Bombardier Inc. (BBD/B CN): The world's third-largest airplane
maker will open a customer support office in Japan, the first
outside Canada, after one of its planes was involved in an accident
in the Asian country, Todd Young, Bombardier's vice president of
customer support and engineering, said at a press conference in
Tokyo today. Coverage of Bombardier was initiated at ``sector
outperformer'' by CIBC World Markets. The shares were unchanged at
C$4.51.
Corel Corp. (CRE CN): The maker of WordPerfect and CorelDraw
software forecast second-quarter profit excluding some items in the
range of 28 to 35 Canadian cents a share. Four analysts polled by
Bloomberg estimated 36 cents a share on average. The shares fell 5
cents, or 0.3 percent, to C$15.05.
EnCana Corp. (ECA CN): Canada's biggest natural-gas producer
was cut to ``hold'` from ``buy'` at A.G. Edwards. The shares
dropped C$1.58, or 2.6 percent, to C$60.10.
Groupe Laperrière & Verreault Inc. (GLV/A CN): The maker of
industrial equipment sold its Process Division, a mineral sorting
business, to Denmark's FLSmidth A/S, for 4.8 billion kroner ($876
million). GL&V, based in Trois-Rivieres, Canada, will get C$33 a
share under the terms of the deal, Valby, Denmark-based FLSmidth
said in a statement today. The unit has annual sales of about C$523
million ($463 million). GL&V shares gained 20 cents, or 0.7
percent, to C$29.50.
Moly Mines Ltd. (MOL CN): Sprott Asset Management Inc., a
Toronto-based money manager overseeing C$4.5 billion ($4 billion),
bought an initial 6.2 percent stake in molybdenum explorer Moly
Mines to take advantage of soaring prices for the metal. Sprott,
which is raising C$200 million ($177 million) for a molybdenum
investment fund, has bought 3.7 million shares in Moly Mines, the
Canadian company said in a filing to the Australian Stock Exchange
today. Moly mines shares fell 38 cents, or 8.5 percent, to C$4.07.
