TORONTO — Some of the most active companies traded Thursday on the Toronto Stock Exchange:
Toronto Stock Exchange (16,579.10, up 77.49 points.)
Osisko Mining Inc. (TSX:OSK). Basic Materials. Down 42 cents, or 8.99 per cent, to $4.25 on 36.89 million shares.
Enbridge Inc. (TSX:ENB). Energy. Up 37 cents, or 0.85 per cent, to $44.02 on 13.11 million shares.
Manulife Financial Corp (TSX:MFC). Financials. Up 60 cents, or 3.19 per cent, to $19.43 on 12.4 million shares.
Bombardier Inc. (TSX:BBD.B). Industrials. Unchanged at $0.43 on 10.73 million shares.
B2Gold Corp. (TSX:BTO). Basic Materials. Down six cents, or 0.62 per cent, to $9.69 on 6.75 million shares.
Suncor Energy Inc. (TSX:SU). Energy. Down 22 cents, or one per cent, to $21.85 on 6.22 million shares.
Companies in the news:
Bombardier Inc. (TSX:BBD.B). Unchanged at $0.43. Bombardier Inc. says its net loss surged to US$223 million in the second quarter on a big drop in revenues due to pandemic related disruptions. The Montreal-based transportation company, which reports in U.S. dollars, says it lost 13 cents per diluted share, compared with a loss of four cents per share or $36 million a year earlier. The adjusted loss was $631 million or 30 cents per share, versus a loss of $47 million or four cents per share in the second quarter of 2019.
BCE Inc. (TSX:BCE). Up 69 cents, or 1.22 per cent, to $57.07. The parent of Bell Canada says its second-quarter profit was down nearly 70 per cent from the same time last year due to the pandemic’s impact on economic activity and customer demand. Amid widespread closures that kept many employees and children at home, Bell added 50,121 wireless, residential internet and IPTV customers during the quarter — but expenses rose. BCE Inc. says its net income attributable to common shareholders dropped to $237 million for the three months ended June 30, from $761 million a year earlier. That amounted to 26 cents per share of net earnings, down from 85 cents per share in last year’s second quarter.
Bausch Health Companies Inc. (TSX:BHC). Up $1.02, or 3.95 per cent, to $26.83. Bausch Health Companies Inc. says it plans to spin off its iconic eye care business into an independent publicly traded company. The Quebec-based pharmaceutical company says the spin off of Bausch + Lomb would allow it to focus on its gastroenterology, aesthetics/dermatology, neurology and international pharma business. The move comes after the former Valeant Pharmaceuticals sold about US$4 billion in non-core assets, paid down more than US$8 billion of debt, resolved many legacy legal issues and lost patent protection on about US$1.4 billion of products. Bausch also announced that it lost US$326 million or 92 cents per diluted share in the second quarter, compared with a loss of US$171 million or 49 cents per share in the prior year as it felt the effects of the COVID-19 pandemic.
Restaurant Brands International Inc. (TSX:QSR). Down $3.22, or 4.20 per cent, to $73.42. The parent of Tim Hortons and Burger King says net income fell to US$163 million in the quarter ended June 30, down 37 per cent from US$257 million a year earlier. RBI, which reports in U.S. dollars, says revenues fell 25 per cent last quarter to $1.05 billion from $1.4 billion in the previous year. On an adjusted basis, diluted earnings plunged to 33 cents per share from 71 cents per share, exceeding analysts’ expectations of 31 cents per share, according to financial markets data firm Refinitiv.
Lightspeed POS Inc. (TSX::LSPD). Down 76 cents, or nearly 1.82 per cent, at $41.07. Lightspeed POS Inc. saw both its net loss and revenues increase in its latest quarter as it felt the positive effects of COVID-19. The Montreal-based retail payment technology firm, which reports in U.S. dollars, says it lost $20.1 million or 22 cents per share in its fiscal first quarter. That compared with a loss of $9.1 million or 11 cents per share a year earlier. Revenues for the three months ended June 30 surged more than 50 per cent to $36.2 million, from $24.1 million in the first quarter of 2019 with recurring software and payments revenue increasing 57 per cent to $33.4 million. Lightspeed was expected to lose 14 cents per share on $31.2 million in revenues, according to financial markets data firm Refinitiv.
Canadian Natural Resources Ltd. (TSX:CNQ). Up 73 cents, or nearly 2.92 per cent, to $25.76. Canadian Natural Resources Ltd. beat analyst expectations despite swinging to a loss in its latest quarter on a halving of revenues. The Calgary-based energy producer says it lost $310 million or 26 cents per share in the second quarter, compared with a year-ago profit of $2.8 billion or $2.36 per share. Its adjusted loss was $772 million or 65 cents per share, versus an adjusted profit of $1.04 billion or 87 cents per share in the second quarter of 2019. Revenues for the three months ended June 30 were $2.94 billion, down from $5.93 billion a year earlier.
Manulife Financial Corp. (TSX:MFC). Up 60 cents, or nearly 3.19 per cent, to $19.43. Manulife Financial Corp.’s chief executive says COVID-19 had a significant impact on the company’s second-quarter performance, but he’s confident it will bounce back. Roy Gori told analysts Thursday that the pandemic negatively impacted sales and investments generated lower-than-expected returns as several countries the Toronto-based insurer operates in shut down to stop the spread of the novel coronavirus. Gori says he is optimistic about the company because he feels it delivered solid results and has made significant headway in de-risking the business amid economic challenges.
Canadian Tire Corporation Ltd. (TSX:CTC). Down $9.00, or 4.09 per cent, to $211.00. Canadian Tire Corp. Ltd.’s latest quarterly report fell short of analyst expectations as it saw revenue fall amid COVID-19 related store closures. The Toronto-based retailer saw a second-quarter net loss attributable to shareholders of $20 million or 33 cents per share — that’s compared to a $177.4-million profit or $2.87 per share in the same quarter the previous year. For the quarter ended June 27, the company’s revenue totalled $3.16 billion, down from roughly $3.69 billion in the second quarter of last year. Analysts had expected a net income of $29 million or 47 cents per share on $2.95 billion in revenues, according to financial markets data firm Refinitiv.
This report by The Canadian Press was first published Aug. 6, 2020.
The Canadian Press