TORONTO — Some of the most active companies traded Thursday on the Toronto Stock Exchange:
Toronto Stock Exchange (18,392.99, down 64.79 points.)
The Supreme Cannabis Co. Inc. (TSX:FIRE). Health care. Down 9.5 cents, or 19 per cent, to 40.5 cents on 72 million shares.
Zenabis Global Inc. (TSX:ZENA). Health care. Down two cents, or 11.11 per cent, to 16 cents on 32.8 million shares.
Bombardier Inc. (TSX:BBD.B). Industrials. Down 12 cents or 16.44 per cent to 61 cents on 24.8 million shares.
Organigram Holdings Inc. (TSX:OGI). Health care. Down $3.06, or 40.16 per cent, to $4.56 on 22.9 million shares.
Enbridge Inc. (TSX:ENB). Energy. Down $1.28, or 2.79 per cent, to $44.56 on 22 million shares.
Aphria Inc. (TSX:APHA). Health care. Down $12.01, or 35.99 per cent, to $21.36 on 19.6 million shares.
Companies in the news:
Air Canada (TSX:AC). Up 12 cents to $21.20. Canada's travel landscape is about to change after the federal government approved Air Canada's $190-million purchase of Transat A.T., after COVID-19 diminished the deal's value. Transport Minister Omar Alghabra announced the approval Thursday evening, saying the government concluded the purchase is in the public interest. He said it considered a range of factors, including level of service, wider social and economic implications, the financial health of the air transportation sector, and competition. The government said the acquisition is the best outcome for workers, Canadian travellers and other industries that rely on air transport. Transat shareholders in December approved the revised deal, equal to $5 per share and a significant decrease from an earlier $720 million or $18 per share.
Molson Coors Beverage Co. (TSX:TPX.B). Down $5.10 or 8.2 per cent to $57.40. Molson Coors Brewing Co. is betting that strong pent-up demand for live sports and entertainment and the growth of e-commerce sales will buoy the beer giant once the economy reopens post-pandemic. The company's expansion beyond the beer aisle has also set the stage for future growth, Gavin Hattersley, president and chief executive officer of Molson Coors, said Thursday. Molson Coors has seen a meteoric rise in online sales — a trend Hattersley predicts will stay. His comments came after the company announced it had incurred a US$1.37-billion net loss in its latest quarter as sports and live entertainment venues where it sells beverages remained closed amid COVID-19 restrictions.
Sun Life Financial (TSX:SLF). Up 72 cents or 1.2 per cent to $62.46. Amid the grim backdrop of COVID-19 fatalities, Canadian insurers have also found some consumers have an increased interest in life and health insurance. Sun Life chief executive Dean Connor said it was a "tough year" as the insurer paid out $200 million to the families of clients who died of COVID-19. But Sun Life also said it saw lower benefits usage brought about by the pandemic as it extended grace periods for premium payments. The comments were part of conference calls with analysts about the insurers' fourth-quarter financial results. Both Manulife and Sun Life grew profits during the last three months of 2020 and beat average analyst expectations from financial data firm Refinitiv. Great-West Lifeco also reported higher net earnings than a year ago, although it also received a $143-million boost from the sale of GLC Asset Management Group Ltd.
Cineplex Inc. (TSX:CGX). Up nine cents to $11.22. The head of Cineplex Inc. is ready to turn Canada's multiplexes into temporary COVID-19 vaccination sites. Ellis Jacob, CEO of the country's largest movie theatre chain, says he's reached out to provincial public health agencies nationwide to suggest his company "could help in a big way" as a space for distributing shots. And while no decisions have been made, Jacob says health leaders seemed "very interested and receptive" to the idea. With Cineplex's locations largely closed across the country, the theatre chain is looking for options as it grapples with a massive shutdown due to COVID-19 restrictions.
Aurora Cannabis Inc. (TSX:ACB). Down $5.65 or 23.6 per cent to $18.31. Aurora Cannabis Inc.'s chief executive says his company is back on track for success, after spending last year fixated on a dramatic restructuring involving hundreds of layoffs and several facility closures. Miguel Martin said the company made some tough decisions such as streamlining Aurora's operations and adapting to evolving consumer demands. With much of Aurora's restructuring complete, Martin said he is now focused on finding opportunities for growth and creating an economic model that balances where the industry is today with where it's going. Aurora lost $292.8 million in its most recent quarter, down from a loss of $1.3 billion a year ago, while revenues increased 22.7 per cent to $67.6 million.
Bombardier Inc. — Bombardier Inc. said Thursday it will reduce its overall workforce by about 1,600 jobs as it anticipates a years-long recovery in the aviation industry. In addition to the cuts, the company is consolidating its Global aircraft completion work in Montreal and reviewing options for underutilized hangar and industrial space at its Quebec facilities, in a bid to generate savings amid an uncertain time for aviation demand. The company said the cuts will bring its global workforce to 13,000 by the end of the year. Bombardier said it will end production of Learjet aircraft later this year, allowing it to focus on its more profitable Challenger and Global aircraft families.
This report by The Canadian Press was first published Feb. 11, 2021.
The Canadian Press