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North American Morning Briefing: Stocks Look to -2-

08/31/2022 | 05:43am EST

WASHINGTON-The Justice Department said "efforts were likely taken to obstruct the government's investigation" of documents at former President Donald Trump's Mar-a-Lago home months before FBI agents searched the Florida estate in early August.

A court filing late Tuesday objecting to Mr. Trump's proposal that the seized documents be vetted by a third-party arbiter laid out the government's most detailed timeline yet of the events that led to the unprecedented search of the premises, in which investigators said they found records in places other than the storage room where Mr. Trump's lawyers had assured them all were held.


Biden Presses for More Police Funding, Tighter Gun Laws

WILKES-BARRE, Pa.-President Biden stressed Democratic efforts to improve public safety Tuesday by spending more on policing and tightening gun laws, while accusing some Republicans of trying to undercut law enforcement in probes related to former President Donald Trump.

During his speech in the Keystone State, a crucial battleground in the coming midterm elections, Mr. Biden looked to counter GOP attacks that his party is soft on crime. Democrats are divided on bills to address problems at police departments, with some moderates pushing for grants for small police agencies for hiring and training, and progressive and Black Democrats pushing for more accountability for police.


NASA to Try Artemis I Moon Launch Again on Saturday

NASA is now hoping to launch its towering rocket on a lunar-orbit mission on Saturday.

An initial attempt to launch its first Artemis mission on Monday was postponed after engine-related problems emerged on the Space Launch System rocket that is supposed to carry the unmanned Orion spacecraft toward the moon.


Social-Media Firms Would Have to Consider Children's Health Under Bill Passed by California Legislature

California's Legislature passed a bill Tuesday that would for the first time in the U.S. require the makers of social-media apps such as Facebook, Instagram and TikTok to consider the physical and mental health of minors when designing their products.

The bill passed in a unanimous, bipartisan vote in the Assembly after doing the same in the state Senate on Monday. Both chambers are dominated by Democrats.


Japan to Build Longer-Range Missiles and Study Hypersonic Technology

TOKYO-Japan's Defense Ministry said Wednesday it wanted to start producing longer-range missiles and conduct research into hypersonic missile systems, a response to rising regional tensions including China's threats against Taiwan.

The ministry said it was planning to build two types of "standoff" missiles that can strike an enemy target from far away.


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

Earnings:

Laurentian Bank of Canada 3Q

Economic Indicators (ET):

0830 Jun GDP

0830 2Q Quarterly GDP

Stocks to Watch:

Bausch Health Commences Offers to Exchange Existing Notes for Up to $4B of New Notes

Alimentation Couche Tard 1Q Revenue Up On Higher Fuel Costs

Alimentation Couche Tard Inc. logged higher revenue in its fiscal first quarter, mainly from higher fuel prices, though consumer demand for fuel fell and the company took a hit from the strong U.S. dollar.

The Quebec-based convenience store operator posted a profit of $872.4 million, or 85 cents a share, for the period that ended July 17, compared with $764.4 million, or 71 cents a share, a year ago. Adjusted earnings per share were also 85 cents each. Analysts polled by FactSet expected 94 cents per share.

Revenue increased 37% to $18.66 billion. Analysts expected $22.81 billion.

Read more here.


Expected Major Events for Wednesday

01:00/JPN: Jul Steel Imports & Exports Statistics

04:30/JPN: Jul Preliminary Report on Petroleum Statistics

05:00/JPN: Aug Consumer Confidence Survey

05:00/JPN: Jul Housing Starts

05:00/JPN: Jul Construction Orders

06:00/GER: Jul Foreign trade price indices

06:45/FRA: Jul Household consumption expenditure in manufactured goods

06:45/FRA: 2Q GDP - detailed figures

06:45/FRA: Jul PPI

06:45/FRA: Aug Provisional CPI

07:55/GER: Aug Labour market statistics (incl unemployment)

09:00/ITA: Aug Cities CPI

09:00/ITA: Aug Provisional CPI

10:00/ITA: Jul PPI

11:00/US: 08/26 MBA Weekly Mortgage Applications Survey

12:15/US: Aug ADP National Employment Report

12:30/CAN: Jun GDP

12:30/CAN: 2Q Quarterly GDP

13:45/US: Aug Chicago Business Barometer - ISM-Chicago Business Survey - Chicago PMI

14:00/US: Jul Metropolitan Area Employment & Unemployment

14:30/US: 08/26 EIA Weekly Petroleum Status Report

19:00/US: Jul Agricultural Prices

23:01/UK: Aug CBI Growth Indicator Survey

23:50/JPN: 2Q Quarterly Financial Statements Statistics of Corporations

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


Expected Earnings for Wednesday

Anixa Biosciences Inc (ANIX) is expected to report for 3Q.

Barnes & Noble Education Inc (BNED) is expected to report $-0.58 for 1Q.

BeyondSpring Inc (BYSI) is expected to report $-0.67 for 1Q.

Brown-Forman Corp - B Share (BFA,BFB) is expected to report $0.47 for 1Q.

C3.ai Inc (AI) is expected to report for 1Q.

Chico's FAS Inc (CHS) is expected to report $0.01 for 2Q.

Cooper Companies Inc (COO) is expected to report $2.51 for 3Q.

Costco Wholesale Corp (COST) is expected to report.

Credo Technology Group Holding Ltd (CRDO) is expected to report for 1Q.

Culp Inc (CULP) is expected to report $-0.28 for 1Q.

Daktronics (DAKT) is expected to report $0.02 for 1Q.

Designer Brands Inc (DBI) is expected to report for 2Q.

Donaldson Co (DCI) is expected to report $0.84 for 4Q.

Express Inc (EXPR) is expected to report $0.07 for 2Q.

Five Below (FIVE) is expected to report $0.79 for 2Q.

Greif Inc - A Share (GEF,GEFB) is expected to report $1.97 for 3Q.

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

Laurentian Bank of Canada (LB.T,LRCDF) is expected to report $1.22 for 3Q.

MongoDB Inc (MDB) is expected to report $-1.48 for 2Q.

Nutanix Inc (NTNX) is expected to report $-0.81 for 4Q.

Okta Inc (OKTA) is expected to report $-1.47 for 2Q.

Pure Storage Inc (PSTG) is expected to report $-0.07 for 2Q.

Samsara Inc (IOT) is expected to report for 2Q.

Semtech (SMTC) is expected to report $0.72 for 2Q.

SentinelOne Inc (S) is expected to report for 2Q.

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

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

Veeva Systems (VEEV) is expected to report $0.70 for 2Q.

Vera Bradley Inc (VRA) is expected to report $0.05 for 2Q.

VersaBank (VBNK.T) is expected to report $0.21 for 3Q.

eGain (EGAN) is expected to report $-0.12 for 4Q.

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ANALYST RATINGS ACTIONS

American Outdoor Brands Raised to Buy From Neutral by B. Riley Securities

Cabaletta Bio Cut to Equal-Weight From Overweight by Morgan Stanley

Gap Inc Raised to Equal-Weight From Underweight by Barclays

Genesco Cut to Neutral From Buy by Seaport Global

Lument Finance Trust Cut to Neutral From Overweight by Piper Sandler

Minerals Technologies Cut to Neutral From Buy by CL King

Sealed Air Raised to Neutral From Underweight by JP Morgan

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


(END) Dow Jones Newswires

08-31-22 0542ET

Stocks mentioned in the article
ChangeLast1st jan.
AMERICAN OUTDOOR BRANDS, INC. 17.70% 11.24 Delayed Quote.-43.60%
ANIXA BIOSCIENCES, INC. -1.61% 4.89 Delayed Quote.64.65%
BARCLAYS PLC 0.89% 158.24 Delayed Quote.-16.14%
BAUSCH HEALTH COMPANIES INC. 2.99% 7.93 Delayed Quote.-71.28%
BEYONDSPRING INC. 0.40% 0.5723 Delayed Quote.-87.37%
CABALETTA BIO, INC. 5.56% 4.94 Delayed Quote.30.34%
CHICO'S FAS, INC. 1.26% 5.62 Delayed Quote.4.46%
COSTCO WHOLESALE CORPORATION -1.85% 494.53 Delayed Quote.-12.89%
CREDO TECHNOLOGY GROUP HOLDING LTD 3.03% 14.94 Delayed Quote.0.00%
CULP, INC. -3.69% 4.96 Delayed Quote.-47.84%
DAKTRONICS, INC. 2.34% 3.5 Delayed Quote.-30.69%
DESIGNER BRANDS INC. -4.11% 10.97 Delayed Quote.-22.80%
DONALDSON COMPANY, INC. -0.25% 60.81 Delayed Quote.2.62%
EXPRESS, INC. 0.71% 1.42 Delayed Quote.-53.90%
GENESCO INC. -5.78% 45.61 Delayed Quote.-28.92%
GREIF, INC. 1.38% 71.04 Delayed Quote.17.67%
HYZON MOTORS INC. -1.12% 1.77 Delayed Quote.-72.73%
LAURENTIAN BANK OF CANADA -2.32% 32.42 Delayed Quote.-19.29%
LUMENT FINANCE TRUST, INC. -1.52% 1.95 Delayed Quote.-49.22%
META PLATFORMS, INC. 2.53% 123.49 Delayed Quote.-63.29%
MINERALS TECHNOLOGIES INC. 1.90% 62.71 Delayed Quote.-14.27%
MONGODB, INC. -1.09% 160.17 Delayed Quote.-69.74%
MORGAN STANLEY -0.97% 92.1 Delayed Quote.-6.17%
MSCI TAIWAN (STRD) -0.39% 541.755 Real-time Quote.-26.72%
NUTANIX, INC. -0.03% 30.53 Delayed Quote.-4.17%
OKTA, INC. -3.49% 65.08 Delayed Quote.-70.97%
PIPER SANDLER COMPANIES 3.23% 148.17 Delayed Quote.-17.00%
PURE STORAGE, INC. -2.12% 29.61 Delayed Quote.-9.03%
SAMSARA INC. 20.20% 11.9 Delayed Quote.-57.67%
SEALED AIR CORPORATION 1.33% 53.51 Delayed Quote.-20.69%
SEMTECH CORPORATION -1.54% 29.36 Delayed Quote.-66.99%
SENTINELONE, INC. -1.66% 14.78 Delayed Quote.-70.73%
SINGULARITY FUTURE TECHNOLOGY LTD. 1.21% 0.7693 Delayed Quote.-83.87%
THE COOPER COMPANIES, INC. -1.32% 322.32 Delayed Quote.-23.06%
THE GAP, INC. 3.05% 14.85 Delayed Quote.-15.86%
VEEVA SYSTEMS INC. -8.63% 174.9 Delayed Quote.-31.54%
VERA BRADLEY, INC. 5.28% 3.99 Delayed Quote.-53.11%
VERSABANK -0.61% 8.95 Delayed Quote.-40.57%
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