Some of the most active companies traded Thursday on the Toronto Stock Exchange:
Toronto Stock Exchange (16,018.65, down 152.41)
Bombardier Inc. (TSX:BBD.B). Industrials. Down three cents, or 6.19 per cent, to $0.46 on 10.58 million shares.
Kelt Exploration Ltd. (TSX:KEL). Energy. Up 17 cents, or 9.44 per cent, to $1.97 on 9.42 million shares.
Suncor Energy Inc. (TSX:SU). Energy. Down 93 cents, or 3.88 per cent, to $23.04 on 7.7 million shares.
Manulife Financial Corp. (TSX:MFC). Financials. Down 10 cents, or 0.53 per cent, to $18.90 on 7.7 million shares.
Kinross Gold Corp. (TSX:K). Basic Materials. Down 32 cents, or 2.82 per cent, to $11.02 on 6.81 million shares.
B2Gold Corp. (TSX:BTO). Materials. Down 33 cents, or 3.66 per cent, to $8.69 on 6.38 million shares.
Companies in the news:
Loblaw Companies Ltd. (TSX:L). Up $1.04, or 1.52 per cent, to $69.46. Loblaw Companies Ltd. saw its net income fall in its most recent quarter, despite revenue growth, because of costs related to working through the COVID-19 pandemic, including a temporary pay bump for workers and investments into its e-commerce business. Loblaw’s revenue for the three months ended June 13 rose 7.4 per cent to nearly $12 billion, from $11.1 billion in the second quarter of 2019. Earnings attributable to shareholders fell 41 per cent to $169 million or 47 cents per diluted share from $286 million or 77 cents per share a year earlier. Excluding one-time items, adjusted profits were $266 million or 74 cents per share, compared with $373 million or $1.01 per share in the prior year.
Precision Drilling Corp. (TSX:PD) Down $0.01, or 1.15 per cent, to $0.86. Precision Driling Corp. says a sharp decline in North American oilfield activity in the second quarter meant more layoffs, contract terminations and parked drilling rigs. It reported a net loss of $48.9 million, compared with a loss of $13.8 million in the same period last year, as revenue fell by 47 per cent to $190 million amid a plunge in oil prices. It reported adjusted earnings of $58 million, compared with $81 million in the year-earlier period.
Teck Resources Ltd. (TSX:TECK.B) Up $1.00, or 6.9 per cent, to $15.50. Teck Resources Ltd. saw profits fall by 165 per cent last quarter as the COVID-19 pandemic dented demand for its commodities and slashed prices. The second quarter yielded a loss of $149 million for the Vancouver-based miner, which was forced to shut down operations and halt construction at some sites. All mines are now producing, and the company has issued an updated guidance after suspending it in April. The forecast states that coal, copper, zinc and crude oil production in the second half of 2020 will reach volumes at or close to pre-pandemic predictions as industry ramps back up following lockdown closures.
Corus Entertainment Inc. (TSX:CJR.B) Down $0.08, or 3.21 per cent, to $2.41. Global News is cutting some of its workforce in a “significant” restructuring. The Canadian news organization owned by Corus Entertainment Inc. confirmed it has laid off staff in an email to The Canadian Press, but declined to provide exact numbers. Corus executive vice-president of broadcast networks Troy Reeb attributed the layoffs to challenges faced by the news industry in recent years, including regulatory restraints, a lack of government support, advertising losses and most recently, COVID-19.
This report by The Canadian Press was first published July 23, 2020.
The Canadian Press