Business
Equities roar ahead
Equities roar ahead
About this update from Dorel Industries Inc. Class A
[{"type":"text","content":"\nEquities roar ahead\n\nTake cheer from jobs report\n Nov. 5, 2009 (Baystreet.ca) -- Canadian stocks remained in the green in afternoon deals on Thursday, following strength seen in the U.S. and Europe. Traders mulled over an assortment of earnings news, as well as better-than-expected economic data from the U.S.\n\nThe S&P/TSX composite index finished ahead 109.50 points or a full percentage point to 11,180.70.\n\nTelecom stocks gained, as Telus added 2.8% to $33.95 and BCE was up 2.6% to $26.46 to lead the sector higher. \n\nIn corporate news, Dorel Industries surged 10.4% to $32.80 after the company reported third-quarter net income of $30.2 million U.S. or $0.91 U.S. per share compared to $27.2 million U.S. or $0.82 U.S. per share in the year-ago quarter. \n\nFortis gained 1.6% to $25.81 after the company posted third-quarter net earnings of $36 million or $0.21 per share, compared to $49 million or $0.31 per share in the same quarter last year.\n\nSun Life Financial dropped 6.5% to $28.16 after the company reported a third-quarter net loss of $140 million, compared to a net loss of $396 million in the third quarter of 2008. \n\nManulife Financial lost 3.6% to $19.86 after the company reported third-quarter net loss of $172 million, compared to net income of $510 million last year.\n\nGoldcorp reported third-quarter net income for the third quarter was $114.2 million U.S. or $0.16 U.S. per share, down from $297.2 million U.S. or $0.42 U.S. per share for the year-ago quarter. The stock was up 1.3% to $43.18.\n\nAurizon Mines Ltd. added 1.5% to $4.90 after the company said its third-quarter net income rose to $8.2 million from $7.1 million in the prior-year period. \n\nCanadian Natural Resources lost 1.3% to $67.71 after the company reported third-quarter net earnings were $658 million or $1.21 per share, much lower than prior year's $2.84 billion or $5.25 per share.\n\nAgrium gained 4% to $53.27 after the company announced that it is increasing its exchange offer to acquire CF Industries Holdings to $92.99 per CF share. \n\nIndustrial-Alliance Insurance dropped 0.7% to $30.25 after the shares were downgraded to “neutral” from “outperform” at Credit Suisse.\n\nRoctest Ltd soared 25.2% to $1.74 after the company posted third-quarter net earnings of $400,000 or $0.07 per share, compared to $150,000 o...