Business
TSX off on right foot
TSX off on right foot
About this update from Tc Energy Corporation
[{"type":"text","content":"\nTSX off on right foot\n\nCdn. job picture brighter\n Mar. 12, 2010 (Baystreet.ca) -- Canadian stocks experienced a positive opening Friday on firm commodity prices. \n\nThe S&P/TSX composite index vaulted out of the starting gate up 67.87 points to 12,047.57. \n\nAlso, encouraging news in the form of domestic jobs data, a spurt in euro zone industrial production in February and better-than-expected retail sales data form the U.S. will likely to help lift sentiment.\n\nThe price of crude oil was up, after IEA raised its global oil demand outlook \n\nThe price of bullion bounced back Friday morning after drifting to $1.100-mark intra-day Thursday. \n\nIn corporate news, fertilizer company Potash Corp. upped its first-quarter earnings outlook to be in the range of $1.30 to $1.50 per share, compared to prior estimate of $0.70 to $1.00 per share. Analysts expect the company to report $0.94 per share for the first quarter. \n\nAgriculture products and services provider Agrium Inc. said Thursday it will no longer pursue an acquisition of CF Industries Holdings Inc. and will allow its offer to expire on March 22.\n\nEnergy stocks may be in play after Alberta said Thursday that it will cut royalty rates for oil and gas industry in a bid to attract investment. Canadian Oil Sands owns the largest stake in Syncrude oil sands project in Alberta \n\nPrecious metal explorer Goldcorp reported lower fourth quarter net earnings of $0.09 per share compared to $1.31 per share in the prior year quarter. However, on an adjusted basis, net earnings were $0.25 per share compared to $0.12 in the prior year period. \n\nEnergy company Provident Energy Trust reported narrower fourth quarter net loss of $0.08 per unit, compared to a loss of $0.17 per unit in the same period last year.\n\nPipeline operator TransCanada Corp. said it received approval from National Energy Board to construct and operate a 3,200-kilometre, 36-inch crude oil pipeline in the Keystone Gulf Coast Expansion Project. \n\nBuilding construction services provider Churchill Corp reported lower fourth-quarter net earnings of $0.46 per basic share, compared to $0.63 per basic share last year. \n\nXinergy Ltd. said it will acquire all the outstanding membership interests in Raven Crest Mining LLC from JMP Coal Holdings LLC for $40 million.\n\nWood products maker Stella-Jones reported a dip...