Archive for October 1st, 2007
GMP tackles currency impact on wireless sector; drops most target prices
1 October 2007Hooray for GMP’s wireless research team for dealing with the recent strong move in the CDN$. While we saw plenty of adjustments to analyst eps forecasts in the late summer (see prior post “Calling all software equity research analysts part 2“, June 5-07, “Scotia Capital shaves Cognos on CDN$ move” June 6-07), September was [...]
Ontario politicians asked to address deteriorating VC climate
1 October 2007Earlier today, our firm joined other local and US-based funds in an effort to get Ontario politicians to address the major drop in venture capital attracted by Ontario-based firms over the past few years.
Here is the text of our release as well as a separate one put out by the Canadian Venture Capital and Private [...]
More Dundee grist for the mill
1 October 2007It might sound odd, but brokerage firms are talking this morning about a new angle on CI Financial’s bid for Dundee Wealth (DW:TSX). Word is that a new $30/share offer might be coming, with Fortress (FIG:NYSE) joining CI in the game as a joint-bidder. Something about carving up the hedge assets from the [...]
Quebecor World, meet the new credit market
1 October 2007This Quebecor World (IQW:TSX, NYSE) research note was put out this morning by Genuity Capital Markets. There’s no beating around the bush. Despite having a US$1.2 billion market cap. and US$570MM of EBITDA forecast for 2007, their lenders knocked back QW’s credit facility from US$1 billion (of which only US$100MM was drawn) to [...]
Westwind to be acquired by Thomas Weisel
1 October 2007Talk about out-of-the-blue.
I’m not amazed that Westwind Partners thought it would be a good idea to sell (or is it merge?), what I’m amazed at is how tight they kept it. Not a word leaked. Not a hint. Well done on all fronts. A good partner and a good price, with [...]