CANADA STOCKS-TSX may open lower following Carl Icahn comments

Reuters

Nov 19 (Reuters) - Canada's main stock index looked set toopen lower on Tuesday after billionaire investor Carl Icahn'scomments on the recent rally in stock markets spurred investorcaution.

TOP STORIES

* Activist investor Carl Icahn said on Monday he is "verycautious" on the stock market, saying he could see a "big drop"because earnings at many companies are fueled more by lowborrowing costs rather than the strength of management.

* The European Central Bank must consider buying governmentand corporate bonds to help the euro zone avoid a Japanese-styledeflationary spiral, the OECD said.

* A recovery in the U.S. housing market helped Home Depot totop profit and sales estimates for the third quarter, promptingthe No. 1 home improvement chain to raise its fiscal-yearoutlook for the third time this year.

* Sears Canada reported a wider quarterly loss asit took one-time charges of C$42.8 million related torestructuring and asset impairment.

* Best Buy Co Inc reported a profit in the third quarter,reversing a year-ago loss, boosted by tight cost controls.

* Exxon Mobil Corp has agreed to sell its 60 percent stakein a Hong Kong utility and a power storage firm for a combined$3.4 billion, helping the U.S. oil major raise funds to ploughback into its core operations.

MARKET SNAPSHOT

* Canada stock futures traded down 0.04 percent

* U.S. stock futures , , were downaround 0.2 percent to 0.08 percent

* European shares, were down

COMMODITY PRICE MOVES

* Thomson Reuters-Jefferies CRB Index : 273.6213;rose 0.05 percent

* Gold futures : $1,271; fell 0.09 percent

* US crude : $92.82; fell 0.23 percent

* Brent crude : $108.25; fell 0.2 percent

* LME 3-month copper : $6,974.5; fell 0.01 percent

CANADIAN STOCKS TO WATCH

* Bombardier Inc : The company has signed a letterof intent to sell five CSeries jetliners to Iraqi Airways, theplane and train maker said.

ANALYSTS' RECOMMENDATIONS

Following is a summary of research actions on Canadiancompanies reported by Reuters.

* Genworth MI Canada Inc : Canaccord Genuity raisesprice target to C$34.50 from C$33 on valuation based on improvedloss ratios.

* Midway Gold Corp : Canaccord Genuity raises tospeculative buy from hold after the company announced thatBarrick Gold Corp has completed its earn-inrequirements for a 70 percent interest of the Spring Valley JV.

* North American Palladium Ltd : CIBC cuts to sectorunderperformer from sector performer on valuation after thecompany's third-quarter results were overshadowed by the likelyneed for yet more capital following a slower-than-expectedramp-up.

* Spyglass Resources Corp : CIBC raises price targetto C$1.75 from C$1.60, says though the company's third-quarterresults were weak, it looks on track to meet its year-end exitguidance.

ON THE CALENDAR

* No major Canadian economic data scheduled for the day

* Major U.S. events and data includes Redbook and employmentcosts

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