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MICROSOFT CORP. $43 (Nasdaq symbol MSFT; Aggressive Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 8.0 billion; Market cap: $344.0 billion; Price-to-sales ratio: 3.5; Dividend yield: 2.9%; TSINetwork Rating: Above Average; www.microsoft.com) is the world’s largest software company. Its Windows operating system powers about 90% of the world’s personal computers.

Microsoft’s other main product— its Office suite, which includes a word processor (Word) and spreadsheet program (Excel)— controls 90% of this market.

Over the past few years, Microsoft has expanded into computer-hardware products, including its Xbox video game console and Surface tablet computer.

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BROADRIDGE FINANCIAL SOLUTIONS INC. $52 (New York symbol BR; Aggressive Growth Portfolio, Finance sector; Shares outstanding: 118.2 million; Market cap: $6.1 billion; Price-to-sales ratio: 2.2; Dividend yield: 2.3%; TSINetwork Rating: Average; www.broadridge.com) serves the investment industry in three main areas: investor communications, securities processing and transaction clearing.

Without one-time items, the company earned $171.5 million in its fiscal 2015 fourth quarter, which ended June 30, 2015. That’s up 18.6% from $144.6 million a year earlier. Earnings per share rose 20.7%, to $1.40 from $1.16, on fewer shares outstanding.

Revenue gained 4.9%, to $929.6 million from $885.9 million. Broadridge continues to add new clients and is doing a good job of holding on to existing ones. Recurring fee revenue rose 7% in the latest quarter and accounted for 65% of the total.

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APPLE INC. $110 (Nasdaq symbol AAPL; Aggressive Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 5.7 billion; Market cap: $627.0 billion; Price-to-sales ratio: 2.6; Dividend yield: 1.9%; TSINetwork Rating: Average; www.apple.com) plans to let Best Buy and other retailers sell its new Apple Watch. Until now, customers could only purchase the watch through Apple’s website or in its company-owned stores.

In its latest quarter, Apple didn’t provide specific sales data for the watch, but it did say that demand exceeded its initial projections.

Apple is still a hold.

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T. ROWE PRICE GROUP INC. $71 (Nasdaq symbol TROW; Aggressive Growth Portfolio, Finance sector; Shares outstanding: 256.2 million; Market cap: $18.2 billion; Priceto- sales ratio: 4.2; Dividend yield: 2.9%; TSINetwork Rating: Average; www.troweprice.com) earned $1.24 a share in the second quarter of 2015, up 9.7% from $1.13 a year earlier. Revenue gained 10.2%, to $942.2 million from $855.3 million. On June 30, 2015, the company had $773.0 billion of assets under management, up 3.5% from $746.8 billion at the end of 2014.

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PEPSICO INC. $92 (New York symbol PEP; Conservative Growth Portfolio, Consumer sector; Shares outstanding: 1.5 billion; Market cap: $138.0 billion; Price-to-sales ratio: 2.0; Dividend yield: 3.0%; TSINetwork Rating: Above Average; www.pepsico.com) has suffered lately as a more health-conscious population consumes fewer soft drinks. Sales of its low-calorie sodas have also fallen on concerns over the long-term health effects of the artificial sweetener aspartame. In 2014, total U.S. diet soda sales declined 5.9%.

In response, PepsiCo has replaced the aspartame in Diet Pepsi with Splenda, a low-calorie sweetener made from regular sugar. The switch will likely boost sales, as the company has launched a new marketing campaign and promotions that will likely encourage consumers to try the new drink. Even so, PepsiCo’s overall sales will likely stay weak for the rest of 2015.

PepsiCo is a hold.
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MONDELEZ INTERNATIONAL INC. $42 (Nasdaq symbol MDLZ; Conservative Growth Portfolio, Consumer sector; Shares outstanding: 1.6 billion; Market cap: $67.2 billion; Price-to-sales ratio: 2.0; Dividend yield: 1.6%; TSINetwork Rating: Above Average; www.mondelezinternational.com) makes cookies and biscuits (Oreo, Chips Ahoy, Ritz), chocolate bars (Cadbury, Toblerone), gum and candy (Trident, Chiclets) and Halls cough drops.

The stock gained 10% recently on news that activist investment firm Pershing Square Capital now owns 7.5% of the company. Pershing will likely pressure Mondelez to improve its profitability, instead of trying to break it up or merge it with another food maker. However, the stock is expensive at 23.6 times the company’s projected 2015 earnings of $1.78 a share.

Mondelez is a hold.

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SONY CORP. ADRs $25 (New York symbol SNE; Conservative Growth Portfolio, Manufacturing & Industry sector; ADRs outstanding: 1.3 billion; Market cap: $32.5 billion; Price-to-sales ratio: 0.4; Dividend suspended in September 2014; TSINetwork Rating: Average; www.sony.com) recently announced plans to sell $2.6 billion worth of new common shares, as well as $1.0 billion of convertible bonds. It will use the proceeds to make more of its industry-leading image sensors for digital cameras, smartphones and tablets.

The company has had trouble selling its own smartphones and other devices, so it makes sense to focus on electronic components. As part of a recent restructuring, Sony quit making cheaper mobile phones for emerging markets, though it still makes higher-priced models for developed nations.

Meanwhile, in its fiscal 2016 first quarter, which ended June 30, 2015, Sony’s revenue fell 17.3%, to $14.8 billion from $17.9 billion a year earlier. In Japanese yen, revenue fell just 0.1%.

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CANON INC. ADRs $30 (New York symbol CAJ; Conservative Growth Portfolio, Manufacturing & Industry sector; ADRs outstanding: 1.1 billion; Market cap: $33.0 billion; Price-to-sales ratio: 1.1; Dividend yield: 4.2%; TSINetwork Rating: Above Average; www.canon.com) gets over half of its revenue by making office equipment, mainly printers and copiers. Other products include digital cameras and parts for TVs and medical gear.

Businesses continue to buy more of Canon’s copiers and laser printers, but consumers are taking more pictures with smartphones. That’s hurting the company’s camera sales.

In the three months ended June 30, 2015, Canon’s revenue fell 13.0%, to $8.0 billion from $9.2 billion a year earlier. Without the negative impact of the high U.S. dollar, sales in Japanese yen gained 5.1%. Overall earnings fell 30.2%, to $559.0 million from $800.5 million. Earnings per ADR dropped 29.2%, to $0.51 from $0.72, on fewer ADRs outstanding (each American depositary receipt represents one common share).

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NEWMONT MINING CORP. $16 (New York symbol NEM; Aggressive Growth Portfolio, Resources sector; Shares outstanding: 529.1 million; Market cap: $8.5 billion; Price-to-sales ratio: 1.1; Dividend yield: 0.6%; TSINetwork Rating: Average; www.newmont.com) has purchased the Cripple Creek & Victor gold mine in Colorado for $820 million.

Cripple Creek will produce 350,000 to 400,000 ounces of gold a year once it completes its current expansion in 2016. To put that in context, Newmont expects to produce 4.6 million to 4.9 million ounces in 2015. The mine should last until at least 2026. The company feels it can cut Cripple Creek’s operating costs by 10%. However, like most gold firms, Newmont’s shares will need a gold-price recovery to move significantly higher.

Newmont is still a hold.

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APACHE CORP. $40 (New York symbol APA; Aggressive Growth Portfolio, Resources sector; Shares outstanding: 378.0 million; Market cap: $15.1 billion; Price-to-sales ratio: 1.4; Dividend yield: 2.5%; TSINetwork Rating: Average; www.apachecorp.com) continues to sell overseas properties as part of a plan to focus on its less-risky onshore operations in North America.

The company recently sold stakes in liquefied natural gas projects and other properties in Australia for $5.7 billion and used the cash to repay $2.7 billion of loans. As of June 30, 2015, Apache’s long-term debt was $9.7 billion, or 64% of its market cap. It also held cash of $2.95 billion.

Excluding writedowns and other unusual items, earnings dropped 85.8% in the three months ended June 30, 2015, to $82 million, or $0.22 a share, from $576 million, or $1.49 a share, a year earlier. Revenue fell 39.9%, to $2.0 billion from $3.3 billion. The company now plans to cut its capital spending to between $3.6 billion and $3.9 billion in 2015, down from $10.9 billion in 2014.

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CHEVRON CORP. $73 (New York symbol CVX; Conservative Growth Portfolio, Resources sector; Shares outstanding: 1.9 billion; Market cap: $138.7 billion; Price-to-sales ratio: 0.9; Dividend yield: 5.9%; TSINetwork Rating: Above Average; www.chevron.com) has sold $11 billion worth of less important businesses since 2014. It should reach its goal of selling $15 billion of assets by 2017.

Even with the sales, the company’s oil output will likely average 3.1 million barrels a day in 2017, up 19.2% from 2.6 million in the second quarter of 2015.

That’s mainly because Chevron plans to start up two big offshore gas projects: its 47.3%-owned Gorgon field, off Australia’s northwest coast, and the nearby Wheatstone field (64.14% owned). Each will also have a plant to convert the gas into a liquid for shipment to buyers in Asia.

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PHILIPS ELECTRONICS N.V. ADRs $25 (New York symbol PHG; Conservative Growth Portfolio, Manufacturing & Industry sector; ADRs outstanding: 925.3 million; Market cap: $23.1 billion; Priceto- sales ratio: 0.9; Dividend yield: 3.5%; TSINetwork Rating: Average; www.philips.com) will soon close the $2.9-billion sale of 80.1% of its light emitting diode (LED) components and automotive-lighting division. The buyer is private equity firm GO Scale Capital.

The deal excludes Philips’s lighting-solutions operations, which design and build LED systems for large-scale uses. The company plans to spin this business off as a separate firm. After the spinoff, Philips will focus on medical equipment and consumer goods.

Philips is a buy.

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NORDSTROM INC. $74 (New York symbol JWN; Aggressive Growth Portfolio, Consumer sector; Shares outstanding: 188.2 million; Market cap: $13.9 billion; Price-to-sales ratio: 1.0; Dividend yield: 2.0%; TSINetwork Rating: Average; www.nordstrom.com) owns and operates 304 stores in the U.S. and Canada that mainly sell upscale clothing, accessories and footwear.

In its fiscal 2016 second quarter, which ended August 1, 2015, sales rose 9.1%, to $3.7 billion from $3.4 billion a year earlier. Same-store sales (which exclude contributions from new outlets) rose 4.9%. Earnings gained 14.7%, to $1.09 a share from $0.95.

Toronto-Dominion Bank (Toronto symbol TD) recently agreed to buy the company’s credit card loans for $1.8 billion. Nordstrom will probably use these funds to pay down its total debt of $3.1 billion.

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TERADATA CORP. $29 (New York symbol TDC; Aggressive Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 141.6 million; Market cap: $4.1 billion; Price-to-sales ratio: 1.5; No dividends paid; TSINetwork Rating: Average; www.teradata.com) makes computers and software that capture and store large amounts of a business’s data. It then analyzes this information and identifies buying habits and other trends.

In the second quarter of 2015, Teradata’s earnings fell 33.3%, to $76 million from $114 million a year earlier. Per-share profits declined 26.4%, to $0.53 from $0.72, on fewer shares outstanding. Revenue slipped 7.8%, to $623 million from $676 million.

Strong competition from bigger firms like IBM and Oracle, as well as cloud-based analytics services, continue to hurt Teradata’s earnings. That’s why the stock trades at just 12.3 times the $2.35 a share the company will probably earn in 2015.

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NCR CORP. $24 (New York symbol NCR; Aggressive Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 169.8 million; Market cap: $4.1 billion; Price-to-sales ratio: 0.6; No dividends paid; TSINetwork Rating: Average; www.ncr.com) makes automated teller machines, cash registers, self-serve checkouts and kiosks. The company set up Teradata (see right) as a separate firm in October 2007. It’s now conducting a strategic review, which could lead to more divisions being sold or spun off.

Meanwhile, NCR lost $344 million, or $2.03 a share, in the three months ended June 30, 2015. A year earlier, it earned $90 million, or $0.53 a share.

The loss mainly came from a one-time charge stemming from NCR’s transfer of an underfunded U.K. pension plan to an insurance company. Without unusual items, it earned $0.66 a share in the latest quarter, down 2.9% from $0.68.

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KEYSIGHT TECHNOLOGIES INC. $31 (New York symbol KEYS; Aggressive Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 169.0 million; Market cap: $5.2 billion; Price-to-sales ratio: 1.8; No dividends paid; TSINetwork Rating: Average; www.keysight.com) makes equipment for testing electronics. Clients include makers of computer chips (44% of total revenue) and communications gear (33%), as well as aerospace and defence firms (23%).

In its fiscal 2015 third quarter, which ended July 31, 2015, the company’s revenue fell 12.2%, to $665 million from $757 million a year earlier. Excluding unusual items, earnings declined 29.3%, to $94 million, or $0.55 a share, from $133 million, or $0.80. It spends 14% of its revenue on research.

As of July 31, 2015, Keysight held cash of $1.0 billion, or $5.92 a share. Its long-term debt of $1.1 billion is equal to 21% of its market cap. In August 2015, the company used $600 million of its cash to buy U.K.-based Anite, a software maker whose products will make Keysight’s testing equipment for wireless handsets perform better.

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AGILENT TECHNOLOGIES INC. $36 (New York symbol A; Aggressive Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 332.0 million; Market cap: $12.0 billion; Price-to-sales ratio: 1.6; Dividend yield: 1.1%; TSINetwork Rating: Average; www.agilent.com) split into two publicly traded firms on November 1, 2014.

One company kept the Agilent name and stock symbol and focuses on testing equipment for medical research labs. The other firm, called Keysight Technologies (see right), makes testing systems for electronics.

Under the spinoff, Agilent shareholders received one Keysight share for every two shares they held.

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MONSANTO CO. $97 (New York symbol MON, Aggressive Growth Portfolio; Manufacturing & Industry sector; Shares outstanding: 467.8 million; Market cap: $45.4 billion; Price-tosales ratio: 2.7; Dividend yield: 2.2%; TSINetwork Rating: Above Average; www.monsanto.com) has dropped its takeover offer for Switzerland-based rival Syngenta AG, the world’s largest maker of pesticides, herbicides and other agricultural chemicals.

A merger would have let Monsanto and Syngenta jointly develop new genetically modified seeds for corn, soybeans and other crops. Syngenta’s expertise would also improve Monsanto’s pesticide products.

In addition, the new firm could cut costs and improve its efficiency by combining distribution networks. Monsanto recently increased its bid by 5%, to $47 billion in cash and shares.

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3M COMPANY $143 (New York symbol MMM; Conservative Growth and Income Portfolios, Manufacturing & Industry sector; Shares outstanding: 624.8 million; Market cap: $89.3 billion; Price-to-sales ratio: 2.8; Dividend yield: 2.9%; TSINetwork Rating: Above Average; www.3m.com) started up in 1902, when it was called the Minnesota Mining & Manufacturing Company.

3M started off making sandpaper and abrasives for industrial clients. It later developed other consumer and manufacturing-related goods, such as pressure-sensitive masking and packaging tape, recording tape and reflective highway markings.

Today, 3M makes more than 55,000 items, including air purifiers, medical device components and bandages. Top-selling brands include Post-it notes, Scotch tape, Scotch-Brite cleaning products, Scotchguard protection and Thinsulate insulation.

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Our outlook on blue chip stock Manitoba Telecom as its shares begin to recover in the wake of a strategic review and network upgrades.

ENERFLEX LTD. $11.23 (Toronto symbol EFX; TSINetwork Rating: Extra Risk) (403-387-6377; www.enerflex.com; Shares outstanding: 79.0 million; Market cap: $924.9 million; Dividend yield: 3.0%) rents and sells equipment and services for natural gas production, including compression and processing plants, refrigeration gear and power generators.

On June 30, 2014, the company closed its $431- million U.S. acquisition of two businesses owned by privately held Axip Energy Services: an international contract compression and processing subsidiary and a division that provides aftermarket services.

In the three months ended June 30, 2015, Enerflex’s revenue fell 8.3%, to $389.7 million from $424.9 million a year earlier. But earnings per share more than doubled, to $0.34 from $0.15. International contributions from the Axip businesses pushed up earnings and almost offset weaker revenue in the U.S. and Canada. However, falling oil and gas prices are now hurting the company’s orders.

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TOROMONT INDUSTRIES LTD. $36.75 (Toronto symbol TIH; TSINetwork Rating: Extra Risk) (416-667- 5511; www.toromont.com; Shares outstanding: 77.6 million; Market cap: $2.9 billion; Dividend yield: 1.9%) distributes a broad range of industrial equipment, including machinery made by Caterpillar Inc. It also makes refrigeration systems through its CIMCO division.

The company completed the spinoff of Enerflex Ltd. (see right) in 2011. Shareholders received shares of both the new Toromont Industries and Enerflex.

In the quarter ended June 30, 2015, Toromont’s revenue rose 16.6%, to $484.5 million from $415.6 million a year earlier. Earnings gained 26.1%, to $36.4 million, or $0.47 a share, from $28.9 million or $0.37.

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