Some of the most active companies traded Wednesday on the Toronto Stock Exchange:
Toronto Stock Exchange (15,171.25, up 227.16 points).
Aurora Cannabis Inc. (TSX:ACB). Health care. Up 62 cents, or 8.5 per cent, to $7.91 on 13.2 million shares.
Bombardier Inc. (TSX:BBD.B). Down 12 cents, or 5.33 per cent, to $2.13 on 10.9 million shares.
Crescent Point Energy Corp. (TSX:CPG). Energy. Down 26 cents, or 6.12 per cent, to $3.99 on 8.7 million shares.
Aphria Inc. (TSX:APH). Health care. Up $1.06, or 10.3 per cent, to $11.35 on 5.7 million shares.
Bank of Nova Scotia. (TSX:BNS). Financials. Up $1.98, or 2.82 per cent, to $72.13 on 5.3 million shares.
Encana Corp. (TSX:ECA). Energy. Up one cent, or 0.11 per cent, to $9.15 on 5.3 million shares.
Companies reporting major news:
Hudson’s Bay Co. (TSX:HBC). Up 73 cents or 9.3 per cent to $8.60. Activist investor Land and Buildings Investment Management LLC is attacking the Toronto-based retailer’s board again for failing to take decisive action to unlock value for shareholders. In a letter sent to shareholders, Land and Buildings says it believes HBC could double or triple its share price and find benefits by selling Saks Fifth Avenue to a luxury department store company, its remaining 50 per cent interest in its European business to Signa Holding GmbH, and Lord and Taylor to a mass merchant. It also believes HBC should pursue real estate investment trust status for its Canadian real estate and sublease excess space at its Bay department stores.
Royal Bank of Canada. (TSX:RY). Up $2.61 or 2.7 per cent to $98.10. The Royal Bank’s latest quarterly earnings beat expectations with a 15 per cent jump in net income, helped by rising interest rates and U.S. tax reforms, to cap off a year where the lender generated a record annual profit of $12.4 billion. The Toronto-based bank delivered quarterly net income of $3.25 billion or $2.20 per diluted share, up from $1.88 per share a year ago.
Newstrike Brands Ltd. (TSXV:HIP). Up one cent to 45 cents. The Cannabis company struck a deal to create co-branded edibles with specialty foods company Neal Brothers Inc., best known for its chips and salsa. Newstrike will own 60 per cent and Neal Brothers will own 40 per cent of a joint venture that will manufacture, distribute, market and sell cannabis-infused products. The joint venture partners will develop edible cannabis products at Newstrike’s licensed operation in the Niagara community of Lincoln, Ont.
Alimentation Couche-Tard Inc. (TSX:ATD.B). Up $3.18 or 4.8 per cent to $68.93. Couche-Tard says it is keeping an eye on its policies around “lower risk” smoking products after controversial flavoured e-cigarette maker Juul Labs yanked mango, fruit and cucumber flavoured pods from U.S. shelves in a bid to reduce their appeal to minors. The convenience store chain’s CEO Brian Hannasch said Couche-Tard is “excited” by the growth of the market for such tobacco alternatives, but is also watching them closely because products like Juul are “probably too successful” because too many minors have been able to obtain them.
The Canadian Press