Updating Torstar Corp., Precision Drilling Corp., and Bombardier Inc.

Article Excerpt

TORSTAR CORP. $1.20 (www.torstar.com) has agreed to merge its eight employee registered defined-benefit pension plans with the larger Colleges of Applied Arts & Technology Pension Plan. That plan covers 42 participating employers, and has $11 billion in assets under administration. Transferring the Torstar plans to this larger organization should reduce the company’s future pension contributions. Torstar is also cutting staff at its StarMetro commuter newspaper as it shifts that paper’s offices to Hamilton, Ontario. Hold. PRECISION DRILLING CORP. $4.73 (www.precisiondrilling.com) has gained 10% since the start of 2018. That’s mainly because rising oil prices have spurred demand for its contract drilling services. The company is also applying its extra cash flow to pay down its long-term debt of $1.8 billion. That’s a high 1.3 times its market cap of $1.4 billion. Buy. BOMBARDIER INC. $5.50 (www.bombardier.com) has completed its joint venture with European aircraft maker Airbus SE. Under the terms of the agreement, Bombardier contributed its CSeries passenger jet plane operations to the joint venture. Airbus now owns 50.01% of that business,…