Stockhouse @ the Bell: Stocks fall as China, Crimea referendum weigh, gold rallies, CSLT debuts

Stockhouse Editorial
1 Comment| March 14, 2014

Today in the markets
U.S. stocks were down Friday as Russia’s navy said fighter jets had started training exercises over the Mediterranean Sea.
Canadian stocks were also lower as anxiety about the Ukraine crisis weighed broadly on the market, but also stoked safe haven buying of gold, driving up mining shares.

The S&P/TSX Composite Index fell 17.48 points at 14,227.66, while the TSX Venture Exchange advanced 1.53 points to close at 1,033.64.

Active stocks included Activision Blizzard (NASDAQ: ATVI, Stock Forum), which rose 0.72% to $21 after the company’s price target was raised to $24 from $22 by Barclays analyst Christopher Merwin, who does not expect growth in the mobile game industry to come at the expense of console-based game companies like Activision.

Castlight Health Inc., (NYSE: CSLT, Stock Forum) was up 148.7% to $39.80 on its trading debut. The company is a blend of big money concepts, including cloud computing, software-as-a-service, healthcare information technology.

Raptor Pharmaceutical Corp. (NASDAQ: RPTP, Stock Forum) eased 24% to $11.25 after the company forecast lower than expected 2014 sales of its only drug, which treats a genetic disorder that can cause irreversible tissue damage, organ failure and premature death.

Body Central Corp.  (NASDAQ: BODY, Stock Forum) plunged 22.5% to $2.20 after the women’s apparel retailer on Thursday estimated fourth quarter sales that were lower than what analysts on average had been expecting.

In Canada, gains in the price of oil lifted energy shares. In the group, Canadian Natural Resources (TSX: T.CNQ, Sock Forum) added 0.79% to $39.76.
Among gold miners Goldcorp Inc. (TSX.T.G, Stock Forum) advanced 0.60% to $31.84. Barrick Gold Corp. (TSX: T.ABX, Stock Forum) was up 0.91% to $23.19
In the financials sector, Royal Bank of Canada (TSX: T.RY, Stock Forum) gave back 0.89% to close at $71.17.
Shares of Empire Co. Ltd. (TSX: T.EMP.A, Stock Forum), which operates Sobey’s Canada’s No. 2 grocery chain, dropped 3.4% to $65.78 after the company released financial results earlier in the week that did not meet expectations.
Several analysts have cut their price targets for the shares.

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


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