By John Kipphoff
Nov. 18 (Bloomberg) -- The following companies may have unusual price changes in Canadian trading today. Stock symbols are in parentheses, and share prices are from yesterday's close in Toronto.
The Standard & Poor's/TSX Composite Index dropped 2.9 percent to 8,795.45.
Cardiome Pharma Corp. (COM CN): The drugmaker had its share-price estimate cut 27 percent to C$11 at Scotia Capital. The shares fell 1.6 percent to C$4.79.
Fortis Inc. (FTS CN): The investor in electric distribution utilities was downgraded to ``sector perform'' from ``sector outperform'' at Scotia Capital. The shares added 0.7 percent to C$27.58.
George Weston Ltd. (WN CN): The maker of Arnold bread and parent of Canada's biggest grocer is scheduled to report third- quarter results. The Toronto-based company may say that profit was C$1.24 a share before one-time items, the average of three analyst estimates in a Bloomberg survey.
Separately, Weston was cut to ``sector perform'' from ``outperform'' at RBC Capital Markets. The shares rose 3 percent to C$62.88, the highest price in a year.
ProEx Energy Ltd. (PXE CN: The gas producer that agreed to buy Progress Energy Trust (PGX-U CN) for C$1 billion ($813 million) yesterday was raised to ``buy'' from ``hold'' by Brian Kristjansen at Genuity Capital Markets. The Calgary-based analyst set a share-price target of C$15.50. The shares fell 12 percent to C$11.76.
TransCanada Corp. (TRP CN): The owner of Canada's largest pipeline system said it will issue about C$1 billion ($816 million) of stock, selling 30.5 million shares at C$33 apiece. TransCanada fell 3.1 percent to C$34.53.
To contact the reporters on this story: John Kipphoff in Toronto at jkipphoff@bloomberg.net.
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