TORONTO — Some of the most active companies traded Tuesday on the Toronto Stock Exchange:
Toronto Stock Exchange (16,020.94, down 58.61 points.)
Cenovus Energy Inc. (TSX:CVE). Energy. Up 30 cents, or 6.7 per cent, to $4.77 on 14 million shares.
Royal Bank of Canada (TSX:RY). Financials. Down $1.59, or 1.68 per cent, to $92.91 on 8.8 million shares.
Nevada Copper Corp. (TSX:NCU). Materials. Down half a cent, or 6.25 per cent, to 7.5 cents on 6.8 million shares.
Suncor Energy Inc. (TSX:SU). Energy. Down 39 cents, or 2.4 per cent, to $15.83 on 6.7 million shares.
Bank of Montreal (TSX:BMO). Financials. Down $1.57, or 1.88 per cent, to $82.08 on 6.6 million shares.
Toronto-Dominion Bank (TSX:TD). Financials. Down $1.03, or 1.72 per cent, to $58.74 on 5.8 million shares.
Companies in the news:
Indigo Books and Music Inc. (TSX:IDG). Up 10 cents or five per cent to $2.10. Workers at two more Indigo Books and Music Inc. stores have voted in favour of unionization, bringing the total to three locations. Bookstore employees at an Indigo in Montreal and a Chapters in Coquitlam, B.C., have voted to join a union, following in the steps of workers at an Indigo in Mississauga, Ont. Kevin Shimmin, a national representative with United Food and Commercial Workers Canada, said Tuesday the Mississauga and Coquitlam stores have unionized with UFCW while the Montreal store is with another union in Quebec. He said more stores could be joining the union drive in the coming months.
Restaurant Brands International Inc. (TSX:QSR). Down $2.78 or 3.8 per cent to $70.33. The pandemic continued eating into profits for Restaurant Brands International Inc. in the third quarter, as disruption to daily rituals like going to work and taking kids to hockey curbed sales. The parent company of Tim Hortons, Burger King and Popeyes, which keeps its books in U.S. dollars, said Tuesday its net income for the quarter was US$223 million or 47 cents per diluted share, down from US$351 million or 75 cents per diluted share a year earlier. Revenue totalled US$1.34 billion for the quarter ended Sept. 30, down from US$1.46 billion in the same period a year ago. The company said the year-over-year decrease in sales was primarily driven by a decline at Tim Hortons and Burger King and a decrease in supply chain sales, partially offset by an increase in sales at Popeyes.
Suncor Energy Inc. — Suncor Energy Inc. is moving its PetroCanada head office to Calgary from two offices in Ontario next year, affecting about 700 workers. A company spokesman says the shift is part of efforts by the oilsands and retail fuel giant to remain competitive by integrating the downstream business with the rest of Suncor to be more efficient. The downstream operations are largely PetroCanada refineries through to retail and wholesale sales, PetroCanada and Petro-Pass. This announcement comes about three weeks after Suncor said it will eliminate 10 to 15 per cent of its workforce or as many as 1,930 jobs over the next 18 months as a result of cost-cutting to deal with low oil prices and market volatility.
Spin Master Corp. (TSX:TOY). Up 29 cents to $30.53. Canadian toymaker Spin Master Corp. is taking Rubik’s Cube for another spin around the block. Hungarian puzzle enthusiast and teacher Erno Rubik invented the multi-coloured cube in 1974 and the toy became a commercial success after it launched globally in 1980. Toronto-based Spin Master — which includes Paw Patrol, Hatchimals and Gund among its toy brands — said Tuesday it’s paying US$50 million for Rubik’s Brand Ltd. Erno Rubik said in the statement that he’s excited that Spin Master will “fulfil my vision of nurturing smarter, future generations through play.”
Maple Leaf Foods Inc. (TSX:MFI). Down $1.15 or 4.7 per cent to $23.52. Maple Leaf Foods Inc. reported a third-quarter profit of $66 million, up from $13.4 million in the same quarter last year, as its sales also climbed higher. The company says the profit amounted to 53 cents per diluted share for the quarter ended Sept. 30, up from 11 cents per share a year earlier. The increase come as Maple Leaf says strong performance by its meat protein group more than offset costs to mitigate COVID-19 risks, strategic investment in its plant protein group, as well as a favourable resolution of an income tax audit last year. Sales for the quarter totalled $1.06 billion, up from $995.8 million a year ago. The company’s meat protein group reported sales growth of 6.4 per cent, while the plant protein group saw sales growth of 9.3 per cent.
This report by The Canadian Press was first published Oct. 27, 2020.
The Canadian Press