Canadian Shares Turning In Mixed Performance

(RTTNews) - Canadian stocks are turning in a mixed performance in cautious trade on Friday with investors digesting earnings updates from major U.S. banks, and assessing the latest batch of economic data from the U.S., including the report on consumer price inflation.

Industrials shares are among the prominent gainers. Healthcare stocks are weak, while shares from rest of the sectors are mixed.

The benchmark S&P/TSX Composite Index is up 76.92 points or 0.38% at 20,288.12 a few minutes before noon.

Bombardier Inc (BBD.B.TO) is rising 2.3%. Imperial Oil (IMO.TO), Canadian Pacific Railway (CP.TO), Dollarama (DOL.TO), FirstService Corporation (FSV.TO), Descartes Systems Group (DSG.TO), Waste Connections (WCN.TO) and Canadian Tire Corporation (CTC.A.TO) are up 1 to 2%.

Shaw Communications Inc. (SJR.B.TO) reported first-quarter 2023 net income of $168 million, compared with net income of $196 million in the year-ago quarter. The stock is down marginally.

Cogeco Communications Inc (CCA.TO) is down nearly 9% despite reporting higher earnings. The company reported earnings per share of $2.44 for the first quarter of fiscal 2023, up 7.5% from the year-ago quarter.

Cogeco Inc (CGO.TO) shares are down 7.1% after the company announced that its earnings per share on a diluted bases was $2.67 in the first quarter of fiscal 2023. That was up 10.8% from the earnings per share it recorded a year earlier.

Corus Entertainment Inc. (CJR.B.TO) shares are plunging nearly 16% on weak results. The company reported net income of $31,387 for the quarter ended November 30, 2022, down 59% from net income of $76,165 it posted in the year-ago quarter.

Cargojet (CJT.TO) is down nearly 4%. Teck Resources (TECK.B.TO), Tourmaline Oil Corp (TOU.TO), Nutrien (NTR.TO) and West Fraser Timber (WFG.TO) are also notably lower.