CANADA STOCKS-TSX may open higher after U.S. job data

Tue Oct 22, 2013 8:44am EDT

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.

TOP STORIES

* 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.

MARKET SNAPSHOT

* 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.

ANALYSTS' RECOMMENDATIONS

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

FILED UNDER: