North American Morning Briefing : Dow Set For New -2-

December 14, 2023 at 06:06 am EST

TMX to Acquire Remaining 78% of VettaFi Common Units for $848M; Deal Brings Total Amount to Be Paid for Full Ownership to $1.03B; TMX Made Strategic Investments in 1H for About 22% of VettaFi Common Units; Deal Expected to Be Accretive to Adjusted EPS in Year One; TMX to Finance Deal With Committed Bank Debt; TMX to Assume $100M VettaFi Debt to Retire With Funds Under New Term Loan; VettaFi Will Be Included in TMX's Global Solutions, Insights & Analytics Segment; Deal to Close in January 2024; Deal Increases Proportion of Revenue From Recurring, Global Sources; Deal Expands Capabilities in Data-Driven Analytics, Indexing Solutions; VettaFi Is a US-based, Indexing, Digital Distribution, Analytics Company

Economic Insight

Canadian Household Debt Service Ratio Elevated and Rising

Canadian household debt ratios continued to improve in 3Q, though modestly, as elevated interest rates weigh on loan demand, but high-debt service costs are pressuring consumer spending, BMO Economics' Shelly Kaushik notes.

The country's household debt-to-income ratio edged down 0.3 percentage point to 181.6% and on an adjusted basis disposable incomes rose faster than debt. Still, the household debt service ratio rose to a record-high 15.2% and given the lag in mortgage renewals that ratio is likely to climb, the economist says.

"With rates likely to remain above levels seen in the post-GFC period, household debt metrics are poised to follow a downward path." (robb.stewart@wsj.com; @RobbMStewart)

Expected Major Events for Thursday

00:01/UK: Nov RICS Residential Market Survey

04:30/JPN: Oct Revised Industrial Production

09:00/FRA: Dec IEA Oil Market Report

09:00/GER: Ifo Economic Forecast

11:00/FRA: 3Q OECD Quarterly National Accounts G20 GDP growth

12:00/UK: Agents' Summary of Business Conditions

12:00/UK: UK interest rate decision

13:00/RUS: Weekly International Reserves

13:30/CAN: Oct New motor vehicle sales

13:30/US: Nov Import & Export Price Indexes

13:30/CAN: Oct Monthly Survey of Manufacturing

13:30/US: Nov Advance Monthly Sales for Retail & Food Services

13:30/US: 12/09 Unemployment Insurance Weekly Claims Report - Initial Claims

13:30/US: U.S. Weekly Export Sales

15:00/US: Oct Manufacturing & Trade: Inventories & Sales

15:30/US: 12/08 EIA Weekly Natural Gas Storage Report

21:30/US: Foreign Central Bank Holdings

21:30/US: Federal Discount Window Borrowings

All times in GMT. Powered by Kantar Media and Dow Jones.

Expected Earnings for Thursday

Aberdeen International (AAB.T,AABVF) is expected to report for 3Q.

AltiGen Communications (ATGN) is expected to report for 4Q.

Cenntro Electric Group Ltd (CENN) is expected to report for 3Q.

Costco Wholesale Corp (COST) is expected to report $3.44 for 1Q.

Daily Journal (DJCO) is expected to report for 4Q.

Empire Co (EMLAF,EMP.A.T) is expected to report for 2Q.

Enghouse Systems (ENGH.T) is expected to report $0.38 for 4Q.

Good Times Restaurants Inc (GTIM) is expected to report for 4Q.

HEXO Corp (HEXO,HEXO-T) is expected to report for 1Q.

Jabil Inc (JBL) is expected to report $2.35 for 1Q.

Lennar Corp - A Share (LEN,LENB) is expected to report $4.59 for 4Q.

Live Ventures Inc (LIVE) is expected to report for 4Q.

Mega Uranium is expected to report for 4Q.

Mesa Air Group Inc (MESA) is expected to report $0.22 for 4Q.

NASB Financial (NASB) is expected to report for 3Q.

PhenixFIN Corp (PFX) is expected to report for 4Q.

Quanex Building Products Corp (NX) is expected to report $0.72 for 4Q.

RCI Hospitality Holdings Inc (RICK) is expected to report $1.02 for 4Q.

RVL Pharmaceuticals PLC (RVLPQ) is expected to report for 3Q.

Scholastic Corp (SCHL) is expected to report $2.65 for 2Q.

Starcore International Mines is expected to report for 2Q.

Transat AT (TRZ.T) is expected to report $-1.75 for 4Q.

WeWork Inc (WEWKQ) is expected to report for 3Q.

ANALYST RATINGS ACTIONS

Agree Realty Cut to Neutral From Outperform by Exane BNP Paribas

Ally Financial Inc Raised to Equal-Weight From Underweight by Morgan Stanley

Aveanna Healthcare Cut to Underweight From Neutral by JP Morgan

Bread Financial Cut to Underweight From Equal-Weight by Morgan Stanley

C4 Therapeutics Raised to Buy From Hold by Stifel

Capital One Raised to Equal-Weight From Underweight by Morgan Stanley

Church & Dwight Cut to Sell From Neutral by Citigroup

Coherent Cut to Equal-Weight From Overweight by Morgan Stanley

DR Horton Raised to Outperform From Market Perform by Keefe, Bruyette & Woods

Evofem Biosciences Cut to Hold From Buy by Laidlaw & Co.

Health Catalyst Raised to Overweight From Neutral by JP Morgan

Hertz Global Cut to Perform From Outperform by Oppenheimer

Hillman Solutions Cut to Equal-Weight From Overweight by Barclays

Incyte Raised to Outperform From Market Perform by Leerink Partners

Inspire Medical Systems Cut to Equal-Weight From Overweight by Wells Fargo

Johnson & Johnson Cut to Equal-Weight From Overweight by Wells Fargo

MFA Financial Raised to Outperform From Market Perform by Keefe, Bruyette & Woods

Model N Cut to Neutral From Overweight by JP Morgan

Mohawk Raised to Equal-Weight From Underweight by Barclays

MSCI Inc Raised to Overweight From Equal-Weight by Morgan Stanley

Netstreit Cut to Neutral From Outperform by Exane BNP Paribas

Opendoor Technologies Raised to Market Perform From Underperform by Keefe, Bruyette & Woods

Q2 Holdings Raised to Neutral From Underweight by Piper Sandler

R1 RCM Cut to Neutral From Overweight by JP Morgan

Radian Group Raised to Outperform From Market Perform by Keefe, Bruyette & Woods

Realty Income Raised to Outperform From Neutral by Exane BNP Paribas

RxSight Raised to Overweight From Equal-Weight by Wells Fargo

Trex Co Cut to Underweight From Equal-Weight by Barclays

Visteon Cut to Neutral From Outperform by Exane BNP Paribas

Walker & Dunlop Cut to Market Perform From Outperform by Keefe, Bruyette & Woods

Western Midstream Ptrs Cut to Underperform From Buy by B of A Securities

Xponential Fitness Raised to Buy From Hold by Stifel

Zurn Elkay Water Soltns Cut to Sector Weight From Overweight by Keybanc

This article is a text version of a Wall Street Journal newsletter published earlier today.

(END) Dow Jones Newswires

12-14-23 0605ET

Add to a list Add to a list 0 selected To use this feature you must be a member Log in Sign up	Price	Change	5d. change	Capi.
ENGHOUSE SYSTEMS LIMITED	29.93 CAD	-0.17%	-1.90%	1.21B
MEGA URANIUM LTD.	0.38 CAD	+1.33%	+4.83%	102M
STARCORE INTERNATIONAL MINES LTD.	0.105 CAD	-4.55%	+5.00%	5.54M
TRANSAT A.T. INC.	3.57 CAD	+2.88%	+5.31%	101M
Q2 HOLDINGS, INC.	53.28 USD	+0.74%	+6.56%	3.15B
EVOFEM BIOSCIENCES, INC.	0.0168 USD	+17.96%	+9.09%	929K
CITIGROUP INC.	62.66 USD	+1.41%	+5.95%	120B
TREX COMPANY, INC.	90.53 USD	+1.25%	+3.52%	9.84B
RVL PHARMACEUTICALS PLC	0.000001 USD	-99.00%	0.00%	111
MFA FINANCIAL, INC.	10.73 USD	+1.80%	+2.88%	1.1B
INSPIRE MEDICAL SYSTEMS, INC.	237.4 USD	+2.79%	+3.59%	7.19B
DAILY JOURNAL CORPORATION	346.8 USD	-0.06%	-0.34%	478M
HEALTH CATALYST, INC.	6.03 USD	+7.68%	+8.06%	353M
VISTEON CORPORATION	112.2 USD	+2.31%	+3.73%	3.1B
BREAD FINANCIAL HOLDINGS, INC.	36.97 USD	+0.87%	+7.22%	1.83B
EMPIRE COMPANY LIMITED	32 CAD	-1.17%	+0.98%	5.69B
BNP PARIBAS	67.01 EUR	-1.97%	+2.41%	80.91B
NETSTREIT CORP.	17 USD	-0.12%	-0.35%	1.25B
C4 THERAPEUTICS, INC.	6.17 USD	-1.12%	-8.18%	423M
OPENDOOR TECHNOLOGIES INC.	2.14 USD	+3.38%	-1.38%	1.48B
BARCLAYS PLC	204.4 GBX	+0.17%	+9.96%	38.15B
TMX GROUP LIMITED	36.38 CAD	+0.94%	+0.78%	7.36B
LENNAR CORPORATION	154.3 USD	+0.98%	+2.73%	42.57B
MESA AIR GROUP, INC.	0.9199 USD	-0.93%	+8.85%	37.66M
AVEANNA HEALTHCARE HOLDINGS INC.	2.2 USD	0.00%	-3.93%	423M
WELLS FARGO & COMPANY	59.91 USD	-0.03%	-0.73%	210B
RXSIGHT, INC.	52.77 USD	+1.70%	+2.31%	1.96B
XPONENTIAL FITNESS, INC.	12.81 USD	+2.73%	-2.59%	405M
PIPER SANDLER COMPANIES	197.2 USD	+2.67%	+6.13%	3.51B
HILLMAN SOLUTIONS CORP.	9.74 USD	+0.62%	+4.06%	1.98B
QUANEX BUILDING PRODUCTS CORPORATION	33.81 USD	+0.45%	-2.40%	1.12B
WEWORK INC.	0.13 USD	+8.33%	-7.14%	6.86M
CENNTRO ELECTRIC GROUP LIMITED	1.47 USD	-2.00%	-3.92%	45.32M
ALLY FINANCIAL INC.	39.3 USD	+0.41%	+0.64%	11.95B
COHERENT CORP.	55.06 USD	+4.12%	+11.77%	8.36B
HERTZ GLOBAL HOLDINGS, INC.	4.42 USD	-5.56%	-25.96%	1.35B
DR HORTON	145.3 USD	+0.78%	+2.21%	47.86B
RADIAN GROUP INC.	30.35 USD	+0.13%	+2.33%	4.6B
SCHOLASTIC CORPORATION	36.42 USD	+0.94%	+2.07%	1.03B
JABIL INC.	118.3 USD	-0.18%	-0.40%	14.26B
COSTCO WHOLESALE CORPORATION	729.2 USD	+1.01%	+2.77%	323B
MSCI, INC.	477.8 USD	+2.86%	-6.33%	37.85B
ABERDEEN INTERNATIONAL INC.	0.025 CAD	+25.00%	+25.00%	2.65M
INCYTE CORPORATION	51.68 USD	+0.98%	-1.28%	11.6B
AGREE REALTY CORPORATION	57.77 USD	-0.48%	+2.14%	5.8B
ZURN ELKAY WATER SOLUTIONS CORPORATION	31.7 USD	-0.56%	+0.03%	5.47B
REALTY INCOME CORPORATION	53.71 USD	-0.17%	+1.26%	46.25B
R1 RCM INC.	11.82 USD	-0.17%	-1.42%	5.01B
RCI HOSPITALITY HOLDINGS, INC.	50.57 USD	-0.20%	-2.07%	473M
MORGAN STANLEY	92.83 USD	+0.29%	+2.39%	151B
SILVER	27.2 USD	-0.52%	-5.11%	-
WTI	83.53 USD	0.00%	+1.68%	-
S&P GSCI NATURAL GAS INDEX	90.04 PTS	-3.17%	-3.17%	-
S&P GSCI GOLD INDEX	1,367 PTS	+0.20%	-2.12%	-
GOLD	2,338 USD	+0.31%	-2.25%	-
BRENT CRUDE OIL SPOT	88.07 USD	+0.10%	+1.75%	-

Stock Market News in real time

North American Morning Briefing : Dow Set For New -2-

Stocks mentioned in the article

Headlines

Most Read News