Business
TSX starts mini-streak
TSX starts mini-streak
About this update from Windfall Geotek Inc.
[{"type":"text","content":"\nTSX starts mini-streak\n\nEnergy up, mining down in T.O.\n Dec. 10, 2009 (Baystreet.ca) -- Canadian stocks enjoyed a second straight daily gain on Thursday following the release of some encouraging economic data. Gains have been limited, however, amid worries over credit situations in Greece and Spain.\n\nThe S&P/TSX Composite climbed 75.35 points at the close at 11,454.57. \n\nEnergy stocks recovered some of the recent weakness, as Suncor added 3.3% to $36.80, Canadian Natural Resources was up 2.2% to $68.58 and Canadian Oil Sands gained 1.1% to $28.80. \n\nMining stocks gained as well, as HudBay surged 4.4% to $13.88 and Teck Resources gained 2.2% to $37.25\n\nIn corporate news, Gildan Activewear surged 10.9% to $23.34 after the company reported fourth quarter net earnings of $42.39 million U.S. or $0.35 U.S. per share, compared to $21.83 million U.S. or $0.18 U.S. per share last year. \n\nADF Group plunged 6% to $2.51 after the company posted third-quarter net earnings of $1.4 million or $0.04 per share, compared to $6.5 million or $0.18 per share for the same quarter last year.\n\nWest 49 was unchanged at 51 cents after the company reported third quarter net income and comprehensive income of $2.9 million or $0.04 per share, compared to $2.07 million or $0.03 per share last year.\n\nWi-LAN was down 2.3% to $2.59 despite reporting fourth-quarter net earnings of $16.5 million or $0.16 per share, compared to $277,000 or breakeven per share in the last-year quarter.\n\nLululemon Athletica reported net income for the third quarter of $14.1 million U.S. or $0.20 per share, compared to $8.8 million or $0.13 per share in the year-ago quarter. However, the stock was down 4% to $28.06. \n\nResearch in Motion added 2.2% to $69.30 after being reiterated at "outperform" by RBC Capital Markets. The target price was cut to $120 U.S. from $150.\n\nIn economic news, Statistics Canada reported an unexpected trade surplus of $428 million in October, compared to a deficit of $850 million in the prior month. Exports were up 3.4%.\n\nThe Canadian dollar was ahead 0.37 cents to 95.21 cents U.S. \n\nON BAYSTREET \n\nAll but three of the 14 TSX subgroups were positive at the end of the day. Energy stocks gained 1.8%, followed by metals and mining stocks, up 1.3% and consumer discretionaries, ahead 1%. \n\nThe three losing groups were tel...