Most actively traded companies on the Toronto Stock Exchange
TORONTO — Some of the most active companies traded Wednesday on the Toronto Stock Exchange:
Toronto Stock Exchange (19,254.56, up 281.88 points.)
Manulife Financial Corp. (TSX:MFC). Financials. Up 42 cents, or 1.86 per cent, to $22.99 on 8.6 million shares.
Toronto-Dominion Bank (TSX:TD). Financials. Up $1.04, or 1.28 per cent, to $82.44 on 6.9 million shares.
Athabasca Oil Corp. (TSX:ATH). Energy. Up 23 cents, or 10.5 per cent, to $2.42 on 6.7 million shares.
Bank of Nova Scotia (TSX:BNS). Financials. Up 84 cents, or 1.11 per cent, to $76.70 on 6.2 million shares.
Baytex Energy Corp. (TSX:BTE). Energy. Up 34 cents, or 5.29 per cent, to $6.77 on 5.8 million shares.
First Quantum Minerals Ltd. (TSX:FM). Materials. Up $1.23, or 6.44 per cent, to $20.34 on 5.8 million shares.
Companies in the news:
Rogers Communications Inc. (TSX:RCI.B). Up 33 cents, or 0.55 per cent, to $60.16. Rogers Communications Inc. acknowledged Wednesday it has work to do in building customer trust after its massive network outage earlier this month and that it expects to spend $150 million on customer credits related to the outage. The figure came as the Toronto-based cable, wireless and media company reported its second-quarter financial results, including a jump in profit. Rogers also said it has extended the deadline of its $26-billion proposed merger with Shaw Communications Inc. to Dec. 31 from July 31. The closing date has previously been delayed several times as it awaits regulatory approval.
Shopify Inc. (TSX:SHOP). Up $4.48, or 11.01 per cent, to $45.17. Shopify Inc.'s president is arguing the company is in an "enviable" position, even as it continues to express regret over misjudging the growth of the e-commerce market — a move that forced a dramatic number of job cuts Tuesday. Shopify is confident it can turn things around. Shopify revealed it lost US$1.2 billion or 95 cents per diluted share in its second quarter, compared with a profit of US$879.1 million and 69 cents per diluted share a year earlier. The company said the loss for the period ended June 30 includes a US$1-billion net unrealized loss on equity and other investments and a roughly US$800-million net unrealized gain from equity and other investments.
Loblaw Companies Ltd. (TSX:L). Down $4.59, or 3.77 per cent, to $117.09. Loblaw Companies Ltd.'s sales growth is softening as inflation continues to grip the economy and shape consumer shopping habits, the company's president and chairman said Wednesday. While the country's largest grocery and pharmacy chain sees "a little bit of softening" with its Joe Fresh apparel brand going forward, what it calls "general merchandise" or non-food sales outside of clothing are "notably down" in the most recent quarter. The company posted an increase in profit and sales in its second quarter, with drugstore sales driving overall margin expansion.
Cargojet Inc. (TSX:CJT). Up $5.10, or 3.83 per cent, to $138.22. Cargojet Inc. reported high-flying revenues in its latest quarter despite falling e-commerce demand, as the air cargo outfit seized on the mess of delays plaguing passenger airlines — which also carry freight on board — to shore up its business. The company, which flies time-sensitive freight across Canada and internationally, garnered 43 per cent year-over-year revenue growth in the quarter ended June 30. CEO Ajay Virmani said turmoil at airports across the globe has left the runway open for dedicated air freight companies to pick up the cargo slack left by large passenger airlines, which are scrambling to steer their resources toward travellers amid a staffing shortage. The company's on-time performance, a key industry metric, rose above 98 per cent last quarter, its highest in the past two years, Virmani said. Aiding the effort was a fleet bolstered by three more planes in the past six months for a total of 34 aircraft.
Precision Drilling Corp. (TSX:PD). Up $4.15, or 5.34 per cent, to $81.84. Precision Drilling Corp. said it had a net loss of $24.6 million for the second quarter, down from a net loss of $75.9 million in the same quarter last year. The net loss for the quarter ending June 30 worked out to $1.81 per share, compared with $5.71 per share for the same quarter last year. Revenue of $326 million was up 62 per cent compared with the $201 million of revenue in the quarter last year. The company said revenue climbed as it averaged 37 active rigs in the quarter, up 35 per cent over the same period last year and the highest level since 2014.
Teck Resources Ltd. (TSX:TECK.B). Up 75 cents, or 2.2 per cent, to $34.88. Don Lindsay, the longtime chief executive of Teck Resources Ltd., announced he is stepping down from the position as the mining company reported a fourth consecutive quarter of record profits. Lindsay, who has served as Vancouver-based Teck's president and CEO since 2005, will step down from the role Sept. 30 but stay on in a transition role as executive vice-chairman until mid-2023. His retirement comes as the company is riding a major commodity boom that has driven up prices for some of Teck's key commodities, and in turn earnings.
This report by The Canadian Press was first published July 27, 2022.
Provided Content: Content provided by Canadian Press. The Globe and Mail was not involved, and material was not reviewed prior to publication.