TORONTO — Some of the most active companies traded Wednesday on the Toronto Stock Exchange:
Toronto Stock Exchange (17,925.36, up 67.02 points.)
Manulife Financial Corp. (TSX:MFC). Financials. Up 33 cents, or 1.27 per cent, to $26.33 on 12 million shares.
Bombardier Inc. (TSX:BBD.B). Industrials. Down three cents, or 2.01 per cent, to $1.46 on 10.9 million shares.
Suncor Energy Inc. (TSX:SU). Energy. Up 56 cents, or 1.41 per cent, to $40.32 on 9.8 million shares.
Kinross Gold Corp. (TSX:K). Materials. Up 30 cents, or 4.25 per cent, to $7.36 on 5.5 million shares.
Aurora Cannabis Inc. (TSX:ACB). Health care. Up eight cents, or 3.67 per cent, to $2.26 on 5.2 million shares.
Acerus Pharmaceuticals Corp. (TSX:ASP). Health care. Up two cents, or 50 per cent, to six cents on 4.95 million shares.
Companies in the news:
Bausch Health Companies Inc. (TSX:BHC). Down $2.30 or 6.2 per cent to $34.93. Bausch Health Companies Inc. reported a loss of nearly US$1.52 billion in its latest quarter as it settled a lawsuit over a stock plunge that hit investors in 2015. The company, which keeps its books in U.S. dollars, says the net loss amounted to US$4.30 per diluted share for the quarter compared with a net loss of US$344 million, or 98 cents per diluted share, in the same quarter a year earlier. On an adjusted basis, Bausch Health reported a profit of US$404 million for the final quarter of 2019, up from adjusted net income of US$368 million in the fourth quarter of 2018. Revenue totalled $2.224 billion for the quarter, up from $2.121 billion in the same quarter a year earlier.
Stelco Holdings Inc. (TSX:STLC). Up 56 cents or 5.7 per cent to $10.38. Stelco Holdings Inc. swung to a loss in its fourth quarter after challenging market conditions including an “unprecedented” drop in prices. The Hamilton-based steel producer said Wednesday that it lost $24 million or 27 cents per diluted share for the quarter ended Dec. 31, compared with net income of $110 million or $1.23 per diluted for final quarter of 2018. Revenue totalled $435 million, down from $648 million a year earlier. The company said its average steel selling price for the quarter was down 28 per cent compared with last year and steel shipping volumes were down six per cent. Prices were down about 33 per cent from the peak hit in the third quarter last year, but have started to improve this year, the company said.
Nutrien Inc. (TSX:NTR). Up $1 or 1.8 per cent to $55.59. A rebound in global agricultural markets is expected to drive better returns this year after a difficult fourth quarter for fertilizer company Nutrien Ltd., its CEO said Thursday. The last three months of 2019 featured ongoing challenges including geopolitical issues and short-term weather anomalies, said Chuck Magro on a conference call to discuss the Saskatoon-based company’s financial results. Magro said the week-long Canadian National Railway Co. strike in November resulted in a $10-million fourth-quarter earnings hit. Demand for crop inputs is expected to rise in Nutrien’s key North American markets this spring due to an increase in seeded acreage, improved cash crop margins and farmers wanting to catch up on fertilizer applications, he said.
Alimentation Couche-Tard Inc. (TSX:ATD.B). Up 12 cents to $44.10. Alimentation Couche-Tard Inc. is facing a rival bidder for Caltex Australia Ltd. Australia’s largest retail fuel and convenience chain says EG Group Ltd. has made a takeover offer for the company. Under the proposal, Caltex shareholders would receive roughly AU$15.62 in cash and a security in Ampol, which will own Caltex’s fuel and infrastructure business as well as its international trading and shipping operations. Caltex says EG has also indicated that it is prepared to consider acquiring up to 10 per cent of Ampol for additional cash consideration. Quebec-based Couche-Tard raised its offer for all of Caltex last week to AU$35.25 per share in cash less any dividends declared or paid.
This report by The Canadian Press was first published Feb. 19, 2020.
The Canadian Press