TORONTO — Some of the most active companies traded Thursday on the Toronto Stock Exchange:
Toronto Stock Exchange (21,292.96, down 102.04 points.)
The Toronto-Dominion Bank (TSX:TD). Financials. Up 30 cents, or 0.3 per cent, to $101.73 on 11.6 million shares.
Suncor Energy Inc. (TSX:SU). Energy. Down 33 cents, or 0.9 per cent, to $34.86 on 11.1 million shares.
The Royal Bank of Canada (TSX:RY). Financials. Up 41 cents, or 0.3 per cent, to $145.40 on 7.7 million shares.
Canadian Natural Resources (TSX:CNQ). Energy. Up $1.20, or 1.9 per cent, to $62.91 on 6.2 million shares.
Crescent Point Energy Corp. (TSX:CPG). Energy. Down 42 cents, or five per cent, to $8.03 on 6.1 million shares.
Manulife Financial Corp. (TSX:MFC). Financials. Up six cents, or 0.2 per cent, to $25.85 on 5.7 million shares.
Companies in the news:
Canopy Growth Corp. (TSX:WEED). Down 65 cents or 5.8 per cent to $10.51. Cannabis companies are listing cultivation facilities, pot shops and warehouses for sale as the industry tries to streamline production and better align its capabilities with demand. Industry observers say there are so many cannabis assets available to buy right now because, while demand for pot is high, many companies have misjudged what consumers want and are cutting products and pivoting their businesses toward items more likely to fly off shelves. Conversations and ensuing urges to sell have ramped up over several years with companies as large as Canopy Growth Corp., Tilray Inc. and Aurora Cannabis Inc. letting go of assets. But even more listings have materialized in recent months as companies saw the path to profitability wasn't quick and easy to traverse, especially during the COVID-19 pandemic. Some companies have experienced demand for particular products that is well below their expectations and been left with a glut of pot to sell. Others are struggling to stand out as the number of pot products for sale in the country swells, craft cannabis's share of the market grows and illicit sales remain mighty.
Saputo Inc. (TSX:SAP). Down 22 cents to $28.74. Dairy giant Saputo Inc. says Kai Bockmann is stepping down as the company's president and chief operating officer ahead of his retirement this March. The Montreal-based dairy processor says effective immediately Carl Colizza, president and chief operating officer of North America, and Leanne Cutts, president and chief operating officer of international and Europe, will report to Lino A. Saputo. Saputo will now serve as president in addition to his role as board chairman and chief executive. He says Bockmann contributed to building a strong and diverse leadership team over the last 10 years. The company has struggled in recent months as COVID-19 disruptions, labour shortages and supply chain turmoil weighed on its bottom line. Saputo has ushered in price increases to cope with inflation, yet the company said in November those higher prices are failing to keep up with rising costs.
Corus Entertainment Inc. (TSX:CJR.B). Up 30 cents or six per cent to $5.27. Corus Entertainment Inc. reported its first-quarter profit edged lower compared with a year ago as its revenue grew 10 per cent. The television and radio broadcaster says it earned net income attributable to shareholders of nearly $76.2 million or 36 cents per diluted share for the quarter ended Nov. 30. The result compared with a profit of nearly $76.7 million or 37 cents per diluted share in the same quarter a year ago. Revenue totalled nearly $463.9 million, up from almost $420.4 million in the same quarter a year earlier for the company behind Global Television, W Network, HGTV Canada, Food Network Canada and other specialty television services, radio stations and conventional television stations. Corus chief executive Doug Murphy says television revenue in the quarter surpassed pre-pandemic levels, helped by the strength of Global TV's fall schedule and robust advertising demand. Television revenue grew to $434.7 million, up from $392.1 million a year ago, while radio revenue came in at $29.1 million, up from nearly $28.3 million.
This report by The Canadian Press was first published Jan. 13, 2022.
The Canadian Press