Business
Stocks dip in early trading
Stocks dip in early trading
About this update from Canfor Corporation
[{"type":"text","content":"\nStocks dip in early trading\n\nHealth-care, financials suffer at outset\n Feb. 11, 2010 (Baystreet.ca) -- Canadian stocks opened lower Thursday as traders were waiting for the details of the plan announced by the European Union to rescue the debt-laden Greece.\n\nThe S&P/TSX Composite Index recovered 8.32 points to start the day to 11,278.01. \n\nThe Financials Index was down, with Royal Bank of Canada slipped 0.49%. Sun Life Financial shed 3.16% even after reporting better quarterly results.\n\nAmong energy plays, Canadian Oil Sands eased 0.21%. Meanwhile, EnCana Corp. added 0.65% despite reporting lower fourth-quarter net earnings.\n\nOn the other hand, the Gold Index edged up, with Lihir Gold adding 3.01%. Gold miner Kirkland Lake Gold edged up 0.14%. The company announced the appointment of Mark Stephen Tessier as COO and John Sidney Thomson as chief financial officer. \n\nMultiple goods retailer Canadian Tire tumbled 9.08% after reporting lower fourth-quarter earnings. \n\nForest products company Canfor Corp. reported fourth-quarter net loss of $0.12 per share, down from $1.61 per share reported in the year-ago period.\n\nInsurance provider Sun Life Financial said its quarterly profits more than doubled. \n\nWireless network operator Sierra Wireless slipped into the red reporting a fourth-quarter net loss $0.09 per share compared to profit of $1.12 per share last year. \n\nNatural resources explorer Genco Resources announced that Leslie Goodman will replace Robert Gardner as Acting Chief Executive Officer, effective Wednesday. \n\nBio-pharmaceutical company Transition Therapeutics reported a second-quarter net loss of $0.26 per share, compared to a loss of $0.21 per share in the previous-year quarter. \n\nInformation technology service provider JDS Uniphase Canada said it will acquire the network solutions business of Agilent Technologies Inc. for $165 million in cash.\n\nEconomically speaking, Statistics Canada reported this morning that the New Housing Price Index rose 0.4% in December, the same increase as reported in November.\n\nThe Canadian dollar progressed 0.34 cents to 94.40 cents U.S. \n\nON BAYSTREET \n\nOf the 14 TSX subgroups, eight were lower in the day's first hour of trading. Health-care and financial stocks were 0.7% off, while consumer discretionaries were down 0.4%. \n\nThe six gainers were led by metal...