Best canada stocks to buy july 22 2011 ; Listed below are the stocks expected to move during Friday's trading session. They are listed with Thursday's closing prices.
Dundee REIT (D.UN.T, C$33.30, C$0.45, 1.4%) will buy a portfolio of 29 office properties in Canada from Blackstone Real Estate Advisors and Slate Properties for C$831.8 million, and sell five of the properties to third parties for C$142 million. RBC called the acquisition a "very good strategic fit" for Dundee.
TMX Group Inc. (X.T, C$43.90, unchanged) said its board is allowing it to hold talks with Maple Group Acquisition Corp. regarding Maple's hostile offer. The board is making no recommendation to shareholders on Maple's offer.
Lundin Mining Corp. (LUN.T, C$7.21, -C$0.04, -0.6%) cut its production targets for the full year after second-quarter output at its Neves Corvo operation in Portugal came in below expectations. TD cuts its rating on the stock to hold from buy.
Celestica Inc. (CLS, C$8.04, -C$0.14, -1.7%) posted an adjusted profit of 27 cents in the second quarter, above analyst expectations. Revenue rose to $1.83 billion and also beat estimates.
Vitran Corp. (VTNC, C$10.38, -C$0.07, -0.7%) posted a 23% increase in second-quarter revenue but swung to a loss, noting that its U.S. operations experienced challenges.
Precision Drilling Corp. (PDS, C$15.39, C$0.22, 1.5%) said its Canadian activity was frustrated by an exceptionally wet spring, but that its U.S. operations delivered strong results. The company swung to a profit from a year-ago loss.
West Fraser Timber Co. (WFT.T, C$50.94, -C$0.06, -0.1%) said lumber prices in the second half of the year are expected to be lower than in the first half as low U.S. housing starts continue to limit demand. The company posted weaker-than-exected second-quarter financial reults.
Allied Properties (AP.UN.T, C$24.03, C$0.34, 1.4%) plans a C$90 million offering at C$23.50 a unit. It also will acquire C$179 million of properties.
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