TORONTO — Some of the most active companies traded Friday on the Toronto Stock Exchange:
Toronto Stock Exchange (14,966.56, up 132.87 points.)
Freegold Ventures Ltd. (TSX:FVL). Materials. Up 11 cents, or 47.83 per cent, to 34 cents on 28 million shares.
Bombardier Inc. (TSX:BBD.B). Industrials. Down one cent, or 2.22 per cent, to 44 cents on 18.9 million shares.
Shaw Communications Inc. (TSX:SJR.B). Telecommunications. Up 39 cents, or 1.73 per cent, to $22.98 on 13.9 million shares.
Manulife Financial Corp. (TSX:MFC). Financials. Up 68 cents, or 4.15 per cent, to $17.08 on 13.1 million shares.
Enbridge Inc. (TSX:ENB). Energy. Up three cents, or 0.07 per cent, to $44.65 on 12 million shares.
Suncor Energy Inc. (TSX:SU). Energy. Up 66 cents, or 2.85 per cent, to $23.83 on 9.5 million shares.
Companies in the news:
Recipe Unlimited Corp. (TSX:RECP). Down 68 cents, or 5.7 per cent, to $11.32. The parent company of Swiss Chalet and other chains saw a more than $100-million drop in sales in its most recent quarter due to the COVID-19 pandemic, which prompted Recipe Unlimited Corp. to suspend its quarterly dividend for the year. The temporary suspension includes the first-quarter dividend payment, which was scheduled to be paid June 15, the company said in a statement released late Thursday. In the 13 weeks ending March 29, Recipe saw system sales fall by $103.5 million, or 12.2 per cent, to $747.2 million with $109.5 million due to the impact of COVID-19.
Hydro One Ltd. (TSX:H). Up 13 cents to $25.57. Hydro One Ltd. reported a first-quarter profit of $225 million, up from a profit of $171 million a year ago. The power utility says the profit amounted to 38 cents per diluted share for the quarter ended March 31 compared with a profit of 29 cents per diluted share a year ago. Revenue totalled $1.85 billion, up from nearly $1.76 billion in the same quarter last year. On an adjusted basis, Hydro One says it earned 38 cents per diluted share for the quarter compared with an adjusted profit of 52 cents per diluted share in the first quarter of 2019. The company says the drop in adjusted earnings per share was driven by a retroactive 2018 rate increase recorded in 2019 following an Ontario Energy Board decision.
Brookfield Asset Management Inc. (TSX:BPY.UN). Up 56 cents, or 4.5 per cent, to $13.08. Brookfield Property Partners says it swung to a net loss in the first quarter as it adjusted asset values across its portfolio. The company, a subsidiary of Brookfield Asset Management Inc., says it had a net loss of US$373 million, or 49 cents per unit, in the quarter ending March 31, compared with net earnings of US$713 million or 32 cents for the same quarter last year. Brookfield says rent collections across its global retail portfolio were about 20 per cent starting in April, though it says it is working with tenants on payment plans. The firm also notes that it is in the process of opening up 50 of its U.S. retail centres as parts of the country begin to relax restrictions.
Toronto-Dominion Bank (TSX:TD). Up 78 cents to $57.03. Toronto-Dominion Bank says it expects to take a provision for credit losses related to its U.S. retail banking business of roughly $1.1 billion (US$800 million) in its second quarter due to the pandemic. The charge related to funds set aside to cover potentially bad loans comes as the steps taken to slow the spread of COVID-19 have devastated the economy and thrown millions of people out of work. The bank says it is also expected that the corporate segment will record about $600 million (US$400 million) in provisions for credit losses for the quarter ended April 30. However, it says the losses in the corporate segment consists primarily of the retailer partners’ share of provisions for credit losses for the bank’s U.S. strategic card portfolio.
This report by The Canadian Press was first published May 8, 2020.
The Canadian Press