Business
TSX resurges
TSX resurges
About this update from Thomson Reuters Corporation
[{"type":"text","content":"\nTSX resurges\n\nAll but gold in green\n\n Apr. 29, 2010 (Baystreet.ca) -- Bay Street stocks may recover from a two-day slump Thursday morning amid firm commodities prices and on hopes for a resolution for the Greece debt crisis.The S&P/TSX composite index gained 90.96 points in the first half-hour of trading to 12,167.85, after two straight days of losses.A fairly upbeat assessment of the U.S. economy by the Federal Reserve and bargain hunting might also help lift sentiment.The FOMC, at the end of a two-day policy meeting Wednesday, kept interest rates near zero for an "extended period." The central bank also said the labour market is beginning to improve and noted that housing starts have edged up.Research In Motion may be in play after Hewlett Packard yesterday announced a $1.2-billion deal to acquire Palm Inc., the ailing company that manufacturers smart phones.In corporate news, fertilizer maker Potash Corp. reported improved first-quarter earnings of $1.47 per share, compared with $1.01 per share earned in the same period last year. Analysts were expecting the company to record earnings of $1.32 per share for the quarter.For fiscal 2010, the company revised up its net income guidance to a range of $4.50 - $5.25 per share, from the earlier $4.00 to $5.00 per share.Gold miner Goldcorp slipped to loss in the first quarter, reporting net loss of $0.07 per share, compared to net income of $0.40 per share in the same quarter last year. Analysts were expecting the company to earn $0.25 U.S. per share for the quarter.Gold explorer Centerra Gold swung to profit in the first quarter, reporting net earnings of $0.52 per share, compared to a net loss of $0.09 per share in the same quarter last year.Fuel cell products maker Ballard Power reported narrower first-quarter net loss of $0.12 per share, compared to $0.23 per share in the year ago period.Integrated oil company Imperial Oil announced improved first-quarter net income of $0.56 a share, compared to $0.33 a share for the same period last year.Oil and natural gas company Cenovus Energy reported first-quarter net earnings of $0.70 per share, compared to $0.69 in the year-ago quarter. The company has declared a quarterly dividend of $0.20 per share.Entertainment company IMAX Corp. swung to profit in the first quarter, reporting net earnings of $0.40 per share versus a los...