Com Dev International, Potash Corp, Q9: Canada Equity Preview

By John Kipphoff

Sept. 12 (Bloomberg) -- The following companies may have unusual price changes in Canadian trading tomorrow. Stock symbols are in parentheses, and share prices are from the last close in Toronto.

The Standard & Poor's/TSX Composite Index rose 0.9 percent to 12,612.76.

Com Dev International Ltd. (CDV CN): The maker of satellite subsystems reported third-quarter sales and per-share profit that exceeded the average of estimates in a Bloomberg survey. Com Dev also said revenue in the current year will grow by more than 20 percent, faster than the 15 percent to 20 percent range it had previously estimated. The shares rose 1 percent to C$3.08.

Potash Corp. of Saskatchewan Inc. (POT CN): The world's largest maker of crop nutrients by market value said its stock is undervalued and that it plans to double its buyback program by purchasing as many as 15.68 million additional shares, or about 5 percent of its outstanding common equity.

The company already bought 15.82 million shares this year, according to a statement on Canada NewsWire. ``Our shares are significantly undervalued versus our long-term potential,'' Bill Doyle, Potash's chief executive officer, said in the release. Doyle owned 328,5000 Potash shares as of Sept. 4, according to Bloomberg data. The shares rose 5.8 percent to C$162.

Q9 Networks Inc. (Q CN): The operator of Internet data centers reported an unexpected third-quarter loss of 1 cent a share before one-time items. Analysts in a Bloomberg poll had estimated profit of 3 cents a share. Q9 agreed last month to be bought by U.S. buyout firm Abry Partners LLC for C$361 million ($344 million). The shares gained 0.2 percent to C$16.78.

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