RTTNews - Bay Street stocks continue to hover near the unchanged mark on Wednesday as strength in the technology sector has offset losses for mining stocks.
The S&P/TSX Composite Index has added 4.27 points or 0.03% to move 10,922.27. The market has risen more than 100 points off its lows of the day.
Technology stocks are up 0.9% to lead the way. Celestica (CLS.TO) has rallied 2.1% to lead the gainers.
Mining stocks are down 1.2%. Thompson Creek Metals (TCM.TO) has dropped 6.7% after the company announced it will offer 15.5 million common shares of the company at a price of C$14.00 per share.
In other corporate news, Canadian Imperial Bank of Commerce (CM.TO) has dropped 5.3% after the lender announced that its third quarter earnings per share were $1.02, compared with $0.11 a year ago. Analysts were looking for EPS of $1.39.
Royal Bank (RY.TO), Toronto-Dominion Bank (TD.TO) and National Bank of Canada are scheduled to report earnings tomorrow and Scotiabank (BNS.TO) is due on Friday. Bank of Montreal (BMO.TO) reported on Tuesday.
Canadian Pacific Railway (CP.TO) is up 2.6% after the stock was upgraded to Outperform from Sector Perform at RBC Captial Markets. The railroad operator's target price was raised to $67 from $49 by the firm.
Eldorado Gold Corp. (ELD.TO) has dropped 4.75% after the company announced a deal to acquire the remaining shares of Sino Gold Mining Limited. The deal is worth about A$2.2 billion or C$2.0 billion.
CAE Inc. (CAE.TO) has added 1.2% after the company announced a series of military contracts with prime contractors and other military customers valued above C$100 million.
Corby Distilleries (CDL-B.TO) has gained 2.4% after the company reported its net earnings for the fourth quarter increased 23% to C$7.40 million from C$6.00 million in the year-ago quarter. On a per share basis, net earnings increased 24% to C$0.26 from C$0.21 last year.
Uranium One Inc. (UUU.TO) has dropped 2.7% after Titan Uranium announced an agreementto acquire the 50% interest held by Uranium One in the Sheep Mountain property in Wyoming. The deal is worth at least US$850,000.
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