dividends paid

BELLATRIX EXPLORATION $3.50 (Toronto symbol BXE; TSINetwork Rating: Speculative) (403-266-8670; www.bellatrixexploration.com; Shares outstanding: 191.5 million; Market cap: $735.5 million; No dividends paid) will cut its 2015 exploration and development spending by 33.3%, to $200 million from $300 million in 2014, in response to low oil and gas prices.

However, Bellatrix can still draw on $85 million from its joint venture partners, bringing total spending to $285 million this year.

As a result of the spending cut, the company now expects to produce an average of 43,000 to 44,000 barrels of oil equivalent a day in 2015. That’s down from its original forecast of 47,000 to 48,000 but about 14% higher than its 2014 average production of 38,100 barrels a day.

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VISA INC. $246 (New York symbol V; Conservative Growth Portfolio, Finance sector; Shares outstanding: 618.3 million; Market cap: $152.1 billion; Price-to-sales ratio: 12.5; Dividend yield: 0.8%; TSINetwork Rating: Above Average; www.visa.com) gets most of its revenue from fees it charges card issuers and merchants for using its network. It bases its fees on payment volume and transactions processed, among other factors. The banks that issue the cards are responsible for evaluating customer creditworthiness and collecting payments, not Visa. The company continues to profit as more people shop online, and debit cards are quickly replacing cash for smaller transactions. Meanwhile, the U.S. Supreme Court recently refused to hear an appeal of a class-action lawsuit by retailers seeking to lower the fees credit card companies charge. That cuts Visa’s risk....

AEROPOSTALE INC. $2.78 (New York symbol ARO; TSINetwork Rating: Extra Risk) (646-485-5410; www.aeropostale.com; Shares outstanding: 79.1 million; Market cap: $220.0 million; No dividends paid) has risen over 20% since the clothing retailer said in early January 2015 that it expects to report a much smaller than expected loss in its 2014 fourth quarter. The company now expects a fourthquarter loss of $0.25 to $0.31 share, compared to its earlier forecast of a $0.44-ashare loss. It has been cutting costs and selling more high-profit-margin clothing. Aeropostale continues to face intense competition from other teen-clothing retailers. To restore its profitability, it plans to better market its products and keep cutting costs and refreshing its clothing lines. It’s also closing underperforming stores....

CHIPOTLE MEXICAN GRILL $703.89 (New York symbol CMG; TSINetwork Rating: Speculative) (303-595-4000; www.chipotle.com; Shares outstanding: 31.0 million; Market cap: $21.8 billion; No dividends paid) halted sales of pork items at one-third of its nearly 1,800 U.S. restaurants in mid-January 2015. That’s because it learned that a key supplier had failed to meet Chipotle’s humane pig-housing standards. The company uses pork in around 7% of the burritos, tacos, bowls and salads it sells. Chipotle believes most customers will simply substitute pork with other meats on the menu, but some may go elsewhere....

BLACKBERRY LTD. $15 (Toronto symbol BB; Aggressive Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 528.5 million; Market cap: $7.9 billion; Price-to-sales ratio: 1.7; No dividends paid; TSINetwork Rating: Speculative; www.blackberry.com) lost $148 million, or $0.28 a share, in its fiscal 2015 third quarter, which ended November 29, 2014 (all amounts except share price and market cap in U.S. dollars). A year earlier, it lost $4.4 billion, or $8.37 a share.

Excluding writedowns and other unusual items, BlackBerry earned $0.01 a share in the latest quarter, unchanged from a year earlier.

Revenue fell 33.5%, to $793 million from $1.2 billion. In the latest quarter, 46% of total revenue came from hardware sales, 46% from communication services and 8% from software. BlackBerry ended the quarter with cash of $3.1 billion, or $5.88 a share. Its long-term debt of $1.7 billion is equal to 26% of its market cap.

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BLACKBERRY LTD. $15 (Toronto symbol BB; Aggressive Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 528.5 million; Market cap: $7.9 billion; Price-to-sales ratio: 1.7; No dividends paid; TSINetwork Rating: Speculative; www.blackberry.com) lost $148 million, or $0.28 a share, in its fiscal 2015 third quarter, which ended November 29, 2014 (all amounts except share price and market cap in U.S. dollars). A year earlier, it lost $4.4 billion, or $8.37 a share. Excluding writedowns and other unusual items, BlackBerry earned $0.01 a share in the latest quarter, unchanged from a year earlier. Revenue fell 33.5%, to $793 million from $1.2 billion. In the latest quarter, 46% of total revenue came from hardware sales, 46% from communication services and 8% from software. BlackBerry ended the quarter with cash of $3.1 billion, or $5.88 a share. Its long-term debt of $1.7 billion is equal to 26% of its market cap....

VISA INC. $246 (New York symbol V; Conservative Growth Portfolio, Finance sector; Shares outstanding: 618.3 million; Market cap: $152.1 billion; Price-to-sales ratio: 12.5; Dividend yield: 0.8%; TSINetwork Rating: Above Average; www.visa.com) gets most of its revenue from fees it charges card issuers and merchants for using its network. It bases its fees on payment volume and transactions processed, among other factors. The banks that issue the cards are responsible for evaluating customer creditworthiness and collecting payments, not Visa.

The company continues to profit as more people shop online, and debit cards are quickly replacing cash for smaller transactions.

Meanwhile, the U.S. Supreme Court recently refused to hear an appeal of a class-action lawsuit by retailers seeking to lower the fees credit card companies charge. That cuts Visa’s risk.

...

CHIPOTLE MEXICAN GRILL $703.89 (New York symbol CMG; TSINetwork Rating: Speculative) (303-595-4000; www.chipotle.com; Shares outstanding: 31.0 million; Market cap: $21.8 billion; No dividends paid) halted sales of pork items at one-third of its nearly 1,800 U.S. restaurants in mid-January 2015. That’s because it learned that a key supplier had failed to meet Chipotle’s humane pig-housing standards.

The company uses pork in around 7% of the burritos, tacos, bowls and salads it sells.

Chipotle believes most customers will simply substitute pork with other meats on the menu, but some may go elsewhere.

...

AEROPOSTALE INC. $2.78 (New York symbol ARO; TSINetwork Rating: Extra Risk)(646-485-5410; www.aeropostale.com; Shares outstanding: 79.1 million; Market cap: $220.0 million; No dividends paid) has risen over 20% since the clothing retailer said in early January 2015 that it expects to report a much smaller than expected loss in its 2014 fourth quarter.

The company now expects a fourthquarter loss of $0.25 to $0.31 share, compared to its earlier forecast of a $0.44-ashare loss. It has been cutting costs and selling more high-profit-margin clothing.

Aeropostale continues to face intense competition from other teen-clothing retailers. To restore its profitability, it plans to better market its products and keep cutting costs and refreshing its clothing lines. It’s also closing underperforming stores.

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BIRCHCLIFF ENERGY $9.05 (Toronto symbol BIR; TSINetwork Rating: Speculative) (403-261-6401; www.birchcliffenergy.com; Shares outstanding: 152.2 million; Market cap: $1.4 billion; No dividends paid) develops, produces and explores for oil and gas, mainly in the Peace River Arch area near the Alberta/B.C. border. About 84% of its output is gas. The remaining 16% is oil. In the three months ended September 30, 2014, Birchcliff’s production rose 38.8%, to 34,235 barrels of oil equivalent a day from 24,662 a year earlier. Cash flow per share jumped 66.7%, to $0.50 from $0.30, on the increased output and higher gas prices. Birchcliff recently completed Phase 4 of its gasplant expansion in Pouce Coupe, Alberta. That raised the facility’s capacity by 20% and will let Birchcliff bring the additional gas it is now producing to market....