project aimed at reducing bottlenecks at US ports has begun sharing data and has doubled in size.

• Republicans want SEC probe after midterm elections. US Republicans are preparing to crack down on US consumer and securities watchdogs if they seize control of congressional committees after the midterm elections in November, according to a dozen financial lobbyists, congressional staffers and lawmakers.

(Re)read all market news

Trends before the opening

Canada’s main stock index and Wall Street futures rose ahead of the release of U.S. inflation data.

European stocks were slightly lower on volatility and the Japanese Nikkei ended the session with losses in the technology sector.

The US dollar fell against most currencies.

Oil prices fall on expectations that Druzhba pipeline service will resume

Gold prices have fallen slightly.

recommendation

• Hudbay Minerals: Scotiabank raised its target price to C$7.5 to C$8 for the company’s second-quarter results release, in line with expectations.

• Recipes Unlimited: CIBC raised its target price to C$20.73 from C$16 because Fairfax’s offer to acquire the company is valuable enough.

• Spartan Delta: National Bank of Canada raised its target price from C$20 to C$22.5 after the company reported second-quarter results that beat expectations.

• Total energy service: ATB Capital Markets raised its target price to C$14.5 from C$13.5 after the company posted very good results for the second quarter.

• Triple flag precious metal: CIBC cut its target price from C$23 to C$21 due to uncertainty surrounding the Pumpkin Hollow and Gunnison projects.

Key indicators on the agenda

1 2:00 p.m. Refinitive Index IPSOS PCSI (August): Previous 50.35

Publication of results

10 August

Africa oilQ2 earnings per share are forecast at US$0.07

ATS Automation Tooling SystemQ1 earnings per forecast of C$0.53

Badger infrastructure solutionQ2 earnings per forecast of C$0.20

Birchcliff EnergyQ2 earnings per forecast of C$0.60

Boyd Group Services: Earnings per share forecast at US$0.30 in Q2

CAEQ1 earnings per forecast of C$0.23

CCL IndustriesQ2 earnings per forecast of CA$0.86

Centaur GoldQ2 loss per share is forecast at US$0.01

Dream UnlimitedQ2 earnings per forecast of C$0.42

Element Fleet ManagementQ2 earnings per forecast of C$0.23

emeraQ2 earnings per forecast of C$0.60

Fortuna Silver MinesQ2 earnings per share forecast at US$0.08

Franco-NevadaQ2 earnings per share forecast at US$0.98

fickleQ2 earnings per forecast of C$2.75

Leon FurnitureQ2 earnings per forecast of C$0.39

LinamarQ2 earnings per forecast of C$1.38

Manulife FinancialQ2 earnings per forecast of C$0.76

Subway: Q3 earnings per share forecast of C$1.19

Pan American SilverQ2 earnings per share are forecast at US$0.15

Passion systemQ2 earnings per forecast of C$0.18

Peyto Exploration and DevelopmentQ2 earnings per forecast of CA$0.66

Russell MetalsQ2 earnings per forecast of C$1.46

StantecForecast Q2 earnings per share of CA$0.80

Stelco Holdingss: C$4.36 per share forecast Q2 earnings

Stella JonesQ2 earnings per forecast of C$1.18

sunopta: Forecast earnings per share at breakeven in Q2

Tricon is residentQ2 earnings per share forecast at US$0.08

Trulieve CannabisQ2 earnings per share are forecast at US$0.02

Wesdome is a gold mineQ2 earnings per forecast of C$0.07

August 11

Algonquin Power & UtilitiesQ2 earnings per share are forecast at US$0.15

Altus GroupQ2 earnings per forecast of C$0.68

Brookfield Asset ManagementQ2 earnings per share are forecast at US$0.57

Canada Goose HoldingsForecast Q1 loss per share of C$0.61

Canadian Tire CorporationQ2 earnings per forecast of C$3.61

CI FinancialQ2 earnings per forecast of C$0.79

doseboQ2 loss per share is forecast at US$0.07

ECN Capital: Earnings per share forecast at US$0.09 in Q2

exchange incomeQ2 earnings per forecast of C$0.61

LifeworksQ2 earnings per forecast of C$0.19

Northland PowerQ2 earnings per forecast of C$0.11

Park lawn: Earnings per share forecast at US$0.30 in Q2

Sandstorm is gold: Earnings per share forecast at US$0.05 in Q2

Sierra WirelessQ2 earnings per share are forecast at US$0.28

The power of vermilionQ2 earnings per forecast of C$1.67

Wheaton is precious metal: Earnings per share forecast at US$0.32 in Q2

Corporate agenda

08:00 ABIOMED: Annual General Meeting of Shareholders

08:00 Converge Technology Solutions: Q2 results conference call

08:30 ATS Automation Tooling System: Q1 results conference call

08:30 emera: Q2 results conference call

08:30 EQB: Q2 results conference call

08:30 Kinaxis: Q2 results conference call

08:30 Trulieve Cannabis: Q2 results conference call

09:00 Centaur Gold: Q2 results conference call

09:00 Freehold Royalty: Q2 results conference call

09:00 Subway: Q3 results conference call

10.00 am. Boyd Group Services: Q2 results conference call

10.00 am. Frontera Power: Q2 results conference call

10.00 am. Monday Gold: Q2 results conference call

10.00 am. Osisko Gold Royalty: Q2 results conference call

10.00 am. Stella Jones: Q2 results conference call

10.00 am. Triple flag is precious metal: Q2 results conference call

10:30 am. Superior Plus: Q2 results conference call

11:00 Ballard Power Systemss: Q2 earnings conference call

1:30 p.m. CAE: Q1 results conference call

5:00 pm. Linamar: Q2 results conference call

5:00 pm. sunopta: Q2 results conference call

7:00 pm. Element Fleet Management: Q2 results conference call

Coupon Secondment

No major coupon breakups are expected today.

All analyst forecasts are based on I/B/E/S data from Refinitiv.

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