(Street Life is a regular feature that focuses on what's playing in the stock market.)

Act I: Caught by surprise

• The Player: PreMD Inc. (TSX:PMD) • Action: Down 70 per cent in a day on news (from $1.30 Jan. 14) • Recent Price: $0.39 • 52-Week High/Low: $2.10/$0.30 Is your cholesterol too high? Your blood pressure may well be, if you're a shareholder of PreMD.

Stock of the Toronto-based "predictive medicine" company plunged recently when the U.S. Food and Drug Administration (FDA) rejected the company's regulatory submission for its skin cholesterol test.

In a press release, PreMD announced that it was shocked by the decision, as it had submitted the claim back in June 2007 based on study design that was approved by the FDA, yet the recent claim rejection is related to the "clinical utility of evaluating skin cholesterol with carotid wall intima thickness as the clinical endpoint."

PreMD shares plummeted more than 76 per cent to hit a new 52-week low on the news, and closed down 70 per cent, or 91 cents, to $0.39 the day of the announcement.

Act II: Party like it's 1608

• The Player: WestJet Airlines (TSX:WJA) • Action: Down 21 per cent or $4.70 year-to-date (from $22.51 Jan. 1) • Recent Price: $17.81 • 52-Week High/Low: $23.49/$14.11 Quebec's having a party, and everyone wants to go - at least that's what WestJet is hoping.

The Calgary-based airline recently announced it will offer flights to and from Quebec City beginning in May of this year, coincident with that city's 400th anniversary (and resulting year of parties, concerts and special events).

But don't count on the usual antics (read: English-language buffoonery during a recorded French safety message) while taxiing.

The airline promises it will offer "proper" bilingual service on the flights. One can only hope the WestJet jokes we've all come to love flow just as freely in both languages.

Shares of the airline have taken a beating in 2008, falling 21 per cent from a Jan. 1 close of $22.51 to $17.81 Jan. 15, on fears of rising oil prices and economic uncertainty.

Act III: Making dough

• The Player: Canada Bread Co. (TSX:CBY) • Action: Up three per cent or $2 year-to-date (from $69 Jan. 1) • Recent Price: $71 • 52-Week High/Low: $73.84/$51.50 There's money in sandwiches.

Just ask Canada Bread Company Ltd., a Toronto-based manufacturer and marketer of flour-based products such as breads, rolls, bagels and sweet goods. Canada Bread, which is 88-per-cent owned by Maple Leaf Foods Inc. and currently markets under such labels as Dempster's, Olafson's and Olivieri, has recently announced its second major expansion into the sandwich market.

For an initial price of $42 million, Canada Bread is buying Aliments Martel Inc., a private Quebec-based maker and distributor of sandwiches, meals and sweet goods. (The price of the deal may rise by up to $23 million, depending on Martel's performance over the next three years.) This follows a deal in 2006, when Canada Bread bought Toronto-based Royal Touch Foods. After the announcement, shares of Canada Bread closed at $71, holding steady near the recently marked 52-week high of $73.84.

Act IV: Canada rocks

• The Player: Canadian Satellite Radio (TSX:XSR) • Action: Down five per cent or $0.25 year-to-date (from $5.30 Jan. 1) • Recent Price: $5.05 • 52-Week High/Low: $8.44/$2.41 Some of our American friends may not be able to identify Canada on a world map, but the lack of attention certainly doesn't go both ways. In fact, Canadians are so attentive to the U.S. that even advertising in the States can affect Canadian spending.

Canadian Satellite Radio, which operates as XM Canada, announced that in the quarter ending Nov. 30, 2007, subscriber base increased 86 per cent to 350,300, revenue more than doubled to $8.1 million, and loss decreased to $16.2 million from $23.9 million (compared to the same period a year earlier). The company, which has been active in the Canadian market for roughly two years, credits its success to advertising in the States, saying Canadian awareness of the product and campaigns in the U.S. helped prepare consumers for the domestic rollout.

XM shares are down slightly from the $6 range in December, but are holding steady year-to-date.

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 Jan. 15, 2008.

(Nicole Strandlund can be reached at nicole@businessedge.ca)