Energy Storage Agreements (ESAs) will upend the coal generating business. I have been traditionally skeptical of the concept pushed by greenies that wind and solar will replace coal and nuclear fuel, and that all we need are windmills and solar panels for as far as the eye can see. Their biggest challenge is the intermittent nature of their generating footprint vs. the grid’s base load requirements satisfied by coal and nuclear. Over the past several years, I have written about this serious flaw. Enter ESAs.
Regulators in California are behind a new business of providing utility-scale back-up battery storage at power generating facilities. Canadian-based AltaGas (OTCPK:ATGFF) recently announced a 10-year Energy Storage Resource Adequacy Purchase Agreement with Southern California Edison SCE, a subsidiary of Edison International (NYSE:EIX). A recap of the scope of the contract is described below, from ATGFF’s press release:
Top 10 Canadian Stocks To Own For 2019: Canadian Imperial Bank of Commerce(CM)
Advisors’ Opinion:
- [By Stephan Byrd]
Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) declared a quarterly dividend on Wednesday, May 23rd, Zacks reports. Stockholders of record on Thursday, June 28th will be paid a dividend of 1.036 per share by the bank on Friday, July 27th. This represents a $4.14 dividend on an annualized basis and a dividend yield of 4.63%. The ex-dividend date is Wednesday, June 27th.
- [By Garrett Baldwin]
We’re about to reveal a little wealth secret that could unlock the trade of a lifetime.Money MorningSpecial Situation Strategist Tim Melvin takes you inside what could easily be a 10-bagger for investors in the weeks ahead.Read more right here.
The Top Stock Market Stories for Tuesday
The Euro has plunged to its lowest point against the U.S. dollar in 2018 thanks to political problems in Europe. The breakdown of power in Italy has raised new concerns about the nations ability to repay its debts, as the spread between German and Italian bonds has widened. Market instability has also spread to Spain where the nations parliament is preparing to vote on whether to oust Prime Minister Mariano Rajoy and his party. Oil prices slid one news that OPEC and Russia will consider hikes in production during a meeting in Vienna, Austria on June 22nd. The news accompanied reports that U.S. production is expected to rise throughout the summer. The price of WTI oil sat at $67.20 per barrel. The Brent crude oil price recovered this morning, adding 1% to hit $76.12. Canadian banks are under pressure this morning over a major breach by cyber criminals. The Bank of Montreal (NYSE: BMO) and the Canadian Imperial Bank of Commerce (NYSE: CM) the two largest banking institutions in the country announced that roughly 90,000 customers data may have been stolen. This would be the first major cybersecurity event to happen in Canada involving financial firms.
Three Stocks to Watch Today: CRM, SBUX, MOMO
com (NYSE: CRM) will lead a busy day of earnings reports on Wall Street. The cloud computing giant is set to report fiscal first quarter 2019 numbers after the bell on Tuesday. The average analyst projection calls for a 46% jump in EPS of $0.46 on top of a 23% gain in revenue to $2.94 billion. Starbucks Corporation (Nasdaq: SBUX) will temporarily close about 8,000 locations on Tuesday to train roughly 175,000 employees on racial bias. The training sessions were - [By Lisa Levin] Companies Reporting Before The Bell
Target Corporation (NYSE: TGT) is estimated to report quarterly earnings at $1.38 per share on revenue of $16.50 billion.
Ralph Lauren Corporation (NYSE: RL) is expected to report quarterly earnings at $0.83 per share on revenue of $1.48 billion.
Lowe's Companies, Inc. (NYSE: LOW) is projected to report quarterly earnings at $1.25 per share on revenue of $17.63 billion.
Tiffany & Co. (NYSE: TIF) is estimated to report quarterly earnings at $0.83 per share on revenue of $957.49 million.
Canadian Imperial Bank of Commerce (NYSE: CM) is expected to report quarterly earnings at $2.23 per share on revenue of $3.40 billion.
Citi Trends, Inc. (NASDAQ: CTRN) is projected to report quarterly earnings at $0.9 per share on revenue of $210.70 million.
Qiwi plc (NASDAQ: QIWI) is expected to report quarterly earnings at $0.25 per share on revenue of $60.19 million.
iClick Interactive Asia Group Limited (NASDAQ: ICLK) is projected to report quarterly loss at $0.06 per share on revenue of $34.87 million.
Top 10 Canadian Stocks To Own For 2019: Safeway Inc.(SWY)
Advisors’ Opinion:
- [By Jim Robertson]
In addition, Goldcorps (NYSE: GG) l茅onore mine in the heart of the territory along with the Troilus mine (which produced over 2 million ounces of gold from 1997-2010 and is estimated to have another remaining 2 million ounces of reserves) are helping to maintain the interest of junior exploration companies in nearby properties. The same can be said about the Otish Mountainsarea following the discovery of diamonds byStornoway Diamond Corporation (TSX: SWY) at their Renard diamond mine which is projected to produce 1.5-2 millions carats per year.
Top 10 Canadian Stocks To Own For 2019: Patni Computer Systems Limited(PTI)
Advisors’ Opinion:
- [By Chris Lange]
Proteostasis Therapeutics Inc. (NASDAQ: PTI) saw its shares slide early on Thursday after the company reported that it had positive data from its early stage trial in cystic fibrosis (CF). These results come from the firms ongoing Phase 1 dosing study of PTI-801 in CF patients on background Orkambi (lumacaftor/ivacaftor) therapy.
Top 10 Canadian Stocks To Own For 2019: Sensata Technologies Holding N.V.(ST)
Advisors’ Opinion:
- [By Ethan Ryder]
Oppenheimer Asset Management Inc. cut its stake in Sensata Technologies Ltd (NYSE:ST) by 15.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 32,199 shares of the scientific and technical instruments company’s stock after selling 6,012 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Sensata Technologies were worth $1,625,000 at the end of the most recent reporting period.
- [By Lisa Levin] Companies Reporting Before The Bell
United Technologies Corporation (NYSE: UTX) is estimated to report quarterly earnings at $1.51 per share on revenue of $14.62 billion.
The Coca-Cola Company (NYSE: KO) is expected to report quarterly earnings at $0.46 per share on revenue of $7.31 billion.
Caterpillar Inc. (NYSE: CAT) is projected to report quarterly earnings at $2.07 per share on revenue of $11.93 billion.
Verizon Communications Inc. (NYSE: VZ) is expected to report quarterly earnings at $1.11 per share on revenue of $31.22 billion.
Lockheed Martin Corporation (NYSE: LMT) is estimated to report quarterly earnings at $3.42 per share on revenue of $11.28 billion.
The Sherwin-Williams Company (NYSE: SHW) is projected to report quarterly earnings at $3.15 per share on revenue of $3.94 billion.
Biogen Inc. (NASDAQ: BIIB) is expected to report quarterly earnings at $5.92 per share on revenue of $3.15 billion.
3M Company (NYSE: MMM) is estimated to report quarterly earnings at $2.52 per share on revenue of $8.26 billion.
JetBlue Airways Corporation (NASDAQ: JBLU) is projected to report quarterly earnings at $0.2 per share on revenue of $1.75 billion.
Eli Lilly and Company (NYSE: LLY) is expected to report quarterly earnings at $1.13 per share on revenue of $5.49 billion.
Harley-Davidson, Inc. (NYSE: HOG) is estimated to report quarterly earnings at $0.88 per share on revenue of $1.25 billion.
Corning Incorporated (NYSE: GLW) is expected to report quarterly earnings at $0.3 per share on revenue of $2.50 billion.
Centene Corporation (NYSE: CNC) is projected to report quarterly earnings at $1.88 per share on revenue of $13.28 billion.
The Travelers Companies, Inc. (NYSE: TRV) is estimated to report quarterly earnings at $2.77 per share on revenue of $6.75 billion.
Wipro Limited (NYSE: WIT) is expected to report quarterly earnings at $0.07 per share on revenue of $2.16 billion.
PACCAR Inc (NASDAQ: PCAR) is projected to - [By Max Byerly]
Get a free copy of the Zacks research report on Sensata Technologies (ST)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
- [By Ethan Ryder]
News coverage about Sensata Technologies (NYSE:ST) has trended somewhat positive recently, Accern Sentiment Analysis reports. The research firm ranks the sentiment of media coverage by monitoring more than 20 million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. Sensata Technologies earned a news sentiment score of 0.15 on Accern’s scale. Accern also assigned media headlines about the scientific and technical instruments company an impact score of 47.3141406855551 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the next few days.
- [By Logan Wallace]
Get a free copy of the Zacks research report on Sensata Technologies (ST)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Top 10 Canadian Stocks To Own For 2019: Transcananda Pipelines Ltd.(TRP)
Advisors’ Opinion:
- [By Matthew DiLallo]
Enbridge just bought its stake in the German offshore wind farm projectslast year, initially agreeing to invest about $1.25 billion for a 50% stake. However, with concerns growing about its balance sheet and ability to finance growth projects, the company has chosen to monetize part of this asset. It’s also monetizing its onshore renewable facilities in Canada and two in the U.S. to bring in some much-needed cash. This decision to cash in on a portion of its renewable portfolio follows a similar plan by fellow Canadian pipeline giant TransCanada (NYSE:TRP), which sold its solar assets in Ontario last year. The driving factor in that decision was TransCanada’s desire to improve its financial flexibility so that it could “continue to build on our vision of being North America’s leading energy infrastructure company,” said CEO Russ Girling. What’s clear from these deals is that neither TransCanada nor Enbridge sees renewables playing a key role in building the companies they envision themselves being.
- [By Matthew DiLallo]
TransCanada’s (NYSE:TRP) expansion efforts continued paying dividends during the first quarter as earnings and cash flow kept growing. As a result, the Canadian pipeline giant remains on track to achieve its dividend growth targets. CEO Russ Girling affirmed that view on the quarterly conference call, where he detailed the company’s progress on its strategic plan.
- [By Joseph Griffin]
TC PIPELINES LP Common Stock (NYSE: TRP) and Rice Midstream Partners (NYSE:RMP) are both oils/energy companies, but which is the superior stock? We will compare the two companies based on the strength of their analyst recommendations, profitability, earnings, dividends, valuation, risk and institutional ownership.
- [By Matthew DiLallo]
However, not all energy stocks have enjoyed an up year. Two of those laggards are TransCanada (NYSE:TRP) and Williams Companies (NYSE:WMB), which have both sold-off by double digits. Those declines have pushed their dividend yields above 5%, making them great options for income-focused investors to consider buying.
- [By Jason Hall]
Priestley:Yeah,absolutely. The last company is also on this natural gas trend,it’s TransCanada (NYSE:TRP), ticker TRP. It’s aCanadian energy infrastructure company. They have assets in the U.S.,Canada, obviously, and Mexico. Theyoperate 40,000 miles of natural gas pipeline. Anotable project that they operate is the Keystone XL Pipeline and theKeystone Pipeline system. Italso has interests in 20 powergeneration facilities,mostly in Canada. And, they have significant scale as a midstream company. I kind of like these midstream players, because they’re really winners,so to speak, in a lot of respects. A lot of the contracts that they make with the oil refiners or the oilcompanies themselves are 15-20-year contracts.
Top 10 Canadian Stocks To Own For 2019: Prestige Brand Holdings Inc.(PBH)
Advisors’ Opinion:
- [By Stephan Byrd]
SG Americas Securities LLC increased its position in Prestige Brands (NYSE:PBH) by 103.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,597 shares of the company’s stock after acquiring an additional 8,431 shares during the period. SG Americas Securities LLC’s holdings in Prestige Brands were worth $560,000 at the end of the most recent reporting period.
- [By Stephan Byrd]
Premium Brands (TSE:PBH) had its target price increased by TD Securities from C$140.00 to C$145.00 in a research note published on Thursday. The firm currently has an action list buy rating on the stock.
- [By Lisa Levin]
On Thursday, the health care shares rose 1.02 percent. Meanwhile, top gainers in the sector included ARMO BioSciences, Inc. (NASDAQ: ARMO), up 67 percent, and Prestige Brands Holdings, Inc. (NYSE: PBH) up 28 percent.
- [By Lisa Levin] Gainers
Turtle Beach Corporation (NASDAQ: HEAR) surged 87.1 percent to $12.98 after the company reported Q1 results and raised its FY18 outlook.
ARMO BioSciences, Inc. (NASDAQ: ARMO) shares jumped 66.8 percent to $49.735 after Eli Lilly and Company (NYSE: LLY) announced plans to acquire ARMO BioSciences for $50 per share.
vTv Therapeutics Inc. (NASDAQ: VTVT) gained 34 percent to $2.2920 following announcement that the company will pre-specify new subgroup with the FDA and report Phase 3 Part B results in June.
Prestige Brands Holdings, Inc. (NYSE: PBH) climbed 22.3 percent to $34.84 after the company posted upbeat Q4 earnings.
Depomed, Inc. (NASDAQ: DEPO) shares jumped 22.2 percent to $7.28 following better-than-expected Q1 earnings.
Everspin Technologies, Inc. (NASDAQ: MRAM) gained 19.8 percent to $8.89 after the company reported strong results for its first quarter.
Luxfer Holdings PLC (NYSE: LXFR) surged 19.8 percent to $17.10 following Q1 results.
Clean Energy Fuels Corp. (NASDAQ: CLNE) rose 18.3 percent to $2.26 after French company Total announced plans to acquire 25 percent stake in Clean Energy Fuels for $83.4 million.
Intelligent Systems Corporation (NYSE: INS) gained 17 percent to $7.116.
Green Dot Corporation (NYSE: GDOT) surged 15.3 percent to $73.00 after reporting upbeat Q1 earnings.
The Chefs' Warehouse, Inc. (NASDAQ: CHEF) climbed 15 percent to $28.85. Chefs' Warehouse posted Q1 earnings of $0.03 per share on sales of $318.6 million.
Westport Fuel Systems Inc. (NASDAQ: WPRT) rose 14.2 percent to $2.9701.
Wright Medical Group N.V. (NASDAQ: WMGI) jumped 13.8 percent to $23.87 after reporting upbeat quarterly earnings.
Diplomat Pharmacy, Inc. (NYSE: DPLO) gained 13.4 percent to $22.70. Diplomat named Brian Griffin as Chairman and CEO.
Carvana Co. (NYSE: CVNA) shares rose 13 percent to $27.97 after reporting upbeat Q1 sales.
Prothena Corporation plc (NASDAQ: PRTA) gained 12 percent to $15.19
Top 10 Canadian Stocks To Own For 2019: Wells Fargo & Company(WFC)
Advisors’ Opinion:
- [By Matthew Frankel]
As far as positive surprises go,Wells Fargo(NYSE:WFC) was probably the biggest positive surprise. I probably don’t have to tell most listeners, Wells Fargo hasn’t had the best couple of years,when it comes to their fake accounts scandal, the fallout from that, the other mini scandals along the way, and just recently, their punishment by the same Federal Reserve that says they’re not allowed to grow until they improve. They actually got the approval to buy backmore than twice the amount of stock that they did last year.One, that says a lot about how well-capitalized they are. Two, it alsosays a lot that theirmanagement’s willing to do that, that they think that their stock is at such a compelling bargain right now that they’re willing to spend over $25 billion on buybacks alone.
- [By Garrett Baldwin]
Former Wells Fargo & Co. (NYSE: WFC) CEO Dick Kovacevich called Bitcoin a “pyramid scheme” and said he believes it to be just another scam.
“It makes no sense. I’m just surprised it isn’t even lower,” he said about Bitcoin during an interview with CNBC.
- [By Chris Lange]
Wells Fargo & Co. (NYSE: WFC) short interest shrank to 31.68 million shares from the previous reading of 35.77 million. Shares were trading at $52.10, within a 52-week range of $49.27 to $66.31.
- [By Paul Ausick]
Buffett also stuck by his long-term commitment to Wells Fargo & Co. (NYSE: WFC) which now amounts to about 10% of the bank’s outstanding stock. He almost seemed to excuse the fake account scandal with a comment that what happened at Wells Fargo could have happened to any bank. The scandal was the result of heavy corporate pressure on branch managers to increase sales. As a result, said Buffett, “Wells Fargo is a company that proved the efficacy of incentives and it’s just that they had the wrong incentives.”
- [By ]
The most noteworthy takeaways from Berkshire’s weekend:
Buffett remains bullish on Wells Fargo (WFC) and CEO Tim Sloan despite its spate of scandals. A CEO for Berkshire’s healthcare initiatives with JPMorgan & Chase (JPM) and Amazon (AMZN) is expected to be announced in a few months. Both Buffett and Munger continue to think valuations on potential targets remain too high. Keep an Eye on PayPal
PayPal (PYPL) is due for a good session on Monday after CEO Dan Schulman gave a bullish 45 minute interview with Jim Cramer at TheStreet’s Investor Boot Camp conference on Saturday. Schulman easily downplayed the threat of Amazon in mobile payments.
Top 10 Canadian Stocks To Own For 2019: PPL Corporation(PPL)
Advisors’ Opinion:
- [By Paul Ausick]
PPL Corp. (NYSE: PPL) posted a 52-week low of $31.11 after closing Wednesday at $31.59. The 52-week high is $40.20. Volume was about 9.6 million, more than double the daily average of around 4.2 million shares. The electric utility company had no specific news.
- [By Paul Ausick]
PPL Corp. (NYSE: PPL) dropped about 4.3% Wednesday to post a new 52-week low of $25.73. Shares closed at $26.88 on Tuesday and the stock’s 52-week high is $39.90. The company goes ex-dividend tomorrow.
- [By Joseph Griffin]
Wall Street brokerages expect Pembina Pipeline (NYSE:PBA) (TSE:PPL) to report $1.51 billion in sales for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Pembina Pipeline’s earnings, with the lowest sales estimate coming in at $1.19 billion and the highest estimate coming in at $1.83 billion. Pembina Pipeline posted sales of $866.72 million during the same quarter last year, which would indicate a positive year over year growth rate of 74.2%. The firm is expected to issue its next quarterly earnings results on Tuesday, August 7th.
- [By Joseph Griffin]
ValuEngine cut shares of Pembina Pipeline (NYSE:PBA) (TSE:PPL) from a hold rating to a sell rating in a research note released on Monday.
Separately, Zacks Investment Research lowered Pembina Pipeline from a strong-buy rating to a hold rating in a research note on Wednesday, May 2nd. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $37.00.
Top 10 Canadian Stocks To Own For 2019: Chipotle Mexican Grill Inc.(CMG)
Advisors’ Opinion:
- [By Motley Fool Staff]
Chipotle Mexican Grill (NYSE:CMG) Q1 2018 Earnings Conference CallApril 25, 2018 4:30 p.m. ET
Contents:
Prepared Remarks Questions and Answers Call Participants
Prepared Remarks:Operator
- [By Daniel B. Kline]
For years, Chipotle Mexican Grill (NYSE:CMG) kept its menu fairly rigid. It rarely added anything new, and when it did, it was a major event.
Now, the company plans to change that. It has a slew of new items — nachos, avocado tostadas, quesadillas, chocolate milkshakes, and more — being tested at its NEXT Kitchen in New York. Not all of these items, though, will necessarily make it to the chain’s restaurants.
- [By Lisa Levin]
Shares of Chipotle Mexican Grill, Inc. (NYSE: CMG) got a boost, shooting up 25 percent to $423.49 as the company reported stronger-than-expected earnings for its first quarter on Wednesday.
- [By ]
Historically, Chipotle Mexican Grill (NYSE:CMG) has been slow to roll out new menu items. The Chipotle formula worked so well for so long that there was little reason to tinker. But the food safety crisis of 2015 led to massive sales declines, and the fallout continues to plague the fast-casual chain to this day. With customer traffic slumping more than 3% in the first quarter, Chipotle’s strategy clearly needs to change.
- [By Lisa Levin] Gainers
Genprex, Inc. (NASDAQ: GNPX) shares gained 86.76 percent to close at $11.00 on Thursday.
Comstock Resources, Inc. (NYSE: CRK) shares climbed 47.06 percent to close at $7.00 after the company disclosed a deal with Arkoma Drilling L.P. and Williston Drilling, L.P. to buy oil & gas properties in North Dakota. Comstock announced withdrawal of tender offers for outstanding secured notes.
Ceridian HCM Holding Inc. (NASDAQ: CDAY) gained 41.86 percent to close at $31.21.
MarineMax, Inc. (NYSE: HZO) shares rose 26.5 percent to close at $22.20 as the company posted upbeat Q2 results and raised its FY18 outlook.
Concord Medical Services Holdings Limited (NYSE: CCM) jumped 24.92 percent to close at $4.06.
Mattersight Corporation (NASDAQ: MATR) shares climbed 23.26 percent to close at $2.65 after the company agreed to be purchased by NICE Ltd.
Chipotle Mexican Grill, Inc. (NYSE: CMG) rose 24.44 percent to close at $422.50 as the company reported stronger-than-expected results for its first quarter on Wednesday.
Ultra Clean Holdings, Inc. (NASDAQ: UCTT) gained 17.75 percent to close at $18.64 following upbeat Q1 earnings.
PCM, Inc. (NASDAQ: PCMI) rose 16.59 percent to close at $12.30 following Q1 results.
Zymeworks Inc. (NASDAQ: ZYME) rose 16.06 percent to close at $15.25.
Alexion Pharmaceuticals, Inc. (NASDAQ: ALXN) shares climbed 14.5 percent to close at $121.42 as the company posted reported Q1 beat And raised FY18 outlook.
Advanced Micro Devices, Inc. (NASDAQ: AMD) shares gained 13.7 percent to close at $11.04 as the company reported upbeat results for its first quarter.
Axsome Therapeutics, Inc. (NASDAQ: AXSM) rose 13.21 percent to close at $3.00 after the company disclosed a positive outcome of the interim analysis of STRIDE-1 Phase 3 trial of AXS-05 in treatment resistant depression.
O'Reilly Automotive, Inc. (NASDAQ: ORLY) jumped 13.06 percent to close at $257.40 following upbeat Q1 profit.
BioTelemetry, - [By Timothy Green]
Shares of Chipotle Mexican Grill (NYSE:CMG) rocketed higher earlier this year when Taco Bell veteran Brian Niccol was named CEO of the struggling fast-casual chain. But now there seems to be a bit of buyer’s remorse.
Top 10 Canadian Stocks To Own For 2019: Rhino Resource Partners LP(RNO)
Advisors’ Opinion:
- [By Shane Hupp]
Deutsche Bank set a €115.00 ($133.72) target price on Renault (EPA:RNO) in a report released on Friday morning. The firm currently has a buy rating on the stock.
- [By Ethan Ryder]
Renold (LON:RNO) announced its earnings results on Tuesday. The company reported GBX 4.50 ($0.06) EPS for the quarter, meeting analysts’ consensus estimates of GBX 4.50 ($0.06), Bloomberg Earnings reports. Renold had a return on equity of 201.92% and a net margin of 4.30%.
