Some of the most active companies traded Thursday on the Toronto Stock Exchange:
Toronto Stock Exchange (16,576.10, down 10.42 points).
Bombardier Inc. (TSX:BBD.B). Industrials. Down 44 cents, or 15.07 per cent, to $2.48 on 75.8 million shares.
Encana Corp. (TSX:ECA). Energy. Down 23 cents, or 2.26 per cent, to $9.93 on 6.9 million shares.
Enbridge Inc. (TSX:ENB). Energy. Unchanged at $51.05 on 6.2 million shares.
Manulife Financial Corp. (TSX:MFC). Financials. Up seven cents, or 0.29 per cent, to $24.45 on 5.5 million shares.
Crescent Point Energy Corp. (TSX:CPG). Energy. Down eight cents, or 1.44 per cent, to $5.48 on 4.9 million shares.
Stornoway Diamond Corp. (TSX:SWY). Materials. Down one cent, or 14.29 per cent, to six cents on 4.8 million shares.
Bombardier Inc. — Bombardier Inc. cut its revenue and profit forecast for 2019, citing production problems at its train-making unit, triggering a plunge in the company’s shares Thursday morning as analysts questioned the company’s credibility. The company, which keeps its books in U.S. dollars, said it now expects full-year revenues to be approximately US$17 billion, roughly $1 billion lower than originally anticipated. Most of the shortfall stems from the transportation unit, where revenue is expected to be about $750 million — or 11 per cent — lower due to “slower production ramp-up on certain large projects” as well as unfavourable currency impact, Bombardier said.
Cogeco Communications Inc. (TSX:CCA). Down $1.15 to $88.04. Cogeco Communications says the head of its main U.S. subsidiary, Atlantic Broadband, is leaving after a brief transition to pursue unspecified personal interests. Richard Shea has held senior positions at Atlantic Broadband since its creation in 2003 and has been its president and chief executive officer since 2015. Atlantic Broadband was acquired by Cogeco in 2012 as the Montreal-based cable, internet and communications company’s entry into the United States.
Air Canada (TSX:AC). Up 61 cents or 1.9 per cent to $32.06. Air Canada says it is removing its grounded Boeing 737 Max jets from service until at least Aug. 1 in order to provide more certainty for passengers with summer travel plans. Canada’s largest airline, which had previously scrubbed the planes from schedules until July 1, says it has taken several steps to adjust since Transport Canada banned the 737 Max from Canadian airspace as part of an international response to the fatal March 10 crash of an Ethiopian Airlines plane. Chief commercial officer Lucie Guillemette says the company has “protected 96 per cent of planned flying” through measures that include consolidating flights on larger planes and extending leases on aircraft planned to exit the fleet.
The Canadian Press