Banks in focus
The S&P/TSX composite index dipped 47.06 points to conclude Wednesday at 14,610.96
The Canadian dollar reversed
Bank of Montreal reported quarterly net income of
Investors also weren't thrilled with
Adjusted earnings were
The latest run of earnings followed reports from
Meanwhile, Valeant Pharmaceuticals shares gave back
Valeant made its initial bid along with activist investor
All but two of the 14 Toronto subgroups were in the red by day's end, weighed mostly by metals and mining, down 2.4%, gold, sliding 1.7%, and global base metals, off 1.5%.
The two gainers were industrials, up 0.3%, and energy, nosing ahead 0.2%.
The stock market was in cool-off mode Wednesday after its recent record highs.
The Dow Jones Industrial Average lost 42.32 points to 16,633.18
The S&P 500 fell back 2.13 points from Tuesday's record high to 1,909.78, and the NASDAQ composite index retreated 11.99 points to 4,225.08
Tesla Motors got zapped with junk bond status by ratings agency Standard & Poors, which pegged the electric carmaker's
DSW, a discount shoe outlet, lost more than a quarter of its market cap in early trading, as earnings came in at the lower end of expectations and same-store sales growth fell 3.7% from the year before.
Michael Kors reported results before the opening bell. Profits were a bit better than expected and sales are up by more than half.
The stock has remained relatively flat for much of the day, but Kors shares are up more than 17% since the start of the year as the brand seems to be winning the battle for upper middle class purse consumers.
Revenue abroad is growing quickly as well. Sales in
Toll Brothers reported surprisingly strong earnings before the open, bouncing back from a disappointing start to the year because of the winter weather. Revenue was closer in line with expectations. It was one of the few stocks enjoying a bounce with shares up over 2%.
A handful of other homebuilder stocks are also seeing some small gains as well, including D.R. Horton, Lennar and PulteGroup.
Delta Airlines is up 2.5% in afternoon trading. It continues to be one of the top performers in the S&P 500 this year.
Delta recently announced more routes in and out of
Prices for 10-year U.S. Treasuries hiked, sharply lowering yields to 2.44% from Tuesday's 2.52%. Treasury prices and yields move in opposite directions
Oil prices fell
Gold prices plunged
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