Tim Hortons out with earnings
The S&P/TSX composite index recovered 31.69 points to greet noon at 15,219.40.
The Canadian dollar gained
Earnings news also pushed the market higher as Tim Hortons reported that same-store sales grew 2.6% in
Molson Coors Brewing Co. beat expectations as quarterly net earnings increased 9.5% to
On the economic front, Statistics Canada reported this morning that merchandise exports rose 1.1% in June, while imports declined 1.8%. So,
All but four of the 14 Toronto subgroups were positive by lunchtime, with gold soaring 1.6%, materials stronger by 0.9%, and health-care, up 0.5%.
The four laggards were weighed mostly by utilities and telecoms, each down 0.4%, and consumer staples, off 0.2%.
After struggling early on,
The Dow Jones Industrials recovered 28.03 points to 16,457.50
The S&P 500 moved forward 3.27 points to 1,923.48. The NASDAQ composite regained 16.02 points to 4,368.86.
All the major U.S. indexes dropped on Tuesday, with much of the retreat blamed on renewed concerns about geopolitical tensions with
Shares of Walgreens plummeted 12.5% after the company confirmed it's taking full control of the
Time Warner plunged 12% after
Time Warner shares remained under heavy sell pressure even after logging earnings that crushed expectations amid continued HBO strength. Fox, which is set to report after the close, rallied 5% on the deal news and new share buyback.
A tie-up between Sprint and T-Mobile is also now off the table. Shares of both companies tumbled on the news. That could leave French telecom company Iliad as the frontrunner to buy T-Mobile.
Groupon investors are holding a fire sale. The daily deals site plummeted 16.5% after alarming investors with a wider quarterly loss than expected and a gloomy outlook for the rest of the summer.
On a more positive note, AOL popped 9% as
Investors also chugged shares of Molson Coors Brewing. The brewer sold less beer during the second quarter but grew profits by hiking prices.
Shares of Activision Blizzard marched 2.5% higher as the maker of "Call of Duty" and other video games posted earnings that exceeded forecasts.
Bank of America ticked 1.5% higher after the Federal Reserve gave a green light to the bank's plan to boost its dividend. The approval follows an embarrassing math error by BofA.
Keurig Green Mountain is among the companies reporting after the close
Prices for 10-year U.S. Treasuries gained ground, lowering yields to 2.47% from Tuesday's 2.48%. Treasury prices and yields move in opposite directions.
Oil prices gathered
Gold prices spiked
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