The Trading Floor

[Tackler]

Russell sign beer deal with B.C. Lions, B.C. Place

2007-05-07 06:42 MT - News Release

Ms. Angie Harris reports

RUSSELL BREWING, BC LIONS AND BC PLACE INK DEAL

The reigning Grey Cup champion B.C. Lions football club, B.C. Place and British Columbia's fastest-growing brewery, Russell Breweries Inc.'s Russell Brewing Company, reached a landmark three-year partnership agreement today, making the local brewery the official beer of the B.C. Lions and B.C. Place.

Beginning with the club's preseason home game on Friday, June 15, versus the Saskatchewan Roughriders, B.C. Place will be carrying a variety of Russell products including the Russell extra special lager and Russell pale ale.

"We are extremely proud to support the B.C. Lions," said Andrew Harris, president of Russell Brewing Company. "B.C. Place, home of the B.C. Lions, will be the first CFL stadium in the country to depart from a mainstream brand and align itself with a local specialty brewery. The B.C. Lions are an incredible team with devoted fans and it is an absolute privilege to support them."

"I am very pleased to have Russell Brewing Company join our roster of partners," said Lions president and chief executive officer, Bob Ackles. "This relationship further demonstrates our commitment to exceptional, locally owned companies, while providing outstanding quality in every aspect of the football fan's experience at B.C. Lions home games."

"We're always looking at innovative ways to increase customer satisfaction at B.C. Place," says Graham Ramsay, director of business development for B.C. Place. "This three-year deal is good news for the local economy and for our fans who are looking for quality products to round out a great experience here in the dome for all our events."

[Arctec]

The Bear Strikes Back!



A 6.7% increase in Crude Oil (following the detainment of British Soldiers in Iran), and FED Chairman Bernake’s comments that “uncertainties have risen” pulled down global markets this week.



Although positive news continues to come out of Asia and Europe (notably Germany), the US continues to disappoint. A decrease in consumer confidence on Wednesday coupled with Thursday’s Personal Consumption and GDP figures and The FED’s inflation concerns saw the dollar soar, but markets falter. Economists have argued that Asian growth could fill the void created by the US slowdown, but with many of these “export centered” countries so heavily reliant on the US consumer this is unlikely until sufficient internal demand is created.



Currency trading again centered on the Yen that is again being borrowed to finance Carry Trades. Interestingly, currency traders took considerable interest in the Icelandic Central Bank’s rate decision this week and a probable decrease in interest rates (from 14.25%) resulted in large scale options trading to protect against this. The Icelandic Krona is the world’s second best performing currency against the dollar this year.



As previously mentioned, the fate of the 15 British sailors held captive in Iran will dictate crude prices going forward. Sly Iranian diplomacy has placed the UK in the unenviable position of having to admit “entering Iranian waters” to secure their citizen’s immediate release. We hope for sense to prevail and will be monitoring the situation closely.



As we reach the end of the first quarter, speculation exists that prices have been pushed to artificially high levels for reporting purposes and the above mentioned geopolitical factors compound the prevailing uncertainty.

Kind Regards,

The Global Trader Team

[Arctec]

Undervalued Stock #2 ========== --- Freeport McMoRan Copper & Gold Inc. (NYSE: FCX) --- Insider Name: Robert DayInsider Position: DirectorInsider Action: 200,000 shrs on 3/26/2007Insider Total Holding: 1,131,954 shrs -------------------------------------------------------Undervaluation Merits... P/E Ratio = 9.86 (Industry Average 12.22)P/S Ratio = 3.77 (Industry Average 3.85) Industry: Oil & Gas Pipelines -------------------------------------------------------Other Merits... Dividend Yield = 1.90%Exceeded Analysts' Estimates for Past 5 Quarters --- Freeport McMoRan Copper & Gold Inc. (NYSE: FCX)

[Arctec]

Undervalued Stock #1 ========== --------- Chesapeake Energy Corp. (NYSE: CHK) --------- Insider Name: Aubrey K. McClendonInsider Position: ChairmanInsider Action: 200,000 shrs on 3/22/2007 to 3/23/2007Insider Total Holding: 27,214,876 shrs -------------------------------------------------------Undervaluation Merits... P/E Ratio = 7.1 (Industry Average 15.1)P/S Ratio = 1.95 (Industry Average 4.70)P/B Ratio = 1.53 (Industry Average 2.73)P/CF Ratio = 4.20 (Industry Average 8.60) Industry: Independent Oil & Gas -------------------------------------------------------Other Merits... Dividend Yield = 0.80%Exceeded Analysts' Estimates for Past 5 Quarters --------- Chesapeake Energy Corp. (NYSE: CHK)

[Arctec]

Ear on the Street

Aurelian Resources (ARU : TSX : $30.89)
FDN yields 250 metres of 35.1g/t gold
Blackmont Capital maintains a "speculative buy", 12-month target price is $48.35
Canaccord Adams maintains a "speculative buy", target price cut to $45.50

ATS Automation Tooling Systems (ATA : TSX : $8.55)
Photowatt IPO withdrawn
Blackmont Capital maintains a "hold", 12-month target price is cut to $8.20
CIBC World Markets maintains a "sector outperform", target price raised to $13.00
Credit Suisse maintains a "neutral", target price cut to $9.00
Raymond James maintains a "market perform", 6-12 month target price cut to $9.00

Aur Resources (AUR : TSX : $23.52)
Strength in copper market continues
Desjardins Securities reiterates "buy", target price is $26.85

Artis REIT (AX.UN : TSX : $16.27)
Alberta to drive growth
CIBC World Markets maintains a "sector outperform", target price is $19.00
Desjardins Securities upgrades to "top pick", target price raised to $18.82

Blue Pearl Mining (BLE : TSX : $12.21)
Posts very impressive cash flow from operating activities
GMP Securities maintains a "buy", target price raised to $14.00

Bonterra Energy Income Trust (BNE.UN : TSX : $26.80)
Despite slightly disappointing Q4 results, outlook remains solid
CIBC World Markets maintains a "sector outperform", target price raised to $30.00

Carfinco Income Fund (CFN.UN : TSX : $3.80)
Disappointing fourth-quarter results, outlook remains solid
Blackmont Capital maintains a "speculative buy", 12-month target price is cut to $4.50
GMP Securities maintains a "buy", target price is $4.85

Centerra Gold Inc. (CG : TSX : $10.53)
Political developments in Krygyz Republic come as little surprise
RBC Capital Markets maintains a "outperform", target price is $19.00

Compton Petroleum (CMT : TSX : $11.75)
$10 million loss in Q4
Scotia Capital Markets maintains "sector underperform", 12-month target price is cut to $11.50

Countryside Power Income Fund (COU.UN : TSX : $9.71)
Continues strategic review process
CIBC World Markets maintains a "sector perform", target price is $10.00
Desjardins Securities upgrades to "buy", target price raised to $11.00
RBC Capital Markets maintains a "outperform", target price is $10.50

Canadian Sub-Surface Energy (CSE : TSX : $3.40)
Posts weak fourth-quarter results
Raymond James maintains a "strong buy", 6-12 month target price cut to $5.50

Cognos Inc. (CSN : TSX : $46.51 | COGN : NASDAQ : US$40.11)
Expecting strong Q4/06 results and growth to continue in 2007
CIBC World Markets maintains a "sector outperform", target price is US$50.00
RBC Capital Markets reiterates "outperform", target price is US$48.00

Descartes Systems Group (DSG : TSX : $5.05 | DSGX : NASDAQ : US$4.39)
February data represents second consecutive month of increase in U.S. trucking indices
GMP Securities reiterates "focus buy", target price is $7.00

Emergis (EME : TSX : $6.13)
Health division to drive growth
Desjardins Securities initiates coverage with a "buy", 1-year target price is $7.50

FUN Technologies (FUN : TSX : $3.00)
Posts in line fourth-quarter results
CIBC World Markets maintains a "sector outperform", target price is $7.00

Gildan Activewear (GIL : TSX : $69.32 | NYSE : US$59.73)
Moving production offshore
Desjardins Securities maintains "buy", 12-month target price is $82.00
Raymond James maintains "strong buy", 12-month target price is US$70.00
RBC Capital Markets rates "outperform", 12-month target price is US$68.00

Goldcorp Inc. (G : TSX : $28.65)
Landowners block access road
Blackmont Capital rates "buy", 12-month target price is $37.50

Quebecor World (IQW : TSX : $14.45 | NYSE : US$12.46)
Meredith Corp decides to close Child magazine
Desjardins Securities maintains "sell", 12-month target price is US$11.00

Jaguar Mining Inc. (JAG : TSX : $6.18)
Q4/06 results reported
RBC Capital Markets rates "outperform", 12-month target price is $10.00

MEGA Brands (MB : TSX : $26.08)
Reports results Friday
RBC Capital Markets rates "outperform", 12-month target price is $30.00

Magna Entertainment (MEC.A : TSX : $4.05)
Selling non-core assets
GMP Securities maintains "buy", 12-month target price is $6.05

Miranda Technologies (MT : TSX : $11.05)
Decline in financial performance
Raymond James downgrades to "market perform", 12-month target price is cut to $13.00
TD Newcrest maintains "hold", 12-month target price is cut to $13.00

Newport Partners Income Fund (NPF.UN : TSX : $6.14)
Sells RGC
Blackmont Capital rates "sell", 12-month target price is $5.50
RBC Capital Markets rates "underperform", 12-month target price is $6.15

Excel-Tech Ltd. (NRV : TSX : $1.75)
An attractive takeover target
Raymond James upgrades to "outperform", 6-12 month target price is $2.00

Progress Energy Trust (PGX.UN : TSX : $12.69)
Strengthened by acquisition
CIBC World Markets maintains a "sector perform", target price raised to $14.00
Raymond James rates "strong buy", 12-month target price is $15.75

Peerless Energy (PRY.A : TSX : $3.35)
Year-end results
Canaccord Capital rates "buy", 12-month target price is $5.00

Quadra Mining Ltd. (QUA : TSX : $8.90)
High-yield debt to pay for Carlota
RBC Capital Markets maintains "sector perform", 12-month target price is $10.50

QuStream (QVC : TSX-V : $1.52)
Mixed bag of Q4/06 results
Blackmont Capital maintains a "hold", 12-month target price is $2.00

Sun Life Financial Inc. (SLF : TSX : $52.64 | NYSE : US$45.40)
To retire Clarica brand
GMP Securities maintains "buy", 12-month target price is $57.50

SNC-Lavalin Group (SNC : TSX : $33.21)
Q1 negatively impacted by a forecasted loss on a major power project
Scotia Capital Markets maintains "sector outperform", 12-month target price is cut to $37.00

Somerset Entertainment (SOM.UN : TSX : $2.73)
Q4 exceeds expectations
RBC Capital Markets maintains "sector perform", 12-month target price is $3.00

Tahera Diamond (TAH : TSX : $1.09)
Q4 results below expectations
GMP Securities maintains "buy", 12-month target price is $1.45

Teranet Income Fund (TF.UN : TSX : $9.61)
Q4 preview
CIBC World Markets maintains "sector outperform", 12-month target price is $9.75

Trafalgar Energy (TFL : TSX : $4.19)
Positive 2006 year-end results
Blackmont Capital maintains a "buy", 12-month target price is $5.00
Canaccord Adams maintains "buy", 12-month target price is $5.00

UTS Energy (UTS : TSX : $4.20)
Updates winter drilling program
TD Newcrest maintains "buy", 12-month target price is $5.00

Wi-Lan Inc (WIN : TSX : $6.25)
To acquire Tri-Vision
Haywood Securities maintains "sector outperform", 12-month target price is $7.75

WestJet Airlines (WJA : TSX : $15.07)
Harmony Airways discontinues scheduled flight service
Canaccord Adams maintains "buy", 12-month target price is $18.25
Desjardins Securities maintains "buy", 12-month target price is $17.50

[Arctec]

Ear on the Street

AGF Management (AGF.B : TSX : $34.75)
Strong first quarter
CIBC World Markets rates "sector outperform", 12-month target price is raised to $39.00
Credit Suisse rates "outperform", 12-month target price is $40.00
GMP Securities rates "buy", 12-month target price is $41.00
TD Newcrest maintains "hold", 12-month target price is raised to $34.00

Anatolia Minerals Dev Ltd (ANO : TSX : $5.98)
Encouraging results at Copler
Haywood Securities rates "sector outperform", 12-month target price is $6.90
Raymond James maintains "outperform", 12-month target price is $7.00

Atlantic Power (ATP.UN : TSX : $10.93)
Released Q4/06 results
RBC Capital Markets rates "sector perform", 12-month target price is $11.25

Avenir Diversified Income Tr. (AVF.UN : TSX : $7.25)
Strong Q4 results
Blackmont Capital maintains "buy", 12-month target price is $8.50

Bombardier Inc. (BBD.B : TSX : $4.68)
Reorted Q4/06 results
Desjardins Securities maintains "hold", 12-month target price is $ 4.95
RBC Capital Markets rates "underperform", 12-month target price is $4.00

Bank of Nova Scotia (BNS : TSX : $53.89)
Opening representative office in Istanbul
Blackmont Capital maintains a "buy", 12-month target price is $61.00

Custom Direct Income Fund (CDI.UN : TSX : $8.37)
Announces new business line
TD Newcrest maintains "buy", 1-year target price of $10.00

CanWest Global Communications (CGS : TSX : $10.90)
TEN results above expectations
GMP Securities maintains "hold", 12-month target price is raised to $11.50

Clean Power Income Fund (CLE.UN : TSX : $5.22)
No surprises in Q4 results
Canaccord Capital rates "hold", 12-month target price is $ 5.70

Cardiome Pharma (COM : TSX : $11.36)
2007 expected to be volatile
RBC Capital Markets rates "outperform", 12-month target price is $15.00

Canadian Tire Corporation (CTC.A : TSX : $74.30)
Well executed growth strategy
RBC Capital Markets rates "outperform", 12-month target price is $85.00

Denison Mines Corp. (DML : TSX : $13.79)
Looking for strength to continue
Raymond James upgrades to "outperform", 6-12 month target price raised to $15.50

EXFO Electro-Optical Engin. (EXF : TSX : $7.16 | EXFO : NASDAQ : US$6.17)
Fiscal 2007 second-quarter earnings expected April 3
Desjardins Securities maintains a "buy", target price is $10.25

Finning International (FTT : TSX : $53.56)
Share buyback program seen as a positive
RBC Capital Markets rates a "outperform", target price is $55.00

Gennum Corp. (GND : TSX : $12.10)
First quarter results slightly below expectations
Blackmont Capital maintains a "hold", 12-month target price is $14.00
Raymond James maintains a "outperform", 6-12 month target price is $16.50

Galleon Energy (GO.A : TSX : $17.05)
Released Q1 2007