Investor Alert

March 15, 2012, 8:56 a.m. EDT

Canada hot stocks to watch: BCE, Telus, Rogers

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TORONTO (MarketWatch) -- Listed below are the stocks expected to move during Thursday's trading session. They are listed with Wednesday's closing prices.

The Canadian government said it will lift foreign-ownership rules for telecommunications companies with less than 10% market share and place limits on the amount of coveted wireless spectrum incumbents can bid for in upcoming auction. The changes create uncertainty for the incumbents, which include BCE Inc. (BCE, C$40.18, -C$0.62, -1.5%), Telus Corp. (TU, C$57.19, -C$0.82, -1.4%) and Rogers Communications Inc. (RCI, C$38.77, -C$0.61, -1.6%).

Fairborne Energy Ltd. (FEL.T, C$2.32, -C$0.05, -2.1%) said it has initiated a strategic-review process and its board has set up a special committee to help oversee the process. The company has a market cap of about C$240 million.

Birchcliff Energy Ltd. (BIR.T , C$9.83, -C$0.33, -3.3%) said the corporate-sale process it initiated in October is continuing. It said it hasn't entered into an acquisition agreement with any party and is in negotiations.

Niko Resources Ltd. (NKO.T, C$46.20, -C$0.12, -0.3%) said production performance at the D1/D3 fields within the D6 block "indicates the need for a revision to the current geological model," and that it expects a drop in its reserves for the D1/D3 fields.

Pacific Rubiales Energy Corp. (PRE.T, C$30.22, -C$0.49, -1.6%) boosted its dividend by 18% and posted increases in production and earnings in 2011 versus a year earlier.

Transat AT Inc. (TRZ.B.T, C$6.50, -C$0.24, -3.6%) posted an operating loss in the fiscal first quarter due to high aircraft fuel costs.

Quebec's securities regulator said Thursday that it intends to approve Maple Group Acquisition Corp.'s planned takeover of TMX Group Inc. (X.T, C$43.75, C$0.40, 0.9%). The deal still needs to secure other approvals.

Crescent Point Energy Corp. (CPG.T, C$45.64, -C$0.18, -0.4%) reported higher funds from operations for the fourth quarter and said it plans to acquire TSX Venture-Exchange listed Reliable Energy Ltd. (REL.V).

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