Today in the markets
U.S. stocks were lower Thursday amid a flurry of weaker-than-expected economic figures, including jobless claims that hit a six-week high.
Canadian stocks ended mostly higher, clawing back some of the losses they took after the TSX ended Wednesday down 100 points.
The S&P/TSX Composite was up 33.95 points to 12,507.60, while the TSX Venture Exchange eased down 4.01 points to close at 932.86.
Active stocks included Cisco Systems Inc. (NASDAQ: CSCO, Stock Forum), which rallied 12.6% to $23.9 after the network manufacturer reported better than estimated quarterly profit late Wednesday.
Alcoa Inc. (NYSE: AA, Stock Forum), which was unchanged at $8.50 after the company said it will permanently close two potlines at its smelter in Baie-Comeau, Que., this summer as it looks to cut its global output amid weak metal prices.
Wal-Mart Stores Inc. (NYSE: WMT, Stock Forum) was off 1.7% to $78.50 after announcing that its first quarter profit rose 1.1% as it struggled with a sales slump in its namesake business. The U.S. retailing giant blamed a payroll tax increase, delayed tax refunds and bad weather for the profit and sales results that missed Wall Street expectations.
In Canada, Bombardier Inc. (TSX: T.BBD.B, Stock Forum) was up 2.4% to $4.66 after the transportation equipment manufacturer said it has signed a five-year deal with Japan Air Commuter to renew its Smart Parts program.
Surge Energy Inc. (TSX: T.SGY, Stock Forum) jumped 8.2% to $4.50 after the company announced the results of its board of directors’ election progress after the close of trading on Wednesday.
Telus Corp. (TSX: T.T, Stock Forum) announced that it was prepared to buy small wireless carrier Mobilicity as part of a $380-million deal. The deal, which is subject to conditions including approval by the Competition Bureau, Industry Canada, and Mobilicity's debtholders, resulted in Telus shares climbing more than 1% to $37.34.
For news about small stocks that made big moves in Thursday’s trading, please read the
Stockhouse Canadian Small and Micro-cap Stock Report