Business
TSX gains
TSX gains
About this update from Maxim Power Corp.
[{"type":"text","content":"\nTSX gains\n\nIndustrials, techs lead T.O.\n Mar. 25, 2010 (Baystreet.ca) -- Boosted by a recovery in commodities prices and positive cues from the euro zone, Canadian stocks were hovering in the green in mid-morning deals Thursday.\n\nThe S&P/TSX Composite Index approached noon higher by 79.28 points to 12,042.25\n\nThe euro snapped back from a 10-month low versus the dollar, boosting commodities prices after the ECB President announced that the bank will extend its emergency collateral rules beyond this year.\n\nBase metals stocks were in the limelight, with the index adding strength. \n\nIvanhoe Mines was up 2.41%. Wednesday, the company said it would consider spinning off its 50%-owned Altynalmas Gold venture.\n\nTeck Resources gained 1.18%.\n\nAmong IT stocks, Celestica Inc rose 1.63%.\n\nInfrastructure technology company Pure Technologies added 2.22% after posting improved fourth-quarter net income of $0.07 per share, compared with $0.02 per share in the same quarter last year.\n\nIn the financial space, Intact Financial rose 1.14%.\n\nMeanwhile, insurance and financial services company Industrial Alliance Insurance eased 0.26% after it said it may spend as much as $750 million for acquisitions in U.S. and Canada over the next five years.\n\nAthletic apparel maker lululemon athletica rallied 11.41% after reporting huge growth in its fourth quarter net income at $0.40 per share compared to $0.16 per share in the year-ago quarter. Analysts were expecting the company to report $0.29 per share for the quarter. \n\nCanadian National Railways rose 1.93% after Macquarie upped its rating on the stock to an "Outperform" from a "Neutral".\n\nIndependent power producer Maxim Power was up 0.90% despite reporting a lower fourth-quarter net income of $0.01 per share, compared to $0.15 per share last year. \n\nOil explorer Crocotta Energy edged up 0.75% after it swung to profit in the fourth quarter, reporting net earnings of $0.05 per share, compared to net loss of $0.07 per share last year.\n\nExplorer West Energy eased 0.59% after reporting a wider net loss for the fourth quarter at $0.03 per share, compared to a loss of $0.03 per share in the year-ago quarter.\n\nPrecious metal explorer Shore Gold slipped 2.11% even after reporting a narrower full year net loss of $0.04 per share, compared to a loss of $2.48 per ...