Some of the most active companies traded Monday on the Toronto Stock Exchange:
Toronto Stock Exchange (16,493.46, down 0.97 points).
Baytex Energy Corp. (TSX:BTE). Energy. Unchanged at $2.80 on 8.2 million shares.
Aurora Cannabis Inc. (TSX:ACB). Health care. Up 15 cents, or 1.27 per cent, to $11.95 on 7.6 million shares.
Encana Corp. (TSX:ECA). Energy. Up 16 cents, or 1.77 per cent, to $9.22 on 5.9 million shares.
Crescent Point Energy Corp. (TSX:CPG). Energy. Up 10 cents, or 2.04 per cent, to $5 on 5.8 million shares.
Sherritt International Corp. (TSX:S). Materials. Down one cent, or 4.44 per cent, to 21.5 cents on 5 million shares.
Bombardier Inc. (TSX:BBD.B). Industrials. Down eight cents, or 3.49 per cent, to $2.21 on 4.9 million shares.
Air Canada (TSX:AC). Up $1.66 or 4.9 per cent to $35.28. The Boeing 737 Max grounding continues to weigh on Air Canada’s bottom line, the company said Monday, despite topping expectations in a quarter elevated by more passengers and a newly acquired loyalty program. Chief financial officer Michael Rousseau said there’s been a reduction in seat capacity of between three per cent and four cent due to the grounding, which continues across the globe as the Max jetliner’s flight control system remains under scrutiny following two deadly crashes. The Montreal-based carrier earned $345 million or $1.26 per diluted share for its first quarter, compared with a loss of $203 million or 74 cents per diluted share in the same quarter a year ago.
Bausch Health Companies Inc. (TSX:BHC).Up $2.88 or 9.2 per cent to $34.31. Bausch Health Companies raised its guidance after higher sales at its biggest subsidiary mitigated the blow of a US$52-million loss in its first quarter. Bausch & Lomb, a segment that generates more than half of the drug company’s revenue, saw revenue rise eight per cent to US$1.12 billion, after adjusting for foreign exchange, divestitures and discontinuations, according to the company. Bausch said its earnings loss amounted to 15 cents per share compared with a loss of $2.58 billion or $7.36 per share a year earlier. Revenue totalled nearly $2.02 billion for the first quarter of 2019, up from nearly $2 billion in the first quarter of 2018.
Hudson’s Bay Co. (TSX:HBC). Up 18 cents, or 2.44 per cent, to $4.57. Hudson’s Bay Co. says it’s pursuing strategic alternatives for its Lord and Taylor business, including a possible sale or merger. HBC says Lord and Taylor had $1.4 billion in annual revenue in 2018. The Lord & Taylor chain has more than 40 stores in the northeastern and mid-Atlantic regions of the United States as well as its online business. HBC chief executive Helena Foulkes says the retailer is exploring options to position itself for long-term success. HBC previously announced in February that its Canadian retail banner, Home Outfitters, will be discontinued and its 37 locations will be closed this year and that about 20 Saks Off Fifth locations will be closed in the United States.
Canopy Growth. (TSX:WEED). Up 32 cents to $66.15. A U.S. hedge fund says it will vote against Canopy Growth’s proposed acquisition of Acreage Holdings, saying the US$3.4-billion offer is “substantially lower” than the U.S. cannabis company’s worth. Marcato Capital Management, which manages funds that own roughly 2.7 per cent of Acreage’s outstanding shares, says the deal is “unbelievably lopsided” in favour of the Canadian cannabis company. The San Francisco-based activist investor adds in its letter to Acreage’s board that its strategic value as one of the few multi-state operators in the U.S. merits a “significant premium.”
The Canadian Press