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TELUS $42.03 (Toronto symbol T; Shares outstanding: 615.0 million; Market cap: $25.6 billion; TSINetwork Rating: Above Average; Dividend yield: 3.8%; www.telus.com) added 113,000 wireless subscribers, net of cancellations, in the three months ended September 30, 2014, up 8.7% from a year earlier. It now has 8.0 million wireless users and continues to attract high-speed Internet and digital TV subscribers, as well.

As a result, Telus’s revenue rose 5.4%, to $3.0 billion from $2.9 billion. Earnings gained 6.0%, to $387 million from $365 million.

Telus spent $164 million on share buybacks in the latest quarter, so its per-share earnings rose 10.3%, to $0.64 from $0.58.

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MANULIFE FINANCIAL $22.93 (Toronto symbol MFC; Shares outstanding: 1.9 billion; Market cap: $42.1 billion; TSINetwork Rating: Above Average; Dividend yield: 2.7%; www.manulife.ca) sells life and other forms of insurance, as well as mutual funds and investment management services.

In the three months ended September 30, 2014, Manulife’s earnings per share gained 8.3%, to $0.39 from $0.36 a year earlier. Revenue rose 7.4%, to $9.5 billion from $8.8 billion, on strong sales of insurance and wealth management products in Asia.

As of September 30, Manulife had $663 billion of assets under management. After the quarter ended, it bought U.K.-based Standard Life’s Canadian insurance operations for $4 billion. In all, Standard Life has about 2,000 employees across Canada, along with 1.4 million clients and $52.0 billion of assets under management.

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SUN LIFE FINANCIAL $43.15 (Toronto symbol SLF; Shares outstanding: 611.6 million; Market cap: $25.9 billion; TSINetwork Rating: Above Average; Dividend yield: 3.3%; www.sunlife.ca) sells life insurance, savings, retirement and pension products to individuals and corporations.

The company has $698.2 billion of assets under management. It mainly operates in Canada, the U.S. and the U.K., but it continues to expand into Asia.

In August 2013, Sun Life sold its riskier, money-losing U.S. annuity business, which offers products that guarantee minimum long-term returns even if markets fall.

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RIOCAN REAL ESTATE INVESTMENT TRUST $26.85 (Toronto symbol REI.UN; Units outstanding: 307.8 million; Market cap: $8.5 billion; TSINetwork Rating: Average; Dividend yield: 5.3%; www.riocan.com) continues to open new shopping malls and, with partners, mixeduse properties with office and residential space. The trust is also selling off less profitable properties.

In the third quarter of 2014, RioCan’s net leasable area shrank by 2.5%, to 71.6 million square feet from 73.5 million a year earlier.

But thanks to strong demand from retailers, it’s renewing leases at higher rental rates. That’s why its cash flow rose 7.4% in the latest quarter, to $131 million from $122 million. Cash flow per unit gained 5.0%, to $0.42 from $0.40, on more units outstanding. RioCan’s revenue rose 10.0%, to $296 million from $269 million.

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ISHARES AUSTRALIA INDEX FUND $23.48 (New York symbol EWA; buy or sell through brokers) is an ETF that holds the 79 largest Australian stocks. Its MER is 0.48%.

The fund’s top holdings include Commonwealth Bank of Australia, 11.7%; Westpac Banking Corp., 9.1%; BHP Billiton, 8.5%; Australia and New Zealand Banking Group, 7.9%; National Australia Bank, 6.9%; Wesfarmers, 4.2%; CSL Ltd., 3.6%; Woolworths, 3.5%; Woodside Petroleum, 2.3%; Rio Tinto, 2.2%; Telstra Group, 2.2%, and Scentre Group, 1.7%; and Westfield Group, 1.5%.

Australia benefits from its stable banking and political systems. It is also rich in natural resources and close to key Asian markets with vast potential, including India and China.

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SPDR S&P CHINA ETF $79.29 (New York symbol GXC; buy or sell through brokers; www.spdrs.com) aims to track the S&P China BMI Index, which is made up of all publicly traded Chinese stocks available to foreign investors. Right now, the fund holds 307 stocks.

The $1.0-billion fund’s top holdings are Tencent Holdings, 7.7%; China Mobile, 6.2%; Baidu, 6.1%; China Construction Bank, 5.7%; Industrial & Commercial Bank, 5.1%; Bank of China, 3.3%; China Life Insurance, 2.4%; CNOOC Ltd., 2.1%; PetroChina, 2.1%; and China Petroleum & Chemical, 1.9%.

The ETF was launched on March 19, 2007. It has a 0.59% MER and yields 2.5%.

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ISHARES MSCI EMERGING MARKETS EASTERN EUROPE INDEX FUND $19.30 (New York symbol ESR; buy or sell through brokers) has 65.6% ofits assets invested in Russia, followed by Poland at 27.2%; Czech Republic, 3.6%; and Hungary, 3.2%.

The fund’s top holdings are Gazprom (Russia: gas utility), 14.1%; Lukoil (Russia: oil), 9.8%; Sberbank (Russia: bank), 6.2%; Magnit PJSC (Russia: retailing), 6.2%; MMC Norilsk Nickel (Russia: mining), 3.3%; PKO Bank Polski (Poland: banking), 4.1%; and Novatek (Russia: natural gas), 3.6%.

iShares MSCI Emerging Markets Eastern Europe Index Fund’s expense ratio is 0.67%.

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ISHARES MSCI BRAZIL INDEX FUND $39.87 (New York symbol EWZ; buy or sell through brokers) is an ETF that is designed to track the Brazilian stock market.

Its top holdings are Cia Itau Unibanco Holding (banking), 9.2%; Petrobras (oil and gas), 8.1%; Banco Brandesco SA, 7.9%; AmBev (beer and beverages), 7.5%; Vale do Rio Doce (mining), 5.8%; BRF SA (food), 4.3%; and Cielo SA (payment processor), 3.3%.

The ETF was launched on July 10, 2000. It has a 0.61% expense ratio.

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ISHARES MSCI CHILE INVESTABLE MARKET INDEX FUND $41.09 (New York symbol ECH; buy or sell through brokers) is an ETF that aims to track the MSCI Chile Investable Market Index, which consists of stocks that mainly trade on the Santiago Stock Exchange.

The fund’s top holdings are S.A.C.I. Falabella (retail), 10.3%; Enersis SA (electricity), 9.6%; Empresas Copec SA (conglomerate), 7.8%; Empresa Nacional de Electricidad (electricity), 7.2%; LATAM Airlines, 5.5%; Banco Santander Chile (banking), 5.0%; Empresas CMPC (pulp and paper), 4.6%; Banco de Chile, 4.5%; Cencosud SA (retailer), 4.4%; and Quimica y Minera de Chile (mining), 3.9%.

The fund’s industry breakdown is: Utilities, 25.9%; Financials, 18.7%; Materials, 12.8%; Consumer Discretionary, 12.5%; Consumer Staples, 9.5%; Energy, 7.9%; Industrials, 7.8%; Telecommunications, 2.4%; and Information Technology, 2.0%.

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FORTIS INC. $38 (www.fortisinc.com) earned $14 million in the three months ended September 30, 2014, down 70.8% from $48 million a year earlier. Per-share earnings fell at a faster rate of 73.9%, to $0.06 from $0.23, on more shares outstanding. The drop is mainly due to unusual costs related to the company’s recent $4.5 billion U.S....

ISHARES MSCI GERMANY FUND $28.57 (New York symbol EWG; buy or sell through brokers) tracks the stocks in the MSCI Germany Index. This index aims to replicate 85% of the market capitalization of the German stock market. The remaining 15% is unavailable for investment, partly due to limitations on foreign ownership.

The ETF’s top holdings are Bayer (diversified chemicals), 10.2%; Siemens (engineering conglomerate), 7.9%; BASF (chemicals), 7.2%; Daimler (autos), 6.7%; Allianz (insurance), 6.5%; SAP (software), 5.5%; Deutsche Telekom, 4.5%; Deutsche Bank AG, 3.8%; BMW AG, 3.1%; and Volkswagen AG, 3.1%.

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ISHARES MSCI SOUTH KOREA INDEX FUND $56.34 (New York symbol EWY; buy or sell through brokers) aims to track the MSCI Korea Index.

The ETF’s top holdings are Samsung Electronics, 23.1%; SK Hynix Semiconductor, 4.5%; Hyundai Motor Co., 4.4%; Naver (Internet content), 3.5%; Posco (steel), 3.2%; Shinhan Financial, 3.1%; Hyundai Mobis (auto parts), 2.7%; Kia Motors, 2.4%; KB Financial, 2.3%; and Korea Electric Power, 1.9%.

The fund’s industry breakdown is as follows: Information Technology, 34.5%; Consumer Discretionary, 17.5%; Financials, 14.7%; Industrials, 12.3%; Materials, 8.6%; Consumer Staples, 6.5%; Utilities, 2.3%; Energy, 1.5%; Telecommunication Services, 1.3%; and Health Care, 0.8%.

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MOLSON COORS CANADA INC. (Toronto symbols TPX.A $85 and TPX.B $85; Conservative Growth and Income Portfolios, Consumer sector; Shares outstanding: 185.3 million; Market cap: $15.8 billion; Price-to-sales ratio: 3.3; Dividend yield: 2.0%; TSINetwork Rating: Average; www.molson coors.com) is the world’s fifth-largest brewer by production volume. Its main brands include Coors Light, Molson Canadian and Carling.

Overall beer consumption in North America has declined in the past few years, mainly because baby boomers are switching to wine and spirits.

Moving beyond North America

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ISHARES MSCI EMERGING MARKETS INDEX FUND $40.89 (New York symbol EEM; buy or sell through brokers) aims to track the MSCI Emerging Markets Index.

Its geographic breakdown includes China, 19.9%; South Korea, 14.1%; Taiwan, 12.1%; Brazil, 9.8%; South Africa, 8.0%; India, 7.1%; Mexico, 5.2%; Russia, 4.3%; Malaysia, 3.7%; Indonesia, 2.6%; Thailand, 2.5%; and Turkey, 1.8%.

The fund’s top holdings are Samsung Electronics (South Korea), 2.9%; Taiwan Semiconductor (computer chips), 2.8%; Tencent Holdings (China: Internet), 2.1%; China Mobile, 1.9%; Naspers (South Africa: media and Internet), 1.3%; China Construction Bank, 1.3%; Industrial & Commercial Bank of China, 1.2%; Itau Unibanco Holding (Brazil: banking), 1.1%; and America Movil (Mexico: wireless).

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ROYAL BANK OF CANADA $79 (Toronto symbol RY; Conservative Growth and Income Portfolios, Finance sector; Shares outstanding: 1.4 billion; Market cap: $110.6 billion; Price-to-sales ratio: 3.8; Dividend yield: 3.8%; TSINetwork Rating: Above Average; www.rbc.com) earned $2.3 billion in its fiscal 2014 fourth quarter, which ended October 31, 2014. That’s up 11.0% from $2.1 billion a year earlier. Per-share earnings rose 12.9%, to $1.57 from $1.39, on fewer shares outstanding. Revenue improved 5.8%, to $8.4 billion from $7.9 billion.

Earnings at Royal’s Canadian and U.S. retail banking division (which supplied 52% of the total) rose 7.6% on strong loan growth and higher fee-based income. The securities trading division (18% of total earnings) saw its profits fall 14.3% on lower trading volumes, and costs to comply with new U.S. securities regulations.

The bank’s wealth management division (13%) reported 41.1% higher earnings, mainly because rising stock prices increased the value of its assets under administration. Insurance earnings (12%) jumped 139.3%, mainly because a charge related to new Canadian tax laws depressed the year-earlier earnings. Without this charge, this business’s earnings rose 14% on fewer claims. The investor and treasury services business’s earnings (5%) gained 24.2%, thanks to higher deposit volumes and better efficiency.

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TORSTAR CORP. $6.14 (Toronto symbol TS.B; Conservative Growth and Income Portfolios, Consumer sector; Shares outstanding: 80.2 million; Market cap: $492.4 million; Price-to-sales ratio: 0.4; Dividend yield: 8.6%; TSINetwork Rating: Average; www.torstar.com) recently stopped publishing its Metro free daily commuter newspapers in seven smaller cities: Hamilton, Kitchener, London, Windsor, Regina, Saskatoon and Victoria. The company now plans to shut down the Metro websites in these cities.

This will let Torstar focus on Metro’s moreprofitable print and web editions in Halifax, Ottawa, Toronto, Winnipeg, Calgary, Edmonton and Vancouver.

Torstar is a buy.

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ENCANA CORP. $15 (Toronto symbol ECA; Conservative Growth Portfolio, Resources sector; Shares outstanding: 741.1 million; Market cap: $11.1 billion; Price-to-sales ratio: 1.6; Dividend yield: 2.1%; TSINetwork Rating: Average; www.encana.com) has completed its $7.1-billion U.S. purchase of Athlon Energy, which produces oil (80% of output) and gas (20%) in Texas’s Midland Basin.

The company will devote 80% of its 2015 capital spending to its oil properties, which would remain profitable even if oil declines to between $35 and $50 U.S. a barrel.

Encana is a buy.

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IMPERIAL OIL $53.20 (Toronto symbol IMO; Shares outstanding: 847.6 million; Market cap: $43.9 billion; TSINetwork Rating: Average; Div. yield: 1.0%; www.imperialoil.ca) has suspended production at its Kearl oil sands project in northern Alberta due to problems with a machine that separates bitumen (heavy oil) from sand.

Kearl produced 92,000 barrels a day in the third quarter of 2014, or 30% of Imperial’s total daily output of 307,000 barrels. Kearl’s second phase will add another 78,100 barrels per day to Imperial’s output in 2015.

The company expects to complete the repairs at Kearl in the next few weeks. Due to the recent drop in oil prices, the outage will have only a small impact on Imperial’s fourth-quarter earnings.

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IMPERIAL OIL LTD. $48 (Toronto symbol IMO; Conservative Growth and Income Portfolios, Shares outstanding: 847.6 million; Market cap: $40.7 billion; Price-to-sales ratio: 1.2; Dividend yield: 1.1%; TSINetwork Rating: Average; www.imperialoil.ca) has resumed production at its Kearl oil sands project in northern Alberta.

The company was forced to shut down Kearl due to problems with a machine that separates heavy oil from sand. In the third quarter, Kearl supplied 30% of Imperial’s daily output of 307,000 barrels.

The recent oil-price drop has cut the stock’s price by 17.2% from its August 2014 peak of $58. However, low crude prices will benefit Imperial’s refining and petrochemical operations, which supplied 43% of its earnings in the latest quarter. The company may also take advantage of low prices to pick up new properties at a bargain.

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ENERPLUS CORP. $14.89 (Toronto symbol ERF; Shares outstanding: 205.2 million; Market cap: $3.1 billion; TSINetwork Rating: Extra Risk; Dividend yield: 7.6%) produces an average of 104,035 barrels of oil equivalent a day (58% gas and 42% oil). The company’s properties are mainly in Alberta, Saskatchewan, B.C., North Dakota and Montana, as well as the Marcellus shale, which passes through Pennsylvania, New York, Ohio and West Virginia.

In the quarter ended September 30, 2014, Enerplus’s production rose 18.6% from a year earlier. Cash flow per share gained just 6.1%, to $1.04 from $0.98, as it realized lower prices for its oil.

Enerplus plans to spend $830 million on exploration and development for all of 2014 and about the same amount next year. By the end of 2015, it aims to produce over 111,000 barrels a day.

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POTASH CORP. OF SASKATCHEWAN $40 (Toronto symbol POT; Aggressive Growth Portfolio, Resources sector; Shares outstanding: 829.7 million; Market cap: $33.2 billion; Price-to-sales ratio: 5.4; Dividend yield: 4.0%; TSINetwork Rating: Average; www.potashcorp.com) gets 40% of its revenue and 50% of its earnings from potash, followed by nitrogen (35%, 40%) and phosphate (25%, 10%) fertilizers.

The company sold its potash for an average of $281 U.S. a tonne in the third quarter of 2014, down 8.5% from $307 U.S. a year earlier.

It now expects to sell 9.0 million to 9.2 million tonnes of potash for all of 2014, up from 8.1 million in 2013. However, lower selling prices will cut its earnings to a projected $1.80 U.S. a share from $2.09 U.S. The stock trades at a somewhat high 19.3 times the 2014 estimate. The $1.40 U.S. dividend yields 4.0%.

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AGRIUM INC. $109 (Toronto symbol AGU; Aggressive Growth Portfolio, Resources sector; Shares outstanding: 143.7 million; Market cap: $15.7 billion; Price-to-sales ratio: 1.0; Dividend yield 3.3%; TSINetwork Rating: Average; www.agrium.com) gets just 3% of its revenue from potash, so the Russian mine shutdown will have little impact on its short-term earnings.

Agrium’s 1,400 retail stores supply 78% of its revenue. Nitrogen fertilizers it manufactures from natural gas provide the remaining 19%.

Equipment failures have forced the company to shut down its Vanscoy potash mine in Saskatchewan. Agrium is taking advantage of this outage to increase this project’s capacity by 40%.

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CRESCENT POINT ENERGY CORP. $29.65 (Toronto symbol CPG; Shares outstanding: 443.3 million; Market cap: $13.2 billion; TSINetwork Rating: Extra Risk; Dividend yield: 9.3%; www.crescentpointenergy.com) produces oil and natural gas in Western Canada, with a focus on its Bakken light oil development in southeastern Saskatchewan. Its output is 91% oil and 9% gas.

In the three months ended September 30, 2014, Crescent Point’s cash flow rose 11.6%, to $618.4 million from $554.1 million a year earlier.

The company raised its daily output by 19.7%, to 141,183 barrels of oil equivalent from 117,963. That, plus higher oil and gas prices, was the main reason for the rising cash flow. Cash flow per share rose at a slower rate of 2.1%, to $1.45 from $1.42, because Crescent Point issued shares to pay for acquisitions.

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Every Monday we feature “A Stock to Sell” as our daily post. With every stock or investment we recommend as a sell, we give you a full explanation of why we advise against investing in it at this time.

Otter Tail Corporation (symbol OTTR on Nasdaq; www.ottertail.com) is the parent of Otter Tail Power Company, which supplies electricity to over 130,000 customers. Otter Tail Corporation also has manufacturing, plastics and construction operations.

Otter Tail Power Company’s customers are in a 50,000-square-mile area that covers parts of Minnesota (48% of electrical revenue), North Dakota (43%) and South Dakota (9%). Commercial and farm clients supply 37% of electrical revenue, followed by residential (33%), industrial (23%) and other (7%).

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LOBLAW COMPANIES $60.00 (Toronto symbol L; Shares outstanding: 412.7 million; Market cap: $25.2 billion; TSINetwork Rating: Above Average; Dividend yield: 1.6%; www.loblaw.ca) is Canada’s largest food retailer, with about 1,200 stores. Its banners include Loblaws, Provigo, Fortinos, Real Canadian Superstore and No Frills. George Weston Ltd. owns 46% of the company.

Loblaw completed its acquisition of the Shoppers Drug Mart chain in March 2014. It paid $12.3 billion: $6.6 billion in cash and $5.7 billion in Loblaw common shares.

In the quarter ended October 4, 2014, Loblaw’s sales rose 35.9%, to $13.6 billion from $10.0 billion a year earlier. Without Shoppers’ contribution, sales rose 2.0%. Before one-time items, Loblaw’s earnings gained 23.3%, to $0.90 a share from $0.73.

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