Nova Chemicals
Toronto symbol NCX, makes industrial plastics that manufacturers use to make a wide variety of products including auto parts, construction materials and packaging.
partly because so many commentators are talking about the risk of a 1930s-style depression.
That kind of talk is common in any deep stock market setback. But this time it’s closer to home, due to plunging house prices and the troubles of the auto industry.
To top it off, President Obama has taken to warning that we risk a new depression if …read more »
NOVA CHEMICALS CORP. $5.44 (Toronto symbol NCX; Conservative Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 83.2 million; Market cap: $452.6 million; SI Rating: Extra risk) expects to spend $160 million U.S. on capital upgrades in 2008, down from its original target of up to $225 million U.S. It will also cut its 2009 spending by $100 million U.S.
Nova makes …read more »
Nova Chemicals Corp. $26 (Toronto symbol NCX Conservative Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 83.1 million; Market cap: $2.2 billion; SI Rating: Extra risk) earned $0.21 a share (total $18 million) in the second quarter of 2008, down 78.1% from $0.96 a share ($80 million) a year earlier (all amounts except share price and market cap in U.S. …read more »
NOVA CHEMICALS CORP. $28 (Toronto symbol NCX; Conservative Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 83.1 million; Market cap: $2.3 billion; SI Rating: Extra risk) has formed a joint venture with Reliance Industries Ltd. This new company will design and build energy efficient buildings in India, using construction components supplied by Nova. This alliance gives Nova an easy way …read more »
NOVA CHEMICALS CORP. $24 (Toronto symbol NCX; Conservative Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 83.1 million; Market cap: $2.0 billion; SI Rating: Extra risk) makes industrial plastics that manufacturers use to make a wide variety of products including auto parts, construction materials and packaging. Nova’s plant in Joffe, Alberta is the world’s largest producer of ethylene and polyethylene, …read more »
Agrium and Nova use natural gas to make their products, and ready access to large gas reserves gives them a cost advantage over their competitors. However, only Nova is a buy at current prices.
AGRIUM INC. $72 (Toronto symbol AGU; Aggressive Growth Portfolio, Resources sector; Shares outstanding: 158.0 million; Market cap: $11.4 billion; SI Rating: Average) is a leading producer of …read more »
UNIVERSAL CANADIAN GROWTH FUND $20.93 (CWA Rating: Conservative) (Mackenzie Financial Corp., 150 Bloor St. West, Toronto, Ont. M5S 3B5. Web site: www.mackenziefinancial.com. 1-800-387-0780; Load fund — available from brokers) holds companies with strong management and sound business prospects. The fund holds fewer than 40 stocks at all times.
Top holdings include TD Bank, Kinross Gold, Edwards Lifesciences, John Wiley & Sons, …read more »
NOVA CHEMICALS CORP. $28 (Toronto symbol NCX; Conservative Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 83.1 million; Market cap: $2.3 billion; SI Rating: Extra risk) earned a record $4.16 a share in 2007, compared to a loss of $8.52 in 2006 (all amounts except share price and market cap in U.S. dollars). The 2006 loss included a $9.35 a …read more »
MDS INC. $19 (Toronto symbol MDS; Conservative Growth Portfolio, Consumer sector; Shares outstanding: 122.5 million; Market cap: $2.3 billion; SI Rating: Average) is now 16.8% owned by activist investor ValueAct Capital Management LLC. That’s up from 6.6% in May, 2007. ValueAct will likely spur MDS to move more aggressively with its current restructuring plan.
Meanwhile, MDS has agreed to sell two …read more »
NOVA CHEMICALS CORP. $31 (Toronto symbol NCX; Conservative Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 83.1 million; Market cap: $2.6 billion; SI Rating: Extra risk) makes two types of industrial plastics. Ethylene/polyethylene is used in a wide variety of products, such as plastic bags, automotive parts, appliances and electronics. This business supplies 60% of Nova’s revenue. The remaining 40% …read more »
