Canada Stocks to Watch: CP, Valeant, Keg Royalties, Innergex

Listed below are the stocks expected to move during Tuesday's trading session.

Canadian Pacific Railway Ltd. (CP) increased its hostile offer for Norfolk Southern Co. (NSC), adding a contingent value right which it says would provide up to $3.4 billion in additional value for Norfolk shareholders.

Valeant Pharmaceuticals International Inc. (VRX) slashed its outlook for the current quarter and full year, and issued downbeat earnings guidance for 2016, as the drugmaker deals with the fallout from its relationship with a controversial mail-order pharmacy. The updated guidance came ahead of the company's investor day, which started at 8 a.m. ET.

Keg Royalties Income Fund (KEG.UN.T) declared a special cash distribution of 7 Canadian cents a unit. It said the distribution comes in the wake of "exceptionally strong same-store sales growth."

Innergex Renewable Energy Inc. (INE.T) said it has reached a joint deal to buy the Walden North Hydroelectric project near Lillooet, B.C. from FortisBC for C$9.2 million.

Write to Judy McKinnon at [e-mail]

(END) Dow Jones Newswires

December 16, 2015 09:53 ET (14:53 GMT)

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