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North American Morning Briefing: Stock Futures -2-

In a brief statement Thursday night, Ms. Sinema said she would move forward with the legislation after a review of its provisions by the Senate's nonpartisan parliamentarian. While Ms. Sinema didn't outright back the plan, Senate Majority Leader Chuck Schumer (D., N.Y.) said in his own statement that he believed the changes would keep the bill on track in the 50-50 Senate, in the face of united Republican opposition.

   
 
 

Pelosi Says U.S. Won't Allow China to Isolate Taiwan

TOKYO-House Speaker Nancy Pelosi said Friday that the U.S. would continue engaging with Taiwan despite criticism from China, as Beijing encircled the island with rocket and ballistic-missile fire following her visit there.

"We will not allow them to isolate Taiwan," Mrs. Pelosi said of Beijing.

   
 
 

Fugitive Chinese Businessman Convicted of Visa Fraud in U.S.

A Florida jury on Thursday convicted a fugitive Chinese businessman on two counts of fraud related to obtaining visas that he used to enter the U.S., marking the downfall of a tycoon linked to both Shanghai financial shenanigans and Hollywood moviemaking.

Shi Jianxiang had been charged last year in U.S. District Court in the Southern District of Florida with "fraud and misuse of visas, permits, and other documents" related to entry to the U.S. Prosecutors say he used a passport in another name to enter the U.S. at a time he was considered a fugitive from China.

   
 
 

Wanda Vázquez Garced, Former Puerto Rico Governor, Arrested on Bribery Charges

Former Puerto Rico Gov. Wanda Vázquez Garced was arrested Thursday and charged with participating in a bribery scheme to finance her 2020 gubernatorial campaign, the Justice Department said.

Ms. Vázquez Garced was sworn in as governor in August 2019, in the wake of a scandal involving the former governor and a constitutional crisis over who would succeed him. She had previously served as the territory's justice secretary and was governor until the start of 2021.

   
 
 

Write to nihad.ahmed@wsj.com TODAY IN CANADA

Earnings:

Brkfld Rnwble Ptrns 2Q

Canopy Growth Corp 1Q

Ensign Energy Svs. 2Q

GDI Integrated Faclty Svs 2Q

Heroux-Devtek Inc. 1Q

Lion Electric Company 2Q

Pwr Corp of Canada 2Q

Premium Brands Hldgs 2Q

TELUS Corp. (T.T) 2Q

TELUS Intl 2Q

TransAlta Corp. 2Q

Uni-Select Inc. 2Q

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Economic Indicators (ET):

0830 Jul Labour Force Survey

1000 Jul Ivey Purchasing Managers Index

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Stocks to Watch:

Wajax 2Q Rev C$511.2M Vs. C$446.1M; 2Q Basic EPS C$1.01 Vs C$0.85; 6-Mos Rev C$950.7M Vs. C$833.2M; 6-Mos Basic EPS C$1.76 Vs C$1.44; Declares Dividend of C$0.25; Wajax: Continues to See Sound Fundamentals in Many of Key Markets, Bolstered by Strong Commodity Prices & Cap Spending; Sees Headwinds From Rising Interest Rates & Supply-Chain Issues; Wajax is an Industrial Products and Services Provider.

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Headwater Exploration 2Q EPS C$0.21; 2Q Net C$48.4M; Expected Annual Production of 13,000 Boe/d (11,900 Bbls/d of Heavy Oil and 6.8 Mmcf/d of Natural Gas), 4Q Production of 16,500 Boe/d (15,200 Bbls/d of Heavy Oil and 7.9 Mmcf/d of Natural Gas) as Previously Released

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Chorus Aviation 2Q Loss C$40.4M; 2Q Rev C$392.3M; 2Q Loss/Shr C$0.24; Sees 2022 Rev C$1.5B-C$1.73B

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Labrador Iron Ore 2Q EPS C$1.23; Iron Ore 2Q Net C$78.4M; Iron Ore 2Q Rev C$66.4M

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Swiss Water Decaff Coffee 2Q EPS C$0.16; 2Q Net C$1.46M; 2Q Rev C$48.4M

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Canaccord Genuity Group 1Q Loss/Shr C$0.14; 1Q Rev C$317.4M

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TWC Enterprises 2Q Net $3.59M

   
 
 

Expected Major Events for Friday

00:01/UK: Jul KPMG and REC UK Report on Jobs

05:00/JPN: Jun Indexes of Business Conditions - Preliminary Release

06:00/GER: Jun Industrial Production Index

06:00/UK: Jul Halifax House Price Index

06:45/FRA: Jun Industrial production index

06:45/FRA: Jun Foreign trade

06:45/FRA: Jun Balance of payments

06:45/FRA: 2Q Flash estimate of job creation

08:00/ITA: Jun Industrial Production

08:59/JPN: Jun Provisional Labour Survey - Earnings, Employment & Hours Worked

12:30/CAN: Jul Labour Force Survey

12:30/US: Jul U.S. Employment Report

14:00/CAN: Jul Ivey Purchasing Managers Index

19:00/US: Jun Consumer Credit

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

   
 
 

Expected Earnings for Friday

ACM Research Inc (ACMR) is expected to report $0.05 for 2Q.

AES Corporation (AES) is expected to report $0.26 for 2Q.

AdvanSix (ASIX) is expected to report $2.41 for 2Q.

Aldeyra Therapeutics Inc (ALDX) is expected to report $-0.31 for 2Q.

American Axle & Manufacturing Holdings Inc (AXL) is expected to report $0.05 for 2Q.

Brookfield Renewable Corp (BEPC,BEPC.T) is expected to report for 2Q.

Brookfield Renewable Partners LP (BEP,BEP.UN.T) is expected to report $0.10 for 2Q.

CSW Industrials Inc (CSWI) is expected to report $1.42 for 1Q.

Century Casinos (CNTY) is expected to report $0.00 for 2Q.

Commercial Vehicle Group Inc (CVGI) is expected to report $0.15 for 2Q.

DraftKings Inc (DKNG) is expected to report for 2Q.

EW Scripps Co - Class A (SSP) is expected to report $0.30 for 2Q.

Fluor Corp (FLR) is expected to report $0.26 for 2Q.

Gogo Inc (GOGO) is expected to report $0.14 for 2Q.

GrafTech International Ltd (EAF) is expected to report $0.45 for 2Q.

Gray Television (GTN,GTNA) is expected to report $0.87 for 2Q.

Interface (TILE) is expected to report $0.32 for 2Q.

Investors Title Co (ITIC) is expected to report for 2Q.

KVH Industries (KVHI) is expected to report $-0.14 for 2Q.

Landos Biopharma Inc (LABP) is expected to report for 2Q.

Leslie's Inc (LESL) is expected to report for 3Q.

Moneygram International Inc (MGI) is expected to report $0.13 for 2Q.

Patriot National Bancorp Inc (PNBK) is expected to report for 2Q.

Premium Brands Holdings (PBH.T,PRBZF) is expected to report $1.05 for 2Q.

Proto Labs (PRLB) is expected to report $0.23 for 2Q.

Saga Communications (SGA) is expected to report for 2Q.

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

Stericycle Inc (SRCL) is expected to report $0.10 for 2Q.

TELUS International (Cda) Inc (TIXT.T) is expected to report for 2Q.

Telus Corp (T.T,TU) is expected to report $0.27 for 2Q.

Trimble Inc (TRMB) is expected to report $0.39 for 2Q.

Tutor Perini (TPC) is expected to report $0.42 for 2Q.

Uni-Select (UNIEF,UNS.T) is expected to report for 2Q.

Valeura Energy (PNWRF,VLE.T) is expected to report for 2Q.

Vector Group (VGR) is expected to report for 2Q.

Vistra Corp (VST) is expected to report $0.34 for 2Q.

Wabtec Corp (WAB) is expected to report $1.06 for 2Q.

Western Digital Corporation (WDC) is expected to report $1.05 for 4Q.

WideOpenWest Inc (WOW) is expected to report $0.07 for 2Q.

Yellow Pages Ltd (Y.T) is expected to report for 2Q.

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ANALYST RATINGS ACTIONS

Ball Cut to Hold From Buy by Truist Securities

Boston Properties Cut to Neutral From Outperform by SMBC Nikko

ChemoCentryx Coverage Assumed by Canaccord Genuity at Buy

Ciena Coverage Assumed by MKM Partners at Buy

Paymentus Holdings Cut to Neutral From Buy by Goldman Sachs

Southern Co Raised to Buy From Neutral by UBS

Under Armour Cut to Sell From Hold by William Blair

Weave Communications Cut to Hold From Buy by Loop Capital

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

 

(END) Dow Jones Newswires

August 05, 2022 06:45 ET (10:45 GMT)

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