Nov 19 Canada's main stock index looked set to
open lower on Tuesday after billionaire investor Carl Icahn's
comments on the recent rally in stock markets spurred investor
* Activist investor Carl Icahn said on Monday he is "very
cautious" on the stock market, saying he could see a "big drop"
because earnings at many companies are fueled more by low
borrowing costs rather than the strength of management.
* The European Central Bank must consider buying government
and corporate bonds to help the euro zone avoid a Japanese-style
deflationary spiral, the OECD said.
* A recovery in the U.S. housing market helped Home Depot to
top profit and sales estimates for the third quarter, prompting
the No. 1 home improvement chain to raise its fiscal-year
outlook for the third time this year.
* Sears Canada reported a wider quarterly loss as
it took one-time charges of C$42.8 million related to
restructuring and asset impairment.
* Best Buy Co Inc reported a profit in the third quarter,
reversing a year-ago loss, boosted by tight cost controls.
* Exxon Mobil Corp has agreed to sell its 60 percent stake
in a Hong Kong utility and a power storage firm for a combined
$3.4 billion, helping the U.S. oil major raise funds to plough
back into its core operations.
* Canada stock futures traded down 0.04 percent
* U.S. stock futures , , were down
around 0.2 percent to 0.08 percent
* European shares, were down
COMMODITY PRICE MOVES
* Thomson Reuters-Jefferies CRB Index : 273.6213;
rose 0.05 percent
* Gold futures : $1,271; fell 0.09 percent
* US crude : $92.82; fell 0.23 percent
* Brent crude : $108.25; fell 0.2 percent
* LME 3-month copper : $6,974.5; fell 0.01 percent
CANADIAN STOCKS TO WATCH
* Bombardier Inc : The company has signed a letter
of intent to sell five CSeries jetliners to Iraqi Airways, the
plane and train maker said.
Following is a summary of research actions on Canadian
companies reported by Reuters.
* Genworth MI Canada Inc : Canaccord Genuity raises
price target to C$34.50 from C$33 on valuation based on improved
* Midway Gold Corp : Canaccord Genuity raises to
speculative buy from hold after the company announced that
Barrick Gold Corp has completed its earn-in
requirements for a 70 percent interest of the Spring Valley JV.
* North American Palladium Ltd : CIBC cuts to sector
underperformer from sector performer on valuation after the
company's third-quarter results were overshadowed by the likely
need for yet more capital following a slower-than-expected
* Spyglass Resources Corp : CIBC raises price target
to C$1.75 from C$1.60, says though the company's third-quarter
results were weak, it looks on track to meet its year-end exit
ON THE CALENDAR
* No major Canadian economic data scheduled for the day
* Major U.S. events and data includes Redbook and employment