Archives for November 22, 2019

GlycoMimetics Inc. (GLYC) Plunges 16.88%

GlycoMimetics Inc. (GLYC) had a rough trading day for Thursday November 21 as shares tumbled 16.88%, or a loss of $-1.08 per share, to close at $5.32. After opening the day at $5.74, shares of GlycoMimetics Inc. traded as high as $5.74 and as low as $4.73. Volume was 795,473 shares over 7,548 trades, against an average daily volume of n/a shares and a total float of 43.36 million.

As a result of the decline, GlycoMimetics Inc. now has a market cap of $230.67 million. In the last year, shares of GlycoMimetics Inc. have traded between a range of $13.56 and $2.64, and its 50-day SMA is currently $n/a and 200-day SMA is $n/a.

GlycoMimetics Inc is a clinical stage biotechnology company. It is focused on the discovery and development of novel glycomimetic drugs to address unmet medical needs resulting from diseases in which carbohydrate biology plays a key role. Glycomimetics are molecules that mimic the structure of carbohydrates involved in important biological processes. Using expertise in carbohydrate chemistry and knowledge of carbohydrate biology, the company is developing a pipeline of proprietary glycomimetics that may inhibit disease-related functions of carbohydrates, such as the roles it plays in inflammation, cancer, and infection.

GlycoMimetics Inc. is based out of Rockville, MD and has some 50 employees. Its CEO is Rachel K. King.

NuVista Energy Ltd. (NVA:CA) Rises 5.8%

November 21 was a positive day for NuVista Energy Ltd. (NVA:CA) as its stock finished the day having gained 5.8% to hit a price of $2.37 a share. The company reached a market cap of 534.37 million and has 225.47 million shares outstanding. NuVista Energy Ltd. is a component of the the S&P/TSX Composite Index.

406,153 shares changed hands over the course of the day as compared to an average volume of n/a over the last 30 days for NuVista Energy Ltd..

NuVista Energy Ltd engages in the exploration, development, and production of oil and natural gas in the Western Canadian Sedimentary Basin. Products sold include natural gas, condensate and oil, butane, propane, and ethane, with condensate composing nearly half of all sales. Condensate finds significant use in the heavy oil business when applied to heavy oil bitumen. It creates viscosity needed for pipeline transportation. The Wapiti Montney area delivers the largest portion of hydrocarbon production for NuVista. To better service assets and production in this area, the firm operates compressor and dehydration stations.. The company makes its home in Calgary, AB, and is currently under the leadership of CEO Jonathan Wright.

NuVista Energy Ltd. has hit a high of $5.19 and reached a low of $1.39 over its last year of trading. The stock’s 50-day SMA is now $n/a and 200-day SMA is $n/a. As for its price valuations, the P/E ratio is at n/a and P/B is now 0.39.

Quebec rations propane

CN strike means Quebec has less than five days propane left

Quebec Premier Francois Legault says a strike at Canadian National Railway Co. has left the province with fewer than five days before it runs out of propane, which would wreak havoc at hospitals, nursing homes and farms.

He says Quebec has already started to ration propane use, narrowing it to less than half the typical six million litres per day. The province has about 12 million litres in reserve.

Legault says priority has been given to health centres and retirement residences that rely on propane heating as well as farms that use it to dry grain and heat barns.

The premier expressed hope for a settlement between CN Rail and the 3,200 striking workers, but called on Prime Minister Justin Trudeau and the opposition parties to pass emergency back-to-work legislation if necessary ahead of Parliament’s scheduled return on Dec. 5.

Canadian Propane Association CEO Nathalie St-Pierre tells The Canadian Press that six-hour truck lines for propane have already formed in Sarnia, Ont..

She says about 85 per cent of Quebec’s propane comes via rail, the bulk of it from Sarnia and some from Edmonton — the country’s two propane trading hubs.

Conductors, trainpersons and yard workers took to the picket lines Tuesday, halting freight trains across the country.

Loblaw’s online market

Loblaw launching online marketplace, including new brands

Loblaw Companies Ltd. is introducing an online marketplace that will include brands and products that it has not traditionally sold.

The online marketplace will include new vendors available through Loblaw’s PC Express service.

The retailer says the third-party companies will be introduced in five expanded categories at the launch.

Loblaw says the offerings will go beyond its current in-store selections with brands like Umbra and Lennox Furniture Inc.

The new products will include additional items for baby, toy, home, kitchen and pet categories.

The company says products will be delivered direct to home, or available for in-store pickup and will earn PC Optimum points.

“Millions of Canadians visit our stores and online shops weekly, looking for inspiration and convenient access to food, home and health products,” said Garry Senecal, chief customer officer at Loblaw.

“Through this expanded PC Express offering, we will provide them with a curated, edited assortment of products that complement their current shop, from some exciting new vendors.”

Mounting forestry concern

Rail strike, trucking shortage stoke forest industry fears

The Forest Products Association of Canada says a chronic shortage of truck drivers is compounding concerns about the impact of a strike at Canadian National Railway Co.

CEO Derek Nighbor says the strike could have a “devastating economic impact” on his industry, which is already reeling from a downturn that resulted in about two dozen mill shutdowns and hundreds of layoffs in British Columbia.

He says the forest industry supplies about 10 per cent of the tonnage transported on Canada’s railway system, adding the lack of trucking alternatives to often remote facilities means transport bottlenecks and higher costs.

The strike by roughly 3,200 Teamsters Canada Rail Conference members began after the union and company failed to reach a deal by a Monday midnight deadline.

Conductors, trainpersons and yard workers took to the picket lines Tuesday, halting freight trains across the country.

On Wednesday, Pulse Canada and the Canadian Special Crops Association called on the federal government to “do everything in its power” to end the strike to limit damage to the industry and the Canadian economy.

The call was echoed by the Canadian Propane Association which warned that timely delivery of supply is important to ensure critical activities fuelled by propane can continue.

Olive branch for west?

Liberals open to changing federal laws at heart of western anger

The federal government’s new western outreach ambassador says there might be room to look at changing legislation at the heart of anger towards the Liberal government in Canada’s West.

Manitoba MP Jim Carr is no longer in cabinet, but he has a new role helping the government as Justin Trudeau’s special representative for the Prairies.

Carr is undergoing treatment for cancer after being diagnosed shortly after the Oct. 21 election.

Alberta Premier Jason Kenney is among those demanding changes to bills C-69 and C-48, which overhauled the environmental assessment process for major projects like pipelines and legislated a permanent ban against oil tankers travelling along the northern British Columbia coast.

Earlier this month, Vancouver-area MP Carla Qualtrough, a cabinet minister, said the government was open to almost anything to try and help ease anxieties in Canada’s oil patch — except for changing Bill C-69.

Today, however, Carr says he believes there is an openness to look at the bills for possible improvements