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Energy Sector May Drag Stocks Lower -- Canadian Commentary

Canadian stocks are looking for direction Thursday morning, but may struggle amid lower oil prices yet again.

Crude oil futures were tumbling near $61 a barrel, having dropped from a 4-year peak near $66.

Suncor Energy Inc. (SU.TO, SU) reported that its fourth-quarter o,perating earnings were C$1.310 billion or C$0.79 per share compared to C$636 million or C$0.38 per share in the prior year quarter.

The oil company also raised its dividend 12%.

BCE (BCE.TO) said it added 175,000 postpaid wireless customers on a net basis in the fourth quarter, up sharply from last year.

TELUS Corporation (T.TO) said its bottom line came in at C$328 million, or C$0.55 per share. This was up from C$316 million, or C$0.53 per share, in last year's fourth quarter.

Thomson Reuters Corporation (TRI.TO) said earnings climbed to $428 million, or $0.60 per share. This was up from $228 million, or $0.31 per share, in last year's fourth quarter.

Canada Goose (GOOS) beat profit estimates.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

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