Some of the most active companies traded Thursday on the Toronto Stock Exchange:
Toronto Stock Exchange (15.999.01 down 75.29 points).
Encana Corp. (TSX:ECA). Energy. Up 61 cents, or 6.74 per cent, to $9.66 on 18.8 million shares.
Bombardier Inc. (TSX:BBD.B). Industrials. Up 17 cents, or 6.46 per cent, to $2.80 on 15.8 million shares.
Aurora Cannabis Inc. (TSX:ACB). Health care. Up four cents, or 0.4 per cent, to $9.92 on 11.3 million shares.
The Toronto-Dominion Bank. (TSX:TD). Financials. Down $1.84 or 2.38 per cent, to $75.46 on 7 million shares.
Barrick Gold Corp. (TSX:ABX). Materials. Up 17 cents, or 1.03 per cent, to $16.60 on 6.2 million shares.
Zargon Oil & Gas Ltd. (TSX:ZAR). Energy. Up one cent, or 33.33 per cent, to four cents to 6.1 million shares.
The Canadian Imperial Bank of Commerce (TSX:CM) (Down $3.10 or 2.7 per cent to $111.63) and Toronto-Dominion Bank — The banks delivered first-quarter profits that fell short of expectations, as both lenders saw a decline in capital markets’ earnings and recorded a hefty charge related to their partnership with Air Canada’s new loyalty program. Both CIBC and TD hiked their dividend Thursday as their latest results capped off a relatively tough earnings season for Canada’s biggest lenders.
Encana Corp. — Encana cut its total workforce by 15 per cent and reduced its ranks of executives by 35 per cent in just over a week after closing its deal to buy U.S. rival Newfield Exploration Co. in mid-February. The move has put Calgary-based Encana, which reports its results in U.S. dollars, on track to realize its vowed annual savings of $250 million from the acquisition, CEO Doug Suttles said on a conference call on Thursday.
Cascades Inc. (TSX:CAS). Down 93 cents or 9.55 per cent to $8.81. Cascades is closing two tissue paper machines in Ontario. The company says the leases for the operations in Whitby and Scarborough expire on Aug. 27 and will not be renewed. The two sites employ a total of 68 workers and produce 44,000 tonnes of tissue paper annually. The company says it will try to relocate as many of its employees as possible to its other operations in the region.
Air Canada (TSX:AC). Down $1.16 or 3.4 per cent to $33.11. Air Canada has boosted its profit forecast for 2019 while foreseeing fatter margins and heavier free cash flow over the next three years. The Montreal-based company predicted annual margins on earnings before interest, taxes, depreciation and amortization of between 19 per cent and 22 per cent through 2021. The airline also said it expects cumulative free cash flow of between $4 billion and $4.5 billion from 2019 until 2021, beating the previous guidance of between $2 billion and $3 billion.
Maple Leaf Foods Inc. (TSX:MFI). Down 83 cents or 2.9 per cent to $27.75. Maple Leaf Foods called 2018 a challenging year with essentially flat sales, but one that sets it up for a successful future as it touted itself as a leader in plant-protein products. Global trading relationships created unprecedented volatility that reverberated across the pork industry, said Michael McCain. In January, the company launched a new pea-protein Lightlife burger, first with American food service companies.
The Canadian Press