TORONTO — Some of the most active companies traded Wednesday on the Toronto Stock Exchange: Toronto Stock Exchange (19,417.03, down 90.02 points.) Enbridge Inc. (TSX:ENB). Energy. Down 91 cents, or 1.94 per cent, to $46.04 on 26.8 million shares.
TORONTO — Some of the most active companies traded Wednesday on the Toronto Stock Exchange:
Toronto Stock Exchange (19,417.03, down 90.02 points.)
Enbridge Inc. (TSX:ENB). Energy. Down 91 cents, or 1.94 per cent, to $46.04 on 26.8 million shares.
Manulife Financial Corp. (TSX:MFC). Financials. Down 51 cents, or 2.01 per cent, to $24.91 on 16.7 million shares.
Cenovus Energy Inc. (TSX:CVE). Energy. Down 32 cents, or 3.23 per cent, to $9.59 on 13.1 million shares.
Canadian Natural Resources (TSX:CNQ). Energy. Down $1.64, or 3.92 per cent, to $40.22 on 8.3 million shares.
Suncor Energy Inc. (TSX:SU). Energy. Down $1.09, or 3.79 per cent, to $27.70 on 6.4 million shares.
BCE Inc. (TSX:BCE). Telecommunications. Up one cent, or 0.02 per cent, to $59.44 on 6.3 million shares.
Companies in the news:
Canadian National Railway Co. (TSX:CNR). Down $1.80 or 1.4 per cent to $128.99. Canadian National Railway Co. says its push to create a continental railway with the US$33.6-billion acquisition of Kansas City Southern has the backing of Bill Gates and the Caisse de dépôt et placement du Québec. CEO JJ Ruest said there’s “great enthusiasm” for creating a railway servicing the U.S., Mexico and Canada that is more competitive than trucking. He said most of its shareholders support the combination despite concerns raised by its fifth-largest shareholder, Britain’s TCI Fund Management. He pointed to public support from Cascade Investment LLC, controlled by Gates, and the Quebec pension fund manager. Kim Thomassin, the head of investments for the Caisse, said in a letter that it believes the deal has the potential to “not only create jobs in a company based in Montreal, but also to open new markets to Quebec export companies and stimulate the economic recovery as a whole.”
Cineplex Inc. (TSX:CGX). Up 42 cents or 3.2 per cent to $13.58. The head of Cineplex Inc. is calling on federal and provincial leaders to draft up a better plan to support Canada’s hobbled movie exhibitors. While most of the country’s theatres are still closed under COVID-19 restrictions, Cineplex CEO Ellis Jacob says it’s time health officials across the provinces agree to “be consistent and move forward” with cinema reopenings in the coming weeks. In an interview after Cineplex’s annual meeting, Jacob says COVID-19 safety rules have varied wildly by province, with Quebec well ahead of the game, having most theatres in operation and auditorium capacity limits far above what others are anticipated to allow. Jacob is also urging the federal government to show movie exhibitors the kind of support it’s given to other arts and culture sectors. In April’s budget, the feds earmarked $300 million over two years for a recovery fund meant to rebuild the entertainment sector. None of that money was reserved for exhibition chains or independent cinemas.
CAE Inc. (TSX:CAE). Down 23 cents to $35.83. CAE Inc. reported its fourth-quarter profit fell compared with a year earlier as its revenue also dropped as it continued to feel the effects of COVID-19. The flight simulator maker and training company says it earned $19.8 million in net income attributable to equity holders for the quarter ended March 31, down from a profit of $78.4 million a year earlier. The results include $58.6 million of restructuring charges. The result amounted to a profit of seven cents per diluted share, down from a profit of 29 cents per diluted share a year earlier. Revenue for the quarter totalled $894.3 million, down from $977.3 million in the same quarter last year. On an adjusted basis, CAE says it earned $63.2 million or 22 cents per share for the quarter, down from an adjusted profit of $122.3 million or 46 cents per share a year earlier. CAE says its adjusted profit excluding COVID-19 government support programs for the quarter was $35.9 million or 12 cents per share, down from a profit of $122.3 million or 46 cents per share last year. For the full-year, CAE lost $47.2 million on $2.98 billion of revenues, compared with a profit of $311.4 million on $3.62 billion in 2019.
This report by The Canadian Press was first published May 19, 2021.
The Canadian Press