Markets

Sector Update: Industrials; WestJet Reports Increased May 2014 Traffic, DragonWave Raises Q1 2015 Revenue Growth Forecast

Industrial stocks were generally higher in afternoon trading, with the S&P/TSX Industrials index gaining 0.6%.

WestJet (WJA.TO): +1.6%

DragonWave (DWI.TO): +19.4%

Air Canada (AC-B.TO): +2.8%

Canadian Pacific Railway (CP.TO): +1.8%

Canadian National Railway (CNR.TO): -0.4%

Bombardier (BBD-B.TO): -0.3%

In corporate news, WestJet Wednesday said traffic in May 2014, measured in revenue passenger miles, increased by 4.8% year-over-year. Capacity, or available seat miles, grew 4.1% from last year.

During the month, the airline company flew a record 1.6 million guests, a year-over-year increase of 5.1% or more than 77,000 additional guests.

Meanwhile, DragonWave said it now expects Q1 2015 revenue to show growth of approximately 60% over the revenue achieved in Q4 2014, compared to a previous forecast of 50% growth.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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