Updating Nova Chemicals Corp., Legacy Hotels Real Estate Investment Trust, Great-West Lifeco Inc. and Loblaw Companies Ltd.

Article Excerpt

NOVA CHEMICALS CORP. $37 (Toronto symbol NCX; Conservative Growth Portfolio, Manufacturing & Industry sector; SI Rating: Extra risk) lost $0.06 a share in the three months ended March 31, 2006, mostly due to problems restarting a plastics plant in Ontario after an upgrade (all amounts except share price in U.S. dollars). It earned $1.06 a year earlier. Revenue grew 4.0%, to $1.55 billion from $1.49 billion. Demand for Nova’s plastics should improve this year, as customer inventories fall. The stock is cheap at just 7.5 times the $4.50 U.S. a share it should earn in 2006. Nova Chemicals is a buy. LEGACY HOTELS REAL ESTATE INVESTMENT TRUST $7.93 (Toronto symbol LGY.UN; Aggressive Growth Portfolio, Manufacturing & Industry sector; SI Rating: Extra risk) cut its losses in the first three months of 2006, to $0.27 a unit from $0.35 a year earlier. Legacy typically loses money in the first quarter, as most people prefer to travel in the summer months. However, revenue improved 10.3%, to…

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