Canadian Stocks Turning In Mixed Performance

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(RTTNews) - The Canadian market is down in negative territory Friday afternoon, weighed down by losses in technology and financials sectors.

Shares from utilities and industrials are finding some support. Shares from the rest of the sectors are turning in a mixed performance.

The benchmark S&P/TSX Composite Index, which climbed to 20,492.07 earlier in the session, is down 44.16 points or 0.22% at 20,373.45.

Technology stock Converge Technology Solutions (CTS.TO) is down more than 8%. Coveo Solutions (CVO.TO), Constellation Software (CSU.TO), Shopify Inc (SHOP.TO) and BlackBerry (BB.TO) are down 2 to 3%.

Softchoice Corp (SFTC.TO) is down by about 2.8%. The company reported adjusted net income of $7.1 million in the first quarter of 2023, compared with $4.6 million in the first quarter of 2022.

In the financials sector, CI Financial Corp (CIX.TO) is plunging nearly 19%. Manulife Financial (MFC.TO) is declining 2%. Onex Corp (ONEX.TO) is down 3% after reporting net loss of $232 million for the quarter ended March 2023, compared with net income of $164 million in the year-ago quarter.

Crescent Point Energy Corp. (CPG.TO) is down marginally. The company reported Friday that net income for the first quarter plunged to C$216.7 million or C$0.39 per share from C$1.18 billion or C$2.03 per share in the prior-year quarter.

Shawcor (SCL.TO) is up 10%. The company reported net income of $25.23 million for the first quarter of 2023, compared with net loss of $6.9 million in the year-ago quarter.

Park Lawn Corporation (PLC.TO) is up 9.5%, after reporting net earnings of $4.58 million for the first quarter of 2023, compared to $8.7 million.

Emera Inc. (EMA.TO) is gaining 1.3%. The company reported first quarter net income of $560 million, up $198 million, compared with net income of $362 million in the first quarter of 2022.

Stelco Holdings (STLC.TO), Brookfield Infrastructure Corporation (BIPC.TO), Canadian Pacific Kansas City (CP.TO), Teck Resources (TECK.A.TO), Franco-Nevada Corporation (FNV.TO), Toromont Industries (TIH.TO) and TFI International (TFII.TO) are up 1 to 3%.

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