RTTNews - Toronto stocks could struggle to find direction in early trading Thursday as investors ponder a slew of earnings news. Commodities are little-changed and U.S. stock futures are flat.
Crude oil is down 20 cents to $65.20 per barrel, after snapping a five-session losing streak yesterday. Several big companies in the energy sector are in the earnings picture.
EnCana Corp. (ECA.TO) reported second-quarter net earnings plunged to US$239 million or US$0.32 per share from prior year's net earnings of US$1.22 billion or US$1.63 per share.
Husky Energy (HSE.TO) reported second quarter earnings of $430 million or $0.51 per share, compared to $1.36 billion or $1.60 per share a year earlier.
On the metal front, gold has added 30 cents to $953.60 per ounce, continuing its limited movement. Silver is down 2 cents to $13.72 an ounce and copper has dropped 3.15 cents to $2.494 per pound.
Teck Resources Limited (TCK.B.TO) reported its second quarter net earnings from continuing operations of C$521 million or C$1.07 per share, compared to C$500 million or C$1.12 per share in the previous year period.
Potash Corp. of Saskatchewan (POT.TO) reported second-quarter net earnings of US$187.1 million or US$0.62 per share, compared to US$905.1 million or US$2.82 per share in the same quarter last year.
Celestica (CLS.TO) announced that second quarter GAAP earnings of US$5.3 million or US$0.02 per share, compared to US$39.8 million or US$0.17 per share last year.
TransForce (TFI.TO) said its second-quarter net income decreased to $17.98 million or $0.21 per share from $19.28 million or $0.22 per share in the year earlier period.
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