Some of the most active companies traded Thursday on the Toronto Stock Exchange:
Toronto Stock Exchange (16,410.88, down 91.87 points).
Bombardier Inc. (TSX:BBD.B). Industrials. Down 12 cents, or 5.13 per cent, to $2.22 on 22.3 million shares.
CannTrust Holdings Inc. (TSX:TRST). Health care. Down $1.09, or 12.57 per cent, to $7.58 on 10 million shares.
Manulife Financial Corp. (TSX:MFC). Down eight cents, or 0.32 per cent, to $24.62 on 7.7 million shares.
Sherritt International Corp. (TSX:S). Materials. Up one cent, or five per cent, to 21 cents on 7.1 million shares.
Encana Corp. (TSX:ECA). Energy. Down 22 cents, or 2.45 per cent, to $8.77 on 6.9 million shares.
Aurora Cannabis Inc. (TSX:ACB). Health care. Down 30 cents, or 2.48 per cent, to $11.81 on 6.9 million shares.
Bombardier Inc. — Bombardier Inc. is looking to sell its aerostructures businesses in Belfast and Morocco as part of a consolidation of its aerospace business into a single unit. The company said Thursday the newly created Bombardier Aviation division will include its business aircraft business as well as its CRJ regional jets. Some 3,900 employees are expected to wind up in the hands of a prospective buyer. The would-be sale also means Bombardier would stop building the wings of the A220 jet, formerly known as the C Series and now controlled by Airbus SE. The company reported a first-quarter profit of US$239 million as revenue fell to $3.52 billion.
Manulife Financial Corp. — Tensions between Ottawa and Beijing have not had a direct impact on Manulife Financial Corp.’s business in China, chief executive Roy Gori said Thursday, adding that he expects its franchise in the Asian country to remain strong. Gori told the company’s annual meeting that Manulife continues to work closely with relevant stakeholders and regulatory authorities to ensure it “can navigate this as well as we can.” Gori’s comments come after Canada’s biggest insurer reported first-quarter earnings that surged on strong growth in Asia, particularly in Japan where sales among corporate clients jumped ahead of potential tax changes.
BCE Inc. (TSX:BCE). Down 27 cents to $59.78. BCE Inc. said Thursday that its wireless business performed well in the first quarter, with its revenue up 4.5 per cent, helped by improved subscriber retention and higher average revenue per user. Chief executive George Cope acknowledged in a conference call that the first quarter is usually a seasonally slow sales period for wireless, but Bell has been helped by a government contract that began to roll out last year. Its first-quarter profit was up 12 per cent to $740 million as revenue improved by 2.6 per cent to $5.73 billion.
SNC-Lavalin Group Inc. (TSX:SNC). Down $4.38, or 13.13 per cent to $28.97. The head of SNC-Lavalin Group Inc. said the company will wind down its operations in 15 countries and swear off bidding on fixed-price contracts in the mining industry as it reported a loss in its latest quarter. CEO Neil Bruce noted the company is undergoing an organizational revamp, combining its oil and gas business with its mining unit as part of a cost-reduction program under chief operating officer Ian Edwards, who was appointed in late January. The engineering and construction giant said it lost $17.3 million on $2.36 billion of revenues.
Suncor Energy Inc. (TSX:SU). Down $1.14 or 2.6 per cent to $42.61. Suncor Energy Inc. remains opposed to the Alberta government-ordered oil production curtailments, but new CEO Mark Little conceded Thursday the program was actually “slightly positive” for the company’s financial results in the first quarter. The Calgary-based oilsands producer and refining giant reported net income for the first three months of the year that beat analyst expectations thanks to higher oil prices, record downstream results, growing oilsands production and a $264-million after-tax insurance gain on its assets in Libya. The company reported net earnings of $1.47 billion.
The Canadian Press