TORONTO — Some of the most active companies traded Tuesday on the Toronto Stock Exchange:
Toronto Stock Exchange (17,011.40, down 13.71 points.)
Aurora Cannabis Inc. (TSX:ACB). Health care. Up 11 cents, or 3.67 per cent, to $3.11 on 26.4 million shares.
Enbridge Inc. (TSX:ENB). Energy. Down 32 cents, or 0.64 per cent, to $49.94 on 7.1 million shares.
Manulife Financial Corp. (TSX:MFC). Financials. Up 12 cents, or 0.46 per cent, to $26.08 on 7 million shares.
Encana Corp. (TSX:ECA). Energy. Down 24 cents, or 4.36 per cent, to $5.26 on 5.8 million shares.
The Green Organic Dutchman Holdings. (TSX:TGOD). Health care. Up eight cents, or 12.31 per cent, to 73 cents on 5.7 million shares.
Aphria Inc. (TSX:APHA). Health care. Up 65 cents, or 12.92 per cent, to $5.68 on 5.5 million shares.
Companies in the news:
Canadian National Railway. (TSX:CNR). Down $1.11 to $122.65. A growing number of industries are sounding the alarm over a strike by roughly 3,200 Canadian National Railway Co. workers, warning the work stoppage will dent revenues and could trigger layoffs and closures. The Teamsters Canada Rail Conference announced the strike Monday night after the two parties failed to reach a deal by the midnight deadline. Conductors, trainpersons and yard workers took to the picket lines Tuesday, halting freight trains across the country after CN confirmed last week it was cutting jobs as it deals with a weakening North American economy that has eroded demand. The work stoppage triggered worries among grain elevator operators and farmers — more than 90 per cent of grain is moved by rail — about lost sales and contract penalties.
Encana Corp. (TSX:ECA).— A Canadian investment management firm with a four per cent stake in Calgary-based Encana Corp. says it will vote against Encana’s plan to move its headquarters to the United States. Letko, Brosseau & Associates Inc. says the planned move to Denver would lead to Encana’s removal from S&P/TSX stock indexes. That would mean investors holding Encana through indexed Canadian funds or with Canadian-only investment policies would have to sell Encana shares, a move the investor says would compound the 70 per cent decline in share price experienced since Sept. 30, 2018. Encana recently announced the headquarters move as part of a reorganization that would include changing its name to Ovintiv, as well as a share consolidation.
George Weston Ltd. (TSX:WN). Up 60 cents to $105.08. The parent company of one of Canada’s largest grocers outperformed analyst expectations as its third-quarter profit rose while the company works through its multi-year transformation plan. George Weston Ltd.’s third-quarter results are “a full baguette higher than forecast,” wrote Irene Nattel, an RBC Dominion Securities Inc. analyst, in a note. The retail, bakery and real estate business announced Tuesday that its quarterly profit attributable to common shareholders for the 16 weeks ended Oct. 5 was $69 million or 44 cents per diluted share. That compared with a profit of $51 million attributable to common shareholders, or 40 cents per diluted share, in the same quarter last year.
TC Energy Corp. (TSX:TRP). Up five cents to $67.98. TC Energy Corp. is looking at “optimizing” unaffected parts of its Keystone pipeline and will use drag reducing agents to ease volume losses following a spill in North Dakota, Paul Miller, vice-president of liquids pipelines, reported Tuesday. The pipeline was restarted at lower pressure and capacity last week after being offline for almost two weeks following a leak that spilled an estimated 1.4 million litres or 9,100 barrels of oil in a field near Edinburg, N.D. It’s unknown when U.S. regulators will allow it to return to full pressure, said Miller, speaking at the energy transport and power company’s investor day. He said it will take about two months for an independent lab to complete its analysis of the damaged section of pipe that was removed and replaced.
This report by The Canadian Press was first published Nov. 19, 2019.
The Canadian Press