TORONTO — Some of the most active companies traded Tuesday on the Toronto Stock Exchange:
Toronto Stock Exchange: (15,939.15, up 242.28 points.)
Enbridge Inc. (TSX:ENB). Energy. Up five cents, or 0.14 per cent, to $36.46 on 8.2 million shares.
Nevada Copper Corp. (TSX:NCU). Materials. Down one cent, or 12.5 per cent, to seven cents on 7.6 million shares.
Bank of Nova Scotia. (TSX:BNS). Financials. Up 73 cents, or 1.31 per cent, to $56.32 on 6 million shares.
Cenovus Energy Inc. (TSX:CVE). Energy. Up 17 cents, or 3.74 per cent, to $4.72 on 5.8 million shares.
Bank of Montreal (TSX:BMO). Financials. Up $2.03, or 2.55 per cent, to $81.53 on 5.6 million shares.
Bombardier Inc. (TSX:BBD.B). Industrials. Up half a cent, or 1.69 per cent, to 30 cents on 5.6 million shares.
Companies in the news:
Thomson Reuters Inc. (TSX:TRI). Up $3.71 or 3.5 per cent to $108.26. Thomson Reuters's chief executive said Tuesday that the company has performed well through the COVID-19 crisis, but he's eager to make further improvements going into next year. Steve Hasker, a former president of Nielsen Holdings, has been CEO of Toronto-based Thomson Reuters since mid-March, succeeding Jim Smith, who oversaw a series of business transitions over eight years. Hasker said his team's plan for the future is a "logical progression" to enhance and optimize its business — which focuses on professional information tools for law, tax, accounting and government clients. Thomson Reuters reported a US$241 million profit for the third quarter that compared with a year-earlier loss of US$44 million.
Canadian National Railway Co. (TSX:CNR). Up $2.43 or 1.8 per cent to $138.02. Canada's two largest railways transported a record monthly total of 6.3 million tonnes of Canadian grain in October. Montreal-based CN Rail ended the month moving 3.27 million tonnes while Canadian Pacific Railway shipped 3.04 million tonnes. It was the first time that both railways exceeded the three million tonne threshold in a month. CP's total topped its previous monthly record set last April, by 6.9 per cent. The result came as CN Rail's shipments were 13.5 per cent above its previous record of 2.88 million tonnes set a year ago. Calgary-based CP was also up 14.2 per cent from the 2.66 million tonnes of grain transported in October 2019.
Nutrien Ltd. (TSX:NTR). Down $4.46 or 8.1 per cent to $50.54. Strong growth in global food demand combined with promising harvest and fertilizing plans in the United States and elsewhere around the world bode well for Nutrien Ltd. going into 2021, chief executive Chuck Magro says. Demand for fall fertilizer application in the U.S. is up as the harvest is well ahead of schedule and crop prices are rising on strong demand and lower production, he said, adding affordability is high for potash and nitrogen fertilizers. Meanwhile, strong demand for fertilizer is being seen in China, which is growing more feed grain as it rebuilds its hog herds after the African swine fever epidemic, as well as in Brazil and Australia, he said. An $823-million impairment charge resulted in a third-quarter net loss of US$587 million, compared with net earnings of US$141 million in the same three months a year ago,
Dorel Industries Inc. (TSX:DII.B). Up 12 cents to $15.17. The second-largest shareholder of Dorel Industries says it won't support a proposal to take the company private under the terms offered Monday. Montreal-based investment firm Letko, Brosseau & Associates Inc says it controls about 13.1 per cent of Dorel's subordinate voting shares, making it the second-largest individual investor after the company's controlling family, which includes Dorel CEO Martin Schwartz. Dorel announced Monday that the Schwartz family, working with New York-based Cerberus Capital Management, have offered $14.50 per share to buy out other investors and delist the company's stock. Letko, Brosseau says in a statement that it believes Dorel has a resilient business and the controlling family's desire to remain shareholders under the going private plan is evidence of Dorel's long-term potential. The Dorel board's independent directors have given the family and Cerberus until Nov. 10 to negotiate a definitive transaction.
Bausch Health Companies Inc. (TSX:BHC). Down $1.49 or 6.5 per cent to $21.42. Bausch Health Companies Inc. reported a profit of US$71 million for its third quarter compared with a loss of US$49 million in the same quarter last year as revenue was hurt by the pandemic. The Quebec-based drug company, which keeps its books in U.S. dollars, says revenue totalled $2.14 billion, down from $2.21 billion a year ago. The company says the COVID-19 pandemic hurt revenue by about $150 million in the quarter. The company, formerly known as Valeant Pharmaceuticals, manufactures and sells a range of pharmaceutical, medical device and over-the-counter products, mostly related to eye health, gastroenterology and dermatology.
This report by The Canadian Press was first published Nov. 3, 2020.
Companies in this story: (TSX:BHC, TSX:DII.B, TSX:NTR, TSX:CP, TSX:TRI).
The Canadian Press