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North American Morning Briefing: Midterm Outcome -2-

11/09/2022 | 05:23am EST

WASHINGTON-Wall Street's private-equity giants are the latest companies to face regulatory investigations over deal makers' use of banned communication channels.

Apollo Global Management Inc., KKR & Co. Inc., and Carlyle Group Inc. disclosed Tuesday that they face investigations over whether their employees used messaging apps such as WhatsApp to do business. They are the most prominent asset-management firms so far to reveal their exposure to a regulatory sweep that examines compliance with record-keeping rules.


Kathy Hochul Is the First Woman to Be Elected New York's Governor

New York Gov. Kathy Hochul became the first woman elected to lead the Empire State after she defeated Republican U.S. Rep. Lee Zeldin, according to the Associated Press, in a closer-than-expected race that caught the attention of national Democrats.

While there are twice as many enrolled Democrats in the state as Republicans, polls showed the race tightening in October and Ms. Hochul's margin of victory was less than 10%, according to the state Board of Elections. That marks the best showing by a GOP gubernatorial candidate since George Pataki secured the last Republican statewide win in 2002.


Senate Control Up for Grabs With Key Races Too Close to Call

WASHINGTON-The Republican path to control of the Senate narrowed early Wednesday with Democrat John Fetterman's victory over physician and television personality Mehmet Oz in Pennsylvania, the first Senate seat flipped by either party.

Republicans had poured $85 million into general-election ads for the Pennsylvania contest to try to hold a seat left open by retiring Republican Sen. Pat Toomey. Democrats spent $111 million, according to AdImpact, a political ad tracking firm.


In Races for Governor, Few States Change Control

Gubernatorial elections resulted in few changes of control on Election Day, as Democrats held off challengers in several races that polls showed could be close including Wisconsin, New York and Michigan, while Republican incumbents won decisively in Florida and Texas, according to the Associated Press.

Democrats also prevailed in the only two states to flip, Maryland and Massachusetts.


Abortion-Rights Supporters Prevail in Midterm Ballot Measures

Voters passed measures guaranteeing abortion access in California, Michigan and Vermont, while an antiabortion proposal in Republican-leaning Kentucky was trailing early Wednesday.

The midterm elections provided the first national temperature-taking on voter attitudes toward abortion since the Supreme Court overturned Roe v. Wade in late June, ending federal constitutional protections for the procedure. The decision returned abortion policy to the states, creating a host of new battlegrounds.


North Korea Fires Short-Range Missile, Continuing Recent Spree of Weapons Tests

SEOUL-North Korea continued its torrid pace of weapons testing on Wednesday, launching a short-range ballistic missile off the country's east coast after vowing to take overwhelming measures in response to recent U.S.-South Korea military exercises.

The Kim Jong Un regime has embarked on a record spree of missile-testing activity in 2022, outnumbering the launches from any prior year by a wide margin. In recent weeks, North Korea has launched an intercontinental ballistic missile, triggered emergency alerts in Japan and South Korea and conducted tests at irregular hours in the middle of the night.


Ukraine's Zelensky Sets Conditions for 'Genuine' Peace Talks With Russia

Ukrainian President Volodymyr Zelensky said he was open to "genuine peace talks" with Russia, following pressure from Western backers to signal readiness for negotiations amid concerns about the rising costs of the eight-month war.

Mr. Zelensky said Ukrainian conditions for talks included returning Ukrainian control over its territories, compensating Kyiv for Moscow's invasion and bringing to justice perpetrators of war crimes.


U.S. Allies Seek to Stop Former Military Pilots From Helping China

SYDNEY-Australia will review its rules aimed at deterring former military personnel from aiding foreign adversaries, as U.S. allies grow concerned that China has recruited Western pilots and benefited from their technical expertise.

Australian Defense Minister Richard Marles said an investigation into whether former Australian personnel had provided training to China had raised concerns that justified a deeper examination of existing regulations. He declined to say whether any individual Australians had helped China, but said some cases remained under investigation.


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

Earnings:

(3Q unless stated otherwise)

Alaris Equity Partners

Altius Minerals

ATS Automation Tooling 2Q

AutoCanada

Boat Rocker Media

Boralex

Boyd Grp

Canopy Growth 2Q

Cardinal Energy

CareRx

CCL Indus

CGI 4Q

Charlotte's Web

Copper Mountain Mining

dentalcorp

ECN Capital

Enerflex

Exchange Income

Fiera Capital

First Majestic Silver

Fortuna Silver Mines

Galaxy Digital

GDI Integrated

iA Fincl

K-Bro Linen

Keyera

Kinross Gold

KP Tissue

Largo

Linamar

Magnet Forensics

Manulife Fincl

MEG Energy

Northland Power

Osisko Gold Royalties

Pan American Silver

Park Lawn

Payfare

Power Corp of Canada

Rogers Communications

Russel Metals

Spartan Delta

Stella-Jones

SunOpta

Superior Plus

TC Energy

Torex Gold Resources 4Q

Trican Well

Tricon Residential

Vermilion Energy

VIQ Solutions

Wesdome Gold Mines

WSP Global

Economic Indicators:

None scheduled

Stocks to Watch:

I-80 Gold 3Q Rev $16.1M

---

Aura Minerals 3Q Rev $81.1M; Sees 2022 Production of 245,000-250,000 Gold Equivalent Ounces

---

Hardwoods Distribution 3Q EPS $1.27 Vs. EPS $1.56; 3Q Sales $659.7M Vs. $471.7M; Declares Dividend of C$0.13, Up 8%

---

Imperial Metals 3Q Rev C$41.7M; Loss/Shr C$0.18

---

Magellan Aerospace 3Q EPS C$0.01; Rev C$191.1M

---

Pan American Silver and Agnico Confirm Termination of Gold Fields Transaction; to Fund $150M of Termination Fee

Market Insight:

North America has a growing list of lithium mining projects, but likely remains far from being self-sufficient, UBS said.

Emerging projects are "slow off the blocks and have to contend with elongated development timelines [permitting, integration etc]," UBS said. Canada is an obvious place to hunt for the battery material, given it's underexplored and has a rich mining history.

"Frontier's PAK combined with other Canadian projects like James Bay, Rose, Whabouchi, Moblan, Corvette and U.S. projects like Rhyolite Ridge and Thacker Pass will eventually ramp up, but rates beyond 250,000-300,000 [tons per annum] by 2030 currently look a stretch," UBS said.

That means "even an optimistic view on its supply capabilities leaves North America a long way from self-sufficiency let alone helping global markets."


Expected Major Events for Wednesday

04:30/JPN: Oct Corporate Insolvencies

05:00/JPN: Oct Economy Watchers Survey

11:00/FRA: Sep OECD Composite Leading Indicators

12:00/US: 11/04 MBA Weekly Mortgage Applications Survey

15:00/US: Sep Monthly Wholesale Trade

15:00/US: Oct Online Help Wanted Index

15:30/US: 11/04 EIA Weekly Petroleum Status Report

17:00/US: World Agricultural Supply & Demand Estimates (WASDE)

23:50/JPN: Oct Money Stock, Broadly-defined Liquidity

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


Expected Earnings for Wednesday

ANI Pharmaceuticals Inc (ANIP) is expected to report $-0.27 for 3Q.

ATS Automation Tooling Systems is expected to report $0.08 for 2Q.

Air Industries Group (AIRI) is expected to report for 3Q.

Allete Inc (ALE) is expected to report $0.69 for 3Q.

Arbutus Biopharma Corp (ABUS) is expected to report $-0.13 for 3Q.

Arvinas Inc (ARVN) is expected to report $-1.16 for 3Q.

Calumet Specialty Prods (CLMT) is expected to report $0.12 for 3Q.

Canopy Growth Corp (CGC,WEED.T) is expected to report $-0.26 for 2Q.

Capital Product Partners LP (CPLP) is expected to report for 3Q.

Capri Holdings Ltd (CPRI) is expected to report $1.55 for 2Q.

Clovis Oncology Inc (CLVS) is expected to report $-0.41 for 3Q.

Copper Mountain (CMMC.T,CPPMF) is expected to report $0.02 for 3Q.

DXP Enterprises (DXPE) is expected to report $0.60 for 3Q.

Daseke Inc (DSKE) is expected to report $0.34 for 3Q.

Finance of America Cos Inc (FOA) is expected to report for 3Q.

First Majestic Silver Corp (AG,FR.T) is expected to report for 3Q.

Forum Energy Technologies Inc (FET) is expected to report for 3Q.

GlycoMimetics Inc (GLYC) is expected to report $-0.26 for 3Q.

Hanesbrands Inc (HBI) is expected to report $0.21 for 3Q.

Hecla Mining Company (HL) is expected to report $-0.04 for 3Q.

Horizon Global Corp (HZN) is expected to report $-0.22 for 3Q.

International Money Express Inc (IMXI) is expected to report $0.41 for 3Q.

Ionis Pharmaceuticals Inc (IONS) is expected to report $-0.72 for 3Q.

Jaguar Mining is expected to report for 3Q.

Keyera Corp (KEY.T,KEYUF) is expected to report $0.46 for 3Q.

KnowBe4 Inc (KNBE) is expected to report for 3Q.

Life Time Group Holdings Inc (LTH) is expected to report for 3Q.

Minerva Neurosciences Inc (NERV) is expected to report for 3Q.

Otonomy Inc (OTIC) is expected to report $-0.19 for 3Q.

Praxis Precision Medicines Inc (PRAX) is expected to report for 3Q.

RadNet (RDNT) is expected to report $0.13 for 3Q.

Rogers Communications Inc - Class B (RCI,RCI.A.T,RCI.B.T) is expected to report $0.89 for 3Q.

Solid Biosciences Inc (SLDB) is expected to report for 3Q.

TC Energy Corp (TRP,TRP.T) is expected to report for 3Q.

Tegna Inc (TGNA) is expected to report $0.72 for 3Q.

The Trade Desk Inc (TTD) is expected to report $0.00 for 3Q.

Townsquare Media Inc (TSQ) is expected to report $0.58 for 3Q.

Tredegar (TG) is expected to report for 3Q.

(MORE TO FOLLOW) Dow Jones Newswires

11-09-22 0522ET

Stocks mentioned in the article
ChangeLast1st jan.
ADENTRA INC. 3.19% 34.25 Delayed Quote.20.85%
AIR INDUSTRIES GROUP -1.51% 5.2 Delayed Quote.24.23%
ALLETE, INC. -1.07% 62.65 Delayed Quote.-2.88%
ALTIUS MINERALS CORPORATION 3.07% 22.19 Delayed Quote.-0.09%
ANI PHARMACEUTICALS, INC. -1.19% 44.67 Delayed Quote.11.04%
APOLLO GLOBAL MANAGEMENT, INC. 1.73% 73.4 End-of-day quote.15.07%
ARBUTUS BIOPHARMA CORPORATION -1.69% 2.9 Delayed Quote.26.61%
ARVINAS, INC. -3.23% 35.1 Delayed Quote.2.60%
ATS CORPORATION 0.24% 54.13 Delayed Quote.28.61%
AURA MINERALS INC. -4.62% 10.52 Delayed Quote.32.66%
AUTOCANADA INC. -0.26% 30.17 Delayed Quote.29.43%
BOAT ROCKER MEDIA INC. 3.31% 2.81 Delayed Quote.8.91%
BORALEX INC. -1.59% 38.42 Delayed Quote.-4.00%
CANOPY GROWTH CORPORATION -6.21% 3.93 Delayed Quote.25.16%
CAPRI HOLDINGS LIMITED -0.10% 67.96 Delayed Quote.18.68%
CARDINAL ENERGY LTD. -0.68% 7.27 Delayed Quote.-4.59%
CARERX CORPORATION 0.00% 2.57 Delayed Quote.0.39%
CHARLOTTE'S WEB HOLDINGS, INC. -3.80% 0.76 Delayed Quote.4.11%
CLOVIS ONCOLOGY, INC. -3.42% 0.113 Delayed Quote.121.80%
COPPER MOUNTAIN MINING CORPORATION 1.89% 2.16 Delayed Quote.26.32%
DASEKE, INC. 0.94% 7.52 Delayed Quote.32.16%
DENTALCORP HOLDINGS LTD. -1.31% 9.82 Delayed Quote.10.34%
DXP ENTERPRISES, INC. 0.39% 31.12 Delayed Quote.12.96%
ECN CAPITAL CORP. -0.93% 3.2 Delayed Quote.15.11%
ENERFLEX LTD. 4.44% 9.41 Delayed Quote.10.19%
EXCHANGE INCOME CORPORATION -0.58% 54.75 Delayed Quote.4.03%
EXPRESS, INC. -4.07% 1.18 Delayed Quote.15.69%
FIERA CAPITAL CORPORATION -0.21% 9.4 Delayed Quote.8.29%
FINANCE OF AMERICA COMPANIES INC. -3.37% 1.72 Delayed Quote.40.16%
FIRST MAJESTIC SILVER CORP. -4.10% 10.29 Delayed Quote.-8.78%
FORTUNA SILVER MINES INC. -4.80% 4.96 Delayed Quote.2.36%
FORUM ENERGY TECHNOLOGIES, INC. 1.27% 31.98 Delayed Quote.7.05%
GALAXY DIGITAL HOLDINGS LTD. 0.00% 5.31 Delayed Quote.37.21%
GLYCOMIMETICS, INC. 1.98% 3.09 Delayed Quote.0.00%
GOLD -2.63% 1864.9 Delayed Quote.5.02%
HANESBRANDS INC. 4.30% 6.55 Delayed Quote.2.99%
HECLA MINING COMPANY -4.50% 5.94 Delayed Quote.6.83%
HORIZON GLOBAL CORPORATION 0.58% 1.74 Delayed Quote.344.96%
IMPERIAL METALS CORPORATION 2.88% 2.14 Delayed Quote.18.23%
INTERNATIONAL MONEY EXPRESS, INC. 0.64% 23.77 Delayed Quote.-2.46%
IONIS PHARMACEUTICALS, INC. -0.68% 40.92 Delayed Quote.9.08%
JAGUAR MINING INC. -2.82% 2.76 Delayed Quote.2.22%
KEYERA CORP. 0.61% 29.88 Delayed Quote.0.98%
KINROSS GOLD CORPORATION -4.08% 5.87 Delayed Quote.6.34%
KKR & CO. INC. -1.48% 57.15 Delayed Quote.24.97%
KNOWBE4, INC. 0.00% 24.89 End-of-day quote.0.44%
KP TISSUE INC. 0.59% 10.24 Delayed Quote.0.99%
LIFE TIME GROUP HOLDINGS, INC. -0.05% 19.71 Delayed Quote.64.80%
LINAMAR CORPORATION 0.77% 74.12 Delayed Quote.20.91%
MAGELLAN AEROSPACE CORPORATION 0.65% 9.29 Delayed Quote.-7.10%
MAGNET FORENSICS INC. 0.52% 44.13 Delayed Quote.18.79%
MEG ENERGY CORP. 0.86% 21.22 Delayed Quote.12.57%
MINERVA NEUROSCIENCES, INC. 13.89% 2.87 Delayed Quote.80.50%
NORTHLAND POWER INC. -3.01% 34.44 Delayed Quote.-7.24%
OSISKO GOLD ROYALTIES LTD -1.82% 17.26 Delayed Quote.5.76%
OTONOMY 8.35% 0.1181 Delayed Quote.35.59%
PAN AMERICAN SILVER CORP. -6.51% 22.98 Delayed Quote.11.22%
PARK LAWN CORPORATION -0.67% 28.35 Delayed Quote.9.67%
PAYFARE INC. 1.10% 6.41 Delayed Quote.49.42%
PRAXIS PRECISION MEDICINES, INC. -3.13% 4.64 Delayed Quote.101.26%
RADNET, INC. -0.51% 21.55 Delayed Quote.14.45%
ROGERS COMMUNICATIONS INC. 1.46% 65.34 Delayed Quote.3.11%
RUSSEL METALS INC. -0.43% 32.64 Delayed Quote.13.41%
S&P GSCI GOLD INDEX -2.81% 1092.57 Real-time Quote.5.73%
SILVER -4.78% 22.34 Delayed Quote.-2.02%
SILVER MINES LIMITED -4.88% 0.195 Delayed Quote.-2.50%
SOLID BIOSCIENCES INC. 1.73% 7.64 Delayed Quote.42.01%
SPARTAN DELTA CORP. 0.54% 13.14 Delayed Quote.-12.11%
SUNOPTA INC. -3.78% 7.9 Delayed Quote.-2.73%
SUPERIOR PLUS CORP. 0.69% 10.25 Delayed Quote.-8.73%
TC ENERGY CORPORATION 0.79% 56.05 Delayed Quote.3.83%
TEGNA INC. -0.69% 20.22 Delayed Quote.-4.58%
THE CARLYLE GROUP INC. -0.95% 37.4 Delayed Quote.25.34%
THE TRADE DESK, INC. -6.86% 53.1 Delayed Quote.18.45%
TOREX GOLD RESOURCES INC. -3.38% 17.13 Delayed Quote.10.16%
TOWNSQUARE MEDIA, INC. -0.94% 7.37 Delayed Quote.2.62%
TREDEGAR CORPORATION 0.57% 12.41 Delayed Quote.20.74%
TRICON RESIDENTIAL INC. -2.95% 11.85 Delayed Quote.13.51%
US DOLLAR / RUSSIAN ROUBLE (USD/RUB) -0.11% 70.55 Delayed Quote.-2.67%
VERMILION ENERGY INC. 0.00% 19.13 Delayed Quote.-20.19%
VIQ SOLUTIONS INC. 13.98% 0.53 Delayed Quote.47.22%
WESDOME GOLD MINES LTD. -4.39% 6.1 Delayed Quote.-18.45%
WSP GLOBAL INC. -1.21% 171.85 Delayed Quote.9.40%
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