10:10 AM EST - Canaccord Capital : reported a steep drop in its first-quarter profit on Friday, hurt by weak capital markets and a tough comparison to record year-earlier results. The Canadian investment bank said it earned $16.5 million, or 31 cents a share, down from C$39 million, or 80 cents a share, for the same period last year. Analysts had expected earnings of 25 cents a share. Canaccord Capital
shares T.CCI are trading down 14 cents at $7.79.
