Thursday, November 29, 2012

Canada Stocks to Watch: RIM, Nexen, CGI, Keegan, Athabasca Oil

By Judy McKinnon

Some of the stocks we?re keeping an eye on today are listed below.

Nokia Corp. said it has filed suits against Research In Motion Ltd. for allegedly breaching a patent-licensing agreement related to WLAN technology, known commercially as WiFi.

Cnooc Ltd. and Nexen Inc. have resubmitted their application for review by the U.S. government of Cnooc?s $15.1 billion takeover deal for Nexen.

CGI Group Inc. posted a fourth-quarter loss of C$168 million after taking a C$248 million charge related to its acquisition of Logica. Excluding the charge, CGI earned 37 Canadian cents a share, down from 39 Canadian cents a year earlier.

Keegan Resources Inc. said it has reached an out-of-court settlement of the Esaase gold concession lawsuit. It said financial details are confidential, but the settlement amount wasn?t material to the company.

Athabasca Oil Corp. said its board has approved the C$536 million development budget for the Hangingstone Project 1. It also announced executive changes and will split the role of chief financial officer in two.

Imperial Oil Ltd. said it has agreed to buy a 50% stake in Celtic Exploration Ltd. from Exxon Mobil Corp. for C$1.55 billion. The deal will be completed once Exxon closes its C$2.6 billion purchase of Celtic.

Canadian Tire Corp. said its FGL Sports Ltd. division has agreed to buy hockey-store chain Pro Hockey Life Sporting Goods for C$85 million.

Source: http://blogs.wsj.com/canadarealtime/2012/11/28/canada-stocks-to-watch-rim-nexen-cgi-keegan-athabasca-oil/?mod=WSJBlog

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