Global markets are up on Friday after the European Central Bank unveiled a plan to buy the bonds of struggling Eurozone nations. Meanwhile, the U.S. Labor Department will issue its non-farm payroll report for August on Friday. Economists expect the unemployment rate to remain unchanged at 8.3 per cent. Here at home, Statistics Canada releases its Labour Force survey for August. Economists expect the Canadian unemployment rate to remain at 7.3 per cent.
Here are the stocks we're watching today:
*The Kroger Co., an American supermarket chain headquartered in Cincinnati, will report its second quarter earnings on Friday. Analysts expect to see earnings per share of 49 cents, which would represent a 19.51 per cent increase compared to the same quarter one year ago.
*Lululemon Athletica Inc., the Vancouver-based yoga-inspired athletic apparel company, reported in its second quarter earnings. Net revenue for the quarter increased 33 per cent to $282.6 million from $212.3 million in the second quarter of fiscal 2011. Earnings per share for the quarter were 39 cents on net income of $57.2 million, compared to 26 cents on net income of $38.4 million in the same quarter one year ago.
*Smith & Wesson Holding Corp., the firearms manufacturer headquartered in Springfield, Mass., saw its fiscal first quarter profit surge more than anticipated. Shares rose by 20 per cent to $10.78 in after-hours trading as the company raised its full-year guidance.
*Audience Inc. saw its shares sink by 54 per cent to $8.75 in after-hours trading. The Mountain View, Calif.-based mobile-audio technology company admitted Apple Inc. is unlikely to use its processor intellectual property in its next-generation iPhone yesterday. Apple's licensing of Audience's technology accounted for 37 per cent of the latter company's total revenue in the first half of 2012.