Updating Nova Chemicals Corp., Bombardier Inc., CAE Inc., and Bank of Nova Scotia

Article Excerpt

NOVA CHEMICALS CORP. $37 (Toronto symbol NCX; Conservative Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 82.6 million; Market cap: $3.1 billion; SI Rating: Extra risk) lost $9.46 a share (total $781 million) in the fourth quarter of 2006, mostly due to a $772 million after-tax restructuring charge (all amounts except share price in U.S. dollars). It lost $0.80 a share ($66 million) in the year-earlier quarter. Revenue rose 14.3%, to $1.6 billion from $1.4 billion. Nova is making good progress with its restructuring plan. It has already cut $127 million out of its annual costs, and should save $140 million a year by 2008. Nova Chemicals is a buy. BOMBARDIER INC. (Toronto symbols BBD.A $4.44 and BBD.B $4.45; Aggressive Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 1.7 billion; Market cap: $7.6 billion; SI Rating: Extra risk) has won a multi-year, $1.6 billion U.S. contract to supply 321 electric trains to a German railway. That’s about 10% of Bombardier’s annual revenues. The company…

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