BMO: Suncor To Produce $60 Billion In Free Cash Flow Over The Next Five Years
Last week, BMO Capital Markets’ hosted Suncor Energy (TSX: SU)‘s President and CEO Mark Little for in-person meetings in Toronto with investors. Subsequentially, they reiterated their outperform rating and raised their 12-month price target to C$60 from C$54. The stock is currently up almost 60% year to date to C$52.78 and has 20 analysts covering […]
What Did Do Kwon Do? CEO Allegedly Cashed Out US$80 Million Each Month Before Terra Crash
Terraform Labs employees have reportedly confirmed to the US Securities and Exchange Commission that its co-founder and CEO Do Kwon was sending off ₩100 billion won or about US$80 million to secret wallets every month as operating expenses. JTBC News reports that the SEC has received statements from Terraform employees that say “the funds flowed […]
Low Airflow: Travel Rosters Not Yet Ready For Demand
Air Canada (TSX:AC) has been unable to keep up with a resurgence of demand for air travel, and are blaming the government. The Globe and Mail reports Thursday that Canada’s largest airline cancelled 350 of its flights in and out of Toronto’s Pearson Airport (YYZ) in the first week of June – 10% of its […]
Tesla Reveals Plans for a 3-for-1 Stock Split
In its annual proxy statement filed with the SEC, Tesla (NASDAQ: TSLA) CEO Elon Musk unveiled plans for a 3-for-1 stock split, as well as the forthcoming departure of board member Larry Ellison. The 2022 proxy filing cited efforts to make Tesla shares more affordable for ordinary investors as the reasoning behind the stock split, […]
UN: Ukraine Conflict is Exacerbating Global Food Crisis as Food Inflation Soars
Millions of more people risk slipping into famine as the conflict in Ukraine severely impedes global supply chains and sends food prices soaring even higher. A recent UN report highlights the dire attention that needs to be directed towards the global food supply, as geopolitical events in eastern Europe unravel historically-high inflation that is causing […]
Nutrien Targets Producing 18 Million Potash Tonnes Annually By 2025
To address the uncertainty of supply from Eastern Europe, Nutrien Ltd. (TSX: NTR) announced on Thursday its plan to grow its annual potash production to 18 million tonnes by 2025. The firm said this represents a 40% increase from its 2020 production. “The challenge of feeding a growing world has never been clearer as global […]
Electric Vehicle Maker Phoenix Motor Prices US$15.75 Million IPO
Following through its previously announced IPO plan, electric vehicle maker Phoenix Motor Inc. (Nasdaq: PEV) started trading on the Nasdaq Capital Market on Wednesday. The California-based automaker aims to raise US$15.75 million in its debut on the US big board. The offering consisted of 2.1 million common shares at US$7.50 per share. The shares will […]
Bitcoin Needs A Sentiment Change – The Daily Dive
Closing out the week on The Daily Dive today is Frank Holmes, Executive Chairman of Hive Blockchain (TSXV: HIVE) and CEO of US Global Investors. Frank joins us this afternoon to discuss the current state of crypto scams, what needs to happen for bitcoin to return to highs, and rising network difficulty. The discussion then […]
DocuSign Opens To A Sharp 24% Decline Following Fiscal Q1 2023 Earnings Release
DocuSign, Inc. (Nasdaq: DOCU) announced on late Thursday its financial results for fiscal Q1 2023 ended April 30, 2022. The report highlighted a revenue of US$588.7 million, an increase from Q1 2022’s revenue of US$469.1 million and beating the analyst estimate of US$583 million. “We delivered solid first-quarter results, growing revenue by 25% year-over-year and […]
US Inflation Breaks New Record in May as Energy Costs Relentlessly Soar
After briefly flatlining in April, it appears that US consumer prices jumped back into rhythm for the 24th consecutive month, throwing away any hope for team ‘transitory’ or ‘peak’ inflation. Latest data from the BLS showed that CPI rose 1% between April and May to an annualized 8.6%— the highest since December 1981 and substantially […]