SH@theBell: Stock markets resist oil price pressure

Thu May 8, 6:05 PM

Word on Wall Street

"Consumers are focusing on value and price points and stretching their dollars," said Ken Perkins president of RetailMetrics LLC, a research company in Swampscott, Mass., in an interview with the Associated Press. "They are feeling the pinch on multiple fronts."

Selected expected U.S. earnings releases for Friday
(Consensus Estimates vs. Last Year)
CapLease (NYSE: LSE) Q1 $0.28 vs. $0.24
Clear Channel (NYSE: CCU) Q1 $0.21 vs. $0.20
Gray Television (NYSE: GTN) Q1 $-0.10 vs. $-0.24
Rosetta Resources (NASDAQ: ROSE) Q1 $0.39 vs. $028
Sotheby's (NYSE: BID) Q1 $0.10 vs. $0.25
Westar Energy (NYSE: WR) Q1 $0.31 vs. $0.34

Selected expected Canadian earnings releases for Friday
(Consensus Estimates vs. Last Year)
Enerplus Resources Fund (TSX: ERF.TO) Q1 US$0.92 vs. $0.74
 

After-Hours News

Activision (NASDAQ: ATVI)
After Thursday's close, Activision reported a profit for Q4 as video game sales nearly doubled during the period. For the quarter, the video game publisher reported earnings of $44.2 million, or 14 cents a share, compared to a loss of $14.4 million, or five cents a share, for the year-ago period. Excluding charges related to the accounting of stock options, the company said it would have earned $54.9 million, or 17 cents a share. Revenue skyrocketed 93% to $602.5 million for Q4. According to consensus estimates from FactSet Research, analysts were expecting earnings of four cents a share on revenue of $364.8 million for the period.

Rutter (TSX: RUT.TO)
The company, after Thursday's closing bell, announced that its subsidiary, Rutter Technologies Inc., has been awarded a $1.25 million contract by General Dynamics Land Systems - Canada.

Today In The Markets

TSX soars on energy, mine stocks close to all-time closing high

DJIA 12,866.78 52.43
NASDAQ 2,451.24 12.75
S&P500 1,397.68 5.11
S&P/TSX 14,607.99 236.46
S&P/TSX Venture 2,539.45 34.87

TORONTO, NEW YORK (CP) - Another day of surging commodity stocks, particularly in the energy sector on record high crude oil, sent the Toronto stock market to less than 20 points away from its all time record closing high.

Toronto's S&P/TSX composite index ran ahead 236.46 points or 1.64 per cent to 14,607.99, close to the time high of 14,625.76 from late last July. The TSX Venture Exchange gained 34.87 points to 2,539.45 and the Canadian dollar moved down 0.98 cent to 98.32 cents US as the seasonally adjusted annual rate of housing starts dropped to 213,900 units in April from 243,000 in March.

New York's Dow Jones industrials gained 52.43 points to 12,866.78. The Nasdaq composite index rose 12.75 points to 2,451.24 while the S&P 500 index climbed 5.11 points to 1,397.68.