Some of the most active companies traded Tuesday on the Toronto Stock Exchange:
Toronto Stock Exchange (16,166.24, up 150.35 points).
Husky Energy Inc. (TSX:HSE). Energy. Up 32 cents, or 2.53 per cent, to $12.96 on 10.5 million shares.
Aurora Cannabis Inc. (TSX:ACB). Health care. Up 92 cents, or 9.54 per cent, to $10.56 on 8.2 million shares.
Encana Corp. (TSX:ECA). Energy. Up two cents, or 0.28 per cent, to $7.19 on 5.8 million shares.
Enbridge Inc. (TSX:ENB). Energy. Up 46 cents, or 0.97 per cent, to $47.88 on 5.6 million shares.
Suncor Energy Inc. (TSX:SU). Energy. Down 17 cents, or 0.42 per cent, to $40.52 on 5.5 million shares.
Manuflife Financial Corp. (TSX:MFC). Financials. Up 71 cents, or 3.11 per cent, to $23.53 on 5 million shares.
Companies in the news:
Transat AT (TSX:TRZ). — Quebec real estate developer Group Mach Inc. has outbid Air Canada by offering a $527.6-million takeover proposal for tour operator Transat AT Inc. which includes trying to convince the Quebec government to finance nearly one-quarter of the purchase. The $14 per share offer comes after Transat announced last month it was in exclusive 30-day negotiations to be acquired by Air Canada for $13 per share or about $520 million. Trading in Transat shares was halted Tuesday morning. The shares closed at $11.84 on the Toronto Stock Exchange on Monday.
Canadian National Railway Co. (TSX:CNR). Up 70 cents to $121.14. The head of CN Rail says major asset purchases will play a key role in fulfilling its new three-year financial target that exceeds its earlier 10-per-cent earnings per share growth. At Tuesday’s investor day in Toronto, Jean-Jacques Ruest stressed “an offensive play, mergers and acquisitions,” after years of focusing on organic growth. The Montreal-based railway’s bumped-up profit forecast for 2020 to 2022 exceeds its prior target of 10-per-cent annual growth, while it reiterated its 2019 goal of low double-digit growth.
DHX Media (TSX:DHX). Up 21 cents or 11.8 per cent to $1.99. DHX Media says Indian company Sakthi Global Holdings has made an unsolicited offer for the company. Financial terms of the proposal were not immediately available. DHX says it will consider and evaluate any formal offer received in due course. It cautioned that there could be no certainty that a deal will take place. DHX is a producer and distributor of child and youth-oriented programming, such as Peanuts and other animation and the Degrassi live-action franchise.
Air Canada (TSX:AC). Up 25 cents to $39.41. Air Canada has signed an agreement with Drone Delivery Canada Corp. to help market and sell drone delivery services. Under the terms of the deal, Air Canada Cargo will market and sell drone delivery services across Canada. Air Canada Cargo has also agreed that it won’t use or engage with any other drone delivery service providers. The initial term of the agreement is for 10 years. Tim Strauss, vice-president of cargo at Air Canada, says drones have the potential to offer cost-effective solutions in non-traditional markets, including remote communities.
The Canadian Press