CanWest, Ithaca, Lockerbie & Hole, Magna: Canada Equity Preview

By John Kipphoff

July 11 (Bloomberg) -- The following companies may have unusual price changes in Canadian trading today. Stock symbols are in parentheses, and share prices are from the previous close.

The Standard & Poor's/TSX Composite Index rose 1 percent to 13,743.88 yesterday in Toronto. Canada's stock benchmark is poised for a fifth-straight weekly drop, the longest such streak in six years.

CanWest Global Communications Corp. (CGS CN): Canada's biggest media company may say that third-quarter profit before one-time items was 6 cents a share, the average estimate of six analysts in a Bloomberg survey. The shares fell 1.5 percent to C$2.02 and have dropped 72 in 2008.

Ithaca Energy Inc. (IAE CN): The oil and gas producer operating in the North Sea received bank financing totaling $240 million (C$243.1 million) to support the acquisition of the Beatrice oilfield. The shares fell 3.7 percent to C$2.60.

Lockerbie & Hole Inc. (LH CN): The 110-year-old construction company said first-quarter net income rose to C$5.02 million, or 18 cents a share, from C$4.87 million, as sales increased 51 percent. The shares fell 1.5 percent to C$13.73.

Magna International Inc. (MG/A CN): North America's largest auto-parts supplier was added by Goldman Sachs Group Inc. to its ``conviction sell'' list. Analysts led by Patrick Archambault in New York cut their six-month share-price estimate by 23 percent to C$50.65 ($50), citing a negative outlook for the U.S. auto and auto parts sector. Magna fell 3.3 percent to C$56.64.

To contact the reporter on this story: John Kipphoff in Toronto at jkipphoff@bloomberg.net.