CANADA STOCKS-TSX may open lower, U.S. data in focus

Jan 17 (Reuters) - Canada’s main stock index futures pointed to a flat to slightly lower open on Friday with investors waiting to take cues from a slew of U.S. economic data including housing starts, building permits and industrial production.


* General Electric Co posted a rise in quarterly net profit, helped by strength in its businesses selling oil pumps and jet engines.

* Morgan Stanley reported a sharp fall in quarterly profit as the Wall Street bank was hit by $1.2 billion in legal bills but adjusted earnings beat market estimates.

* Royal Dutch Shell issued a “significant” profit warning, detailing across-the-board problems and the extent of the challenges facing the oil major’s new boss Ben van Beurden, who took over two weeks ago.

* Schlumberger Ltd, the world’s largest oilfield services company, reported a better-than-expected 22 percent jump in fourth-quarter profit as robust international drilling activity made up for weakness in North America.

* Intel Corp’s earnings missed expectations by a penny in the fourth quarter due to weak spending on servers, and the chipmaker gave a lukewarm forecast for first-quarter revenue that did little to dispel concerns about a slowing PC industry.

* BNY Mellon Corp said that its fourth-quarter profit rose slightly as investment services fees increased 5 percent amid a buoyant stock market.


* Canada stock futures traded down 0.03 percent

* U.S. stock futures , , were up around 0.11 percent to 0.34 percent

* European shares, were down


* Thomson Reuters-Jefferies CRB Index : 278.9367; fell 0.03 percent

* Gold futures : $1,239.7; fell 0.02 percent

* US crude : $94.64; rose 0.73 percent

* Brent crude : $106.31; rose 0.53 percent

* LME 3-month copper : $7,357; rose 0.64 percent


* Bombardier Inc : The company said a group led by its rail technology unit has signed a $4.1 billion contract with the Australian state of Queensland.

* Dollarama Inc : The dollar-store operator said December sales were hurt by severe winter weather and power outages.

* Saputo Inc : The company said on Friday its shareholding in Australia’s Warrnambool Cheese and Butter Factory Holdings Co has jumped to 46.17 percent, putting it close to majority control.


Following is a summary of research actions on Canadian companies reported by Reuters.

* Alamos Gold Inc : CIBC cuts target price to C$15 from C$17 citing the company’s reduced fourth-quarter production figures

* Oryx Petroleum Corporation Ltd : RBC raises to outperform from sector perform with target price to C$18 from C$17, given the company’s regional exposure in Kurdistan, exploration-led strategy and financing requirements

* Saputo Inc : CIBC raises target price to C$53 from C$50, says acquisition of Warrnambool Cheese and Butter Factory Holdings Co has strong strategic merits, and would give the company a platform to grow its exports to Asia

* Sierra Wireless Inc : Jefferies raises target to $20 from $16.75, believes management will be more focused on cost controls, likes the improved operating model and stability of M2M


* No major Canadian economic data scheduled for release

* Major U.S. events and data includes housing starts, building permits, industrial production and University of Michigan sentiment index