Business
Stocks cool off after rally
Stocks cool off after rally
About this update from Baytex Energy Corp.
[{"type":"text","content":"\nStocks cool off after rally\n\nResources weigh things down\n Nov. 10, 2009 (Baystreet.ca) -- Canadian stocks moved lower on Tuesday amid a bout with profit-takers after a recent rally. The resource sectors saw some moderate declines, giving back some gains from the last few sessions.\n\nThe S&P/TSX composite index had lost 99.35 points by noon to 11.387.53. \n\nMining stocks are down, as First Quantum dropped 2.6% ahead of its quarterly earnings report, which is due after the close.\n\nEnergy stocks are down, with Canadian Natural Resources falling 2.5%, Suncor is down 2% and Encana has lost 1.8%. \n\nCrew Energy reported a third-quarter net loss and comprehensive loss of $7.376 million compared to profit of $15.178 million a year ago. Loss per share was $0.09 compared to profit of $0.23 per share prior year. \n\nBaytex Energy Trust reported third quarter net income of $40.66 million or $0.37 per unit, compared to $137.23 million or $1.39 per unit last year.\n\nMaterials and gold stocks are both off, as Seabridge has lost 3.9%, Yamana has dropped 2.1% and New Gold is down 2.2%.\n\nEuropean Goldfields has dropped 3% after the company reported its net loss for the third-quarter was $3.12 million U.S. or $0.02 U.S. per share, compared to a net loss of $5.04 million U.S. or $0.03 U.S. per share. \n\nSales for the quarter were $17.04 million U.S., up from $16.10 million U.S. in the year-ago quarter.\n\nSilver Wheaton is down 0.7% after the company reported quarterly net profit of $33.56 million U.S. or $0.11 U.S. per share compared with $20.24 million U.S. or $0.08 U.S. per share in 2008. Analysts anticipated earnings of $0.11 U.S. per share. \n\nRona has added 1.25% after the company reported that third quarter net income was $49.1 million, or $0.38 per share, compared to $52.5 million or $0.45 per share in 2008. \n\nATS Automation Tooling Systems has gained 4.1% after the company reported second-quarter net income slipped to $6.01 million or $0.07 per share from $9.27 million or $0.12 per share in the year-earlier quarter.\n\nComputer Modelling Group has dropped 5% after the company said its second-quarter earnings for the period decreased to $2.41 million from $2.97 million a year ago. \n\nLa Mancha Resources has added 1.6% after the company posted third-quarter net earnings of $3.0 million or $0.02 per share compared with a net...