By Dow Jones
Among the companies whose shares are making notable moves in Wednesday's session are Exfo Inc. /zigman2/quotes/203510596/composite EXFO +3.81% , Potash Corp. of Saskatchewan Inc. (POT), Niko Resources Ltd. (NKO.T) and Taseko Mines Ltd. /zigman2/quotes/208408152/composite TGB +2.89% .
Exfo (C$7.36, -C$1.37, -16%) swung to a fiscal third-quarter profit, but the maker of telecommunications-testing equipment predicted weak results in the current quarter.
Canpotex, the marketing company owned by three Saskatchewan potash producing companies, including Potash Corp. (C$55.07, C$1.09, 2.0%), signed a contract with China's Sinofert Holdings Ltd. to supply 630,000 metric tons of potash in the second half of calendar 2011 at a price about $70-a-ton higher than the first half China price level. TD Newcrest called the news positive and said the $470-a-ton import price is above its previous expectation of $450 a ton and represents a "very healthy level" that will likely support continued price strength in other markets.
Niko Resources (C$60.03, -C$1.37, -2.2%) said fourth-quarter earnings plummeted to 1 cent a share from 76 cents, hurt by the nearly $10 million charge related to the company's recently guilty plea to one count of bribery.
Taseko (C$4.62, C$0.10, 2.2%) said it has purchased put options on about 90% of the its 2012 copper production, which ensures a minimum selling price of $3.50 a pound.
Among the companies whose shares are making notable moves in Wednesday's session are TMX Group Inc. (X.T), Shaw Communications Inc. SJR, Yellow Media Inc. (YLO.T) and Crocotta Energy Inc. (CTA.T).
TMX Group (C$44.50, C$0.94, 2.2%) and London Stock Exchange Group PLC (LSE.LN) terminated their transatlantic tie-up Wednesday after determining they wouldn't receive enough shareholder support to complete the transaction. The deal's termination paves the way for a consortium of 13 big Canadian financial firms to try to complete their hostile C$3.8 billion bid for TMX, the operator of Canada's flagship Toronto Stock Exchange.
Shaw Communications (C$21.64, C$0.38, 1.8%) posted better-than-expected third-quarter earnings and revenue, helped by cost-savings initiatives such as staff cuts and a review of overhead expenses.
Yellow Media (C$2.69, C$0.41, 18%) has received Investment Canada approval for the sale of Trader Corp., which it expects to close by the end of July. Shares of Yellow Media have taken a hit lately, most recently after Credit Suisse cut its recommendation early this week to underperform, citing an accelerating decline in the company's print directory business and only gradual growth on the digital side.
Crocotta Energy (C$2.85, C$0.11, 4.0%) has signed a farm-in agreement in the Edson area of Alberta, targeting liquids-rich gas in the Bluesky formation.