By John Kipphoff
Nov. 21 (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 in Toronto.
The Standard & Poor’s/TSX Composite Index fell 9 percent to 7,724.76.
Mosaid Technologies Inc. (MSD CN): The semiconductor designer reported an unexpected loss and said profit this quarter will be 41 cents a share at most, or at least 21 percent less than the average analyst estimate in a Bloomberg survey. The shares fell 2.1 percent to C$6.95.
Pizza Pizza Royalty Income Fund (PZA-U CN): The pizza chain said that its units are undervalued due to market volatility and looming changes in the taxation of income trusts. The fund will buy back as much as 10 percent of its outstanding units to boost their price, Toronto-based Pizza Pizza said in a statement on Canada NewsWire. Pizza Pizza’s units fell 9 percent to C$6.25.
Oilexco Inc. (OIL CN): The oil and gas producer that may be sold or merged after it was unable to access short-term credit or sell debt and stock was cut to “sector underperform” from “sector perform” by CIBC World Markets analyst Robert Pare. The shares dropped 42 percent to C$1.45 and have lost 89 percent of their value this year.
To contact the reporter on this story: John Kipphoff in Toronto at jkipphoff@bloomberg.net.
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