dividends paid

YAMANA GOLD $16.36 (Toronto symbol YRI; TSINetwork Rating: Speculative) (416-815-0220; www.yamana.com; Shares outstanding: 746.0 million; Market cap: $12.2 billion; Dividend yield: 1.3%) owns seven operating gold mines in Mexico, Brazil, Chile and Argentina. It also holds a 12.5% stake in the Alumbrera copper/gold mine in Argentina, and has three other properties in advanced stages of development. In the quarter ended March 31, 2012, Yamana’s revenue rose 17.6%, to $559.7 million from $476.1 million a year earlier (all figures except share price and market cap in U.S. dollars). The company increased its production and benefited from higher gold prices. Earnings per share rose 19.0%, to $0.25 from $0.21. Yamana held a high cash balance of $867.6 million, or $1.16 a share, on March 31. Its $766.0 million of debt is just 6.3% of its market cap. Thanks to the improved results, the company is raising its quarterly dividend by 18.2% with the July 2012 payment, to $0.065 from $0.055. The shares now yield 1.3%....

CHESAPEAKE ENERGY $19.04 (New York symbol CHK; TSINetwork Rating: Extra Risk) (405-848 -8000; www.chkenergy.com; Shares outstanding: 662.3 million; Market cap: $12.6 billion; Dividend yield: 1.8%) has moved up from its low of $13.32 in mid-May. That’s mainly because activist investor Carl Icahn has gotten involved in the company’s restructuring. Icahn, who has a long history of pushing companies to make changes that increase shareholder value, has acquired a 7.6% stake in Chesapeake. Pressure from Icahn has already prompted Chesapeake to announce that it will replace four of its eight board members with nominees of its largest shareholders—Icahn and Southeastern Asset Management Inc., which holds a 13.6% stake. Icahn now plans to push for cost-cutting measures and a more conservative approach to spending. His proposals will likely include cutting drilling budgets and selling certain pipelines and gas-processing plants....

NCR CORP. $21 (New York symbol NCR; Aggressive Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 158.8 million; Market cap: $3.3 billion; Price-to-sales ratio: 0.6; No dividends paid; TSINetwork Rating: Average; www.ncr.com) has paid an undisclosed sum for three Brazilian firms that make cash registers and other point-of-sale equipment for restaurants.

These purchases should help NCR increase its share of this market, which is growing by 10% a year. Restaurant spending should also keep rising in Brazil, particularly because the country is hosting the 2014 FIFA World Cup and the 2016 Summer Olympics.

NCR is a buy.

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GOODYEAR TIRE & RUBBER CO. $11.65 (New York symbol GT; TSINetwork Rating: Extra Risk) (330 -796-2122; www.goodyear.com; Shares outstanding: 244.7 million; Market cap: $2.9 billion; No dividends paid) has announced a major expansion of its global off-the-road (OTR) tire business: The company has acquired 100% of its Nippon Giant Tire subsidiary in Japan. (OTR tires are used for heavy equipment.)

Goodyear now plans to spend $250 million to upgrade and expand Nippon Giant Tire’s manufacturing facility. When these improvements are completed, the plant will be able to make a complete line of 57-inch tires, as well as 63-inch tires at a future date.

OTR tire demand is growing rapidly in the mining and road construction industries, and this expansion will let Goodyear tap into that growth. It will also help the company grow further in the Asia-Pacific region, primarily in Australia, which is one of the world’s largest markets for OTR tires.

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NEW GOLD $10.16 (Toronto symbol NGD; TSINetwork Rating: Speculative) (888-315-9715; www.newgold.com; Shares outstanding: 461.7 million; Market cap: $4.7 billion; No dividends paid) has three operating mines: the Mesquite mine in the U.S., the Cerro San Pedro mine in Mexico and the Peak mine in Australia. It also owns 30% of the El Morro copper/gold project in Chile (Goldcorp owns the other 70%) and 100% of the New Afton gold/copper/silver project in B.C.

El Morro contains an estimated 4.7 million ounces of gold and 3.7 billion pounds of copper. New Afton holds 2.7 million ounces of gold, 2.5 billion pounds of copper and 8.3 million ounces of silver.

New Gold also owns the Blackwater property in central B.C., which could hold as much as 7.8 million ounces of gold.

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FORTRESS PAPER $19.87 (Toronto symbol FTP; TSINetwork Rating: Extra Risk) (1-888-820-3888; www.fortresspaper.com; Shares outstanding: 14.3 million; Market cap: $284.1 million; No dividends paid) has moved up over 20% since early June, mostly on a couple of positive developments.

First, Fortress’s facility in Thurso, Quebec, which it bought in early 2010, is now operating at 92% capacity. The pulp is meeting customer specifications, and shipments to China are increasing.

Second, the company’s Landqart banknote division in Switzerland has announced that a customer has reinstated a significant order that had been postponed. That should take up the excess capacity at the plant.

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ADOBE SYSTEMS $31.99 (Nasdaq symbol ADBE; TSINetwork Rating: Average) (408-536-6000; www.adobe.com; Shares outstanding: 496.1 million; Market cap: $15.9 billion; No dividends paid) makes software that lets computer users create, edit and share documents in the popular PDF format. As well, graphic designers use its software to create print publications and web pages.

The company also makes Adobe Flash, which lets website developers make their pages more interactive by adding animation and video. Around 98% of the world’s computers have Flash installed on them.

Last year, Adobe stopped making Flash for smartphones and other mobile devices. Instead, it’s focusing on developing products that are based on the newer HTML5 Internet standard.

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CGI GROUP INC. $21 (Toronto symbol GIB.A; Aggressive Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 258.5 million; Market cap: $5.4 billion; Price-to-sales ratio: 1.3; No dividends paid; TSINetwork Rating: Extra Risk; www.cgi.com) gets about 11% of its revenue from clients in the health care industry. The company mainly helps these customers convert patient records to electronic formats and audit Medicare and Medicaid claims in the U.S.

The company’s health-care-related revenue could suffer if the U.S. Supreme Court overturns Obamacare, as recent changes to the American health care system are known. Even so, CGI’s long-term outlook remains bright, because its services help its clients cut their costs and improve efficiency.

CGI Group is a buy.

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GOOGLE INC. $609 (Nasdaq symbol GOOG; Aggressive Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 326.0 million; Market cap: $198.5 billion; Price-to-sales ratio: 4.9; No dividends paid; TSINetwork Rating: Above Average; www.google.com) has completed its $12.5-billion purchase of cellphone maker Motorola Mobility Holdings Inc. (New York symbol MMI). Owning Motorola gives Google access to patents that it can use to defend itself against lawsuits from other mobile phone makers. It will also make it easier for Google to integrate its popular Android operating system with new smartphones and tablet computers. Google is a buy.

GOOGLE INC. $609 (Nasdaq symbol GOOG; Aggressive Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 326.0 million; Market cap: $198.5 billion; Price-to-sales ratio: 4.9; No dividends paid; TSINetwork Rating: Above Average; www.google.com) has completed its $12.5-billion purchase of cellphone maker Motorola Mobility Holdings Inc. (New York symbol MMI).

Owning Motorola gives Google access to patents that it can use to defend itself against lawsuits from other mobile phone makers. It will also make it easier for Google to integrate its popular Android operating system with new smartphones and tablet computers.

Google is a buy.

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