TSX Today: What to Watch for in Stocks on Friday, January 14 – The Motley Fool Canada

TSX Today: What to Watch for in Stocks on Friday, January 14  The Motley Fool Canada

Stocks turned negative again on Thursday after rising in the previous couple of sessions. The S&P/TSX Composite Index lost 102 points, or 0.5%, to close at 21,293. Concerns about rising inflation and worse-than-expected jobless claims in the U.S. worried investors, leading to a sharp selloff in some popular tech stocks. In addition, commodity prices retraced from their previous day’s highs, trimming recent gains in the energy and mining stocks.

TSX earnings updates

Aritzia (TSX:ATZ) was the top-performing stock on the TSX in the last session, as it surged by 19% to $58.87 per share, as I pointed in my yesterday’s article. The company’s strengthening sales in the United States helped it post far better-than-expected Q3 results, triggering a buying spree in its stock. Notably, its adjusted earnings in the November quarter more than doubled to $0.61 per share, as its total revenue increased by 63% year over year. After yesterday’s sharp gains, Aritzia stock is now trading with 13% year-to-date gains.

The shares of Corus Entertainment (TSX:CJR.B) also popped by 6% to settle at $5.27 per share on January 13 after the company beat Street analysts’ Q3 earnings estimates. In the quarter ended in November 2021, its revenue rose by 10.4% from a year ago to $464 million. As a result, its adjusted earnings for the quarter stood at $0.37 per share — higher than analysts’ estimate of $0.35 per share. Corus Entertainment stock is up 11% on a year-to-date basis.

Other top TSX movers and active stocks

Primaris REIT and Linamar were also among the top-performing Canadian stocks Thursday, as they rose by at least 4% each.

On the flip side, Energy Fuels, Shopify, Hut 8 Mining, and Advantage Oil & Gas dived by at least 7% each, making them the worst-performing TSX Composite components for the day.

By their daily trade volume, TD Bank, Suncor Energy, Royal Bank of Canada, and Canadian Natural Resources were the most active Canadian stocks.

TSX today

The main Canadian market index is likely to open slightly higher on Friday, as an overnight rally in commodity prices could push TSX energy and mining stocks higher. While the recently released weak job numbers from the U.S. market could keep tech stock under pressure, investors could watch the latest retail sales data this morning.

Source: fool.ca

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