Canadian Stocks Turning In Mixed Performance As Investors React To Earnings

(RTTNews) - Canadian stocks are turning in a mixed performance on Friday with investors reacting to corporate earnings updates, and also weighing the potential impact of the resignation of Nvidia co-founder and CEO Jensen Huang on the tech sector.

Huang resigned Thursday after his extramarital affair with a Chinese businesswoman who reportedly was also acting as a spy for Beijing raised U.S. national security concerns.

Huang, who served at the top post for 33 years, has been summoned to testify before a Congressional panel regarding his alleged affair with a businesswoman suspected of being a Chinese spy.

The benchmark S&P/TSX Composite Index was up 17.60 points or 0.05% at 36,154.79 a few minutes ago.

Stantec is soaring nearly 14% after reporting earnings per share of $1.89 for the third quarter, compared with $1.53 in the year-ago quarter.

Martinrea International is surging 12.5% despite reporting a 25% drop in third quarter earnings, compared to a year ago.

Kelt Exploration is climbing more than 11%. Northland Power is gaining 6.6% after reporting earnings per share of $0.71 for the third quarter of this year, as against a loss of $1.58 per share in the year-ago quarter.

Canadian Energy Services is rising 6.5%, after reporting EPS of $0.35 for the third quarter of this year, compared with $0.18 in the year-ago quarter.

Exchange Income is up 4.5%. The company reported earnings per share of $1.81 in the third quarter, compared with $1.46 a year ago.

Onex Corporation gained 1.7%. The company reported earnings per share of $1.28 in the third quarter, compared with$0.57 in the corresponding quarter last year.

H&R Real Estate Investment, Superior Plus, Real Matters, Seabridge Gold, Choice Properties, WSP Global, CCL Industries and IGM Financial are also up with notable gains.

Mattr Corp is tanking 20%. Celestica is down 6%. Silvercorp Metals, Dundee Precious Metals, Ballard Power Systems, Ero Copper, Ivanhoe Mines, EQB, BlackBerry, Nova Gold Resources, Lundin Mining and Bombardier are down 2%-4%.

Data from Statistics Canada showed Canada's manufacturing capacity utilization rate eased to to 81.5% in September from 81.6% in the previous month.

Canada's manufacturing sales were essentially unchanged at C$80.2 billion in September, missing estimates of a 0.1% increase and stalling after an upwardly revised 1.8% rise in August.

Canada's wholesale sales rose 0.7% month over month to C$92.5 billion in September, beating estimates of a 0.5% increase and rebounding from a revised 1.4% drop in August.