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Inside the Market

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Entry archive:

Here’s what analysts overall expect U.S. stocks to return in the next 12 months

Luke Kawa

Sell-side analysts do not have great expectations for the performance of U.S. equities over the next year.

According to Pavilion Global Markets, the bottom-up consensus call is for the average stock in the S&P 500 to gain 8.7 per cent during the next 12 months. This is an improvement from late February, where projected appreciation was a little more than 6 per cent, but still near the low end of the range for the past decade.

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Q&A: Ask Arrow Capital's Veronika Hirsch for her top Canadian stock picks

For this week's live chat at Inside the Market, we are joined by Veronika Hirsch, portfolio manager at Arrow Capital Management Inc. Ms. Hirsch is a Canadian equity manager with over 25 years investment experience, and she will share her outlook on the Canadian equity markets, and give some of her favourite stock picks of 2015.

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BMO: Why the oil price rally won’t last

Luke Kawa

Thanks to the recovery in energy prices, oil and gas stocks have been on a fierce rally.

The S&P/TSX Energy index gained more than 3 per cent last week as the price of West Texas Intermediate surged to around the $57 (U.S.) per barrel level.

Falling rig counts appear to finally be translating into a plateau in production, a supply response that may help bring the market into balance and support crude prices.

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Monday’s analyst upgrades and downgrades

DAVID LEEDER

Inside the Market’s roundup of some of today’s key analyst actions. This file will be updated often during the trading day so check back for new details.

Raymond James analyst Ben Cherniavsky said there is an “excess capacity” with Canadian airlines, leading to heavy discounting in the market.

“Until this capacity issue is addressed, we expect the returns for Canada’s airlines to be compromised (despite lower oil prices) and that their stocks will, as a result, continue to trade at a discount to the peers in the U.S. where capacity discipline remains evident,” he said.

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Top links: Global energy sector sees massive surge in investment

SCOTT BARLOW

A roundup of what The Globe and Mail’s market strategist Scott Barlow is reading this morning on the World Wide Web.

Volatility in energy markets is attracting an ocean of hedge fund and other investment capital in another sign of too much money chasing too few global investment opportunities:

“The money keeps piling into oil, with hedge funds, buyout firms and asset managers rushing to claim a spot at the table. “There is just so much money,” said [Jeffries Group Investment banker Joseph Gladbach], who noted that more than $100-billion (U.S.) has been raised and set aside for energy investments by the likes of Blackstone Group LP and Carlyle Group LP.

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Before the bell: Futures higher amid busy day of earnings

Luke Kawa

The Before the Bell report is updated throughout the premarket to reflect the latest news developments and market moves. Check back later for updates.

U.S. equity futures are trading to the upside ahead of the open, setting stocks up to make back some of Friday's huge losses.

The calendar is light on economic data, but big names like Halliburton Co., International Business Machines Corp., and Morgan Stanley publishing their first-quarter results.

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Friday’s small-cap stocks to watch

GILLIAN LIVINGSTON

Our roundup of Canadian small-caps making news and on the move today.

Premium Brands Holdings Corp. (PBH-T), a producer, marketer and distributor of branded specialty food products, announced it has closed the issue and sale of $60-million of 5 per cent convertible unsecured subordinated debentures at a price of $1,000 per debenture, with a maturity date of April 30, 2020.

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Before the bell: Futures plunge after Chinese crackdown

Luke Kawa

The Before the Bell report is updated throughout the premarket to reflect the latest news developments and market moves. Check back later for updates.

U.S. equity futures fell sharply after Chinese regulators made alterations that could derail the world's hottest index.

Chinese policymakers limited the means by retail investors to take on more leverage and opened up the scope for short-selling. Futures for the Asian powerhouse plunged in after-hours trading.

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Thursday’s analyst upgrades and downgrades

LUKE KAWA

Inside the Market’s roundup of some of today’s key analyst actions. This file will be updated often during the trading day so check back for new details.

Proprietary research suggests that current Netflix Inc. subscribers in the United States prefer the service over television, says FBR Capital.

The video-streaming service posted an impressive first-quarter earnings report after the close on Wednesday, adding more subscribers than anticipated to boost its total to 62-million worldwide.

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Thursday’s small-cap stocks to watch

GILLIAN LIVINGSTON

Our roundup of Canadian small-caps making news and on the move today.

NYX Gaming Group Ltd. (NYX-X) reported $27.3-million in revenue for 2014, up 46 per cent from a year ago. Gross profit totalled $24.1-million, an increase of 49 per cent, compared with $16.2-million in 2013. The net loss for the year was $7-million, or 25 cents per share, compared to $1.9-million, or seven cents a share, a year ago “ largely as a result of $6.6-million in acquisition, restructuring and public listing expenses,” the company said.

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Before the bell: Futures slip ahead of Fed member speeches

Luke Kawa

The Before the Bell report is updated throughout the premarket to reflect the latest news developments and market moves. Check back later for updates.

U.S. equity futures are lower ahead of a busy day of earnings and speeches from monetary policymakers.

This afternoon, four speakers from the U.S. Federal Reserve, consisting of two voting members (Dennis Lockhart and Stanley Fischer) and two non-voting members (Loretta Mester and Eric Rosengren) will deliver speeches.

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Wednesday’s analyst upgrades and downgrades

LUKE KAWA

Inside the Market’s roundup of some of today’s key analyst actions. This file will be updated often during the trading day so check back for new details.

Fears over the sustainability of Manitoba Telecom Services Inc.’s dividend have provoked an overly harsh sell-off, according to CIBC.

Unlike other telecoms, which have benefitted from inflows and higher valuations as the price of oil has collapsed, the demand for yield-oriented investments has not worked in Manitoba Telecom’s favour.

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Wednesday’s small-cap stocks to watch

TIM SHUFELT

Our roundup of Canadian small-caps making news and on the move today. Check back for updates.

ProMetic Life Sciences Inc. (PLI-T) said it has entered into a $50-million bought-deal agreement with a syndicate of underwriters led by Canaccord Genuity Corp. The underwriters are purchasing 19.2-million shares of the company at $2.60 each. The company said the proceeds will be used to continue its clinical programs, scale up some manufacturing processes, and increase its manufacturing capabilities.

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Before the bell: Futures rise ahead of a packed economic calendar

Luke Kawa

The Before the Bell report is updated throughout the premarket to reflect the latest news developments and market moves. Check back later for updates.

U.S. equity futures are in positive territory, though a bevy of economic data and earnings release are sure to cause some swings ahead of the open.

Overnight, the big news came from China, where the moderation in growth to a six-year low serves as cause for concern for all commodity-producing countries.

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Tuesday’s analyst upgrades and downgrades

DAVID LEEDER

Inside the Market’s roundup of some of today’s key analyst actions. This file will be updated often during the trading day so check back for new details.

Canaccord Genuity analyst David Tyerman expects a "significant slowing" in earnings per share growth through the 2015 fiscal year for Canadian Pacific Railway Ltd.

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Top links: At long last, signs of declining U.S. oil production

SCOTT BARLOW

A roundup of what The Globe and Mail’s market strategist Scott Barlow is reading this morning on the Web.

The prevalence of financial media means there’s no shortage of self-serving market outlooks that can easily be ignored. Stanley Druckenmiller’s forecast, on the other hand, shouldn’t be overlooked and this is unfortunate because he’s expecting another financial crisis.

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Tuesday’s small-cap stocks to watch

TIM SHUFELT

Our roundup of Canadian small-caps making news and on the move today.

Cara Operations Ltd. (CAO-T) said the over-allotment on its initial public offering was exercised in full, bring the total aggregate gross proceeds to approximately $230.1-million. The net proceeds will be used to repay debt. Following the closing of the offering, Fairfax Financial Holdings Ltd. and members of the Phelan family hold multiple voting shares representing approximately 76 per cent of the company’s total outstanding shares.

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Before the bell: Futures steady, U.S. bank earnings roll in

Luke Kawa

The Before the Bell report is updated throughout the premarket to reflect the latest news developments and market moves. Check back later for updates.

U.S. and Canadian equity futures are steady ahead of a busy day of economic data and earnings.

Retail sales for March proved underwhelming once again, frustrating those looking for evidence that U.S. consumers are breaking out of their winter malaise. The producer price and NFIB small business indexes are also slated to be published this morning.

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Q&A: Franklin Templeton's Stephen Lingard on best bets for investors right now

Tim Shufelt

For this week’s live discussion at Inside the Market, we were joined by Stephen Lingard, a senior vice-president and portfolio manager for Franklin Templeton Solutions. He will be discussing his market outlook and global strategies for investors.

Mr. Lingard shares portfolio management responsibilities for all of Franklin Templeton’s Canada-based multi-asset products. He also co-manages Franklin Templeton Strategic Allocation Funds’ Luxembourg-registered products for European and offshore investors as well as separate institutional accounts for several global clients.

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Time to reconsider the mantra that stocks are an investor's only alternative

IAN McGUGAN

Investors have fallen in love with TINA – the idea that There Is No Alternative to stocks in today’s low interest rate environment.

But this may well be the U.S. earnings season where TINA, like most aging superstars, begins to lose her appeal.

Blame it on three key shifts.

TINA’s first challenge is a drizzle of disappointing economic data. From durable-goods orders to purchasing managers indexes, most of the recent numbers on the state of the giant U.S. economy have been underwhelming.

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