Stockhouse @ the Bell: Stocks mixed ahead of looming Fed meeting, (ADBE) (TWTR) (T.MG) active

Stockhouse Editorial
0 Comments| December 13, 2013


Today in the markets

U.S. stocks posted a mild rebound Friday, but ended the week lower as investors looked toward a Federal Reserve meeting next week.

Canadian stocks closed little changed with buyers not inclined to do much on hopes that a meeting of the Federal Reserve will provide clarity on whether the central bank is set to start reducing its monetary stimulus.

The S&P/TSX Composite rose 11.31 points to 13,125.70, while the TSX Venture Exchange closed up 8.38 points to close at 894.47.

Active stocks included Adobe Systems Inc. (NYSE: ADBE, Stock Forum), which gained 12.8% to $60.89 after the company reported its quarterly results after the market close on Thursday.

Twitter Inc. (NYSE: TWTRStock Forum) shares jumped 6.6% to $59 after it reversed earlier changes to the way the ‘block’ function works, following an outcry from users.

Andarko Petroleum Corp. (NYSE: APC, Stock Forum) sank 6.4% to $78.30 after a U.S. bankruptcy judge ruled it could be liable for an at-least $5 billion in a lawsuit linked to its 2006 Kerr-McGee purchase.

In Canada, the consumer discretionary sector was the biggest advancer, with retailer Reitmans (Canada) Ltd. (TSX: T.RET.A, Stock Forum) ahead 4.7% to $6.24 while auto parts giant Magna International Inc. (TSX:T. MG, Stock Forum) gained 1.4% to $83.74.

Telecoms were weak after the CRTC announced it will look at wholesale rates charged to small wireless firms by the big players including Rogers Communications Inc. (TSX: T.RCI.B, Stock Forum), BCE Inc. (TSX: T.BCE, Stock Forum) and Telus Corp. (TSX: T.T, Stock Forum).

The federal telecom regulator wants to know if big players are putting these small players at an unfair disadvantage with the wholesale roaming rates they charge. Rogers shed 1.3% to $47.02.

For news about small stocks that made big moves in Friday’s trading, please read the
Stockhouse Canadian Small and Micro-cap Stock Report

Tags: OIL & GAS E&P TELECOM SERVICES ENERGY AUTO PARTS

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