SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Pastimes : Investment Chat Board Lawsuits -- Ignore unavailable to you. Want to Upgrade?


To: mmmary who wrote (2132)11/26/2001 3:57:12 PM
From: Jeffrey S. Mitchell  Read Replies (2) | Respond to of 12465
 
Mary, let's not forget that T-K also employs analysts who issue reports and rate stocks. For example:

TORONTO, Oct 31 (Reuters) - Shares at Canada's AT Plastics (Toronto:ATP.TO - news) (Toronto:ATP.TO - news), a maker of specialty polymers, shot up 26 percent on Wednesday as investors were emboldened by an analyst's report that said the company would return to profitability by selling non-core operations.

Steven Gold, an analyst at Thomson Kernaghan, issued a strong buy on the stock in a Wednesday morning note to clients. His comments followed an announcement by the company on Tuesday that it is in process of spinning off its non-core packaging operations, following the May divestiture of its wire and cable business.

Gold's 12-month target price is $5.00.

By midday, the stock had climbed 26 percent, or 36 Canadian cents, to C$1.75. AT Plastics is still down 20 percent on the year.

AT Plastics shares were snubbed on Tuesday, after the company reported a third-quarter loss, as sales fell to C$62.3 million ($39 million) from C$64.6 million in the year-ago period, reflecting a general economic slowdown after the Sept 11. attacks.

The stock has lost 37 percent since the attacks.

For the quarter ended Sept. 30, AT lost C$8 million ($5 million), or 20 Canadian cents a share, down from a year-ago profit of C$1.2 million, or 4 Canadian cents a share.

($1 equals $1.59 Canadian)

biz.yahoo.com

P.S. ATP.TO is currently at C$2.13

=====

Oh, BTW, this PR was issued a few months prior on August 1. Note the chart and the timing of both announcements. Strictly business! (g)

AT Plastics Inc. To Sell Additional Common Shares

THIS RELEASE IS NOT FOR DISTRIBUTION TO THE UNITED STATES' NEWS WIRE SERVICES NOR FOR DISSEMINATION IN THE UNITED STATES.

TSE Symbol: ATP AMEX Symbol: ATJ

BRAMPTON, ON, Aug. 1 /CNW/ - AT Plastics Inc. (the "Company") announced today that it has filed a preliminary short form prospectus in each of the provinces of Canada relating to a proposed offering of common shares. The gross proceeds of the proposed offering are expected to be approximately $30 million. An underwriting syndicate consisting of CIBC World Markets Inc., Yorkton Securities Inc., and Thomson Kernaghan & Co. Limited has been formed to carry out the offering. The proposed offering is subject to the approval of applicable regulatory authorities.

The net proceeds will be used to reduce indebtedness and for general corporate purposes.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

AT Plastics develops and manufactures specialty plastics raw materials and fabricated products. The Company operates in specialized markets where its product development and process engineering have allowed it to develop proprietary and patented technologies to meet evolving customer requirements in niche markets. Products are sold in the United States, Canada and internationally.

atplas.com