Markets have had it rough, starting the month of August lower following one downer of a corporate earnings report after another.
Wall Street has struggled since credit assessor Fitch downgraded the United States’ credit rating from gold-standard AAA to AA+, citing the country’s growing debt burden.
Tech stocks have been in focus as of late, especially where AI is concerned and that is good news for the likes of Datametrex AI (TSXV:DM, Forum), whose stock is up 7.6 per cent over the past week.
Its subsidiary, Nexalogy Environics recently completed phase 2 of its Canadian Government AI project. The tech company reported the criteria for completion of the R&D phase of the project have been met and that the project will be transitioning into the next phase towards commercialization.
Source: Datametrex AI Ltd.
The advancement to the next phase will allow Nexalogy to apply its initiatives on a larger scale.
During this next phase, the government will assess the readiness of the work in real-world environments specifically tailored for their audiences.
With the project moving beyond purely R&D and into complete and qualified levels, the current R&D project funding sources will need to be replaced with higher-level and expanded funding sources.
The Canadian Government intends to continue the project to completion.
Infrastructure company TC Energy (TSX:TRP, Forum) will separate into two independent publicly listed companies through the spinoff of its liquids pipelines business.
The Calgary-based firm’s stock was down 2 per cent this week after the news.
The intent is to provide both companies with flexibility to pursue their own growth objectives through capital allocation and enhancing efficiencies.
Source: TC Energy.
TC Energy post-transaction will aim to be a diversified natural gas and energy solutions company that is positioned to meet industry and consumer demand for reliable energy, by leveraging complementary business sets. TC Energy will focus on natural gas infrastructure driven by nuclear, pumped hydro energy storage and new energy opportunities.
The liquids pipelines company will be a critical infrastructure company with assets that connect its supply to the highest demand markets. This company will work to increase capacity on underutilized portions of the system and increase connectivity to additional receipt and delivery points.
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TC Energy’s president and chief executive officer, François Poirier, said in a news release that its expansive strategic asset base highlights what he calls a “competitive advantage” in capturing opportunities and translating them into enduring value.
“We will be an increasingly utility-weighted business with a stable balance sheet, a higher expected comparable EBITDA compound annual growth rate of 7 per cent and a solid 3-5 per cent annual dividend growth outlook,” he said in a statement. “This week, we also accelerated our deleveraging goal by entering into definitive agreements to raise $5.2 billion in total cash proceeds ahead of our year-end target with the announced sale of a 40 per cent equity interest in the Columbia Gas and Columbia Gulf systems. Further, we are safely delivering our major projects such as Coastal GasLink and Southeast Gateway on the planned cost and schedule.”
The transaction is expected to be complete by the second half of next year.
Healthcare technology company Reliq Health Technologies (TSXV:RHT, Forum) recently outfitted two key iUGO Care customers with integrated artificial intelligence and machine learning solutions.
The iUGO Care platform provides real-time access to remote patient monitoring (RPM) data, which has been shown to lead to earlier interventions, reduced hospital visits and reduced costs for providers.
The clients in question are Just Heart Cardiovascular Group in Baltimore, Maryland, and digiiMed in Puerto Rico.
Source: Reliq Health Technologies Inc.
Just Heart will use the AI/ML solutions to improve RPM adherence and develop a predictive model to slow heart failure, while continuing to reduce admittance and the cost of care. These efforts will be backed by more than four years of patient data with tens of thousands of data points from cardiovascular patients.
DigiiMed has utilized iUGO Care to bring advanced digital healthcare to Puerto Rico and the U.S. Virgin Islands for more than three years. The company views the AI and ML integration as a way to prioritize patients with a high risk of complications.
The AI and ML features will be available to all iUGO Care clients going forward.
Next week will be a shorter trading week, but we will be able to dive into the data from the last quarter and figure out a clearer answer for where the markets are at (and where they are headed).
This will likely bring more certainty for investors, regardless of what it brings in terms of news. Buzz on the Bullboards always brings you the community view on where things are and where things are going, and next week will be no different.
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