Canadian News
Dell Earnings, Commodities Could Drag TSX Lower - Canadian Commentary
11/20/2009 9:00 AM ET
(RTTNews) -
Toronto stocks could see early weakness for a second straight session as a disappointing earnings report from computer giant Dell (DELL) is expected to weigh on North American markets.
Dell reported net income the third quarter of $337 million or $0.17 per share, compared to $727 million or $0.37 per share in the year-ago quarter. Wall Street expected the company to earn $0.28 per share.
Commodities are also lower in early trading. Crude oil has slipped 54 cents to $76.92 per barrel, gold is down $2.60 to $1,139.30 and copper has is basically flat at $3.105.
Softchoice Corp. (SO.TO) said it has entered into a bought deal agreement to sell 2.25 million common shares at C$7.75 per share for gross proceeds of C$17,437,500.
Torstar Corporation (TS_B.TO) announced that David Holland has been confirmed as President and Chief Executive Officer of Torstar Corporation, after holding the position on an interim basis since last May.
Voice Mobility International (VMY.TO) reported a third-quarter loss from operations of $496,354 compared with $594,816 loss last year.
Yesterday, the S&P/TSX Composite Index lost 52.39 points or 0.44% to settle at 11,600.30. The index had earlier dropped below 11,500.
by RTT Staff Writer
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