Word on Wall Street
"The risk of intervention is another factor why we would expect some stabilization in coming weeks," said Marcus Hettinger, an economist with Credit Suisse, in an interview with MarketWatch. "Several ECB officials have raised ... concern about disorderly movements in exchange rates. While it appears there will be more intervention risks ahead of the next G7 meeting in April, we do not view recent exchange-rate movements as out of line with fundamentals."
| Selected expected U.S. earnings releases for Friday | ||
| (Consensus Estimates vs. Last Year) | ||
| Centennial Communications (NASDAQ: CYCL) | Q3 | $0.06 vs. $0.00 |
| Centerstate Banks of Florida (NASDAQ: CSFL) | Q1 | $0.12 vs. $0.16 |
| Iamgold Corp. (NYSE: IAG) | Q4 | $0.11 vs. $0.04 |
| KB Home (NYSE: KBH) | Q1 | $-1.17 vs. $0.34 |
| Modtech Holdings (NASDAQ: MODT) | Q4 | $-0.08 vs. $-0.20 |
| Pall Corp. (NYSE: PLL) | Q4 | $0.58 vs. $0.50 |
| Steelcase (NYSE: SCS) | Q4 | $0.25 vs. $0.17 |
| Selected expected Canadian earnings releases for Friday | ||
| (Consensus Estimates vs. Last Year) | ||
| Art Advanced Resea (TSX: ARA.TO) | Q4 | NA vs. $0.03 |
After-Hours News
Steelcase (NYSE: SCS)
After Thursday's close, Steelcase reported that Q4 earnings rose 4.4% to $30.6 million, or 22 cents a share, from $29.3 million, or 20 cents a share, as its international business grew. Revenue increased in the quarter to $901.3 million from $778.4 million in the year-ago period. Analysts polled by Thomson Financial expected earnings of 25 cents a share and revenue of $863.9 million. The company said it expects Q1 earnings of 14 cents to 19 cents a share. Wall Street, on average, sees Q1 earnings of 26 cents a share.
ART Advanced Research (TSX: ARA.TO)
After Thursday's close, Steelcase reported that Q4 earnings rose 4.4% to $30.6 million, or 22 cents a share, from $29.3 million, or 20 cents a share, as its international business grew. Revenue increased in the quarter to $901.3 million from $778.4 million in the year-ago period. Analysts polled by Thomson Financial expected earnings of 25 cents a share and revenue of $863.9 million. The company said it expects Q1 earnings of 14 cents to 19 cents a share. Wall Street, on average, sees Q1 earnings of 26 cents a share.
Today In The Markets
Financials help send TSX higher; NY held back by bank profit warnings, oil surge
| DJIA | 12,302.46 | -120.40 |
|
| NASDAQ | 2,280.83 | -43.53 |
|
| S&P500 | 1,325.76 | -15.37 |
| S&P/TSX | 13,405.78 | 13.92 |
|
| S&P/TSX Venture | 2,521.09 | -6.45 |
TORONTO, NEW YORK (CP) - The Toronto stock market extended its winning streak to five sessions Thursday as gains from higher financial and base metals stocks were limited by falling tech, gold, and consumer stocks.
Toronto's S&P/TSX composite index moved up 13.92 points to 13,405.78. The TSX Venture Exchange edged 6.45 points lower to 2,521.09 while the Canadian dollar was ahead 0.04 of a cent at 98.19 cents US.
New York's Dow Jones industrials declined 120.4 points to 12,302.46. The Nasdaq composite index dropped 43.53 points to 2,280.83 after database software giant Oracle said quarterly profit jumped 30 per cent but sales fell short of expectations with a 21 per cent increase to US$5.35 billion. Traders were also unnerved by management's outlook. Its stock fell $1.51 to US$19.43.
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86.80 (0.59%)
