BUZZ-Magellan Aerospace Corp: Q2 results miss estimates

Wed Aug 12, 2015 12:10pm EDT
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** Aerospace parts maker's shares down more than 10 pct at C$17.46 after results

** Company reported lower-than-expected Q2 profit and revenue late on Tuesday, hurt by fall in demand for its proprietary products and weakness in defence market

** TD securities downgrades stock to 'hold' from 'buy'

** The other two brokerages covering the stock, rate it 'buy' or higher

** Up to Tuesday's close, stock had risen 67 pct in the last 12 months