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Pfizer has announced that it will acquire Biohaven Pharmaceutical Holding Company, a manufacturer of migraine drugs, for approximately US 11.6 billion. (Photo: 123RF)

News is essential

• Bank of Canada indicates next rate hike Faced with rising inflation, Canada’s central bank has taken the rare step of guiding its interest rate to meet market expectations while reviving the stimulus despite an overheated economy.

F Pfizer acquired Biohaven Pharmaceuticals for US $ 11.6 billion. Pfizer has announced that it will acquire Migraine drug maker Biohaven Pharmaceutical Holding Company for approximately US $ 11.6 billion in cash.

• Tesla shuts down production in Shanghai, April sales fall sharply. Tesla has shut down most of its production at its Shanghai factory due to problems with parts for its electric vehicles, according to an internal memo seen by Reuters, the latest in a series of problems for the factory.

Opioid cases in Walgary, CVS and Walmart Ohio before court. CVS Health, Walgreens Boots Alliance and Walmart are launching an unprecedented lawsuit to determine what drug store chains will pay for their role in the opioid epidemic in two counties in Ohio, seeking 87 878 ​​million.

• Suncor Energy exceeds expectations, plans to sell its UK assets. Sankar Energy reported earnings on Monday that beat analysts’ first-quarter forecasts and raised its dividend to a new high of 12% as Canada’s third-largest oil company benefited from price increases.

(Re) Read all the market news

Trend before opening

The future of Canada’s main stock index points to a high after the worst session in nearly two years, but investor sentiment remains fragile amid concerns about global economic growth. Wall Street futures and European stocks are ahead as bidders stock up on recently declining stocks. Japan’s Nikkei fell for the second day in a row but avoided major losses as Chinese stocks rose after Beijing promised to support the economy. The US dollar is up slightly after hitting a 20-year high the day before. Oil prices have been falling sharply in China due to the recession and growing fears of regulation. The price of gold varies slightly.

Follow the title

Hybrid power: The oil company announced a profit on Monday that surpassed analysts’ forecasts for the first quarter and raised its dividend by 12%, to a new high as the company took advantage of crude price increases. Suncor’s UK assets are located on the North Sea coast and include a 29.9% stake in the Buzzard field as well as a 40% stake in the Roseback project. Its total production fell last year, equivalent to 785,900 to 766,100 barrels of oil per day. Its refinery had a throughput of 436,500 barrels per day, slightly higher than the previous year. On Monday, the company reported net earnings of C $ 2.95 billion or C $ 2.06 per share for the three months ended March 31, compared to C $ 821 million or C $ .54 per share a year earlier. Excluding some items, Sankar posted a consistent operating income of C $ 1.92, beating analysts’ expectations of C $ 1.51. Also, the company issued a warning Monday after a fire at a gasoline production unit with a capacity of 103,000 barrels per day at its refinery in Colorado’s Commerce City. Sankar said emergency response workers had extinguished the fire at Plant 1, a gasoline production unit at the refinery. He added that “all personnel were found and no injuries were reported”, adding that an investigation was ongoing.

Others

Parkland: The company on Monday announced plans to spend C $ 600 million to increase production of renewable energy at its refinery in Burnaby, British Columbia. The project is subject to a final investment decision scheduled for the second half of 2023. When completed, the Parkland refinery will increase the amount of co-processing from 1,500 to 5,500 barrels per day and create an individually 6,500 barrel per day renewable diesel complex. British Columbia will be the largest. According to Parkland, the project will create up to 1,000 jobs during construction and create clean fuels that will reduce greenhouse gas emissions from the transportation sector by about two megatons per year. Production is expected to begin in 2026. The company has received support from the provincial government for more than 40% of project costs in the form of credit generated from compliance with the Columbia Low Carbon Fuel Standard. British, for which fuel suppliers are gradually needed. Their products reduce the average carbon intensity.

Recommendations

Aurora marijuana: ATB Capital Markets cut its target price from C $ 5 to C $ 4 due to weak recreational sales, erratic international sales and a tight near-term outlook related to a shrinking Canadian medical cannabis market.

Ensign Energy Services: RBC has raised its price target from C $ 6 to C $ 6.5 to reflect increased vein usage and improved margins from higher prices.

Morgard: Due to the current interest rate environment, CIBC has lowered its price target from C $ 180 to C $ 165.

The main indicator on the agenda

07:00 (approx) Advanced index, var. Monthly (April): Previous -0.05%

Publication of results

May 10

Altias Minerals: Forecast of C $ 0.22 per share Q1 earnings

Baush Health Companies: Q1 earnings per share forecast US $ 1.00

Convert technology solutions: Q1 earnings per share forecast for CA $ 0.07

Cronos group: US $ 0.07 per share forecast for Q1

Fair group: C $ 2.10 per share forecast Q1 earnings

Exchange income: C $ 0.10 per share forecast Q1 earnings

Freehold royalty: C $ 0.20 per share forecast Q1 earnings

Innergex Renewable Energy: Forecast C $ 0.01 Q1 loss per share

Intact financial: C $ 2.37 per share forecast Q1 earnings

Ivanho Mine: Q1 earnings per share forecast for US $ 0.06

Cara: C $ 0.46 per share forecast Q1 earnings

Kinarus Gold: Q1 earnings per share forecast for US $ 0.07

Northland power: Forecast of C $ 0.48 per Q1 earnings

New: Q1 earnings per share forecast US $ 0.41

Nuvista energy: Forecast of C $ 0.23 per Q1 earnings

Superior Plus: C $ 0.68 per share forecast Q1 earnings

Tricon Residential: Q1 earnings per share forecast for US $ 0.12

Turquoise Mountain Resources: Q1 earnings per share forecast for US $ 0.28

May 11

Birchcliffe power: C $ 0.32 per Q1 earnings forecast

Boralex: C $ 0.37 per Q1 earnings forecast

Boyd Group Services: Q1 earnings per share forecast US $ 0.10

CCL industry: C $ 0.76 per share forecast Q1 earnings

Fortune Silver Mine: Q1 earnings per share forecast US $ 0.10

Moving: C $ 2.82 per share forecast Q1 earnings

Interface: C $ 7.04 per share Q1 earnings per share

Manual Life Financial: C $ 0.82 per share forecast Q1 earnings

MDA: Forecast C $ 0.02 Q1 loss per share

Osisco Gold Royalty: Q1 earnings per share forecast for CA $ 0.07

Pan American Silver: Q1 earnings per share forecast US $ 0.24

Peto Exploration and Development: C $ 0.55 per share forecast Q1 earnings

Power Corporation of Canada: C $ 0.95 per share forecast Q1 earnings

Sandstorm Gold: Q1 earnings per share forecast for US $ 0.05

Stantech: C $ 0.59 per share forecast Q1 earnings

Stella Jones: C $ 0.68 per share forecast Q1 earnings

Sun Life Financial: C $ 1.41 per share forecast Q1 earnings

Torex Gold Resources: Q1 earnings per share forecast US $ 0.41

Trican Well Service: Forecast C আয় 0.06 Q1 earnings per share

The power of vermilion: C $ 1.87 per share forecast Q1 earnings

Wesdom Gold Mine: C $ 0.12 per share forecast Q1 earnings

WSP Global: C $ 1.10 per share forecast Q1 earnings

Corporate agenda

08:00 Baush Health Organizations: Q1 Income conference call

08:00 Element Fleet Management: Q1 Income conference call

08:30 Cronos Group: Q1 Income conference call

08:30 Hudbay Minerals: Q1 Income conference call

8:30 a.m. Nouveau: Q1 Income conference call

08:30 Belly Value Holdings: Q1 Income conference call

09:30 Cameco: Annual general meeting of shareholders

09:30 Suncor power: Q1 Income conference call

10:00 AM Finishing International: Q1 Income conference call

10:00 am: Q1 Income conference call

10:30 a.m. Ivanhoe Minus: Q1 Income conference call

11:00 AM Ritchie Brothers Auctioneer: Q1 Income conference call

11:30 a.m. Ero Copper: Q1 Income conference call

12:00 Keyera: Annual general meeting of shareholders

12:30 pm Suncor Energy: Annual general meeting of shareholders

2:00 pm Hadbe Minerals: Annual general meeting of shareholders

3:30 pm Element Fleet Management: Annual general meeting of shareholders

4:00 pm Innergex Renewable Energy: Annual general meeting of shareholders

4:00 pm Superior Plus: Annual general meeting of shareholders

5:00 pm International closing: Annual general meeting of shareholders

5:00 pm Nuvista Energy: Annual general meeting of shareholders

5:30 pm Energex Renewable Energy: Q1 Income conference call

6:00 pm Freehold royalty: Annual general meeting of shareholders

Coupon second

No big coupon isolation expected today.

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

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