(Street Life is a regular feature that profiles what's playing in the stock market.)
Act I: Buy low, cell high
* The Player: Ballard Power Systems (TSX:BLD)
* Action: Up five per cent or $0.23 in a month (from $4.91 Oct. 5)
* Recent Price: $5.15
* 52-Week High/Low: $9.15/4.32 The rubber has finally hit the road. Vancouver's Ballard Power Systems Inc. shares closed at $5.15 (up 16 cents) on the confirmation that Ballard is selling its auto fuel-cell business to Daimler AG and Ford Motor Co. In response to rising shareholder excitement, Ballard officials played footsie with the news until the day of the announcement on Nov. 8, warning no deal had been inked.
Daimler currently owns around 19 per cent of Ballard, and Ford owns 11 per cent. They say they will now swap these 34.3 million shares for the auto assets and move to create a private company focused on fuel-cell technology projects. Pending all regulatory and shareholder approvals, Ballard expects to realize an estimated gain on the transaction of $95 to $105 million.
Act II: Off the list
* The Player: Biomira Inc. (TSX:BRA)
* Action: Down 35 per cent or $0.31 in a month (from $0.88 Oct. 5)
* Recent Price: $0.57
* 52-Week High/Low: $1.95/0.51 It's never good to get stroked off the guest list, but at least receiving a warning ahead of time softens the blow.
Biomira Inc., the Edmonton biotech company focusing on cancer therapeutics, recently got a letter from Nasdaq warning that since the company's Nasdaq shares (Nasdaq:BIOM) have closed under $1 for the 30 days preceding the letter, Biomira is at risk for delisting.
If, however, BIOM shares close at $1 or higher for at least 10 consecutive trading days before April 30, 2008, the listing can stay.
That may be a tough sell, though, considering Biomira's latest third-quarter financials. The company's net loss grew $3.1 million to $6.8 million in the three months ending Sept. 30, 2007 (compared to $3.7 million in the same quarter last year), and revenue was down to $1.2 million from $1.7 million in Q3 2006.
Biomira shares on TSX hit a new 52-week low and dropped 12 per cent in a day to close at $0.57 the day of the announcement.
Act III: It's a tough crowd
* The Player: Saxon Financial Inc. (TSX:SFI)
* Action: Down four per cent or $0.90 in a month (from $22.09 Oct. 5)
* Recent Price: $21.19
* 52-Week High/Low: $24.89/20.20 Volatility and credit issues rocked the market this quarter, but even when a financial company came out unscathed, investors didn't seem impressed.
Toronto-based Saxon Financial Inc. announced a 17-per-cent higher profit in Q3 2007 than the same quarter in 2006, up to $4.6 million from $3.9 million.
Revenue was up to $13.9 million from $12.3 million in Q3 2006, and assets under management rose by $1.1 billion to $13 billion.
Saxon, which has three principal businesses - one that manages a family of mutual funds; an institutional asset management business; and a private client asset management business - also announced a $0.23 dividend payable at the end of November.
In response, Saxon stock was ironically lacking volatility after the news, merely holding flat after a six-month fall off highs near $25.
Act IV: The 'rite' stuff
* The Player: Rockcliff Resources Inc. (TSXV:RCR)
* Action: Up 28 per cent or $0.23 in a month (from $0.82 Oct. 5)
* Recent Price: $1.05
* 52-Week High/Low: $1.23/0.19 Say pyrite, pyrrhotite chalcopyrite and sphalerite to a miner, and he'll tell you you've found the "rite" stuff.
Sudbury-based Rockcliff Resources can boast that very news.
The exploration company drilled seven holes in central Manitoba and all holes have mineralization.
More specifically: Intersected volcanogenic massive sulfide (VMS)-style mineralization. What does that mean? Copper, zinc, lead, gold and silver, hopefully.
Drill core samples have been sent for analysis to Acme Analytical Labs in Vancouver.
These samples were taken from the Rail Property on the Snow Lake VMS Project, a property in which Rockcliff has the exclusive right to earn a 100-per-cent interest from a subsidiary of HudBay Minerals Inc. (TSX:HBM).
Rockcliff stock opened at $0.88 the day of the news, to hit a high of $1.14. HudBay shares dropped four per cent to close at $25.23 the day of the announcement.
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 Nov. 5, 2007.
(Nicole Strandlund can be reached at nicole@businessedge.ca)






