Canadian stocks will look to extend their gains from the previous session Friday morning. However, energy stocks may slump after the price of oil dropped in early dealing.

Bay Street stocks surged to the upside on Thursday and reached a new 6 1/2 week high.

The S&P/TSX Composite Index rallied 198.06 points or 2.25% to end at 8,995.50. The index touched above 9,000 in intraday trading for the first time since Feb. 10.

Aurizon Mines Ltd. (ARZ.TO: News ,AZK: News ) revealed the appointment of Roger Walsh as Vice President, Corporate Development and the promotion of Michel Gilbert as Executive Vice President, Operations.

Ondine Biopharma Corp. (OBP.TO: News ,OBP.L: News ) reported fourth-quarter loss of C$2.12 million or C$0.03 per share, compared to loss of C$2.73 million or C$0.05 per share last year.

Agrium Inc. (AGU.TO: News , AGU) revealed an increase in its exchange offer to acquire all of the outstanding shares of CF Industries Holdings, Inc. (CF).

CF stockholders will now receive $35.00 in cash, an increase of $3.30, or 10.4%, in the cash consideration, as well as one common share of Agrium for each CF share.

Premium Brands Income Fund (PBI_U.TO), a manufacturer of consumer food products, reported Friday a decline in fourth-quarter profit, reflecting higher cost of commodity protein inputs as well as administrative expenses.

The company's quarterly earnings for the period declined to C$2.96 million or C$0.17 per unit from C$3.17 million or C$0.18 per unit in the previous year.

On the commodities front, the price of oil was down $2 at $52.49 a barrel.

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