Investing.com — Canada's main stock index, the S&P/TSX Composite traded on a negative note on Thursday, while Wall Street’s main indices were muted on the whole.
Sentiment in Canadian markets remained cautious after commentary and meeting minutes from the Bank of Canada struck a hawkish note, and as participants await tomorrow’s domestic employment data.
Toronto Stock Market News
Enerplus (TSX:ERF) jumped to the top of the TSX after reports that Devon Energy (NYSE:DVN) had approached the company with an acquisition offer.
Lightspeed (TSX:LSPD) shares fell to the bottom of the TSX as the company’s results and guidance failed to impress investors, despite reporting narrowing losses and a beat on revenue expectations.
Bombardier (TSX:BBDb), which keeps its book in US dollars, reported that fourth-quarter profit fell by 11% to US$215 million from US$241 a year ago, Revenues came in at US$3.06 billion, up 15% from US$2.66 billion in the same period the year earlier. Bombardier also forecast better-than-expected 2024 revenue, expected at $8.4 billion to $8.6 billion, compared with analysts' expectations of $8.27 billion.
Bell Canada reported a profit of $382 million or 42 cents per diluted share in its latest quarter, compared with a profit of $528 million or 58 cents per diluted share a year earlier. Operating revenue totalled $6.47 billion, up from $6.44 billion a year earlier. BCE (TSX:BCE) also announced job cuts, which affect about 4,800 positions.
Cineplex Inc. reported a fourth-quarter loss of $9 million compared with a profit of $10.2 million a year earlier, with the loss amounting to 14 cents per diluted share compared with a profit of 16 cents per diluted share a year earlier. Revenue for the quarter totalled $315.1 million, up from $309.9 million a year ago.
Thomson Reuters (TSX:TRI), which keeps its books in US dollars, reported a profit of US$678 million or $1.49 per diluted share for the quarter ended Dec. 31, up from US$218 million or 45 cents US per diluted share this time a year ago. Revenue for the quarter totalled US$1.82 billion, up from US$1.77 billion a year earlier. The company also announced an increase to its quarterly dividend to 54 cents US, up from 49 cents US per share.
Scotiabank (TSX:BNS) cut its price target on ATS Corp (TSX:ATS) to $61 from $64.
CIBC (TSX:CM) cut its price target on Finning International (TSX:FTT) Inc to $46 from $48
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