Bombardier, Enbridge, CIBC, Yamana Gold: Canada Stock Movers

By John Kipphoff

Dec. 4 (Bloomberg) -- The following companies were having unusual price changes in Canadian trading. Stock symbols are in parentheses, and share prices are as of 10:14 a.m. in Toronto.

The Standard & Poor’s/TSX Composite Index rose 1.1 percent to 8,391.54.

Bombardier Inc. (BBD/B CN) gained 5.1 percent to C$4.09 and earlier rose 7.5 percent fort its steepest intraday advance since Nov. 25. The third-largest maker of commercial aircraft said fiscal third-quarter profit jumped 169 percent to $245 million (C$309.3 million), or 14 cents a share, as it paid less tax. The company also predicted that plane deliveries this year will slightly exceed last year’s total. Earnings per share surpassed the average estimate of 13 cents from 15 analysts surveyed by Bloomberg.

Canadian Imperial Bank of Commerce (CM CN) climbed 5.2 percent to C$47.65 and earlier jumped 5.9 percent for its steepest intraday gain since Nov. 28. The country’s fifth- largest lender by assets said fourth-quarter profit fell 51 percent to C$436 million, or C$1.06 a share, after taking writedowns tied to debt investments.

Enbridge Inc. (ENB CN), Canada’s largest pipeline company, rose 2.2 percent to C$38.25, gaining for second day after forecasting yesterday 2009 higher-than-estimated earnings in 200i and raising the dividend. Scotia Capital analyst Sam Kanes raised his one-year share-price estimate to C$49 from C$47. today.

National Bank of Canada (NA CN) climbed 3.4 percent to C$39.12 and earlier added 5.4 percent for its steepest intraday gain since Nov. 28. The nation’s sixth-largest bank reported fourth-quarter profit of C$70 million, reversing a loss from a year earlier when it had more writedowns. Net income for the period ended Oct. 31 was 37 cents a share, compared with a loss of C$175 million, or C$1.14, the Montreal-based bank said. Profit matched preliminary results released on Nov. 26.

Toronto-Dominion Bank (TD CN) added 2.2 percent to C$43.42 and earlier advanced as much as 2.9 percent. Canada’s second- largest bank said profit declined for the third straight quarter after it reported credit trading losses. Net income for the fourth-quarter ended Oct. 31 dropped 7.3 percent to C$1.01 billion, or C$1.22 a share, the Toronto-based bank said. Profit matched preliminary results released Nov. 20.

Thomson Reuters Corp. (TRI CN) climbed 3.8 percent to C$31.54, rising for a third-straight day. The news and data provider was raised to “equalweight” from “underweight” at Morgan Stanley.

Separately, Thomson Reuters greed to acquire Plymouth, Minnesota-based software maker Paisley for undisclosed terms to add corporate compliance products at the company’s tax and accounting software unit.

Tundra Semiconductor Corp. (TUN CN) rose 1.6 percent to C$3.15. The semiconductor designer reported fourth-quarter profit excluding some items of 12 Canadian cents a share, exceeding by 85 percent the 6.5 cents average of four analysts estimates compiled by Bloomberg.

Yamana Gold Inc. (YRI CN) added 3.9 percent to C$6.65 and earlier added as much as 4.4 percent: The owner of the Chapada copper and gold mine in Brazil was restarted with an “outperform” rating by Brad Humphrey at Raymond James & Associates. The Toronto-based analyst set a share-price target of C$12.25.

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