CANADA STOCKS-TSX may open lower on weak U.S. economic data
Feb 19 (Reuters) - Canadian stock index futures pointed to a lower open on Wednesday, after weak U.S. economic data raised concerns about the outlook for North American growth.
* U.S. homebuilder confidence suffered its largest one-month drop ever in February, heightening concerns that recent signs of weakness in the economy reflect deeper problems than the severe weather that has gripped much of the country.
* Canadian Natural Resources Ltd said it would buy some of Devon Energy Corp's liquids-rich natural gas assets in Canada for $3.13 billion.
* Yamana Gold Inc reported a net loss for the fourth quarter on Tuesday due to a $535.8 million after-tax impairment charge it booked on several exploration and producing properties partly caused by the drop in metal prices.
* Navigation device maker Garmin Ltd reported a better-than-expected quarterly profit, helped by strong demand for its aviation and fitness products.
* U.S. fertilizer producer CF Industries Holdings Inc posted a lower fourth-quarter profit on Tuesday, but the fall from record-high earnings a year earlier was not as steep as analysts had expected.
* Canada stock futures traded down 0.21 percent
* U.S. stock futures , , were down around 0.2 to 0.33 percent
* European shares, were down
COMMODITY PRICE MOVES
* Thomson Reuters-Jefferies CRB Index : 300.619; rose 0.49 percent
* Gold futures : $1,320.7; fell 0.3 percent
* US crude : $103.1; rose 0.65 percent
* Brent crude : $110.44; fell 0.02 percent
* LME 3-month copper : $7,193; fell 0.03 percent
CANADIAN STOCKS TO WATCH
* BlackBerry Ltd : The company's CEO John Chen fired a salvo at T-Mobile US Inc on Tuesday, calling ill-conceived a promotion run by the company that encourages customers using BlackBerry smartphones to upgrade to iPhones.
Following is a summary of research actions on Canadian companies reported by Reuters.
* Keyera Corp : CIBC raises target price to C$69 from C$68 citing production growth in liquids-rich formations in the long term
* Nevsun Resources : CIBC raises target price to C$5 from C$4.50 after the company provided a reserve and resource update for the Bisha and Harena mining licenses
* Precision Drilling : Cowen raises target price to $12 from $11.50 based on better-than expected fourth quarter results and being well positioned to benefit from the secular shift in North America toward high-spec rigs
* Royal Bank of Canada : Barclays raises price target to $70 from $69, says revenue growth anticipated
ON THE CALENDAR
* Major Canadian economic data include wholesale trade data
* Major U.S. events and data includes Producer price index and mortgage index
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