Business
TSX stumbles out of gate
TSX stumbles out of gate
About this update from Black Diamond Group Limited
[{"type":"text","content":"\nTSX stumbles out of gate\n\nGold weighs on market\n Feb. 8, 2010 (Baystreet.ca) -- Canadian stocks may struggle to extend Friday's late hour rally Monday morning, as commodity prices have failed to move up convincingly and were hovering just above their monthly lows. \n\nMoreover, the last hour rally in Friday was seen more of a short covering after the main index had hit its multi-month lows. \n\nThe S&P/TSX Composite Index fell back 71.73 points in the first half-hour of trading, to 11,151.39.\n\nIn corporate news, educational publisher McGraw-Hill Ryerson reported fourth-quarter earnings of $1.83, up from $1.73 in the previous year.\n\nPotash stocks may be in play on signals of improved demand for potash. Canpotex Ltd. said it has reached an agreement with Sinofert on a spot sale of approximately 350,000 MT of Canadian potash at competitive prices. With this, the company is now fully committed on sales through the first quarter of 2010. \n\nCanpotex is the offshore marketing company owned by the three Saskatchewan potash producing companies, Agrium Inc., Mosaic Canada Crop Nutrition, LP, a subsidiary of The Mosaic Company and Potash Corporation of Saskatchewan Inc. \n\nOnline search service provider Multiplied Media said that it has agreed to acquire UnoMobi Inc. together with its wholly-owned subsidiary, Innovation Fund III LLC, for $6.175 million.\n\nCommercial forestry plantation operator Sino-Forest said it has completed the acquisition of Mandra Forestry Holdings.\n\nInformation technology provider WebTech Wireless noted that its real-time passenger information service was officially launched on February 4 by the Societe de Transport de Laval. \n\nLogistic services provider Vitran Corp. said its fourth-quarter net loss narrowed to $0.14 per share from $5.85 per share in the prior-year period. \n\nBroadband wireless communications service provider Wi-LAN announced that the company has signed a letter of intent to settle a lawsuit filed against it by TELUS.\n\nDrug delivery company IntelGenx Corp. announced receipt of a Complete Response Letter from the U.S. FDA for its antidepressant CPI-300.\n\nBrookfield Infrastructure Partners slipped to loss reporting a fourth-quarter net loss of $0.10 per share compared with a profit of $0.55 per share in the prior-year period.\n\nModular structures rental operator Black Diamond Gr...