Discovery Air, Virtek Vision May Move: Canadian Equity Preview

By John Kipphoff

Sept. 16 (Bloomberg) -- The following companies may have unusual price changes in Canadian trading tomorrow. Stock symbols are in parentheses, and share prices are from the previous close.

The Standard & Poor's/TSX Composite Index dropped 4 percent to 13,254.03.

Discovery Air Inc. (DA/A CN): The provider of helicopter transportation and aerial firefighting support in northern Canada reported second-quarter profit that fell 12 percent to C$8.9 million ($8.3 million) from C$10.1 million. Revenue rose 33 percent to C$59.1 million, London, Ontario-based Discovery Air said in a statement distributed by Canada NewsWire. The shares gained 11 percent to 49 cents before trading was halted before the results announcement.

Virtek Vision Ltd. (VRK CN): Jaguar Financial Corp., an investor in companies with small market values, said that it plans to offer C$1.12 a share for Virtek, a maker of precision laser projection systems. The bid will offer better value than an agreed C$1.05 offer from Gerber Scientific Inc., Toronto-based Jaguar Financial (JFC CN) said in a statement on Canada NewsWire.

Virtek shares were unchanged at C$1.03. Jaguar dropped 4.6 percent to 10.5 cents.

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