The military branch had halted flights of more than 400 of the helicopters in late August after a string of fuel leaks and engine fires. The Army said a maintenance error led to the incorrect parts being installed during routine maintenance.
Write to paul.larkins@dowjones.com TODAY IN CANADA
Earnings:
Blackline Safety 3Q
BRP 2Q
GURU Organic Energy 3Q
NanoXplore 4Q
Economic Indicators (ET):
0830 Sep Estimates of production of principal field crops
0830 Jul Monthly Survey of Manufacturing
Stocks to Watch:
Link Obtains Orders to Adjourn Second Court Hearing in Relation to Dye & Durham Bid; Hearing to Take Place on September 23
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WildBrain 4Q Rev C$112M; Basic EPS C$0.01; Net C$1.1M
Market Talk:
Dye & Durham's Link Acquisition May Now Be Tough to Complete
U.K. Financial Conduct Authority conditions placed on Dye & Durham's bid to acquire Link may make the deal difficult to complete, says JPMorgan analyst Siddharth Parameswaran in a note.
The FCA said it won't approve the Link acquisition if Dye & Durham doesn't cover any shortfall in the value of assets of Link Fund Solutions, which is based on a possible restitution the FCA may levy LFS on a fund it managed.
"The likelihood of deal completion however we think is relatively low," says JPM, which notes that recutting terms may not fit into D&D's tight funding timeliness. D&D ownership, rather than Link, may also potentially mean higher competition pressures.
Statements by Link seem to say it isn't willing to fund additional losses above LFS net tangible assets, JPM notes. (alice.uribe@wsj.com)
Expected Major Events for Wednesday
04:30/JPN: Jul Revised Industrial Production
06:00/UK: Aug UK producer prices
06:00/UK: Aug UK monthly inflation figures
08:00/FRA: Sep IEA Oil Market Report
08:30/UK: Jul UK House Price Index
11:00/US: 09/09 MBA Weekly Mortgage Applications Survey
12:30/US: Aug PPI
12:30/CAN: Sep September estimates of production of principal field crops
12:30/CAN: Jul Monthly Survey of Manufacturing
14:30/US: 09/09 EIA Weekly Petroleum Status Report
23:50/JPN: Aug Provisional Trade Statistics for the Month
All times in GMT. Powered by Onclusive and Dow Jones.
Expected Earnings for Wednesday
Brp Inc (DOO.T,DOOO) is expected to report $2.63 for 2Q.
Hyzon Motors Inc (HYZN) is expected to report for 2Q.
IronNet Inc (IRNT) is expected to report for 2Q.
Li-Cycle Holdings Corp (LICY) is expected to report for 3Q.
Lightpath (LPTH) is expected to report $0.02 for 4Q.
RF Industries (RFIL) is expected to report $0.08 for 3Q.
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ANALYST RATINGS ACTIONS
Adobe Cut to Market Perform From Outperform by BMO Capital
AnaptysBio Cut to Hold From Buy by Truist Securities
Dow Cut to Hold From Buy by Jefferies
Health Catalyst Cut to Neutral From Overweight by Piper Sandler
Rent the Runway Cut to Neutral From Outperform by Credit Suisse
Rubius Therapeutics Cut to Neutral From Buy by Guggenheim
Steven Madden Cut to Hold From Buy by Loop Capital
Tyson Foods Cut to Hold From Buy by Argus Research
This article is a text version of a Wall Street Journal newsletter published earlier today.
(END) Dow Jones Newswires
09-14-22 0505ET
