Canada Hot Stocks: Lululemon, Vero, Connacher Among the companies whose shares are making notable moves in Wednesday's session are Lululemon Athletica Inc. (LULU), Vero Energy Inc. (VRO.T) and Connacher Oil & Gas Ltd. (CLL.T).
Goldman Sachs raised Lululemon ($49.73, $2.73, 5.8%) to conviction buy from buy, citing continued growth momentum.
Vero Energy (C$2.83, C
.18, 6.8%) is adding to Tuesday's gain after saying it will sell certain natural-gas assets to a private oil and gas company for C$209 million and distribute a portion of the proceeds - estimated at 30 Canadian cents a share - to shareholders. Shares closed up 27% Tuesday.
Connacher Oil and Gas (C
.73, -C
.16, -18%) said it expects strong fourth-quarter results based on higher crude and bitumen prices, leading it to suspend a plan to find a joint venture partner for certain of its Great Divide oil-sands assets until around mid-February. It also announced management changes.
-By Dow Jones Newswires; write to djcanada@dowjones.com