TORONTO — Some of the most active companies traded Thursday on the Toronto Stock Exchange:
Toronto Stock Exchange (17,821.17, down 11.68 points.)
Bombardier Inc. (TSX:BBD.B). Industrials. Up 10 cents, or 6.37 per cent, to $1.67 on 32.3 million shares.
Enbridge Inc. (TSX:ENB). Energy. Down $1.38, or 2.42 per cent, to $55.75 on 14.6 million shares.
Manulife Financial Corp. (TSX:MFC). Financials. Down 47 cents, or 1.77 per cent, to $26.15 on 13.7 million shares.
Aurora Cannabis Inc. (TSX:ACB). Health care. Up four cents, or 2.08 per cent, to $1.96 on 11.4 million shares.
Suncor Energy Inc. (TSX:SU). Energy. Down four cents, or 0.1 per cent, to $39.12 on 10.3 million shares.
Barrick Gold Corp. (TSX:ABX). Materials. Up 73 cents, or 2.99 per cent, to $25.12 on 7.6 million shares.
Companies in the news:
Bombardier Inc. — Bombardier Inc. is selling its remaining stake in the A220 jetliner program, a move that signals its exit from the commercial aviation market and positions the company to better deal with its towering debt load. The plane-and-train maker said Thursday it has signed an agreement with Airbus SE and the Quebec government that hands Airbus a 75 per cent share in the A220 partnership, up from just over 50 per cent, while Quebec’s stake rises to 25 per cent, from 16 per cent. In exchange, Airbus gives Bombardier US$591 million, including US$531 million immediately. The agreement also frees Bombardier from $700 million in upcoming spending on the A220, which it launched as the C Series before selling a majority stake to Europe-based Airbus in 2018.
Aurora Cannabis Inc. — Aurora Cannabis Inc.’s second-quarter earnings were weighed down by a drop in cannabis production, and the costs associated with ramping up efforts to roll out cannabis edibles and vapes. The Edmonton-based company revealed Thursday that it incurred a loss in its second quarter and that its net revenue for the three months ended Dec. 31 was $56 million, up from $54.2 million a year earlier but down from roughly $75 million in the prior quarter ended Sept. 30. The company says its net loss for the quarter amounted to $1.3 billion or $1.18 per share, compared with a loss of $239.6 million or 25 cents per share a year earlier. It earned $10.3 million in the first quarter.
Manulife Financial Corp. — Two of Canada’s largest insurance companies got lifts from the Asian market in their latest quarter. Sun Life Financial Inc. said its overall net income surged 24 per cent to $719 million in its fourth quarter, with its Asian operations contributing $136 million or nine per cent more than in the same period the year before. The earnings come as Sun Life — like many other insurers — have been focusing increasing attention on the Asian market. Meanwhile, Manulife Financial Corp. boosted its quarterly dividend 12 per cent after it capped a stronger 2019 with double-digit growth in Asia.
Telus Corp. (TSX:T). Down 82 cents or 1.5 per cent to $54.53. Telus Corp. won’t “pre-announce” details of its launch of fifth-generation wireless services and devices, chief executive Darren Entwistle told analysts Thursday, citing the intensely competitive marketplace that it’s facing. His reluctance to say when Telus will have 5G phones and services ready is a contrast to this week’s announcements that Rogers and Bell Canada will have several models of Samsung 5G phones for sale on March 6. Entwistle said he wanted to signal that Telus has a philosophy of focusing on making sure its execution will be right before announcing a new product or service.
Canadian Tire Corp. (TSX:CTC.A). Up $1.45 or one per cent to $146.30. Canadian Tire Corp.’s chief executive assured analysts that the retailer has yet to experience any supply issues due to the novel coronavirus outbreak, but longer-term impacts remain unclear. The company does not have any “active vendors in the quarantined area,” CEO Stephen Wetmore told analysts. He noted Canadian Tire is “well stocked here going through for a number of months” and that the company has done business in China for decades and has strong relationships there.
This report by The Canadian Press was first published Feb. 13, 2020.
The Canadian Press
