A Good Time to Buy This Cyclical

NOVA CHEMICALS CORP. $33 (Toronto symbol NCX; Conservative Growth Portfolio, Manufacturing & Industry sector; SI Rating: Extra risk) has moved down in the past few months, mostly due to fears that a slowdown in the economy will hurt plastic prices. Nova also had to temporarily… Read More

Updating Dofasco Inc., Fairmont Hotels & Resorts, Inc., Toronto-Dominion Bank, Nova Chemicals Corp., Sleeman Breweries Ltd., Nortel Corp. and FPI Ltd.

DOFASCO INC. $71 (Toronto symbol DFS; SI Rating: Average) has accepted a $71.00-a-share takeover offer from Arcelor SA after rival bidder ThyssenKrupp AG decided not to match Arcelor’s offer. However, UK-based Mittal Steel Co. has launched a hostile takeover for Arcelor. Mittal’s bid for Arcelor… Read More

This Cyclical Has Special Appeal

NOVA CHEMICALS CORP. $44 (Toronto symbol NCX; SI Rating: Extra risk) makes two types of industrial plastics. Ethylene/polyethylene, which accounts for 60% of its revenues, is used to make a variety of products such as packaging, plastic bags, appliances, electronics and plastic pipe. The other… Read More