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

Act I: Warranted Attention

* The Player: NovaGold Resources Inc. (TSX:NG)

* Action: Up 90 percent in a month (from $1 Dec. 12, 2008)

* Recent Price: $1.90

* 52-Week High/Low: $12.06/$0.475 When you ask for help, people are going to believe you need it.

NovaGold Resources Inc., a precious metals company based in Vancouver, announced plans earlier this month to sell approximately 30 percent of its outstanding shares to New York-based private company Electrum Strategic Resources LLC, plus another 16 percent in warrants.

According to TSX rules, NovaGold would need shareholder approval for such a deal (which being in excess of 25 percent of the company, materially affects NovaGold control).

But forget approval; NovaGold's board has concluded the company is in serious financial difficulty and this transaction is reasonable. So NovaGold applied to the TSX for "financial hardship exemption" under Section 604(e) of the TSX Company Manual, meaning shareholder approval wouldn't be needed.

But what's that? Relying on the financial exemption section means the TSX triggers a delisting review? NovaGold is telling investors - who pushed the stock down to $1.90 from $2.13 on the news - not to worry.

The delisting review is merely a formality, and following the closing of the financing (expected later this month), NovaGold will be stronger and in compliance with all TSX listing requirements.

Act II: "Eye Due"

* The Player: QLT Inc. (TSX:QLT)

* Action: Up 10 percent in a month (from $2.68 Dec. 12, 2008)

* Recent Price: $2.94

* 52-Week High/Low: $4.85/$2.13 Patents can be a pain in the eye.

This week QLT Inc., a biopharmaceutical company based in Vancouver, learned the United States Court of Appeals sided with the original court judgment (against QLT) in a patent dispute.

In the suit, Massachusetts Eye and Ear Infirmary (MEEI) sought damages from QLT for unfair trade practices regarding a U.S. patent and MEEI's research results related to QLT's Visudyne product.

In the original 2007 judgment, QLT was ordered to pay MEEI damages equal to 3.01 percent on past, present and future worldwide net sales of Visudyne plus interest and certain legal fees.

Net sales for Visudyne, which treats wet age-related macular degeneration, pathological myopia (nearsightedness) and histoplasmosis (a fungal eye infection), were around $2.6 billion by Dec. 31, 2008, which means QLT owes (to date) roughly US$113 million.

QLT is considering options for further appellate review.

Act III: The Shrink Shop

* The Player: CGI Group Inc. (TSX:GIB.A)

* Action: Up 10 per cent in a month (from $8.80 Dec. 12, 2008)

* Recent Price: $9.69

* 52-Week High/Low: $12.02/$8.30 Just as a plumber profits most when a toilet is plugged, companies that help others streamline do well in an economic downturn.

Montreal-based CGI Group provides IT and business-process services, and recently announced US$320 million in new, upgraded or expanded contracts in calendar 2008.

"As governments of all sizes brace for tough times, it's clear they recognize the need to get the very best from their financial systems by reducing costs, increasing efficiency and establishing greater accountability," said Pat Colacicco, VP of CGI's AMS Advantage group in a media release. (AMS Advantage aims to improve efficiency and costs in government processes.)

New AMS customers include the California Department of Transportation and the City of Cleveland.

Upgrade clients in 2008 include the City of Los Angeles, and Springfield, Ill., and contract extension clients include the City of New York and Baltimore County Schools.

CGI's fiscal 2008 revenue was $3.7 billion and at Sept. 30, 2008, CGI had $11.6 billion in backlogged orders.

Act IV: Buyer's market

* The Player: Bank of Montreal (TSX:BMO)

* Action: Down two percent in a month (from $33.58 Dec. 12, 2008)

* Recent Price: $32.81

* 52-Week High/Low: $58.78/$28.89 Celebratus emptor (buyer celebrate) - there are deals to be had.

American International Group Inc. (AIG) needs to raise funds to repay $152 billion in U.S. government bailout loans, and offered AIG Life of Canada up for sale. Bank of Montreal (BMO) will be buying AIG Life, based in Toronto, which sells insurance and retirement savings products. In the transaction, expected to take place over the next six to 12 months, BMO will take on AIG's 300 employees and 400,000 customers, and create a new company called BMO Life Insurance Co.

AIG has already received a first round of bids for its aircraft leasing unit and is expected to try and sell its asset management business as well.

AIG stock (NYSE:AIG) has fallen 14 percent in a month (from US$1.80 Dec. 12, 2008 to US$1.54 Jan. 12, 2009), while BMO's TSX shares have fallen two percent in that same month (from $33.58 Dec. 12, 2008 to $32.81 Jan. 12, 2009.)

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. 12, 2009.

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