CANADA STOCKS-TSX set to open higher on stronger earnings, data

Thu Apr 25, 2013 8:46am EDT
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April 25 (Reuters) - Canada's main stock index looked set to open higher on Wednesday, helped by encouraging U.S. economic data and stronger-than-expected earnings from some companies including Potash Corp Saskatchewan Inc.


* Potash Corp reported a 13 percent rise in first-quarter profit on strong shipments. Its net profit rose to $556 million, or 63 cents per share, from $491 million, or 56 cents per share, a year earlier. The stock rose in pre-market trading.

* The number of Americans filing new claims for unemployment benefits fell last week, offering reassurance that the bottom is not falling out of the labor market despite signs of slower growth.

* Precision Drilling Corp reported a 16 percent decline in first-quarter earnings, as depressed natural gas prices prompted customers to cut back on drilling in North America.

* Verizon Communications hired advisers to prepare a possible $100 billion cash and stock bid to take full control of Verizon Wireless from joint venture partner Vodafone Group Plc, two people familiar with the matter said on Wednesday.

* Biogen Idec reported stronger-than-expected quarterly earnings, helped by unusually low taxes and sales growth of its treatments for multiple sclerosis.

* The Dow Chemical Co reported a 33 percent jump in quarterly profit, helped by higher sales of its seeds and crop-protection chemicals and lower raw material costs.   Continued...