Resolute shares surge as forest products producer beats forecasts

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Shares of Resolute Forest Products Inc. surged as much as 48 per cent Thursday after the lumber, pulp and paper producer beat analyst profit expectations in the second quarter despite a 19 per cent decrease in revenues.

The Montreal-based company's stock peaked at $6.06, the highest level since January, and were up $1.39 or 33.9 per cent at $5.49 in midday trading.

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Source: Winnipeg Free Press

 

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