Today in the markets
U.S. stocks edged up Wednesday, with the Dow extending its record run as February retail sales came in surprisingly high, boosting confidence in the economy.
Canadian stocks extended losses in afternoon trade after hitting a 19-month high the day before, hurt by a broad selloff that went against the positive trend in U.S. trading.
The S&P/TSX Composite fell 134.47 points to 12,744.11, while the TSX Venture Exchange was off 3.79 points to close at 1,115.36.
Active stocks included Herbalife Ltd. (NYSE: HLF, Stock Forum). It was in the spotlight after a consumer advocacy group called on the Federal Trade Commission to investigate allegations that the nutrition supplement company is a multi-level marketing company. The stock eased 3.6% to $38.92
J.C. Penney Co. (NYSE: JCP, Stock Forum) closed unchanged at $15.65 following the Tuesday rally sparked by speculation that the retailer may boot its chief executive officer. The stock traded as high as $16.33 on Wednesday.
In Canada, a late surge in BlackBerry (TSX: T.BB, Stock Forum) shares cushioned the fall in the TSX. Blackberry was up 8.2% to $16.04.
Meanwhile, Alamos Gold Inc. (TSX: T.AGI, Stock Forum) CEO John McCluskey said the company is likely to walk away from a bid to buy Aurizon Mines Ltd.’s (TSX: T.ARZ, Stock Forum) if it loses a regulatory ruling on the merits of a poison pill adopted by Aurizon and the break fee committed to rival bidder Hecla Mining Co. (NYSE: HL, Stock Forum). Alamos was down 3% to $14.29, while Aurizon eased 3% to $4.41.
For news about small stocks that made big moves in Wednesday’s trading, please read the
Stockhouse Canadian Small and Micro-cap Stock Report