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Market: TSX
Sector: General Mining
EPIC: TSXC
Latest Price: 12,613.00  (0,00%)
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TSX News: Manulife Financial, BCE, CP, Gildan, TMX, Meadow Bay Gold and more

3rd May 2012, 3:45 pm by Proactiveinvestors
TSX News: Manulife Financial, BCE, CP, Gildan, TMX, Meadow Bay Gold and more

Manulife Financial Corp. (TSE:MFC) Thursday posted a 22 percent jump in earnings on a number of special items as well as strong operational performance in Canada and Asia.

For the first three months of 2012, the Canadian life insurance and financial services giant posted a profit of $1.2 billion, or 66 cents per share, up from 54 cents per share or $985 million in the first quarter of 2011.

BCE (TSE:BCE) (NYSE:BCE) said Thursday its first quarter earnings were up 14 percent on the back of its wireless operations and media division.

For the three months that ended March 31, the Canadian telecommunications giant posted net income of $574 million, or 74 cents per share, up 14.1 percent from $503 million, or 67 cents per share, a year ago.

Canadian Pacific (TSE:CP)(NYSE:CP) shareholders are being advised to reject several board nominees at this year’s annual general meeting by proxy advisory firm Institutional Shareholder Services.

Gildan Activewear (NYSE:GIL)(TSE:GIL) agreed to acquire sport shirts maker Anvil Holdings on Thursday in a deal pegged at $88 million, and also reported a drop in second-quarter profit.

Drug maker Valeant Pharmaceuticals (NYSE:VRX)(TSE:VRX) swung to a loss of $12.9 million, or four cents a share, for the latest period that ended March 31. That is down from a profit of $6.4 million, or two cents a share, a year earlier.

TMX Group's (TSE:x) takeover by the Maple Group consortium has cleared a hurdle Thursday as securities regulators in Ontario and Quebec released their proposed conditions for the deal.

Stella-Jones (TSE:SJ) reported a 21.7 percent rise in its first quarter profits on Thursday, beating analyst estimates, as the company's revenues increased largely on demand for its railway tie and utility pole products.

Meadow Bay Gold (TSE:MAY)(OTCQX:MAYGF) Thursday received assay results from its Atlanta Gold Mine project in Lincoln County, Nevada.

Assay results from two of the remaining holes were significant. Hole DHRC-11-RCN04 tested the central portion of the Atlanta porphyry and encountered 2.77 grams per tonne (g/t) gold and 9.4 g/t silver over 21.34 metres.

Engineering and construction group SNC-Lavalin (TSE:SNC) Thursday said first quarter earnings fell from the same period last year, though it maintained its outlook for 2012.

For the quarter that ended March 31, net income fell to $67.1 million, or 44 cents per share, compared to $76.1 million, or 50 cents per share for the first quarter of 2011.

Oilfield service provider Flint Energy Services (TSE:FES) swung to a first-quarter profit on Thursday as strong sales were helped by increased drilling activity in Canada and the U.S.

The company swung to a profit of $15.5 million, or 32 cents a share, for the latest period that ended March 31. This compared with a net loss of $4.5 million, or 10 cents a share, a year earlier.

Pharmacy chain The Jean Coutu Group (TSE:PJC.A) said fourth-quarter earnings jumped 33 percent thanks to an extra week of shopping and strong operational performance.

Earnings grew to $62 million, or 28 cents a share, for the 14-week period ended March 3. That is up from the $46.5 million, or 20 cents a share, a year-ago.

Black Iron (TSE:BKI) said late Wednesday that assay results from three additional infill drill holes at its Shymanivske project in Ukraine continue to confirm iron content and band lengths in the mineral resource.

The iron ore explorer said that hole BISH-3 intersected 97.0 metres grading 33.1% iron, including 55.0 metres at 34.7% iron.

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