CANADA STOCKS-TSX may open lower on oil inventory, demand worry

May 14 (BestGrowthStock) – Toronto’s main stock index could open
lower on Friday as oil prices fell to a three-month low,
dragged by swollen U.S. crude inventories and concerns that the
European debt crisis will curb future energy demand growth.

European equities extended early losses pressured by banks,
miners and commodity-linked stocks.

U.S. stock index futures were down as investors awaited a
round of data, including retail sales and consumer sentiment,
which will provide a picture on the strength the economic
recovery. [.N]

Most Asian markets fell with Nikkei shedding more than a
percent after Sony forecast profits that were not as strong as
some had hoped.

Here is some news that could affect stock prices:

OIL AT 3-MONTH LOW

U.S. crude oil fell more than $1 to a three-month low near
$73 a barrel on Friday, dragged down by swollen U.S. crude
inventories and worries that the European debt crisis will curb
demand growth. [O/R]

METALS, COPPER SLIP

Copper slipped on Friday, as euro zone sovereign debt
worries and a firm dollar dragged industrial metals lower,
while concerns of further fiscal tightening in number one
metals consumer China added to the negative sentiment. [MET/L]

GOLD HITS HIGH

Gold hit record highs near $1,250 an ounce in Europe on
Friday as investors bought the metal to protect against
sovereign risk in the euro zone and instability in the foreign
exchange markets. [GOL/]

MEGA BRANDS POSTS PROFIT

Mega Brands Inc (MB.TO: ) returned to a first-quarter profit (Read more your timing to make a profit.)
on Friday as the Canadian toymaker benefited from a gain
related to its recent recapitalization plan. [ID:nN14102025]

FINNING PROFIT SLUMPS

Finning International (FTT.TO: ), the world’s largest
Caterpillar (CAT.N: ) equipment dealer, said on Thursday its
quarterly profit fell 55 percent as market weakness in Canada
and Britain outweighed strength in its South American
operations. [ID:nN13197879]

INTERNATIONAL TOWER HILL MINES ASSETS SPIN-OFF

International Tower Hill Mines Ltd (ITH) (ITH.TO: ) (THM.A: )
said on Friday that it plans to spin off certain of its assets
to create a new exploration-focused company. [ID:nSGE64D0FP]

PETROBANK ENERGY POSTS PROFIT

Oil and natural gas company Petrobank Energy and Resources
Ltd (PBG.TO: ) posted a quarterly profit on Friday that handily
topped market estimates, primarily helped by higher production.
[ID:nSGE64D0GG]

JAZZ AIR’S PROFIT FALLS Jazz Air Income Fund’s (JAZ_u.TO: )
first-quarter profit (Read more your timing to make a profit.) fell 69 percent on Thursday, hurt by lower
billable block hours, less traffic and unfavourable foreign
exchange rates. [ID:nSGE64C0M4]

CHARTWELL FFO UP

Chartwell Seniors Housing Real Estate Investment Trust
(CSH_u.TO: ) on Thursday posted higher quarterly funds from
operations (FFO), helped by a rise in same-property net
operating income. [ID:nSGE64A0LP]

BANKERS PETROLEUM POSTS PROFIT

Oil and gas company Bankers Petroleum Ltd (BNK.TO: ) posted a
first-quarter profit (Read more your timing to make a profit.) on Friday, helped by an increase in
production and oil prices. [ID:nSGE64D0FB]

FIRST MAJESTIC PROFIT TRIPLES

Silver producer First Majestic Silver Corp’s (FR.TO: ) said
on Thursday that its quarterly profit more than tripled on
higher shipments. [ID:nSGE64C0LR]

PROVIDENT ENERGY LOSS WIDENS

Provident Energy Trust (PVE_u.TO: ) reported lower
first-quarter results on Thursday, hurt by softer seasonal
propane demand and lower natural gas volumes. [ID:nSGE64C0MA]

CRYSTALLEX’S CASH WORRIES

Gold miner Crystallex International Corp’s (KRY.TO: ) said on
Thursday that it would not have enough cash to fund its
obligations through 12 months “without further measure,” and
posted a wider first-quarter loss. [ID:nSGE64C0M9]

CVTECH’S PROFIT SOARS

CVTech Group Inc (CVT.TO: ), an electrical services provider,
posted a nearly seven-fold jump in quarterly earnings on
Friday, as energy segment revenue soared, helped by winter
storms that hit the northeast United States. [ID:nSGE64D0GV]

RESEARCH ROUNDUP

Following is a summary of research actions on Canadian
companies reported by Reuters. [RCH/CA]

Note: All values in RESEARCH ROUNDUP in Canadian currency,
unless otherwise stated.

* Advantage Oil and Gas (AAV.TO: ) price target raised to $9
from $8.75; rating outperform at Raymond James

* Cequence Energy (CQE.TO: ) price target cut to $3.25 from
$3.50; rating outperform at Raymond James

* Cominar REIT (CUF_u.TO: ) price target raised to $21 from
$20.25; rating outperform at Raymond James

* Crocotta Energy (CTA.TO: ) price target raised to $2 from
$1.80; rating outperform at Raymond James

* McCoy Corp (MCB.TO: ) price target raised to $3.25 from
$2.50; rating strong buy at Raymond James

* Neo Material Technologies (NEM.TO: ) price target raised to
$6 from $5; rating outperform at Raymond James

* Stantec Inc (STN.TO: ) price target cut to $27 from $29;
rating market perform at Raymond James

* Stoneham Drilling Trust (SDG_u.TO: ) price target raised to
$8 from $6.50; rating outperform at Raymond James

* Trinidad Drilling (TDG.TO: ) price target cut by $0.50 to
$8.50; rating strong buy at Raymond James

* ZCL Composites (ZCL.TO: ) rating cut to market perform from
outperform at Raymond James

Stock Market Today

($1=$1.03 Canadian)
(Reporting by Bangalore newsroom, editing by Savio D’Souza and
Jeffrey Hodgson)

CANADA STOCKS-TSX may open lower on oil inventory, demand worry