Dec. 18, 2009 (Baystreet.ca) --
Canadian stocks are slightly higher on Friday after surrendering early gains. Strength in the technology sector has offset a drop for mining stocks. The S&P/TSX Composite index was ahead by noon, but only 37.55 points, to 11,510.61, off its highs for the day. Tech stocks have gained as Research in Motion has surged nearly 10%. The company reported that its third-quarter net income increased to $628.37 million U.S. or $1.10 U.S. per share from $396.30 million U.S. or $0.69 U.S. per share last year. Analysts expected the company to report profit of $1.04 U.S. per share. Mining stocks are down, what with HudBay dropping 7%, First Quantum is down 2.2% and Inmet has lost 2%. In other corporate news, Patheon has turned down 0.8% after the company reported fourth-quarter net income of $4.6 million U.S., compared to $37.3 million U.S. last year. Earnings per share were $0.036 U.S., compared to $0.394 U.S. in the prior-year quarter. Royal Gold has slipped 0.4% after it agreed to acquire International Royalty Corp. in a cash-and-stock deal worth about $749 million. International Royalty has added nearly 4%. Enerflex Systems Income Fund has added 1.8% after the company raised its offer to acquire Toromont Industries Ltd. to $14.25 per unit or about $315.6 million. Toromont has dropped 1.4%. Commercial Solutions has dropped 7.4% after the company reported its fourth-quarter net loss was $1.77 million or $0.09 per share, compared to a net income of $820,000 or $0.04 per share a year ago. On the economic front, wholesale sales climbed by 0.3% in the month of October, compared to a revised gain of 0.1% in the prior month. Analysts expected a 0.1% increase. The Canadian dollar strengthened 0.27 cents to 93.67 cents U.S. ON BAYSTREET Losing groups nosed out gainers eight to six, among the 14 TSX subgroups. Metals and mining took the biggest hit, off 1%, followed by their brethren among global base metals, down 0.5% and real-estate, sliding 0.3%. The gainers were led by information technology, surging 3.3%, gold, up 0.8% and telecoms, gaining 0.5%. The TSX Venture Exchange was ahead 5.84 points by noon to 1,426.99, while the Nasdaq Canada index jacked up 45.84 points to 735.04. ON WALLSTREET In New York, stocks turned mixed Friday, with technology shares leading the rebound attempt amid heavy volume, on a day of contract expirations and little economic news. The Dow Jones Industrials back slid 10.35 points to 10,297.91, while the S&P 500 remained higher by 1.94 points to 1,098.02, while the Nasdaq was still ahead 17.30 to 2,197.35. Experts opined trading could be volatile since Friday is also quadruple witching -- a quarterly event when stock index futures, stock index options, single stock futures and stock options all expire simultaneously. Tech shares led the attempts to advance, boosted by upbeat earnings reports after the closing bell Thursday from big gainers in Oracle and Research in Motion. Oracle, the world's number-two business software maker, reported earnings per share of 39 cents U.S., beating the forecast of 36 cents. Oracle shares were up 6.7% Friday. Nike reported its earnings fell to 76 cents U.S. in the second fiscal quarter from 80 cents U.S. per share a year earlier. Pepsi announced late Thursday that it will not advertise in this season's Super Bowl. The beverage giant has advertised the past 23 years, and was among the top four advertisers during last season's game. Treasury prices eased back, picking up yield on the benchmark 10-year note to 3.51% from Thursday's 3.48%. Prices and yields move in opposite directions. The price of a barrel of oil gained 83 cents to $73.48 U.S. Gold prices picked up three dollars to $1,110 an ounce U.S. Stocks skid in volatile trading