Business
Stocks slid after rally
Stocks slid after rally
About this update from Baytex Energy Corp.
[{"type":"text","content":"\nStocks slid after rally\n\nResources lead TSX lower\n Nov. 10, 2009 (Baystreet.ca) -- Bay Street stocks moved slightly lower on Tuesday after rising sharply in the previous session. Resource stocks are leading the decliners.\n\nThe S&P/TSX composite index lost 60.14 points to 11.426.74. \n\nMining stocks were down, as First Quantum dropped 1.4% to $74.28 ahead of its quarterly earnings report, which was due after the close.\n\nPan American Silver added 1.4% to $24.72 after being upgraded to "buy" from "hold" at Canaccord Adams. The company is scheduled to report third quarter earnings after the closing bell. \n\nEnergy stocks were down, as Encana lost 1.9% to $61.56, Canadian Natural Resources was down 1.8% to $70.76 and Suncor declined 1.2% to $36.90. \n\nCrew Energy dropped 2.3% to $11.60 after the company 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 slipped 1% to $27.59 after the company 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.\nIn other corporate news, Royal Bank added 0.7% to $56.82 after being upgraded to "buy" from "neutral" at UBS. \n\nEuropean Goldfields lost 6.2% to $6.96 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. Sales for the quarter were $17.04 million U.S., up from $16.10 million U.S. in the year-ago quarter.\n\nSilver Wheaton was up 1.4% to $15.67 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\nATS Automation Tooling Systems rose 7% to $7.00 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 dropped 5.9% to $14.81 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 climbed 2....