Stock futures pointed to a lower opening for Canada's main stock index as investors take a cautious approach to the election of the first Liberal government in nine years and its untested prime minister, Justin Trudeau.
The S&P/TSX composite index fell 79.72 points to close at 13,758.38
The Canadian dollar gained 0.12 cents to 76.92 cents U.S. early Tuesday
Thomson Reuters Corp has agreed to sell BoardLink, a digital meeting portal for directors of corporate boards, to Diligent Corp for $10 million, Diligent Chief Financial Officer Michael Stanton said on Monday. The deal will expand Diligent's portfolio of secure corporate governance and collaboration solutions for boards and senior executives.
BMO cut the target price on Valeant Pharmaceuticals International in its U.S.-listed stocks to $265.00 from $273.00, says although the company’s beat expectations in the third-quarter, the results showed that the legacy business had underperformed.
Canadian Pacific Railway is out with Q3 earnings, projecting $2.67 per share.
Celestica projects Q3 earnings of 31 cents per share
On the economic front, Statistics Canada reported wholesale trade edged down 0.1% to $55.3 billion in August. Declines in four sub-sectors, in particular the machinery, equipment and supplies sub-sector, accounted for the decrease. Higher sales in the miscellaneous sub-sector partially offset these declines
ON BAYSTREET
The TSX Venture Exchange dropped 4.36 points Monday to 551.93
ON WALLSTREET
U.S. stock futures are declining Tuesday morning.
Ahead of the opening bell, futures for the Dow Jones sank 17 points, or 0.1%, to 17,100, futures for the S&P 500 fell 3.25 points, or 0.2%, to 2,024.25, and futures for the NASDAQ sank five points, or 0.1%, to 4,449.5
Shares in Harley-Davidson are tanking -- down 9% -- after the company reported lower-than-expected earnings on Tuesday morning.
Shares in IBM are declining by about 5% pre-market after the company posted disappointing quarterly results on Monday afternoon. Revenue came in below expectations, in part due to the slowdown in Asia.
A range of companies including Verizon and Travelers are also reporting earnings this morning.
After the markets close, another batch of companies are reporting, including Chipotle and Yahoo.
Shares in Yum Brands are set to rise about 6% after the fast-food giant announced it will spin off its China operations. The move follows a series of food scandals that have hurt the company's sales in China.
Yum owns Pizza Hut, Taco Bell and KFC.
Takeover talk has sent Sandisk's share price climbing 8% pre-market. Western Digital is reportedly in serious talks to acquire the chipmaker and a deal could be announced this week. Micron had been considered another suitor for the firm.
Shares in United Continental Holdings could be on the move Tuesday after the firm announced its general counsel Brett Hart would lead the company on an interim basis after the CEO suffered a heart attack last week and was put on medical leave.
Asian markets ended with mixed results, and most European markets are dipping into the red in early trading.
Oil prices sneaked up 11 cents to $46.00 U.S. a barrel
Gold prices added $3.26 cents to $1,174.05 U.S. an ounce.
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