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North American Morning Briefing: Investors Seek -2-

08/17/2022 | 05:12am EST

Japan's exports rose for the 17th month in a row in July, driven by strong demand for autos and mineral fuels, Ministry of Finance data showed Wednesday.

Exports rose 19% in July from a year earlier, which was slightly stronger than the 18.2% increase expected by economists surveyed by FactSet. Exports rose 19.4% in June.


U.S. to Buy Ukraine Grain, as Ship Traffic Increases

The U.S. Agency for International Development is spending more than $68 million to purchase and ship Ukrainian grain in the largest such export deal since Russia's invasion this year and the start of a July agreement to allow for renewed shipments from Ukraine's Black Sea ports.

USAID is providing the funds to the World Food Program, a United Nations agency that historically gets the biggest part of its grain from Ukraine, to purchase, ship and store up to 150,000 metric tons of wheat, the agency said.


Mexico's Largest Shadow Bank Begins Restructuring as Funding Dries Up

Unifin Financiera SAB, Mexico's largest shadow bank, is gearing up to restructure the company and most of its debt after a string of recent accounting scandals at other unregulated lenders led investors to pull back from the country's once-burgeoning industry.

Since Unifin said last week that it plans to restructure, bondholders have tapped law firm Akin Gump Strauss Hauer & Feld LLP and investment bank Houlihan Lokey Inc. to represent them, according to people familiar with the matter. Unifin said its chairman and largest shareholder, Rodrigo Lebois, would head its restructuring committee and lead negotiations with the company's biggest creditors to stabilize its balance sheet and liquidity.


North Korea Resumes Weapons Activity With Two Cruise-Missile Launches

SEOUL-North Korea fired two cruise missiles on Wednesday morning, returning to weapons activity for the first time in two months after having recently declared victory over its Covid-19 outbreak.

The missiles were launched from South Pyongan province, South Korea's military said, without specifying the flight distance, altitude or the precise launch time. North Korea hadn't conducted a weapons test since June 5, when it fired eight short-range ballistic missiles.


Liz Cheney Concedes to Trump-Backed Challenger in Wyoming Primary

U.S. Rep. Liz Cheney conceded defeat Tuesday in the Republican primary in Wyoming, an outcome that was a priority for former President Donald Trump as he urged GOP voters to reject one of his most prominent critics on Capitol Hill.

Ms. Cheney was the last House Republican to face a primary among the 10 who voted to impeach Mr. Trump for his actions related to the Jan. 6 Capitol riot. She was defeated by Harriet Hageman, a water and natural resources attorney who was endorsed by the former president.


Sarah Palin Advances in Alaska House Race

Sarah Palin, the former governor and 2008 vice-presidential hopeful, advanced to the November general election in the race for Alaska's only House seat, the Associated Press projected.

The race will be a competition between the top four candidates, under a new ranked-choice voting system.


Write to paul.larkins@dowjones.com TODAY IN CANADA

Earnings:

None scheduled

Economic Indicators:

None scheduled

Stocks to Watch:

Elys Game Technology 2Q Rev


Expected Major Events for Wednesday

06:00/UK: Jul UK producer prices

06:00/UK: Jul UK monthly inflation figures

06:45/FRA: 2Q New home sales

08:30/UK: Jun UK House Price Index

08:30/UK: May Card Spending statistics

11:00/US: 08/12 MBA Weekly Mortgage Applications Survey

12:30/US: Jul Advance Monthly Sales for Retail & Food Services

14:00/US: Jun Manufacturing & Trade: Inventories & Sales

14:30/US: 08/12 EIA Weekly Petroleum Status Report

All times in GMT. Powered by Onclusive and Dow Jones.


Expected Earnings for Wednesday

America's Car-Mart (CRMT) is expected to report $3.15 for 1Q.

Analog Devices (ADI) is expected to report $1.59 for 3Q.

Bath & Body Works Inc (BBWI) is expected to report for 2Q.

BeyondSpring Inc (BYSI) is expected to report $-0.24 for 1Q.

Birchcliff Energy Ltd (BIR.T,BIREF) is expected to report for 2Q.

Cisco Systems (CSCO) is expected to report $0.71 for 4Q.

Crown Crafts (CRWS) is expected to report for 1Q.

Exscientia PLC - ADR (EXAI) is expected to report for 2Q.

Genius Brands International Inc (GNUS) is expected to report for 2Q.

Hyzon Motors Inc (HYZN) is expected to report for 2Q.

John B Sanfilippo & Son (JBSS) is expected to report for 4Q.

Keysight Technologies Inc (KEYS) is expected to report $1.66 for 3Q.

Krispy Kreme Inc (DNUT) is expected to report for 2Q.

Lowe's Cos (LOW) is expected to report $4.66 for 2Q.

Nanophase Technologies Corp (NANX) is expected to report for 2Q.

Newcore Gold is expected to report for 2Q.

Nexteer Automotive Group Ltd (1316.HK) is expected to report for Interim.

Omnitek Engineering (OMTK) is expected to report for 2Q.

Performance Food Group (PFGC) is expected to report $0.83 for 4Q.

Progressive Corp (PGR) is expected to report.

Rent the Runway Inc (RENT) is expected to report for 2Q.

Sharps Compliance (SMED) is expected to report $0.00 for 4Q.

Singularity Future Technology Ltd (SGLY) is expected to report for 3Q.

Synopsys Inc (SNPS) is expected to report $1.31 for 3Q.

TJX Companies Inc (TJX) is expected to report $0.68 for 2Q.

Target Corp (TGT) is expected to report $0.92 for 2Q.

The Children's Place Inc (PLCE) is expected to report $0.80 for 2Q.

TransAct Technologies Inc (TACT) is expected to report $-0.31 for 2Q.

Trinity Place Holdings Inc (TPHS) is expected to report for 2Q.

Wolfspeed Inc (WOLF) is expected to report for 4Q.

Powered by Onclusive and Dow Jones.


ANALYST RATINGS ACTIONS

Aerovate Therapeutics Cut to Neutral From Buy by BTIG

Agrify Cut to Neutral From Buy by Roth Capital

Albany International Cut to Neutral From Overweight by Alembic Global

Aptinyx Cut to Hold From Buy by Truist Securities

Aptinyx Cut to Market Perform From Outperform by Cowen & Co.

Aridis Pharmaceuticals Cut to Hold From Buy by Maxim Group

Avalara Cut to Equal-Weight From Overweight by Morgan Stanley

Bed Bath & Beyond Cut to Sell From Neutral by B. Riley Securities

CalAmp Raised to Buy From Hold by Craig-Hallum

ChromaDex Cut to Perform From Outperform by Oppenheimer

Clean Energy Fuels Cut to Market Perform From Outperform by Raymond James

CuriosityStream Cut to Market Perform From Outperform by Barrington Research

Diffusion Pharmaceuticals Raised to Buy From Neutral by HC Wainwright & Co.

Elanco Animal Health Cut to Neutral From Overweight by JP Morgan

Equifax Cut to Equal-Weight From Overweight by Morgan Stanley

EVO Payments Cut to Neutral From Buy by BTIG

Faraday Future Cut to Speculative Hold From Buy by Benchmark

Park Hotels & Resorts Cut to Market Perform From Outperform by BMO Capital

Public Storage Cut to Outperform From Strong Buy by Raymond James

Rackspace Technology Cut to Underweight From Neutral by JP Morgan

Rapid Micro Biosystems Cut to Neutral From Overweight by JP Morgan

RPT Realty Cut to Neutral From Buy by Mizuho

Seagen Raised to Outperform From Sector Perform by RBC Capital

Sema4 Holdings Cut to Hold From Buy by Jefferies

SITE Centers Raised to Buy From Neutral by Mizuho

Snowflake Cut to Neutral From Buy by UBS

TPI Composites Cut to Outperform From Strong Buy by Raymond James

TriNet Group Cut to Underweight From Neutral by JP Morgan

Zoom Video Communications Cut to Sell From Neutral by Citigroup

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


(END) Dow Jones Newswires

08-17-22 0511ET

Stocks mentioned in the article
ChangeLast1st jan.
AGRIFY CORPORATION 6.86% 1.09 Delayed Quote.-98.82%
ALBANY INTERNATIONAL CORP. -1.10% 99.34 Delayed Quote.12.31%
ANALOG DEVICES, INC. -0.07% 163.89 Delayed Quote.-6.69%
APTINYX INC. 0.00% 0.28 Delayed Quote.-89.51%
ARIDIS PHARMACEUTICALS, INC. -5.25% 0.9 Delayed Quote.-61.37%
BEYONDSPRING INC. 0.02% 0.6 Delayed Quote.-86.76%
BIRCHCLIFF ENERGY LTD. 3.15% 10.82 Delayed Quote.67.49%
CHROMADEX CORPORATION 0.00% 1.7 Delayed Quote.-54.55%
CISCO SYSTEMS, INC. 0.42% 48.28 Delayed Quote.-23.81%
CITIGROUP INC. 0.72% 47.57 Delayed Quote.-21.23%
CLEAN ENERGY FUELS CORP. 2.60% 6.31 Delayed Quote.2.94%
DIFFUSION PHARMACEUTICALS INC. -0.13% 5.77 Delayed Quote.-62.16%
ELYS GAME TECHNOLOGY, CORP. 2.44% 0.1844 Delayed Quote.-93.91%
ENERGY FUELS INC. 2.80% 8.8 Delayed Quote.-8.90%
EQUIFAX INC. -0.98% 188.92 Delayed Quote.-34.84%
EVO PAYMENTS, INC. 0.03% 33.68 Delayed Quote.31.56%
EXSCIENTIA PLC -3.24% 5.38 Delayed Quote.-72.77%
GENIUS BRANDS INTERNATIONAL, INC. -0.15% 0.7455 Delayed Quote.-29.00%
GENIUS GROUP LIMITED 7.54% 0.485 Delayed Quote.0.00%
HOULIHAN LOKEY, INC. -0.97% 96.28 Delayed Quote.-6.99%
HYZON MOTORS INC. -3.23% 1.5 Delayed Quote.-76.89%
KEYSIGHT TECHNOLOGIES, INC. -0.28% 173.11 Delayed Quote.-16.17%
KRISPY KREME, INC. -1.17% 15.2 Delayed Quote.-19.66%
LOWE'S COMPANIES, INC. -0.75% 207.47 Delayed Quote.-19.73%
MORGAN STANLEY 1.32% 91.08 Delayed Quote.-8.43%
NEWCORE GOLD LTD. 0.00% 0.185 Delayed Quote.-64.42%
NEXTEER AUTOMOTIVE GROUP LIMITED 1.79% 5.11 Delayed Quote.-48.14%
PERFORMANCE FOOD GROUP COMPANY 0.12% 59.03 Delayed Quote.28.63%
PROGRESSIVE CORPORATION 0.85% 131.12 Delayed Quote.26.66%
PUBLIC STORAGE 0.71% 290.6 Delayed Quote.-22.96%
RACKSPACE TECHNOLOGY, INC. 0.00% 4.54 Delayed Quote.-66.30%
RAPID MICRO BIOSYSTEMS, INC. -6.09% 2.16 Delayed Quote.-79.70%
RPT REALTY 2.87% 11.12 Delayed Quote.-16.89%
SEAGEN INC. -3.18% 117.37 Delayed Quote.-24.08%
SEMA4 HOLDINGS CORP. -2.61% 0.4477 Delayed Quote.-89.96%
SINGULARITY FUTURE TECHNOLOGY LTD. -0.37% 0.839 Delayed Quote.-82.41%
SNOWFLAKE INC. -3.20% 136.56 Delayed Quote.-59.69%
SYNOPSYS INC. -1.66% 323.66 Delayed Quote.-12.17%
TARGET CORPORATION 0.60% 166.37 Delayed Quote.-28.12%
THE CHILDREN'S PLACE, INC. -4.98% 36.22 Delayed Quote.-51.92%
TPI COMPOSITES, INC. 0.00% 11.3 Delayed Quote.-24.47%
TRINET GROUP, INC. 0.34% 70.72 Delayed Quote.-26.01%
WHEAT FUTURES (ZW) - CBE (ELECTRONIC)/C1 0.23% 758.5 End-of-day quote.0.62%
ZOOM VIDEO COMMUNICATIONS, INC. -1.42% 70.57 Delayed Quote.-61.63%
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