CA-BUSINESS Summary

TSX ends higher as U.S. data, Potash earnings help

TORONTO (Reuters) - Canada's main stock index advanced for the sixth straight session on Thursday, helped by the materials sector, as U.S. economic data and a stronger-than-expected earnings performance from Potash Corp boosted sentiment. The Toronto Stock Exchange's S&P/TSX composite index <.gsptse> unofficially closed up 59.08 points, or 0.48 percent, at 12,329.51. Nine of the 10 main sectors of the index were higher.

Shoppers Drug Mart revenue up on over-the-counter sales

(Reuters) - Shoppers Drug Mart Corp , Canada's biggest pharmacy chain, reported a 4 percent rise in first-quarter revenue as higher over-the-counter sales helped to offset tighter price controls for generics. The price controls, which were recently tightened, have crimped growth at Shoppers and rivals such as Jean Coutu Group Inc in recent years.

Amazon first-quarter revenue matches expectations

SAN FRANCISCO (Reuters) - Amazon.com Inc's first-quarter revenue jumped 22 percent to $16.07 billion, propelled by growing sales of digital content, cloud-computing services and gains in its main retail business. The world's largest Internet retailer had been expected to record revenue of $16.1 billion in the typically slower first quarter, according to average forecasts on Wall Street.

Starbucks second-quarter profit rises

(Reuters) - Starbucks Corp reported higher quarterly profit on Thursday, helped by strength in the United States, its top market, despite an industry-wide spending downturn in February due to a U.S. payroll tax increase that lowered take-home pay. The world's biggest coffee chain reported net earnings of $390.4 million, or 51 cents per share, for the fiscal second quarter that ended on March 31. That compares with $309.9 million, or 40 cents per share, a year earlier.

Global stocks rise after surprise U.S. data, bonds fall

NEW YORK (Reuters) - World stock markets rose and bond prices fell on Thursday as data indicated the U.S. labor market remains resilient despite recent signs of slower growth, while earnings that are beating lowered expectations helped buoy investor sentiment. Wall Street opened higher, following gains in Europe, where markets were lifted on growing expectations that the European Central Bank will soon cut interest rates.

Dow Chemical sees farm products driving profit this year

(Reuters) - Dow Chemical Co posted a better-than-expected 33 percent jump in quarterly profit as farmers in the Americas bought more of its seeds and pesticides, overshadowing a decline in European demand for its plastics. Dow, the largest U.S. chemical maker by sales, forecast that demand for its seeds and crop-protection products would drive further growth after a quarter in which its agricultural science business posted the highest sales growth of its various units.

Boeing gets 50 new orders for 737 jets

(Reuters) - Boeing Co said it received 50 new orders for its 737 jets from unidentified customers. The new orders bring Boeing's 2013 net orders through Tuesday to 259 aircraft, according to the company's website. (http://r.reuters.com/deq83t)

Exclusive: Verizon eyes roughly $100 billion bid for Vodafone's wireless stake

NEW YORK/LONDON (Reuters) - Verizon Communications Inc has hired advisers to prepare a possible $100 billion bid to take full control of Verizon Wireless from its partner Vodafone Group Plc , two people familiar with the matter said. Verizon is contemplating a roughly 50:50 cash and stock bid for the 45 percent stake in Verizon Wireless it does not already own, an asset it has long coveted, the sources said. It has not put a proposal to Vodafone yet but has hired banking and legal advisers for a possible offer, the sources said late Wednesday.

Oil production rises for Exxon, Conoco in first-quarter

HOUSTON (Reuters) - Quarterly results from Exxon Mobil Corp and ConocoPhillips on Thursday showed that while overall growth remained elusive, output rose in key basins in the United States where the oil and gas companies are spending heavily to grow crude production. North American shale basins and the Gulf of Mexico are seen as more secure places for energy companies to invest because they typically offer a steady source of growth. Conoco said in December that more than half of its nearly $16 billion budget for 2013 will be spent in North America.

Tesla CEO tweets strategic announcement coming Friday

DETROIT (Reuters) - Tesla Motors Inc Chief Executive Elon Musk said the electric carmaker on Friday will make a strategic announcement that according to a spokeswoman revolves around service. Shares of Tesla rose nearly 3 percent late Thursday afternoon.

Source: http://news.yahoo.com/ca-business-summary-110120717.html

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