BUZZ-Domtar Corp: Best intraday gain in nearly 2 yrs on Q2 results beat

Wed Jul 27, 2016 11:07am EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

** Canadian pulp and paper maker's shares up 7.2 pct C$49.97; U.S.-listed shares 7 pct at $37.84

** Toronto-listed stock rises as much as 12.8 pct and U.S.-listed stock as much as 13.4 pct, their biggest intraday percentage gains since October 2014

** Company posts better-than-expected Q2 profit on lower costs, while revenue slightly exceeds estimates

** "We expect a steady improvement in margin as the company continues to win contracts on quality," Dundee Capital Markets says

** Up to Tuesday's close, Canada-listed stock had fallen nearly 9 pct this year, while U.S.-listed stock had fallen 4 pct