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CanWest Global, MDS, Transat A.T.: Canadian Equity Preview

By John Kipphoff

Sept. 8 (Bloomberg) -- The following is a list of companies whose shares may have unusual price changes in the Canadian market. This preview includes news that broke after markets closed yesterday.

Stock symbols are in parentheses after company names. Prices are from yesterday's close. The Standard & Poor's/TSX Composite Index was little changed, adding 11.93, or 0.1 percent, to 10,810.05.

CanWest Global Communications Corp. (CGS/SV CN): Canada's biggest media group said it will sell a 28 percent interest in its Canadian newspaper and interactive media businesses, excepting the National Post newspaper. The sale will be via an initial public offering of units in an income fund, which will use net proceeds from the offering and C$830 million of a C$1 billion in credit arranged by Bank of Nova Scotia to buy the assets for sale. CanWest Global expects total proceeds of about C$1.45 billion, which, together with a new C$500 million loan, will be used pay down debt. The shares lost 6 cents, or 0.4 percent, to C$15.15.

MDS Inc. (MDS CN): Canada's largest contract research company said fiscal third-quarter profit excluding some items was 18 Canadian cents a share. The average estimate of seven analysts polled by Thomson Financial was 22 cents. The shares declined 69 cents, or 3.2 percent, to C$20.96.

Transat A.T. Inc. (TRZ/B CN): The Montreal-based seller of vacation packages and owner of Canada's biggest charter airline, said fiscal third-quarter net income was C$794,000, or 2 cents a share, compared with profit of C$12.8 million, or 31 cents, a year earlier. Revenue climbed to C$552.9 million from C$499.1 million. The shares fell 67 cents, or 3.2 percent, to C$20.01.

To contact the reporter on this story: John Kipphoff in Toronto at jkipphoff@bloomberg.net.

Last Updated: September 8, 2005 08:11 EDT

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