TORONTO — Some of the most active companies traded Tuesday on the Toronto Stock Exchange:
Toronto Stock Exchange (13,940.06, down 448.22 points.)
StageZero Life Sciences Ltd. (TSX:SZLS). Health care. Up 5.5 cents, or 68.75 per cent, to 13.5 cents on 24.3 million shares.
Royal Bank of Canada (TSX:RY). Financials. Down $3.08, or 3.55 per cent, to $83.73 on 12.45 million shares.
Bombardier Inc. (TSX:BBD.B). Industrials. Down one cent, or 2.38 per cent, to 41 cents on 12.3 million shares.
Cenovus Energy Inc. (TSX:CVE). Energy. Up three cents, or 0.81 per cent, to $3.73 on 11 million shares.
Manulife Financial Corp. (TSX:MFC). Down 85 cents, or 4.96 per cent, to $16.27 on 9.1 million shares.
Baytex Energy Corp. (TSX:BTE). Energy. Down half a cent, or 1.61 per cent, to 30.5 cents on 7.9 million shares.
Companies in the news:
Air Canada (TSX:AC). Down 37 cents or two per cent to $17.75. Air Canada says it will cancel all flights to the U.S. after Ottawa extended its border closure with the United States by 30 days. The country’s largest airline says scheduled service south of the border will be suspended from April 27 through May 21. Since mid-March, Air Canada has cut its capacity by more than 90 per cent, cancelling thousands of flights as borders closed and travel demand fell off a cliff.
Teck Resources Ltd. (TSX:TECK.B). Down 55 cents or 5.2 per cent to $10.03. Measures taken to deal with the COVID-19 pandemic and low commodity prices are being blamed by Teck Resources Ltd. for a first-quarter loss attributable to shareholders of $312 million. The Vancouver-based miner said it is taking a $474-million writedown on its share in the Fort Hills oilsands mine. It also reported $44 million in unexpected COVID-19 related expenditures, with $32 million of that due to the ongoing suspension of construction at its US$5.2-billion Quebrada Blanca Phase 2 copper mine project in Chile.
Canadian Pacific Railway Ltd. (TSX:CP). Down $3.15 or one per cent to $305.50. Canadian Pacific Railway Ltd. is revising its financial guidance for the year and lowering its expectations as a result of the fallout from the COVID-19 pandemic. The company is forecasting that revenue tonne miles — a key industry metric — will fall by mid-single digits and that adjusted diluted earnings per share will remain flat in 2020. In the first quarter, CP Rail says net income dropped to $409 million from $434 million in the same period last year.
Precision Drilling Corp. (TSX:PD). Down three cents or 6.8 per cent to 41 cents. The CEO of one of Canada’s largest drilling rig contractors says plunging North American crude prices are signs that the oil industry is headed for a “deep, deep collapse.” The U.S. benchmark West Texas Intermediate oil future contracts for June fell more than 57 per cent in just two days. The contract for May delivery fell US$55.90 on Monday to US-$37.63 per barrel — which means contract holders were paying others to take the oil off their hands. Precision Drilling Corp. CEO Kevin Neveu says watching WTI fall negative for the first time in history on Monday was “shocking” for a longtime oil industry participant.
This report by The Canadian Press was first published April 21, 2020.
The Canadian Press