• Schlumberger profit rises, fueled by higher oilfield services demand
Schlumberger
NV's third-quarter profit rose 18.2 percent on higher oilfield services
demand and the company said it expects the current
pipeline bottlenecks in the Permian basin to be addressed within the
next 12 to 18 months.
• Rogers Communications profit beats on wireless, cable strength
Rogers
Communications reported a better-than-expected quarterly profit as the
Canadian telecom company benefited from strong growth
in its wireless and cable businesses.
• Corus Entertainment's profit beats estimates on lower costs
Canadian
media company Corus Entertainment's quarterly profit beat estimates,
helped by lower restructuring and broadcasting costs.
• Honeywell profit beats on strong aero, warehouse automation sales
Honeywell
International reported better-than-expected quarterly profit and lifted
its full-year forecasts for cash flow and margins,
driven by strong sales of aircraft parts and warehouse automation
products.
• OPEC, allies struggle to fully deliver pledged oil output boost -internal document
OPEC
is struggling to add barrels to the market after agreeing in June to
increase output, an internal document seen by Reuters showed,
as an increase in Saudi Arabia was offset by declines in Iran,
Venezuela and Angola.
Futures for Canada's main stock index were
higher ahead of inflation data, supported by gains in energy shares as oil prices rose. U.S. stock futures edged
higher, a day after Wall Street’s major indexes fell more than 1
percent, as investors shrugged off concerns over the European
Union’s warning on Italy budget. European equities slipped and the euro fell
after the European Union criticized Italy's spending plans, raising
fresh concern over conflict within the common currency zone. Data
showing China's economy growing
at its slowest pace since 2009 weighed on shares in Asia, although Chinese shares staged a recovery after the securities regulator announced a series of measures to aid the market. Gold prices rose, setting the metal on course for
a third week of gains.
• Corus Entertainment Inc (CJRb).
The Canadian media company’s quarterly profit beat estimates, helped by
lower restructuring
and broadcasting costs. The company's restructuring and broadcasting
costs fell 42 percent to C$7.7 million in the fourth quarter.Revenue
from Corus's television business, its biggest, fell marginally to
C$344.6 million. The business includes brands such as
HistoryGo and Global News. The company's net income rose 16.4 percent
to C$33.7 million, or 16 Canadian cents, in the quarter ended.
• Rogers Communications Inc (RCIb).
The Canadian telecom company reported a 17 percent rise in quarterly
profit, helped by growth
in its wireless and cable businesses. The company's net income rose to
C$594 million, or C$1.15 per share, in the third quarter ended, from
C$508 million, or 98 Canadian cents per share, a year earlier. Revenue
rose to C$3.77 billion from C$3.65 billion.
U.S.
trade policy towards China over the next few years will become more
confrontational, according to a majority of economists in a
Reuters poll who remain convinced U.S. growth has peaked and will slow
substantially next year.
• Canadian Pacific Railway Ltd (CP). RBC raises target price to C$331 from C$329 to reflect the company’s strong growth profile
and expects it to further improve margins.
ECONOMIC EVENTS (All timings in U.S. Eastern
Time)
0830 CPI inflation mm for Sep: Expected 0.0 pct; Prior -0.1 pct
0830 CPI inflation yy for Sep: Expected 2.7 pct; Prior 2.8 pct
0830 CPI BoC core yy for Sep: Prior 1.7 pct
0830 CPI BoC core mm for Sep: Prior 0.1 pct
0830 CPI mm SA for Sep: Prior 0.1 pct
0830 Core CPI mm SA for Sep: Prior 0.2 pct
0830 CPI median for Sep: Prior 2.1 pct
0830 CPI trim for Sep: Prior 2.2 pct
0830 CPI common for Sep: Expected 2.0 pct; Prior 2.0 pct
0830 CPI NSA for Sep: Prior 134.2
0830 CPI yy SA for Sep: Prior 2.68 pct
0830 Retail sales mm for Aug: Expected 0.3 pct; Prior 0.3 pct
0830 Retail sales ex-autos mm for Aug: Expected 0.2 pct; Prior 0.9 pct
COMPANIES REPORTING RESULTS
Corus Entertainment Inc (CJRb). Expected
Q4 earnings of 15 Canadian cents per share
Rogers Communications Inc (RCIb). Expected
Q3 earnings of C$1.17 per share
TFI International Inc (TFI). Expected Q3
earnings of 84 Canadian cents per share
West Fraser Timber Co Ltd (WFT). Expected
Q3 earnings of C$3.06 per share
CORPORATE EVENTS
(All timings in U.S. Eastern Time)
0800 Rogers Communications Inc (RCIb). Q3 earnings conference call
1000 Corus Entertainment Inc (CJRb). Q4 earnings conference call
Inter Pipeline Ltd (IPL). Amount C$0.14
Keyera Corp (KEY). Amount C$0.15
Parkland Fuel Corp (PKI). Amount C$0.10
(All analysts' estimates are according to Thomson Reuters I/B/E/S)