CANADA STOCKS-TSX may open higher after U.S. job data
Oct 22 (Reuters) - Canadian stock index futures pointed to a higher open on Tuesday following the delayed release of the U.S. September payroll report, which showed 148,000 jobs added in the month.
* U.S. employers added far fewer than expected workers in September, suggesting a loss of momentum in the economy that supported the Federal Reserve's decision to maintain its monthly bond purchases.
* United Technologies Corp, the world's largest maker of elevators and air conditioners, raised the low end of its 2013 profit forecast, citing cost savings from restructuring and improving sales trends.
* Chemical maker DuPont's third-quarter revenue rose 5 percent in part due to higher sales of solar panel parts and performance materials.
* Travelers Cos Inc reported a third-quarter profit that beat analysts' estimates, and the U.S. insurer announced a $5 billion buyback program.
* EMC Corp, the world's largest data storage equipment maker, reported lower-than-expected quarterly results and cut its full-year revenue forecast, hurt by a fall in U.S. federal spending.
* Coach Inc, known for its Poppy handbags, posted a smaller-than-expected quarterly revenue as sales slipped in North America, its largest market.
* Canada stock futures traded higher
* U.S. stock futures , , were higher
* European shares, were up
COMMODITY PRICE MOVES
* Thomson Reuters-Jefferies CRB Index rose 0.16 percent
* Gold futures rose
* Brent crude prices rose
* LME 3-month copper : $7,274.5; rose 0.42 percent
CANADIAN STOCKS TO WATCH
* Toronto-Dominion Bank : CEO Ed Clark is not ruling out the possibility that TD could make a large U.S. acquisition, but he said the bank does not need to make a deal and isn't seeking one.
Following is a summary of research actions on Canadian companies reported by Reuters.
* ARC Resources Ltd : Barclays raises to overweight from equal weight and price target to C$31 from C$29 in anticipation of its exceptional growth profile over the next 18-24 months.
* Baytex Energy Corp : Barclays cuts to equal weight from overweight and price target to C$46 from C$48 to reflect its robust valuation and wider differential assumptions.
* Ivanhoe Mines Ltd : CIBC raises to sector outperformer from sector performer and target price to C$4.50 from C$4, views the company with no stock overhang, a lower capital requirement and the smaller, phased capital approach that allows for more self-funding.
* Paramount Resources Ltd : Barclays raises price target to C$43 from C$39, believes the company is in the early stages of a transformation that will position it to emerge as a compelling growth story over the next 12 months.
* Transcontinental : CIBC cuts to sector performer from sector outperformer and raises price target to C$16.50 from C$15.50 on valuation, says shares are fully priced though execution continues.
ON THE CALENDAR
* Major Canadian economic data includes retail sales
* Major U.S. events and data includes non-farm payrolls, unemployment rate and manufacturing payrolls