Google Übersetzer
Apr. 1, 2010 (Baystreet.ca) --
Canadian stocks were moderately higher at the open Thursday amid continued recovery in commodities prices and lackluster corporate earnings news. The S&P/TSX Composite Index began the last session of a short week up 48.18 points to 12,085.91. While a relatively encouraging prelude to Friday's U.S. non-farm payrolls report may lift spirits, disappointing quarterly results from RIM and Bombardier could raise red flags about the corporate climate. Canadian stocks may stall after grinding out gains to reach their highest levels since the onset of the financial crisis. North American markets are closed for Easter break Friday. In corporate news, blackberry maker Research In Motion reported fourth-quarter net income of $1.27 per share, up from $0.90 per share in the year-ago period. However, the numbers missed analysts' expectations for a net profit of $1.28 per share. For the forthcoming quarter, the company guided earnings per share to be in the range of $1.31-$1.38. Goldman Sachs trimmed its rating on the stock to "Sell" from "Neutral". Wireless communications company BCE Inc. said Wednesday that it will purchase for cancellation four million of its common shares pursuant to a private agreement with an arm's-length third-party seller. Bombardier Inc. reported lower net income of $0.10 per share in fourth-quarter, compared to $0.17 in the same quarter last year. The company announced a quarterly dividend of $0.025 per share. Gold miner Barrick Gold acquired an additional 25% interest in the Cerro Casale Project in Chile from Kinross Gold Corporation for $474 million and now owns a 75% interest in and gains control of the project. Australian miner Lihir Gold announced Thursday that it has rejected a A$9.20-billion takeover bid by rival gold producer Newcrest Mining. Mineral explorer Lake Shore Gold said it will sell its 50% ownership interest in the Ti-pa-haa-kaa-ning Joint Venture to Northern Superior. Oil and gas company Canadian Natural Resources said it will buy back up to 2.5% of its outstanding shares in the next 12 months. Oil fields services provider Forbes Energy Services reported a wider fourth-quarter net loss of $0.10 per share, compared to a net loss of $0.04 per share in the prior-year quarter. Diamond miner and retailer Harry Winston Diamond reported a narrower fourth-quarter net loss of $0.04 per share, compared to a loss of $1.19 per share in the same period last year. Renewable energy company Ram Power, slipped into the red, posting fourth-quarter net loss of $0.15 per share, compared with a net income of $0.01 per share in the same quarter last year. Oil and gas industry services provider Hyduke Energy Services reported fourth quarter net income of $0.001 per share, compared to a net loss of $0.186 per share in the previous-year quarter. Electronics manufacturing services company Adeptron Technologies reported fourth-quarter net loss of $0.01 per share, compared with a net income of $0.01 per share in the same quarter last year. The Canadian dollar pushed toward parity with its American counterpart, gaining half a cent to 98.98 cents U.S. ON BAYSTREET All but two of the 14 TSX subgroups were higher soon after the bell. Global base metals and gold surged 1.9% each, with the metals and mining group close behind at 1.8%. The two laggards were information technology, off 1.4%, and industrials, sliding a mere 0.02%. The TSX Venture Exchange picked up 8.70 points to 1,585.25. The Nasdaq Canada index gave back 24.42 points to 775.42. ON WALLSTREET In New York, stocks opened with a bang Thursday after the government said the number of Americans filing for first-time claims for jobless benefits matched a 19-month low. The Dow Jones industrial average shot 84.87 points higher to 10,941.50. The S&P 500 tacked on 10.81 points to 1,180.24. The Nasdaq grew 21.61 points to 2,419.57. Stocks ended slightly lower Wednesday, pressured by disappointing reports showing that private-sector employers continued to cut jobs in March and manufacturing activity slipped. Despite Wednesday's losses, stocks finished the quarter with gains. The Dow climbed 4.1% over the first three months of the year, while the S&P added 4.9% for the quarter. The Nasdaq had the strongest quarterly showing, up 5.7%. Government figures from both China and the United Kingdom showed that manufacturing activity rose more than expected during March. The reports raised optimism that the global economy will continue its gradual recovery, said at least one expert. The number of Americans filing for unemployment insurance for the first time fell last week, matching the lowest level since August 2008, the Labor Department said. There were 439,000 initial jobless claims filed in the week ended March 27, down 6,000 from an upwardly revised 445,000 the previous week. Economists surveyed by Briefing.com expected new claims to dip to 440,000 in the week. Separately, a report from outplacement firm Challenger, Gray & Christmas Inc. showed that planned job cuts accelerated in March. Employers announced plans to cut 67,611 jobs in March, Challenger said. That's up 61% from February, when 42,090 jobs were lost, the lowest level in nearly four years. February construction spending from the Census Bureau is due out after the start of trading. Spending is expected to have fallen 1% after falling 0.6% in January. The Institute for Supply Management's manufacturing index, due at 10 a.m. ET, is expected to have risen to 57 in March from 56.5 in February, signaling further expansion in the sector. March auto and truck sales are due later in the day. The price of the benchmark 10-year note sagged, thus raising the yield to 3.86% from Wednesday's 3.83%. Treasury prices and yields move in opposite directions. The price of a barrel of oil gained $1.19 to $84.95 U.S. Gold prices soared $11 to $1,125 U.S. an ounce.