TORONTO — Some of the most active companies traded Friday on the Toronto Stock Exchange:
Toronto Stock Exchange (16,218.01, down 230.88 points.)
Suncor Energy Inc. (TSX:SU). Energy. Down 43 cents, or 2.08 per cent, to $20.24 on 21.5 million shares.
Canadian Natural Resources (TSX:CNQ). Down four cents, or 0.16 per cent, to $25.71 on 10.7 million shares.
Manulife Financial Corp. (TSX:MFC). Financials. Down four cents, or 0.21 per cent, to $19.16 on 9.4 million shares.
Enbridge Inc. (TSX:ENB). Energy. Down 85 cents, or 2.02 per cent, to $41.24 on 8.5 million shares.
Air Canada (TSX:AC). Industrials. Up 68 cents, or 3.79 per cent, to $18.63 on 7.7 million shares.
Crescent Point Energy Corp. (TSX:CPG). Energy. Down five cents, or 2.34 per cent, to $2.09 on 6.5 million shares.
Companies in the news:
Canopy Growth Corp. (TSX:WEED). Down 45 cents or 2.1 per cent to $21.11. Canopy Growth Corp. is laying off another round of workers as the cannabis company continues to restructure. The Smiths Falls, Ont.-based company would not say how many employees were impacted by the cuts, but confirmed they were based at its Niagara-on-the-Lake and Smiths Falls locations and said it would share more details in the fall when it releases financial results. Niagara-on-the-Lake is home to Canopy's Tweed Farms and Smiths Falls hosts the company's headquarters. The layoffs come after Canopy let go of 30 operations staff in Smiths Falls on July 8. The cannabis company behind the Tweed and Tokyo Smoke brands also culled 500 people from its workforce in March and 85 in April.
Laurentian Bank Financial Group (TSX:LB). Up $1.66 or 6.1 per cent to $28.92. Laurentian Bank Financial Group beat expectations as it reported a third-quarter profit of $36.2 million. The Montreal-based bank says the profit amounted to 77 cents per diluted share for the quarter ended July 31 compared with a profit of $47.8 million or $1.05 per share a year earlier. Revenue totalled $248.6 million, up from $244.7 million for the third quarter of 2019. Total provisions for credit losses amounted to $22.3 million, compared with $12.1 million a year ago, but down from $54.9 million for the second quarter of 2020. On an adjusted basis, Laurentian says it earned $1.02 per diluted share for the quarter, down from $1.15 a year ago. Analysts on average had expected a profit of 45 cents per share for the quarter, according to financial markets data firm Refinitiv.
Rogers Communications Inc. (TSX:RCI.B). Down $1.22 or 2.1 per cent to $55.52. Rogers Communications Inc. sought Friday to reassure Quebecers over its attempt to buy the Canadian assets of Montreal-based Cogeco Inc. and Cogeco Communications Inc., pledging to keep the companies' headquarters in the province where they've been rooted for more than six decades. Gestion Audem Inc., a company controlled by members of the Audet family and which holds the majority of voting shares in Cogeco, earlier this week rejected an unsolicited $10.3-billion takeover proposal from U.S. cable company Altice USA Inc. that would have seen Rogers purchase the companies' Canadian assets. The Cogeco boards said their independent members also rebuffed the bid. The proposal prompted backlash from the Quebec government. Quebec Premier Francois Legault, who said officials had spoken with Cogeco CEO Louis Audet that morning, did not give details about what steps he would take.
This report by The Canadian Press was first published Sept. 4, 2020.
The Canadian Press