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Bay Street Deals With Earnings Deluge -- Canadian Commentary

Canadian stocks are set for a weak open Thursday morning, taking a negative cue from the U.S. market.

The Dow Jones Industrial Averages was set for a triple-digit retreat this morning. In Canada, the TSX Composite Index is likely to slide from record highs above 16,000.

Traders will sift through a pile of mixed earnings news and other corporate headlines.

Kinross Gold Corp. (K.TO) earnings fell 35%.

Sun Life Financial Inc. (SLF.TO) earnings per share was up a penny to $1.05, as revenue fell.

Manulife Financial (MFC.TO) earnings were up 9%.

Automotive supplier Magna International Inc. (MG.TO, MGA) lifted its forecast for fiscal 2017 revenues.

Quebecor Inc.(QBR_MV_A.TO) announced a stock split and strong third quarter profit.

Telus Corp (T.TO) raised its quarterly dividend but missed profit estimates.

Canadian Tire Corp.(CTC_A.TO) earnings were flat last quarter.

Brookfield Asset Management Inc.(BAM.A.TO) earnings tumbled 51%.

Cameco (CCO.TO) said it was shutting down uranium productions at two Saskatchewan sites.

Canadian new house prices rose 0.2% in September, largely reflecting increases in Kelowna (+0.9%) and Vancouver.(+0.7%).

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

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