TORONTO — Some of the most active companies traded Thursday on the Toronto Stock Exchange:
Toronto Stock Exchange (19,560.16, down 165.98 points.)
Canadian Natural Resources Ltd. (TSX:CNQ). Energy. Down $2.30, or 3.11 per cent, to $71.57 on 7.8 million shares.
Suncor Energy Inc. (TSX:SU). Energy. Down $1.15, or 2.71 per cent, to $41.23 on 6.1 million shares.
Crescent Point Energy Corp. (TSX:CPG). Energy. Down 38 cents, or 3.96 per cent, to $9.22 on 4.6 million shares.
Manulife Financial Corp. (TSX:MFC). Financials. Unchanged at $22.86 on 4.6 million shares.
Baytex Energy Corp. (TSX:BTE). Energy. Down 23 cents, or 3.39 per cent, to $6.56 on 4.6 million shares.
Cenovus Energy Inc. (TSX:CVE). Energy. Down 65 cents, or 2.54 per cent, to $24.92 on 4.4 million shares.
Companies in the news:
Air Canada (TSX:AC). Up 39 cents, or 2.08 per cent, to $19.11. Air Canada has signed a deal to buy 30 electric-hybrid aircraft under development by Swedish company Heart Aerospace. The purchase price of the regional aircraft was not disclosed. Air Canada has also acquired a US$5-million equity stake in Heart Aerospace under the agreement. The ES-30 regional aircraft, which will be capable of carrying 30 passengers, is expected to enter service in 2028. Air Canada says the aircraft will be powered by lithium-ion batteries and equipped with reserve-hybrid generators that can use sustainable aviation fuel. The airline says the ES-30 is projected to have an electric range of 200 kilometres that extends to 400 kilometres with power supplemented by the generators.
Bank of Montreal (TSX:BMO). Up 93 cents, or 0.73 per cent, to $127.85. Bank of Montreal is cutting jobs in its capital markets division. Spokesperson Kelly Hechler confirmed the job cuts to The Canadian Press Thursday. No additional details were provided on the number of staff or specific roles affected. The cuts come a few weeks after BMO reported a drop in earnings as a pullback in capital markets more than offset gains from loan growth and improved returns on interest income. Reported net income for BMO Capital Markets in the third quarter was $262 million, compared with $553 million in the prior year, and adjusted net income was $266 million, compared with $559 million. During the bank’s earnings call with analysts in August, CEO Darryl White said “BMO Capital Markets’ results (in the quarter) were impacted by the market conditions and lower client activity.”
Empire Company Ltd. (TSX:EMP.A) Down $1.85, or 4.90 per cent, to $35.94. Empire Company Ltd. reported a first-quarter profit of $187.5 million as its sales rose 4.1 per cent compared with a year ago. The parent company of the Sobeys grocery chain says its profit amounted to 71 cents per diluted share for the quarter ended Aug. 6. The result compared with a profit of $188.5 million or 70 cents per diluted share a year ago when it had more shares outstanding. Sales totalled $7.94 billion, up from $7.63 billion in the same quarter last year. Empire says the growth in sales was driven by increased fuel sales, higher food inflation and the benefits from recent initiatives, including the expansion of its FreshCo banner in Western Canada, partially offset by the impact of pandemic restrictions being in place for part of the first quarter of the prior year. Same-store sales for the quarter rose 3.3 per cent, while same-store sales, excluding fuel, gained 0.4 per cent.
Chorus Aviation Inc. (TSX:CHR) Chorus Aviation Inc.’s board of directors has announced a new president and CEO. The company’s founder, Joseph Randell announced his plan to retire following a 37-year career in the regional aviation sector. Randell will retire in the first quarter of 2023, following the release of the company’s 2022 year-end results. The company’s board of directors announced that Colin Copp will be succeeding Randell as president and CEO. Copp has been the chief operating officer of Chorus and president of Chorus Aviation Services, including Jazz Aviation and Voyageur Aviation, since March 2019.
This report by The Canadian Press was first published Sept.15, 2022.