RTTNews - Bay Street stocks could see little change at the open on Wednesday morning after soaring to an eight-month high in the previous session. U.S. futures are pointing at a flat open and commodities are hovering near the unchanged line.
Oil prices slipped slightly in electronic trading, but remained above $70 per barrel, as investors await the Energy Information Administration's weekly inventory report. Crude fell modestly yesterday after recent sharp gains took it to a seven-week high.
Gold prices fell $3.20 to $966.50 per ounce and copper was little-changed at $2.7895.
In corporate news, Agrium (AGU.TO) announced that its second quarter net earnings were US$370 million or US$2.35 per share, compared to US$636 million or US$4.00 per share, for the same quarter of 2008. Analysts expected the company to report earnings of US$1.81 per share for the quarter.
Yamana Gold (YRI.TO) reported adjusted second quarter net earnings of US$95.8 million or US$0.13 per share, down from US$102.7 million or US$0.15 per share in the year-ago quarter.
North American Energy Partners (NOA.TO) reported first-quarter net income of C$14.77 million, compared to C$19.10 million in the same quarter of last year. On a per share basis, net income for the quarter was C$0.40, compared to C$0.52 in the year ago quarter.
Fortis Inc. (FTS.TO) reporetd second-quarter net income applicable to common shares of C$53 million or C$0.31 per share, compared to C$29 million or C$0.18 per share in the same quarter last year.
Labopharm (DDS.TO) announced that it has filed a New Drug Submission or NDS with the Therapeutic Products Directorate of Health Canada for its novel formulation of the antidepressant trazodone.
Yesterday, the S&P/TSX Composite Index rallied 230.95 points or 2.14% to finish at 11,018.10. This marks the best finish since October 1 for Bay Street's main index.
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