Stocks are in retreat Friday as profit-taking follows this weeks gains. The S&P/TSX composite index is down 87 points to 6,640.

An earnings warning by from Bombardier has put extra pressure on Toronto stocks. Bombardier announced before the market opened that the downturn in the aircraft industry will drive its full-year earnings per share down 19 cents from earlier estimates, to 70 cents. Shares in the stock are down almost 14% to $7.75.

The information technology sector is off 2.3% , with Nortel Networks down 6¢ to $1.95. Celestica and Tundra Semiconductors are both lower.


Bombardier’s announcement has hit other airline-related stocks. Air Canada is of 20¢to $5.60 and CAE is down 18¢ to $6.92.

CIBC is recovering from recent declinces, adding 71¢ to $42.45

Shares of Imax Corp. are 19¢ to $7.69 after the wide-screen theatre company announced a large block of its shares will remain under control of its largest shareholder, a U.S.-based investment company.

In New York, the Dow Jones industrial average is off 179 points at 8,874. The Nasdaq composite has shed 37 points to 1,385. The S&P 500 index has slipped declined 19 points to 943.

The only winner today is the the junior TSX Venture Exchange, which is up 4 points to 1,001.