TSX News: Manulife Financial, BCE, CP, Gildan, TMX, Meadow Bay Gold and more
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.
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.
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.
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.
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.
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.
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.
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.