Act I: Up, up and away
* The player: CHC Helicopter Corp.
(TSX:FLY.B)
* Action: Up 11 per cent, or $2.90 in a month (from $26.35 June 1)
* Recent Price: $29.25
* 52-week high/low: $28/21.78 Walking past all the construction in Calgary, I can't count the number of times I've muttered, "Oh, to own a crane in this town.”
Walking past all the construction in Calgary, I can't count the number of times I've muttered, "Oh, to own a crane in this town." Well, to own a helicopter that services the oil business with today's energy prices isn't a bad idea, either.
Vancouver's CHC Helicopter, which provides helicopter services to the global offshore oil and gas industry, was just awarded two major contracts worth $1.1 billion by Norway's Statoil ASA for helicopter services in the Norwegian Sea.
This announcement comes on the heels of record quarterly and annual revenue reports. Fiscal 2007 revenue for the year ending April 30 was $312 million, up from $248 million the year before. Net earnings were $13 million, up from $10.7 million in fiscal 2006.
The company added 40 aircraft to its fleet last year, responding to what the company calls "intense customer demand.”
The new Norwegian contracts are expected to bring $80 million annually to CHC.
Act II: Misnomer
* The player: Cork Exploration Inc. (TSX:CRK)
* Action: Down 42 per cent, or $1.10 in a month (from $2.60 June 1)
* Recent Price: $1.50
* 52-week high/low: $4.25/1.50 Perhaps a company that drills for oil shouldn't be named after something that plugs holes.
Cork Exploration, one of Calgary's junior energy companies, has had a tough 2007 so far. In the first quarter, Cork announced lower-than-expected production due to infrastructure capacity constraints and mechanical failures. Its bottom line was also affected by higher operating costs and lower realized prices from sales. Revenue for Q1 was $8.8 million, with a net loss of $972 million. Daily production was 1,959 boe/d.
The company's second-quarter operational update didn't look much better. Production declines, mechanical failures and well shut-ins forced Cork to revise its 2007 average production estimates down to 2,600 boe/d, instead of the previously estimated 3,000-3,200 boe/d, and lower its capital budget.
In response, the stock hit a new 52-week low.
Act III: Tons of trading
* The player: Timminco Ltd. (TSX:TIM)
* Action: Up 1,783 per cent year to date (from $0.30 Jan. 1)
* Recent Price: $5.65
* 52-week high/low: $6.24/0.22 Are you trading this stock? Do you know anyone who is? Well, someone sure was - lots of someones, in fact. So many someones that TSX's market surveillance asked the Toronto-based metals company to make an announcement.
"There have been no material developments at the company which would explain the recent trading activity in the company's stock," says Timminco, the producer and marketer of alloy magnesium, silicon metal and specialty ferrosilicon, calcium and strontium alloys.
Trading volume in the stock averaged around 1.1 million a day for the month before June 21, when volumes cranked up to roughly four million one day and 4.1 million the next.
Since then, trade volumes have settled back to more average levels.
Act IV: Movie-ing up
* The player: Immersive Media Co. (TSX:IMC)
* Action: Up 82 per cent or $2.05 year-to-date
* Recent Price: $4.55
* 52-week high/low: $5.78/1.70 "The road to enlightenment is bumpy," says Spanish scientist Robin Hogarth.
Shareholders of Immersive Media (IMC) can relate, as they've ridden their investments up a rocky road to new highs.
The steep year-to-date climb (from $2.50 on Jan. 1 to a high of $5.78) has had its share of bumps - IMC even earned a spot on the Venture's list of largest one-day decliners (down 6.19 per cent, or $0.30 to $4.55 on July 3).
But, like any good rollercoaster, if you can get past the scary bits, the view from the top may be worth it.
IMC's video captures and arranges 11 video streams to produce a full-motion, high-resolution 360° view.
Even cooler, the movies can integrate GIS (geographic information systems) co-ordinates, so the images can be linked to maps.
Google Maps has recently applied IMC technology, allowing users to travel down a street in four major U.S. cities, and look in every direction as if they were walking on the actual street.
IMC was recently named to the TSX Venture 50, a collection of the top 10 companies in each of five industry sectors.
Inclusion is based on a formula that includes revenue, return on investment, market cap growth and trading volume.
NOTE: The above is not intended as investment advice to buy or sell any mentioned securities. Investors should do due diligence before investing. Quotes are based on results through July 3, 2007.
(Nicole Strandlund can be reached at nicole@businessedge.ca)
