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Patrick McKeough is one of Canada’s top safe-money advisors. The Wall Street Journal, Forbes and The Hulbert Financial Digest have all recognized his ability to find stocks with hidden value. He is editor and publisher of The Successful Investor, Stock Pickers Digest, Wall Street Stock Forecaster and Canadian Wealth Advisor; inventor of the Quick Profit/Value System and the ValuVesting System™. A best-selling Canadian author, he wrote Riding the Bull, the book that predicted the 1990s stock-market boom.

Updating IMPERIAL OIL LTD. and TELUS CORP.

August 14, 2009 -  Be the first to comment
Posted by: Pat McKeough Filed in: Income Investing
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IMPERIAL OIL LTD. $40 earned $0.25 a share in the three
months ended June 30, 2009. That’s down 80.5% from $1.28 a
year earlier. The drop was mainly caused by falling crude-oil and
natural-gas prices. As well, its Cold Lake and 25%-owned
Syncrude oil-sands projects were closed for maintenance during
the quarter, which added to its costs. However, oil prices have
more than doubled since last February’s low of $32 U.S. a barrel.
Higher selling prices and a return to full production at its oil-sands
operations should help Imperial’s third-quarter earnings. Best Buy.

TELUS CORP. $34 continues to attract new wireless subscribers,
which helps it offset losses of traditional phone customers to cable
companies. In the second quarter of 2009, Telus added 111,000
wireless subscribers, down 36.8% from a year earlier. Still, Telus
ended the quarter with 6.3 million wireless users, or 7.8% more
than a year ago. Average spending per wireless user fell 6.6%, but
this should improve with the economy. Buy.

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