Blue Pearl, Bombardier, Nortel, Nexen: Canadian Equity Preview
By John Kipphoff and Lynn Thomasson
vor der CAN Eröffnung
March 28 (Bloomberg) -- The following is a list of companies whose shares may have unusual price changes in Canadian markets today. This preview includes news that broke after markets closed yesterday. Symbols are in parentheses after company names and prices are from the last close.
The Standard & Poor\'s/TSX Composite Index fell 84.12, or 0.6 percent, to 13,218.76, yesterday in Toronto.
Blue Pearl Mining Ltd. (BLE CN): The metal producer, which was the second-best performer on Canada\'s main stock index in the past year, may list or sell new stock on the New York Stock Exchange to increase demand for its shares, Chief Executive Officer Kevin Loughrey said yesterday in a telephone interview in Toronto. Blue Pearl produces molybdenum, a copper byproduct that strengthens steel. The shares slipped 43 cents, or 3.6 percent, to C$11.63.
Bombardier Inc. (BBD/B CN): The world\'s third-largest maker of commercial aircraft said fourth-quarter profit rose 30 percent, as earnings in the company\'s rail business more than quintupled. Net income in the period ended Jan. 31 climbed to $112 million, or 6 cents a share, from $86 million, or 5 cents. Revenue increased 8.7 percent to $4.39 billion, Montreal-based Bombardier said in a statement. The shares rose 3 cents, or 0.7 percent, to C$4.61, and have gained 72 percent in a year.
Great Lakes Carbon Income Fund (GLC-U CN): The maker of coke used in aluminum production plans to be acquired by Oxbow Carbon & Minerals Holdings Inc. for C$680.4 million ($587.8 million), or C$14 a unit, after Rain Commodities Inc. failed to increase its Feb. 4 offer of C$11.60 a unit. Great Lakes said yesterday that it will pay a termination fee of C$17 million to Hyderabad, India- based Rain, which owns 20 percent of Great Lakes. Great Lakes fell 32 cents, or 2.3 percent, to C$13.82.
Miranda Technologies Inc. (MT CN): The maker of television broadcasting hardware and software said first-quarter profit may fall short of analyst estimates. The company said it now expects sales to be between C$20 million to C$22 million. Five analysts polled by Bloomberg estimated C$26.8 million on average. Shares fell 2 cents to C$13.95.
Nexen Inc. (NXY CN): The oil and natural-gas producer\'s board of directors approved a two-for-one stock split. The split still requires approval by shareholders and regulators, Nexen said in a statement on Market Wire. The shares slipped 62 cents, or 0.9 percent, to C$70.05.
Nortel Networks Corp. (NT CN): North America\'s biggest maker of telephone equipment added Mobile Satellite Ventures LP and Wind Telecom as customers for a new high-speed wireless technology after losing sales in other units. Nortel said today that Mobile Satellite is testing its WiMax technology for a network in the U.S. and Canada. Wind Telecom is using Nortel equipment to deliver faster wireless service in the Dominican Republic by September. Nortel shares added 57 cents, or 2 percent, to C$28.61, and have dropped 15 percent in a year.
Pinetree Capital Ltd. (PNP CN): The company that invests in startups in the resource industry said it will sell between 1.5 million and 5 million shares at C$24.26 a share. Additional shares may dilute earnings per share. Shares rose 10 cents to C$24.50.
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