EARNINGS AHEAD: CDN COMPANIES EXPECTED TO REPORT ON FEB. 9
Bloomberg News
Feb 8 1999 3:09PM ET
Toronto, Feb. 8 (Bloomberg) -- Bloomberg News expects the following
companies to report earnings on Feb. 9 Company Name Ticker Barrick
Gold Corp. ABX CN Boliden Ltd. BOL CN Brookfield Properties Corp. BPC
CN Celestica Inc. CLS CN Noranda Inc. NOR CN Westaim Corp. WED CN
--Toronto newsroom, (416) 364-7300 Category news: Calendars: NI ERN
Earnings CAL All calendars NI EST Earnings estimates NI CAL For
stories on Canadian company earnings, TNI CANDA ERN -0- (BN )
Feb/08/1999 15:09
Too bad i didn't see this one before:
Celestica Shares Plunge After SCI Warns of Low Profit (Update1)
Bloomberg News
Feb 5 1999 4:37PM ET
Celestica Shares Plunge After SCI Warns of Low Profit (Update1)
(Updates with closing prices.)
Toronto, Feb. 5 (Bloomberg) -- Celestica Inc. shares plunged after
rival SCI Systems Inc., the largest contract maker of electronics for
computers, said its fiscal third- and fourth- quarter earnings would
not meet analysts estimates.
The Toronto-based circuit board-maker fell C$3.50 (US$2.35), or 7.5
percent, to C$43, its biggest one-day drop since August 27 when it
plummeted 11 percent. Almost 940,000 shares were traded, over four
times the three-month daily average.
''Electronics companies tend to move as a group, and Celestica is
falling in sympathy with SCI,'' said Todd Coupland, an analyst at CIBC
Wood Gundy. ''Fundamentally Celestica's business is in good shape, and
earnings are expected to be on track.'' Coupland rates the stock a ''strong buy.''
Celestica fell after Huntsville, Alabama-based SCI said it expects to
earn US$0.50 a share in the quarter ending in March, and US$0.57 in
the following quarter. It was expected to earn US$0.61 and US$0.69 in
those quarters, the average estimate of analysts polled by First Call
Corp.
SCI's biggest customer, Hewlett-Packard Co., lost market share to
Compaq Computer Corp. and Dell Computer Corp., analysts said.
Solectron Corp. of Milipitas, California also fell after the SCI
announcement.
Celestica is among Scotia Capital Markets' list of the top 10 Canadian
stocks in 1999 chosen by portfolio strategist John McColl. --Maya
Teleki in the Toronto newsroom (416) 364-7300\mc Story illustration:
To graph the recent performance of Celestica shares, type CLS CN
MArc |
