TORONTO, Aug 9 (Reuters) – Menu Foods Income Fund
(MEW_u.TO: Quote, Profile, Research, Stock Buzz), an embattled Canadian pet-food maker, announced a
deal on Monday to be bought by one of America’s largest
private-label pet food makers for C$239 million ($232.9
million), ending years of struggle following a tainted food
Menu Foods units soared more than 45 percent on the news
that Arkansas-based Simmons Pet Food Inc is set to buy it.
TORONTO, Aug 8 (Reuters) – Canadians have to eat in good
times and bad, but they don’t have to buy a new snowblower.
That’s simple logic behind the rally in consumer staples
during Bay Street’s turbulent second quarter when economists
started to fret about a double-dip recession.
TORONTO, Aug 5 (Reuters) – Canada’s Biovail Corp (BVF.TO: Quote, Profile, Research, Stock Buzz)
(BVF.N: Quote, Profile, Research, Stock Buzz) on Thursday said strong sales of its antidepressant
helped quarterly earnings rise nearly 30 percent, while Paladin
Labs Inc (PLB.TO: Quote, Profile, Research, Stock Buzz)’s stable of drugs pushed profit past
For Biovail, sales of its Wellbutrin antidepressant,
Xenazine for neurodegenerative disorders and a portfolio of
generic products drove revenues up 23 percent.
TORONTO, Aug 3 (Reuters) – Saputo Inc (SAP.TO: Quote, Profile, Research, Stock Buzz), Canada’s
biggest dairy processor, reported a more than 31 percent rise
in quarterly profit on Tuesday, helped by higher U.S. cheese
prices and despite lower revenues.
“It was a relatively straightforward quarter that played
out pretty much like the commodity prices that we saw during
the quarter suggested it would,” said analyst Candice Williams
of Canaccord Genuity.
TORONTO, July 30 (Reuters) – Angiotech Pharmaceuticals Inc
(ANP.TO: Quote, Profile, Research, Stock Buzz) (ANPI.O: Quote, Profile, Research, Stock Buzz) reported a bigger quarterly loss on Friday as
royalty payments from one of its marketing partners slowed,
sending shares down more than 4 percent on the Nasdaq.
TORONTO, July 30 (Reuters) – George Weston Ltd (WN.TO: Quote, Profile, Research, Stock Buzz),
Canada’s largest food processor and distributor, said on Friday
its profit rose on strong operating performances, but the
result fell short of expectations and its shares dropped.
Revenues climbed marginally as sales, particularly at its
Weston Foods bakery business, fell on currency conversions as
well as lower pricing and volumes.
TORONTO (Reuters) – For billionaire Mario Gabelli, the $1.9 billion takeover offer for Casey’s General Stores (CASY.O: Quote, Profile, Research, Stock Buzz) made by Alimentation Couche-Tard (ATDb.TO: Quote, Profile, Research, Stock Buzz) just isn’t sweet enough for him to sell his shares.
“We like Casey’s as an investment,” said Gabelli, who is ranked No. 937 on the Forbes 2010 list of the world’s richest people. “We were buying the stock at $30 because we thought in a couple of years the stock would be materially higher.”
TORONTO, July 27 (Reuters) – Pharmaceuticals company QLT
Inc (QLT.TO: Quote, Profile, Research, Stock Buzz) swung to a quarterly loss on Tuesday and said it
now expects sales of its key eye treatment, Visudyne, for the
full year to be near the bottom end of its previous forecast.
The company had forecast worldwide Visudyne sales in the
range of $90 million to $100 million in 2010. Visudyne sales
dropped 16 percent to $24.4 million in the second quarter,
ended June 30.
TORONTO, July 22 (Reuters) – Shoppers Drug Mart (SC.TO: Quote, Profile, Research, Stock Buzz),
Canada’s No.1 pharmacy chain, said on Thursday earnings rose
6.2 percent, driven by stronger sales, but it expects full-year
profit to come in below what analysts had forecast earlier.
The company said the results did not reflect the impact of
Ontario’s drug pricing initiatives, some of which came into
effect July 1. The province, Canada’s most populous, enacted
the reforms to cut costs and lower drug prices for consumers.
TORONTO, July 22 (Reuters) – Loblaw Cos (L.TO: Quote, Profile, Research, Stock Buzz), Canada’s
biggest grocery store chain, said on Thursday quarterly
earnings dropped 8.6 percent as infrastructure and technology
investments held back profit.
Even so Loblaw shares climbed close to 1 percent as the
results still came in ahead of expectations.