Updating BCE Inc., Royal Bank of Canada and Pengrowth Energy Trust

Article Excerpt

BCE INC. $33 (www.bce.ca) earned $621 million before unusual items in the three months ended September 30, 2010, down 4.3% from $649 million a year earlier. Because of fewer shares outstanding, earnings per share fell 2.4%, to $0.82 from $0.84. The company had a lower tax bill in the year-earlier period. This was the main reason behind the lower earnings. Best Buy. ROYAL BANK OF CANADA $54 (www.rbc.com) continues to expand in Asia. It recently paid an undisclosed sum for the Hong Kong-based wealth management business of Belgium bank BNP Paribus Fortis. This purchase will help Royal profit from China’s growing middle class, who are preparing for retirement. Buy. PENGROWTH ENERGY TRUST $12 (www.pengrowth.com) saw its cash flow per share fall 14.3% in the latest quarter, to $0.54 from $0.63 a year earlier. That’s because unusually wet weather cut its combined oil and natural-gas production by 3.7%. Buy. Buy…

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