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Dominion Lending Centres Clearlease Reports Toronto stock market opens higher on strong first-quarter economic data

VANCOUVER, BC (May 30, 2011) Dominion Lending Centres Clearlease Reports The Toronto stock market opened higher Monday May 30, 2011 after data showed economic growth in the first quarter was strong and largely in line with expectations.

The S&P/TSX composite index was up 32.5 points to 13,830. The TSX Venture Exchange gained 5.3 points to 2,105.97.

Statistics Canada reported real gross domestic product grew at an annualized rate of 3.9 per cent in the first quarter, after expanding 3.1 in the fourth quarter of 2010.

Economists had expected the economy to grow by four per cent during the first quarter. It grew by 0.3 per cent in March, a tick above consensus, setting a strong course for second-quarter growth.

“Glancing at the details, consumer’s nearly stalled, after a solid quarter earlier performance,” CIBC World Markets wrote in a note.

“Offsetting that, business capital spending showed solid momentum, advancing by about 10 per cent in annualized terms with housing posing a modest increase after a decline in the preceding quarter.”

The Canadian dollar lost 0.15 of a cent to 102.31 cents US.

The loonie could be under additional pressure on commodity markets this week after the Bank of Canada delivers its next announcement on interest rates on Tuesday.

The market’s direction will be little influenced by events in the U.S., as markets are shut for the Memorial Day holiday.

Oil prices fell 34 cents to US$100.25 a barrel in electronic trading on the New York Mercantile Exchange. On Monday, security forces killed anti-government protesters in Syria and Yemen, the latest instances of political violence that has swept the oil-rich region this year.

The June gold contract rose $1.50 to US$1,537.80 an ounce. On the TSX, Barrick Gold Corp. (TSX:ABX) shares gained two cents to C$46.38.

The July copper contract fell two cents to $4.17 a pound. The mining sector was the biggest gainer on the TSX, up 0.8 per cent with shares in Hudbay Minerals Inc. (TSX:HBM) up 1.8 per cent or 17 cents to $14.84.

Uranium stocks could be under pressure after Germany’s environment minister said Chancellor Angela Merkel’s coalition government has agreed to shut down all of the country’s nuclear power plants by 2022.

The utilities index was the biggest loser on the TSX, down 0.7 per cent, with shares in Uranium One Inc. (TSX:UUU) down 1.8 per cent or seven cents to $3.73.

In corporate news, Fortis Inc. (TSX:FTS) is acquiring a Vermont-based integrated electric utility company for US$700 million, giving the Newfoundland-based company its first entry into the U.S. regulated power industry.

The St. John’s, N.L.-based company says it will pay US$35.10 per share in cash for Central Vermont Public Service Corp. (NYSE:CV), in a transaction that includes the assumption of about US$230 million in debt. Fortis shares fell 2.1 per cent or 71 cents to $32.95.

Asian markets were largely inert and European shares posted muted gains in early trading. Germany’s DAX was 0.3 per cent higher and France’s CAC-40 was down 0.01 per cent. Markets in Britain are closed for a holiday.

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About Dominion Lending Centres Clearlease

Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.

Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.

You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.

Contact DLC Clearlease.com:

Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
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Dominion Lending Centres Clearlease Reports Blockbuster Canada (OTC:BLOAQ) clearance sale begins Friday; 146 stores set to close

VANCOUVER, BC (May 27, 2011) Dominion Lending Centres Clearlease Reports Clearance sales are underway at many of the Canadian Blockbuster Video (OTC:BLOAQ) stores that are closing their doors.

The movie and video game rental chain will be shutting down 146 Canadian locations next month.

A manager at one Toronto store says more than a dozen customers were hunting for bargains shortly after the store opened, but none of them had lined up to get there early.

About 1,400 Blockbuster staff could lose their jobs in Canada, but the receiver in charge of selling the company has not given exact numbers.

Ontario will have the most closures, but every province will lose at least one Blockbuster store.

Blockbuster Canada is being sold off to pay US$70 million in debt racked up by its former U.S. parent.

The Canadian arm of the chain had acted as a guarantor for Blockbuster’s U.S. business.

It went into bankruptcy protection and was later sold at auction to another owner.

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Dominion Lending Centres Clearlease Reports Reports Tommy Hilfiger to sell men’s clothing at The Bay department stores

VANCOUVER, BC (May 27, 2011) Dominion Lending Centres Clearlease Reports High-end fashion designer The Tommy Hilfiger Group said Friday May 27, 2011 that it will begin selling men’s clothing in 90 locations of The Bay.

Gary Sheinbaum, CEO of Tommy Hilfiger North America, said Canada’s “robust economy and increasingly discerning fashion consumers” influenced the decision.

The company described the setup as a “shop-in-shop,” encompassing about 500 square feet. The new displays will open by November.

In the U.S., Tommy Hilfiger entered a similar alliance with Macy’s Inc. three years ago.

Tommy Hilfiger is owned by Phillips-Van Heusen Corp., which also markets Calvin Klein, IZOD and other brands.

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Dominion Lending Centres Clearlease Reports Blockbuster Canada clearance sale begins Friday; 146 stores set to close

VANCOUVER, BC (May 27, 2011) Dominion Lending Centres Clearlease Reports that Friday May 27, 2011 clearance sales are underway at many of the Canadian Blockbuster Video stores that are closing their doors.

The movie and video game rental chain will be shutting down 146 Canadian locations next month.

A manager at one Toronto store says more than a dozen customers were hunting for bargains shortly after the store opened, but none of them had lined up to get there early.

About 1,400 Blockbuster staff could lose their jobs in Canada, but the receiver in charge of selling the company has not given exact numbers.

Ontario will have the most closures, but every province will lose at least one Blockbuster store.

Blockbuster Canada is being sold off to pay US$70 million in debt racked up by its former U.S. parent.

The Canadian arm of the chain had acted as a guarantor for Blockbuster’s U.S. business.

It went into bankruptcy protection and was later sold at auction to another owner..

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Dominion Lending Centres Clearlease Reports Reports TSX higher as commodities rise, Royal Bank earnings disappoint

VANCOUVER, BC (May 27, 2011) Dominion Lending Centres Clearlease Reports The resource sector helped lift the Toronto stock market Friday as prices for oil and metals ran ahead while the financial sector was a drag after Royal Bank (TSX:RY) delivered earnings that missed analyst expectations.

The S&P/TSX composite index gained 25.31 points to 13,801.21 while the TSX Venture Exchange was up 10.69 points to 2,082.74. The Canadian dollar was up 0.05 of a cent to 102.23 cents US.

The financial sector was down 0.65 per cent as Canada’s biggest bank reported net income of $1.51 billion or $1 per share for the second quarter, up from earnings of $1.33 billion or 88 cents per share a year ago. The average analyst estimate was for a profit of $1.12 per share, according to Thomson Reuters and Royal Bank shares lost $1.53 to $57.64.

The bank also announced a four cent increase to its quarterly dividend Friday morning — its first such increase in four years — bringing it to 54 cents per quarter.

Bank of Montreal (TSX:BMO), TD Bank (TSX:TD), CIBC (TSX:CM) and National Bank (TSX:NA) have all reported earnings this week. All except National came in below analysts expectations for earnings.

The energy sector was up 0.52 per cent as a weaker U.S. dollar helped push oil prices higher. The July contract on the New York Mercantile Exchange gained 46 cents to US$100.69 a barrel.

A weaker greenback usually helps boost oil prices, which are denominated in U.S. dollars, as it makes oil less expensive for holders of other currencies.

Suncor Energy (TSX:SU) gained 40 cents to C$41.50 and Cenovus Energy (TSX:CVE) was up 35 cents to $35.83.

The base metals sector gained 1.4 per cent as metals also picked up with the July copper contract on the Nymex ahead seven cents to US$4.18. Teck Resources (TSX:TCK.B) advanced 73 cents to C$49.88 while Lundin Mining Corp. (TSX:LUN) rose 16 cents to $7.24.

Bullion also nudged higher as the June contract in New York gained $5.70 to US$1,528.50 an ounce. The gold sector gained 0.64 per cent and Barrick Gold Corp. (TSX:ABX) climbed 24 cents to C$46.47.

In other corporate developments, Research In Motion Ltd. (TSX:RIM) was down 67 cents to $42.03 after the BlackBerry maker said Friday that a class-action lawsuit has been filed against it in the U.S., alleging that the company’s leadership made materially false and misleading statements about its financial condition and business prospects to investors.

New York markets were slightly higher after a report showed Americans’ income edged up last month.

The U.S. Commerce Department said that both personal income and spending rose 0.4 per cent in April, in line with what economists expected. Higher food and gas prices accounted for most of the spending increase.

The Dow Jones industrial average gained 51.92 points to 12,454.68.

The Nasdaq composite index rose 7.98 points to 2,790.9 while the S&P 500 index dipped 5.48 points to 1,331.17.

Trading is expected to be light before the long weekend in the U.S. New York markets are closed Monday for Memorial Day.

In other earnings news, aerospace and industrial products manufacturer Heroux-Devtek Inc. (TSX:HRX) reported fourth-quarter net income of $7.7 million or 25 cents per diluted share, up from $4.4 million or 14 cents in the same 2010 quarter. Sales revenue was just under $106 million, up from $84.9 million in the prior-year period. Its shares gained 71 cents to $9.13.

In Asia, Japan’s Nikkei 225 index moved down 0.4 per cent, Hong Kong’s Hang Seng gained one per cent and Australia’s S&P/ASX 200 added 0.5 per cent.

Chinese shares sank to their lowest level in nearly eight months as investors, succumbing to gloom over the outlook for the latter half of the year, unloaded shares.

The benchmark Shanghai Composite Index moved one per cent lower to its lowest close since Sept. 30 of last year. The Shenzhen Composite Index fell two per cent.

European markets advanced as London’s FTSE gained 1.04 per cent, Frankfurt’s DAX was up 0.5 per cent and the Paris CAC 40 climbed 0.89 per cent.

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Dominion Lending Centres Clearlease Reports Honda Canada tells customers that hackers stole some personal data

VANCOUVER, BC (May 27, 2011) Dominion Lending Centres Clearlease Reports Honda Canada on Friday May 27, 2011 has informed thousands of Honda and Acura customers that some of their personal data from 2009 was stolen when its websites were hacked.

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Dominion Lending Centres Clearlease Reports Research In Motion (NasdaqGS:RIMM)(TSX:RIM) faces class action lawsuit over claims it misled investors

VANCOUVER, BC (May 27, 2011) Dominion Lending Centres Clearlease Reports Research in Motion (NasdaqGS:RIMM)(TSX:RIM) says a class action lawsuit has been filed against the company in the United States, alleging it misled investors.

The Waterloo, Ont.,-based maker of the BlackBerry smartphone and PlayBook tablet device, said Friday that the suit claims RIM’s leadership made materially false and misleading statements about its financial condition and business prospects over a four-month period ended April 28.

RIM (TSX:RIM) said the lawsuit, filed in the U.S. District Court for the Southern District of New York, is seeking unspecified damages.

The company says it believes the allegations are without merit and that it will vigorously defend itself.

The lawsuit comes as RIM faces increased competition from Apple Inc. and others in the smartphone market.

In late April, the company cut its financial guidance for both earnings per share and revenue, saying that shipments of BlackBerry smartphones would likely be lower than initially expected.

The company also anticipates a lower average selling price for the devices.

Its PlayBook tablet debuted to little fanfare in April, and the company has been criticized for being too slow to react to the young and highly competitive tablet market where Apple has a stranglehold with its iPad device.

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Dominion Lending Centres Clearlease Reports Target (NYSE:TGT) names first 105 Canadian locations, picks spots in all 10 provinces

VANCOUVER, BC (May 26, 2011) Dominion Lending Centres Clearlease Reports Target Corp. (NYSE:TGT) announced the first 105 Zellers locations across Canada that it will look to convert into Target stores on Thursday.

The U.S. retailer picked locations in all 10 provinces.

The list includes sites owned by some 22 property owners and landlords with whom Target has reached lease agreements.

Target says it hopes to finalize the acquisition of the sites quickly and pay the first half of the $1.825 billion it agreed to for the locations.

Under the deal signed earlier this year to take over up to 220 Zellers locations from the Hudson’s Bay Co., Target will select additional locations before it makes a second payment in the fall.

Target also announced it will open a Canadian headquarters in Mississauga, Ont.

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Dominion Lending Centres Clearlease Reports Markets down on bank earnings

VANCOUVER, BC (May 26, 2011) Dominion Lending Centres Clearlease Reports The financial sector helped send the Toronto stock market lower Thursday May 26, 2011 after two of the big Canadian banks delivered quarterly results that narrowly missed analysts’ forecasts.

The S&P/TSX Composite Index approached noon down 48.41 points to 13,703.06

The Canadian dollar fell 0.29 cents to 102 cents U.S.

TD Bank’s profits grew to $1.33 billion in the second quarter from $1.18 billion. However, the results missed analyst expectations, with TD posting adjusted earnings per share of $1.59, missing forecasts by a penny. TD shares shed $1.95 to $83.34.

CIBC shares fell $3.14 to $81.31 as it reported net income of $678 million or $1.60 per share for the second quarter, compared with net earnings of $660 million or $1.59 a year ago. On an adjusted basis, the earnings were $1.75, about five cents below expectations.

National Bank of Canada reported second-quarter net income of $295 million or $1.48 per diluted share, compared with $261 million or $1.50 in the same 2010 period. The bank is also raising its common share dividend for the quarter ending July 31 to 71 cents from 66 cents but its shares fell 81 cents to $80.06 even as it beat earnings and revenue expectations.

The base metals sector was down as the July copper contract was off two cents at $4.09 U.S. First Quantum gave back $3.91 to $128.09.

Lundin Mining Corp. shares tumbled $1.67 or 19.5% to $6.89 after it said Wednesday that it will remain an independent company, after its board of directors and financial advisors wrapped up a strategic review without finding a compelling deal to pursue. The strategic review was launched after a proposed friendly tie-up with Inmet Mining Corp. was abandoned in March.

In the gold sector, Barrick Gold Corp. slipped 13 cents to $45.99 while Kinross Gold Corp. faded 11 cents to $14.88.

Suncor Energy gained 18 cents to $40.55 and Cenovus Energy was up 31 cents at $35.33.

The Maple Group Acquisition Corp., a consortium of Canadian pension funds and banks, is taking its hostile $3.6-billion bid for TMX Group directly to its shareholders. The move late Wednesday came after the stock exchange operator accelerated a shareholder vote on its favoured plan to merge with the London Stock Exchange. TMX shares gained 45 cents to $45.02.

In other earnings news, media company Quebecor Inc. said first-quarter profits slipped to $34.3 million, as its revenues grew 4.5%. On an adjusted basis, earnings were 56 cents per share, two cents below expectations and its shares gained $1.23 cents to $34.28.

On the economic front, Statistics Canada reported this morning that Canadians who worked made slightly more from what they did in March than the month before.

The nation’s number-crunchers reported that from February to March 2011, average weekly earnings of non-farm payroll employees increased 0.5% to $876.53. On a year-over-year basis, average weekly earnings were 4.1% higher compared with March 2010

ON BAYSTREET

The TSX Venture Exchange gained 5.52 points to 2,054.53 while the Nasdaq Canada index regained 1.64 points to 662.65

In Toronto, nine of the 14 subgroups were off midday. Metals and mining stocks withered 1.9%, financials lost 1.1% and materials backslid 0.6%.

The five gainers were led by health-care stocks, up 1%, information technology stocks, ahead 0.6%, and energy, 0.2% stronger.

ON WALLSTREET

In New York, stocks were under pressure Thursday, following disappointing reports on economic growth and the labour market

The Dow Jones industrial average remained down 24.83 points by the lunch break to 12,369.80.

The S&P 500 erased 0.06 points to 1,320.41. The Nasdaq Composite Index picked up 11.09 points to 2,772.47.

The blue chips were led lower by shares of Travelers, Merck and Caterpillar which were all down roughly 1%.

Technology shares helped offset broader market losses, with Microsoft, Cisco Systems and Hewlett-Packard all up more than 1%.

Stocks have been struggling this month, as optimism over upbeat corporate earnings has been tempered by signs the economy could be in for a slowdown this summer.

And there was more evidence in economic reports released Thursday morning.

Shares of Tiffany & Co. rose more than 9%, making it the best performer on the S&P 500, after the luxury jeweler reported a 12% jump in sales. The company also hiked its quarterly dividend payment to 29 cents U.S. per share from 25 cents U.S.

Signet Jewelers also fared well, with its stock rising nearly 7% in early trading. The retailer, which operates Kay Jewelers, Jared, The Galleria Of Jewelry and chains in the U.K., got a big boost from U.S. sales in its latest quarter.

NetApp shares rose 7% after the data storage company reported strong quarterly results late Wednesday and issued an upbeat outlook for the current quarter.

Freescale Semiconductor priced its initial public offering at $18 U.S. a share, below its estimated range of between $22 and $24 U.S. per share. Shares were up 6% following its IPO.

Discount retailer Big Lots said earnings rose in the most recent quarter, but issued a dour sales outlook for the current quarter, saying it expects revenue to be flat or down 3%. Big Lots shares fell 2%.

Sony reported a $3.1-billion-U.S. loss for its fiscal year, which ended in March. The company said the loss was due to deferred tax assets, and that it expects to report a profit in the current fiscal year. Shares slid 1%.

Economically speaking, the number of Americans filing first-time claims for unemployment benefits rose 10,000 to 424,000 in the most recent week, the U.S. Labor Department said.

Economists were expecting 400,000 initial claims, according to consensus estimates from Briefing.com.

Separately, the government’s revised reading on first-quarter U.S. gross domestic product was unchanged from the initial report. The Commerce Department said GDP, the broadest measure of economic activity, grew 1.8% over the same quarter a year ago.

Economists had expected the figure to be revised up to 2%.

The price on the benchmark 10-year U.S. Treasury gained ground, pushing the yield down to 3.08% from 3.13% late Wednesday. Treasury prices and yields move in opposite directions

Oil prices dropped $1.19 to $100.13 U.S. a barrel.

Gold prices backtracked $7.20 to $1,519.50 U.S. an ounce

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Dominion Lending Centres Clearlease Reports Steven Madden (NASDAQ:SHOO) completes $30 million acquisition of Cejon

VANCOUVER, BC (May 26, 2011) Dominion Lending Centres Clearlease Reports Footwear and accessories company Steven Madden Ltd. (NASDAQ:SHOO) said Thursday May 26, 2011 that it completed its $30 million buyout of the Cejon group of design and marketing companies.

The deal includes Cejon Inc., Cejon Accessories Inc. and New East Designs LLC. The companies design scarves, wraps, winter accessories and other items. Cejon, which had 2010 net sales of about $64 million, has been a licensee of Steve Madden for winter weather and other accessories since September 2006.

“The acquisition of Cejon enables us to further strengthen and expand our accessories platform,” Chairman and CEO Edward Rosenfeld said in a statement, adding that Cejon will complement the existing accessories business, which mostly concentrates on handbags and belts.

The all-cash transaction is subject to a working capital adjustment and some financial performance-based provisions for the period through June 30, 2016.

The acquisition is expected to add about 7 cents to 9 cents per share in the first full year under Steven Madden ownership after accounting for the company’s three-for-two stock split that was announced earlier this month.

Steven Madden, based in Long Island City, N.Y., runs 87 retail stores including its three on line stores. In early May the company reported its first-quarter net income climbed 16 per cent as new brands and designs drove sales.

Shares of Steven Madden gained $2.22, or 4.1 per cent, to $56 in morning trading. Over the last year, the stock has traded between $30.04 and $56.29.

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Dominion Lending Centres Clearlease Reports Toronto stock market opens higher on strong first-quarter economic data

Dominion Lending Centres Clearlease Reports Blockbuster Canada (OTC:BLOAQ) clearance sale begins Friday; 146 stores set to close

Dominion Lending Centres Clearlease Reports Reports Tommy Hilfiger to sell men’s clothing at The Bay department stores

Dominion Lending Centres Clearlease Reports Blockbuster Canada clearance sale begins Friday; 146 stores set to close

Dominion Lending Centres Clearlease Reports Reports TSX higher as commodities rise, Royal Bank earnings disappoint

Dominion Lending Centres Clearlease Reports Honda Canada tells customers that hackers stole some personal data

Dominion Lending Centres Clearlease Reports Research In Motion (NasdaqGS:RIMM)(TSX:RIM) faces class action lawsuit over claims it misled investors

Dominion Lending Centres Clearlease Reports Target (NYSE:TGT) names first 105 Canadian locations, picks spots in all 10 provinces

Dominion Lending Centres Clearlease Reports Markets down on bank earnings

Dominion Lending Centres Clearlease Reports Steven Madden (NASDAQ:SHOO) completes $30 million acquisition of Cejon

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