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North American Morning Briefing: Stock Futures -2-

05/27/2022 | 05:39am EDT

The Indo-Pacific Economic Framework, launched on Monday, represents the latest effort by the U.S. to intensify engagement in a region that has become an arena for strategic competition between Washington and Beijing in recent years. While the trade initiative included traditional allies like Australia and Japan, along with large economies such as India and Indonesia, it initially lacked the involvement of a Pacific island country in a vast area of ocean that is home to major shipping lanes and fisheries.


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

Earnings:

Canopy Growth 4Q

Natl Bank of Canada 2Q

Economic Indicators:

None scheduled

Stocks to Watch:

Canfor: Announcing the Continuation of Reduced Operating Schedules at Its Western Canadian Sawmills Due to the Ongoing Global Supply Chain Challenges

Canfor: Company Has Been Operating at Approximately 80% of Production Capacity Since Late March 2022; Will Be Implementing Two Weeks of Rotating Downtime Across Its Primary Sawmills in July and Aug, Which Will Help Align Production Capacity With the Sustainable Timber Supply and Transportation Availability

Canfor: Capacity Reductions Are Expected to Result in an Incremental Impact of Approximately 275M Bd Feet by the End of Aug, in Addition to the 100M Bd Feet Reduction Previously Announced on March 30; Global Supply Challenges Are Continuing to Significantly Limit Ability to Transport Products to Customers and Inventory Levels Remain Very High

Canfor: Western Canadian Sawmills Are Anticipated to Resume Normal Operating Schedules Following Their Respective Summer Downtime

---

Hydro One Restores Power to More Than 652,000 Customers After Saturday Storm, 91% of Affected Customers; Anticipates Power Will Be Restored to 99% of Affected Customers Affected by Friday Evening; Some in Rural, Remote and Island Locations in the Perth and Bancroft Areas Will Be Without Power for Several More Days; Resoration May Take Several Weeks for Small Number of Customers in Tweed Area; Hydro One Has Seen a Record 1,900 Broken Poles


Expected Major Events for Friday

00:30/JPN: Apr Detailed Import & Export Statistics

08:00/ITA: Apr Foreign Trade non-EU

08:30/UK: Apr Capital issuance

12:30/US: Apr Advance Economic Indicators Report

12:30/US: Apr Personal Income & Outlays

14:00/US: May University of Michigan Survey of Consumers - final

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


Expected Earnings for Friday

Big Lots (BIG) is expected to report $0.91 for 1Q.

Bridgford Foods Corp (BRID) is expected to report for 2Q.

Canadian Western Bank is expected to report $0.86 for 2Q.

Canopy Growth Corp (CGC,WEED.T) is expected to report $10.65 for 4Q.

DXI Capital Corp (DXI.H.V) is expected to report for 1Q.

EQ is expected to report for 1Q.

Hibbett Inc (HIBB) is expected to report $3.44 for 1Q.

National Bank of Canada (NA.T,NTIOF) is expected to report $2.23 for 2Q.

Regional Health Properties Inc (RHE) is expected to report for 1Q.

Spectral Medical is expected to report $-0.01 for 1Q.

Statera Biopharma Inc (STAB) is expected to report for 1Q.

Video Display Corp (VIDE) is expected to report for 4Q.

Powered by Kantar Media and Dow Jones.


ANALYST RATINGS ACTIONS

Alignment Healthcare Raised to Buy From Neutral by B of A Securities

AmerisourceBergen Raised to Overweight From Equal-Weight by Barclays

ASGN Cut to Market Perform From Outperform by BMO Capital

Cardinal Health Cut to Equal-Weight From Overweight by Barclays

Centene Cut to Neutral From Buy by B of A Securities

Cigna Raised to Neutral From Underperform by B of A Securities

Columbus McKinnon Cut to Neutral From Overweight by JP Morgan

Covetrus Cut to Equal-Weight From Overweight by Barclays

Dick's Sporting Goods Raised to Hold From Reduce by Gordon Haskett

Dow Cut to In-Line From Outperform by Evercore ISI Group

Frontier Comms Parent Raised to Equal-Weight From Underweight by Morgan Stanley

Kraft Heinz Cut to Sell From Neutral by UBS

Kratos Raised to Buy From Hold by Truist Securities

Manpower Cut to Market Perform From Outperform by BMO Capital

Molina Health Cut to Underperform From Buy by B of A Securities

Nutanix Cut to Market Perform From Outperform by William Blair

Nutanix Cut to Neutral From Buy by B of A Securities

Oscar Health Cut to Neutral From Buy by B of A Securities

Patterson-UTI Raised to Neutral From Underweight by JP Morgan

POINT Biopharma Global Raised to Buy From Hold by Jefferies

ProPetro Holding Cut to Underweight From Overweight by JP Morgan

Robert Half Cut to Market Perform From Outperform by BMO Capital

Sysco Raised to Overweight From Neutral by JP Morgan

Titan Pharmaceuticals Cut to Hold From Buy by Maxim Group

TrueBlue Cut to Market Perform From Outperform by BMO Capital

TuSimple Raised to Buy From Hold by China Renaissance

Union Pacific Cut to In-Line From Outperform by Evercore ISI Group

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


(END) Dow Jones Newswires

05-27-22 0538ET

Stocks mentioned in the article
ChangeLast1st jan.
ALIGNMENT HEALTHCARE, INC. -5.34% 10.98 Delayed Quote.-21.91%
AMERISOURCEBERGEN CORPORATION -4.04% 143.19 Delayed Quote.12.29%
BARCLAYS PLC 0.93% 160.12 Delayed Quote.-14.37%
BIG LOTS, INC. -1.46% 22.27 Delayed Quote.-50.57%
BRIDGFORD FOODS CORPORATION -0.47% 12.75 Delayed Quote.0.00%
CANADIAN WESTERN BANK 0.23% 26.43 Delayed Quote.-28.71%
CANFOR CORPORATION -3.00% 21.97 Delayed Quote.-29.35%
CANOPY GROWTH CORPORATION -5.11% 4.64 Delayed Quote.-55.71%
CARDINAL HEALTH, INC. -1.90% 53.82 Delayed Quote.6.55%
CENTENE CORPORATION -0.28% 84.33 Delayed Quote.2.63%
CHINA RENAISSANCE HOLDINGS LIMITED -0.97% 10.18 Delayed Quote.-30.45%
COLUMBUS MCKINNON CORPORATION -6.33% 28.7 Delayed Quote.-33.77%
COVETRUS, INC. -0.29% 20.69 Delayed Quote.3.91%
DICK'S SPORTING GOODS, INC. -4.04% 77.34 Delayed Quote.-32.74%
EQ INC. 0.00% 1.17 Delayed Quote.-2.50%
EVERCORE INC. 0.00% 96.78 Delayed Quote.-28.76%
HIBBETT, INC. -5.17% 47.13 Delayed Quote.-34.48%
HYDRO ONE LIMITED 0.82% 34.37 Delayed Quote.3.59%
MORGAN STANLEY 0.93% 78.16 Delayed Quote.-20.37%
NATIONAL BANK OF CANADA 0.46% 84.72 Delayed Quote.-13.31%
NUTANIX, INC. -3.18% 14.62 Delayed Quote.-52.61%
OSCAR HEALTH, INC. 0.00% 4.55 Delayed Quote.-42.04%
PROPETRO HOLDING CORP. 1.67% 10.35 Delayed Quote.27.78%
REGIONAL HEALTH PROPERTIES, INC. 0.43% 2.3601 Delayed Quote.-47.89%
S&P 500 -2.01% 3821.55 Real-time Quote.-18.17%
SPECTRAL MEDICAL INC. -4.00% 0.36 Delayed Quote.72.73%
SYSCO CORPORATION -1.22% 85.05 Delayed Quote.8.28%
THE KRAFT HEINZ COMPANY -2.41% 37.73 Delayed Quote.5.10%
TITAN PHARMACEUTICALS, INC. 7.86% 0.755 Delayed Quote.-25.98%
TRUEBLUE, INC. -1.04% 17.21 Delayed Quote.-37.80%
TUSIMPLE HOLDINGS INC. -7.22% 7.97 Delayed Quote.-77.77%
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