Noah Zivitz

Managing Editor, BNN Bloomberg

Archive

Canadian stocks took a breather yesterday after two consecutive record closing highs. Nonetheless, it’s been quite a month for the TSX Composite Index, with only five losing sessions so far. We’ll take a closer look at what’s been propelling Bay Street as the third quarter winds down.

BLACKBERRY SLIDES

Shares are down more than 10 per cent in New York pre-market trading after a messy second quarter that included nil profit and a revenue miss (albeit amid 22 per cent growth). The company also trimmed the top end of its full-year sales outlook. We’re hoping to speak with CEO John Chen this morning.

PUTTING CAPITAL TO WORK IN THE ENERGY SECTOR

We’re going to chase Luminus Management today after the U.S.-based firm fronted a recapitalization of Delphi Energy yesterday and said it’s “excited to deploy capital” amid a dearth of funding for small-cap Canadian energy companies. Luminus isn’t strictly a small-cap player. It’s also a significant shareholder in names like Cenovus and Baytex Energy.

CAMPAIGN LATEST

Lots of interest on BNNBloomberg.ca in the competing strategies for managing the housing market after the Conservatives said they’d “fix” the mortgage stress test and allow 30-year mortgage amortization for first-time buyers. Pattie will continue to address how housing affordability and debt could factor into the election. And this morning we’ll go in-depth with People’s Party of Canada Leader Maxime Bernier on The Open.

LIVE ON LOCATION

Bloomberg Markets will be knee-deep in tech the next two days at the Elevate conference in Toronto. Watch for Amanda Lang’s interviews today with the likes of Salesforce evangelist Tiffani Bova and Toronto Mayor John Tory.

NOW WHAT FOR BREXIT?

Boris Johnson was dealt a setback today after the U.K. Supreme Court ruled his suspension of Parliament was unlawful and called for lawmakers to get back to business as Brexit looms in just over a month. “The decision is, at the very least, a humiliation for Boris … What will come next is anyone's guess but I'll be very surprised if Johnson doesn't have another card up his sleeve. The Brexit soap opera is just getting started,” wrote Oanda analyst Craig Erlam in a note to clients (prompting a “say it ain’t so” from Paul Bagnell in conversation with Craig this morning on The Street).

OTHER NOTABLE STORIES

-Former CN CEO Claude Mongeau is back in the rail business. Norfolk Southern announced late yesterday it has brought Mongeau on board as a director. CEO Jim Squires says Mongeau’s knowledge “will be invaluable” to Norfolk.

-Wealthsimple is expanding into the tax business, announcing today it has acquired web-based SimpleTax. A spokesperson for Wealthsimple told us “just under one million” Canadians used SimpleTax last year.

-Cineplex today announced a partnership that will see it “manage and enhance” AMC’s digital network at more than 600 U.S. locations.

-An EU court has spared Google from having to apply the “right to be forgotten” provision globally.

-Stelco announced late yesterday it abandoned a planned US$300-million debt offering due to current bond market conditions.

NOTABLE RELEASES/EVENTS

-Notable earnings: BlackBerry, Nike

-Notable data: S&P/Case Shiller U.S. home price index

-10:00 a.m. ET: Conservative Party leader Andrew Scheer makes announcement in Thorold, Ont. 

-10:00 a.m. ET: NDP Leader Jagmeet Singh makes announcement in Winnipeg 

-10:15 a.m. ET: Green Party Leader Elizabeth May makes announcement in Sackville, N.B.

-10:15 a.m. ET: U.S. President Donald Trump to address UN General Assembly in New York

-12:30 p.m. ET: Liberal Party Leader Justin Trudeau makes announcement in Burnaby, B.C.

-2:30 p.m. ET: Telus CEO Darren Entwistle, Alberta Premier Jason Kenney participate in Edmonton news conference re. investment in Alberta

-Canopy Growth CEO Mark Zekulin, Sidewalk Labs CEO Dan Doctoroff, Martha Stewart among speakers at Elevate tech festival in Toronto

Every morning BNN Bloomberg's Managing Editor Noah Zivitz writes a ‘chase note’ to BNN Bloomberg's editorial staff listing the stories and events that will be in the spotlight that day. Have it delivered to your inbox before the trading day begins by heading to www.bnnbloomberg.ca/subscribe.