TORONTO — Some of the most active companies traded Thursday on the Toronto Stock Exchange:
Toronto Stock Exchange (17,757.49, up 105.90 points.)
Bombardier Inc. (TSX:BBD.B). Industrials. Down four cents, or 2.72 per cent, to $1.43 on 15.3 million shares.
Enbridge Inc. (TSX:ENB). Energy. Up 40 cents, or 0.72 per cent, to $55.98 on 10.6 million shares.
Suncor Energy Inc. (TSX:SU). Energy. Down $1.51, or 3.68 per cent, to $39.49 on 6.6 million shares.
Zenabis Global Inc. (TSX:ZENA). Health care. Up half a cent, or 4.17 per cent, to 12.5 cents on 5.2 million shares.
Baytex Energy Corp. (TSX:BTE). Energy. Unchanged at $1.47 on 4.2 million shares.
Aurora Cannabis Inc. (TSX:ACB). Health care. Down 14.5 cents, or 5.16 per cent, to $2.66 on 4 million shares.
Companies in the news:
SNC-Lavalin Group Inc. (TSX:SNC). Down 16 cents to $32.76. A Quebec oversight body has blacklisted four subsidiaries of SNC-Lavalin Group Inc. from bidding on public contracts in the province for five years. The ban by the Autorite des marches publics was triggered after the engineering giant’s construction division pleaded guilty in December to one count of fraud in connection with business dealings in Libya. An SNC-Lavalin spokesman said the company’s shift away from large construction contracts toward its engineering roots minimizes the potential damage of a bidding ban.
Suncor Energy Inc. — Suncor Energy Inc.’s on-again, off-again plan to add a coker unit to its Montreal refinery to allow it to process heavier barrels of oil, including oilsands bitumen, is off the table as it shuffles its spending priorities. The $2-billion project has been shelved as the company focuses on low-cost oilsands expansions, projects that will help reduce emissions and cost-cutting digital technologies, CEO Mark Little said Thursday on a conference call to discuss fourth-quarter results. Little said the company is listening to investors as it aims to generate more free cash flow while keeping spending in check. Suncor also elected to defer sanctioning of its proposed 40,000-barrel-per-day Meadow Creek oilsands project, which would produce bitumen from wells, until 2023 at the earliest, Little said.
Heroux-Devtek Inc. (TSX:HRX). Up 76 cents or 3.7 per cent to $21.28. Heroux-Devtek Inc. saw recent acquisitions boost sales by nine per cent year over year last quarter, as renewed confidence in its defence division spurred a higher revenue forecast. Last year the company bought landing gear maker Alta Precision and surface treatment provider Tekalia, both based in Montreal. Despite a slight decline in Heroux-Devtek’s profit margin, the two companies accounted for the vast majority of growth in revenue, which rose nine per cent year over year to $157.3 million in the quarter ended Dec. 31. Net income hit $8.7 million in the third quarter, up from $7.4 million in the same period in 2018.
Lightspeed POS Inc. (TSX:LSPD). Down $5.86 or 13.2 per cent to $38.38. Technology firm Lightspeed POS Inc. missed earnings expectations despite cutting its net loss in the third quarter as its revenues surged 60 per cent. The Montreal-based company, which reports in U.S. dollars, says it lost US$15.8 million or 18 cents per share, compared with a loss of US$71.1 million of US$2.37 per share a year ago. Revenue for the quarter ended Dec. 31 grew to US$32.3 million from US$20.1 million in the third quarter of 2018. Lightspeed was expected to lose US$6.4 million or nine cents per share on US$32.1 million of revenues, according to financial markets data firm Refinitiv.
Saputo Inc. (TSX:SAP). Down six cents to $41.27. Saputo Inc. says it will close its facilities in Trenton, Ont., and Saint John, N.B. The closures are scheduled for September this year and January 2021, respectively. The dairy and cheese company estimates approximately 280 employees will be impacted. The production of both these sites will be integrated into other Saputo facilities across Canada and some affected employees will be offered the possibility of transferring to other Saputo locations within the dairy division. The announcement came as Saputo reported a third-quarter profit of $197.8 million or 48 cents per diluted share compared with a profit of $342.0 million or 87 cents per diluted share a year ago. Revenue totalled $3.89 billion, up from $3.58 billion.
This report by The Canadian Press was first published Feb. 6, 2020.
The Canadian Press