Monday, May 14, 2007

Canadian Pacific, HudBay Minerals, Magna: Canada Equity Preview

The following is a list of companies whose shares may have unusual price changes in Canadian markets today. This preview includes news that broke after markets closed on May 11. Symbols are in parentheses after company names and prices are from the last close.

The Standard & Poor's/TSX Composite Index on May 11 rose 150.69, or 1.1 percent, to a record 14,003.82 in Toronto.

Canadian Pacific Railway Ltd. (CP CN): The nation's second- biggest railroad said that its maintenance workers are poised to walk off the job on Wednesday. The Calgary-based company is deploying managers to maintain services during the strike, according to a statement released on the CNS news wire. The shares gained C$1.20, or 1.7 percent, to C$74.09

HudBay Minerals Inc. (HBM CN): The zinc miner was downgraded to ``neutral'' from ``buy'' by analyst Tony Lesiak at UBS. The shares lost 42 cents, or 1.6 percent, to C$25.55.

Magna International Inc. (MG/A CN): Canada's biggest car- parts maker was unsuccessful in its bid with partner Onex Corp. (OCX CN) for DaimlerChrysler AG's money-losing Chrysler unit. Private-equity firm Cerberus Capital Management LP will buy 80.1 percent of Chrysler for $7.4 billion, DaimlerChrysler said today in a statement.

Magna shares fell 15 cents, or 0.2 percent, to C$93.50. Onex gained C$1.16, or 3 percent, to C$40.01.

To contact the reporter on this story: John Kipphoff in Toronto at

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