Business
TSX stumbles
TSX stumbles
About this update from Genesis Ai Corp
[{"type":"text","content":"\nTSX stumbles\n\nAnniversary of bear market\n Mar. 9, 2010 (Baystreet.ca) -- Canadian stocks began another lackluster session Tuesday as the prices of commodities ticked lower in morning deals. \n\nThe S&P/TSX composite index lost 28.16 points in the first half-hour of business to 11,935.68. \n\nWith a light economic calendar this week, traders are is likely to look to the movements in commodity prices and earnings reports from corporations. \n\nHowever, financial stocks could support the main index after Scotiabank, in line with most other major banks, reported improved quarterly income that beat consensus estimates. \n\nIn corporate news, Scotiabank reported that its earnings improved to $0.93 a share in the first quarter from $0.82 in the year ago period. Analysts were expecting the bank to report a net income of $0.87 per share. \n\nEarlier this month, Toronto-Dominion Bank said its quarterly net income nearly doubled and RBC reported over 30% jump in its earnings. \n\nGold and copper explorer Northgate Minerals slipped to loss in fourth-quarter reporting net loss of $0.23 per share, as against a profit of $0.07 per share in the prior-year period. Analysts were expecting the company to report earnings of $0.03 per share for the quarter.\n\nOil and gas explorer NuVista Energy reported lower fourth-quarter net earnings of $0.12 per share, compared to $0.31 per share last year.\n\nOil and gas company Pengrowth Energy Trust reported a huge decline in its fourth-quarter profit at $0.18 income per trust unit compared to $0.58 in the prior year.\n\nAerospace and transportation equipments maker Bombardier Inc. has decided to withdraw its proposed institutional private placement of new senior notes, due to the current unfavourable conditions in the debt capital markets.\n\nSoftware services provider Enghouse Systems posted first-quarter net income of $0.08 per share compared with $0.03 per share in the previous year period.\n\nCommunications network services provider Prestige Telecom said it will be acquiring all the issued and outstanding shares of Majetel Inc and believes this will be immediately accretive to Prestige.\n\nAgriculture and construction equipments dealer Rocky Mountain Dealerships swung to profit in fourth quarter, reporting net earnings of $0.35 per share, compared to a net loss of $7.34 per share in the year-ago pe...