Updating CIBC, CAE Inc. and Canada Bread

Article Excerpt

CANADIAN IMPERIAL BANK OF COMMERCE $77 (www.cibc.com) earned $2.06 a share in the three months ended July 31, 2012. That’s up 6.7% from $1.93 a year earlier. Loan demand remained strong in Canada, and profits rose at the bank’s wealth management and capital markets divisions. The strong results prompted CIBC to raise its quarterly dividend by 4.4%, to $0.94 a share from $0.90. The new annual rate of $3.76 a share yields 4.9%. Buy. CAE INC. $10 (www.cae.com) has won contracts to build flight simulators and upgrade other pilot training equipment for military clients in the U.K., India and Oman. In all, these deals are worth $55 million. That’s equal to 3% of CAE’s annual revenue of $1.9 billion. Best Buy. CANADA BREAD CO. LTD. $44 (www.canadabread.ca) reported that its sales fell 0.3% in the three months ended June 30, 2012, to $404.9 million from $406.2 million a year earlier. That’s mainly because it closed an older bakery in Toronto as part…