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Canadian stocks are up 25 points mid-afternoon Tuesday as some investors and traders look for bargains, taking advantage of the fact that many of their counterparts are sitting the session out because of uncertainty relating to talk of the U.S. debt ceiling being raised.

Easily most actively traded is Uranium One Inc. (UUU.TO) - which has risen from around $1.80 on December 7, 2012, to near the $2.80 mark. It has seen another 10 million shares traded today. It saw around 60 million shares traded Monday after it announced that it has entered into a definitive agreement with JSC Atomredmetzoloto and its affiliate, Effective Energy N.V., (collectively ARMZ) under which the company would be taken private pursuant to a plan of arrangement. ARMZ and its affiliates currently own 51.4% of the Uranium One common shares.

In today's company news, shares of Lulelemon Athletica Inc (LULU, LLL.TO) are sharply lower in trading on both sides of the border today after the yoga apparel company last night guided Q4 revenue and EPS projections below Street expectations.

LULU now sees earnings in a range of $0.71 to $0.73 a share, trailing the analyst consensus by at least a penny. Revenue is seen coming in at around $475 million to $480 million, near the top of its prior guidance but still missing estimates by at least $9 million.

Analyst response to the announcement was mixed: Buckingham Research today cut LULU to Underperform while William Blair recommended buying to take advantage of the stock's lower price.

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