RTTNews - Canadian stocks will look to rebound on Thursday as markets overseas are seeing modest strength. Bay Street's main index was little-changed yesterday after back-to-back sharp drops.
Resource stocks could lead the gainers as commodities are higher. Gold is up $4.50 to $983.00 per ounce after surging $22 yesterday. Crude oil has added 70 cents to $68.75 in electronic trading.
In corporate news, Wi-LAN (WIN.TO) reported that its third-quarter net loss was C$1.3 million or C$0.01 per share, compared to a net loss of C$3.5 million or C$0.04 per share last year. Pro forma earnings for the quarter were C$3.5 million or C$0.04 per share, compared to pro forma earnings of C$495,000 or C$0.01 per share in the year ago quarter.
Ridley Inc. (RCL.TO) reported that its fourth-quarter net loss was US$8.4 million or US$0.60 per share, compared to net earnings of US$1.2 million or US$0.08 per share in the fourth quarter of fiscal 2008.
Pluspetrol Resources said that its unit, 1462627 Alberta, has extended the expiry time for its all-cash offer to acquire Petro Andina Resources (PAR.TO) to September 14.
Alimentation Couche-Tard said it looking to double its outlets in North America over the next several years, according to the National Post.
Across the border, the Labor Department reported jobless claims edged down to 570,000 from the previous week's revised figure of 574,000. Economists had been expecting jobless claims to slip to 564,000 from the 570,000 originally reported for the previous week.
Monthly job situation reports are due tomorrow from both the U.S. and Canada.
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