Daily Stock Opinions and Ratings

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Duncan Stewart CanWest Global Comm. CGS-X DON'T BUY Nov 18, 2008

Just renegotiated covenants with their lenders, which is good except the lenders cut back on the amount they can borrow. Newspaper industry in North America is in a violent retraction. This sector will continue to be an anchor around their feet regardless of how well their television assets do.

Duncan Stewart

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$0.720

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DON'T BUY

At this stage it is basically trading like an option on its survivability. Terrible balance sheet with about $4 billion of debt. Management has not been great.

DON'T BUY

He is not active in this sector. This group has not found a bottom yet.

SELL

(Market Call Minute.) There will undoubtedly be a restructuring but shareholders are unlikely to see any benefit.

DON'T BUY

(Market Call Minute.) Dead issue, big time.

PAST TOP PICK

(A Top Pick July 14/08. Down 83.6%.) Sold at $2 putting him down at 11.1%.

SELL

Media space is a very tough one right now. Newspapers are suffering from declining advertising lines and readership. In the TV space a pay-TV provider went out of business today and local stations are closing down. High debt. Sell as a tax loss.

COMMENT

Fairfax Financial (FFH-T) holds 20% of this company. Not sure that they could have any influence on keeping this company out of bankruptcy.

WATCH

Massive spike on volume recently. Don't act on just a couple of days of action; you want a few days. If it continues to rise that would indicate momentum is starting to move in its favour. RSI index spiked into overbought territory. Would like to see a few more days of action.

DON'T BUY

(Market Call Minute) It’s bankrupt.

DON'T BUY

(Market Call Minute.) Have got to be pretty much worthless.

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Duncan Stewart CanWest Global Comm. CGS-X DON'T BUY Nov 18, 2008

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