Canadian issues that are moving on early news.
US Airways has renewed its agreement with GuestLogix Inc. The multi-year contract renewal, representing more than 50 million passenger-trips annually, will expand the relationship between US Airways and GuestLogix. GXI rose 1 per cent to 45 cents yesterday.
Specialty pharmaceutical company Nuvo Research Inc. said that the Development Bank of Saxony (SAB) in Germany has agreed to provide Nuvo with up to €4.4-million of funding for the further development of its improved reformulated version of WF10.
Ballard Power Systems announced that it has signed an agreement to acquire key assets from IdaTech, including the company’s fuel cell product lines for backup power applications, distributor and customer relationships, as well as a license for intellectual property.
Norbord Inc. recorded earnings of $6-million U.S. or 14 cents per share in the second quarter of 2012 compared to earnings of $1-million or 3 cents per share in the same quarter last year and break even earnings in the prior quarter. Earnings in the second quarter of 2011 included a $7-million or 16 cents per share income tax recovery due to the recognition of a non recurring income tax benefit. Excluding the impact of this non recurring item, the loss in the second quarter of 2011 was $6-million or 14 cents per share.
OceanaGold Corp., which gained more than 4 per cent on Wednesday, reported second-quarter EBITDA of $25.6-million, a 10 per cent increase on the previous quarter. The company also reported a 10 per cent increase in gold production over the first quarter, with 55,709 ounces produced.
Cervus Equipment Corp. announced that it has entered into purchase and sales agreements with Bayquip Agricultural Limited and Fieldpower Northland Limited to acquire a total of five John Deere dealership branches in New Zealand. Cervus also announced that it has signed a memorandum of understanding to acquire all of the remaining shares of Agriturf Limited that it does not already own.
Exco Technologies Ltd. said consolidated net income for the third quarter was $5.5-million or $0.14 per share compared to consolidated net income of $3.7-million or $0.09 per share last year. It announced a quarterly dividend of $0.0375 per common share which will be paid on Sept. 28, 2012 to shareholders of record on Sept. 14, 2012.
Pasinex Resources Ltd. announced that the company has signed an option agreement with Eurasian Minerals Inc., whereby Pasinex can acquire a 100 per cent-interest in the Golcuk Property located in northeast Turkey.
RDM Corporation said net income was $728,000 U.S. or $0.03 per share in the third quarter of 2012, compared to $151,000 or $0.01 per share in the third quarter of 2011, and $242,000 or $0.01 per share in the prior quarter.
Opta Minerals Inc. and WGI Heavy Minerals Incorporated, which is trading at year highs, jointly announced that Opta Minerals has formally commenced its offer to acquire all of the outstanding common shares of WGI for $0.60 in cash per share.