TORONTO — Some of the most active companies traded Thursday on the Toronto Stock Exchange:
Toronto Stock Exchange (14,884.85, down 112.78 points.)
Sun Life Financial Inc. (TSX:SLF). Financials. Up 18 cents, or 0.38 per cent, to $47.06 on 25.2 million shares.
Manulife Financial Corp. (TSX:MFC). Financials. Down two cents, or 0.12 per cent, to $16.15 on 17 million shares.
The Green Organic Dutchman Holdings. (TSX:TGOD). Health care. Down three cents, or 6.52 per cent, to 43 cents on 15.5 million shares.
Bombardier Inc. (TSX:BBD.B). Industrials. Down 1.5 cents, or three per cent, to 48.5 cents on 11.7 million shares.
Zenabis Global Inc. (TSX:ZENA). Health care. Up one cent, or 6.67 per cent, to 16 cents on 11.1 million shares.
Aurora Cannabis Inc. (TSX:ACB). Health care. Up $6.29, or 35.32 per cent, to $24.10 on 9 million shares.
Companies in the news:
Canada Goose Holdings Inc. (TSX:GOOS). Up $1 or 3.5 per cent to $29.33. More retailers have announced layoffs and store closures at their Canadian operations as they continue to grapple with the impacts of the COVID-19 pandemic. Canada Goose Holdings Inc. announced Wednesday it would lay off 125 employees, or about 2.5 per cent of its more than 5,000-person workforce. It was a "difficult, but responsible decision," the company said in a statement. The Toronto-based retailer closed its North American and European retail stores on March 17, joining a wave of government mandated and voluntary store closures to help curb the spread of the virus.
STEP Energy Services Ltd. (TSX:STEP). Down 4.5 cents or 9.7 per cents to 42 cents. Canada's oilfield services sector is in for "an immense amount of pain" over at least the next year thanks to low North American oil and gas exploration activity amid a worldwide glut of cheap crude, according to a report from CIBC. Drilling and well completion companies stand to suffer the most as producers will be reluctant to reverse cuts in spending and production linked to the COVID-19 pandemic and its affect on fuel demand, the analysts warn. On Thursday, Calgary-based STEP Energy Services Ltd. was the latest oilfield service provider to report a series of measures to deal with sharply lower demand that began in mid-March. The measures include job cuts, wage rollbacks, parked equipment and reduced capital spending in its hydraulic fracturing and coiled tubing well service operations in Canada and the U.S.
Heroux-Devtek Inc. (TSX:HRX). Up 43 cents or 4.8 per cent to $9.40. Landing gear manufacturer Heroux-Devtek Inc. intends to focus on the defence side of its business to overcome a slow recovery expected in commercial aviation due to COVID-19. Chief executive Martin Brassard said the Quebec-based company is "optimistic" about its growth prospects in this area, adding that it will take two to three years before commercial aviation returns to the level of activity that prevailed before the pandemic. Heroux-Devtek lost $72 million or $1.98 per share in the fourth quarter following $85.8 million in non-cash impairment charges to reflect the forecast drop in commercial sector demand. That compared with a $12-million or 34 cents per share profit a year earlier.
Shopify Inc. (TSX:SHOP). Up $41.22 or 3.8 per cent to $1,118.22. The head of Shopify Inc. has declared that "office centricity is over" as the company moves to a permanent remote-work model for most employees, with no intention of reopening offices this year. Shopify offices will remain closed until 2021, and then reopen with a significant shift in purpose as the company looks to make the remote work experience the same as for those in the office. Chief executive Tobi Lutke said COVID is challenging us all to work together in new ways.
Lightspeed POS Inc. (TSX:LSPD). Up $9.38 or 37.8 per cent to $34.18. Shares in Lightspeed POS Inc. surged Thursday after it reported revenue in its latest quarter increased 70 per cent compared with a year ago as demand for its e-commerce offerings soared in the wake of the COVID-19 pandemic. However, the retail payment technology firm said it expects the total dollar volume of transactions by its customers and demand for its services will be impacted and business failures among its customers, which includes restaurants and retailers, will increase so long as physical distancing measures remain in place in the core markets it serves.
This report by The Canadian Press was first published May 21, 2020.
The Canadian Press
