TORONTO — Some of the most active companies traded Wednesday on the Toronto Stock Exchange:
Toronto Stock Exchange (17,167.82, down 0.24 of a point.)
Aurora Cannabis Inc. (TSX:ACB). Health care. Down 12 cents, or 5.02 per cent, to $2.27 on 12.1 million shares.
Baytex Energy Corp. (TSX:BTE). Energy. Down 15 cents, or 7.28 per cent, to $1.91 on 10 million shares.
Encana Corp. (TSX:ECA). Energy. Down 47 cents, or 7.4 per cent, to $5.88 on 9.5 million shares.
Bombardier Inc. (TSX:BBD.B). Industrials. Down six cents, or 3.11 per cent, to $1.87 on 8.2 million shares.
Enbridge Inc. (TSX:ENB). Energy. Up 38 cents, or 0.74 per cent, to $52.03 on 8.1 million shares.
The Toronto-Dominion Bank. (TSX:TD). Financials. Up 57 cents, or 0.78 per cent, to $73.86 on 6.5 million shares.
Companies in the news:
Bombardier Inc. — New York City’s transit authority has pulled nearly 300 newly delivered subway cars made by Bombardier Inc. due to safety concerns. Two recent incidents “raised questions about the reliable operation” of the car doors, prompting the authority to remove all 298 of them from service Tuesday night, president Andy Byford said in a statement. The incidents caused no injuries and New York City Transit redeployed spare cars to service the morning rush hour, he said. Bombardier said two doors on cars in the New York City fleet “failed to function as intended” because they were not properly calibrated by the supplier.
Air Canada (TSX:AC). Up 80 cents to $49.04. Air Canada says it is rerouting its flights to Dubai amid uncertainty in the Middle East due to a military confrontation between the U.S. and Iran. The airline says it hasn’t used Iranian airspace since the middle of last year and will now also avoid Iraq’s airspace — affecting its five-times per week service to Dubai, a major commercial hub in the United Arab Emirates. The Associated Press reported Air Canada had rerouted a flight Wednesday from Toronto to Dubai through Egypt and Saudi Arabia to avoid travelling over Iraq. The airline does not fly directly to locations in Iran or Iraq.
Cott Corp. (TSX:BCB). Up 71 cents or four per cent to $18.48. Cott Corp. says it is considering the sale of its coffee and tea business as it evaluates whether to transition into becoming a pure-play water provider. The beverage company says it’s evaluating strategic alternatives for its S&D Coffee and Tea subsidiary as part of its strategic planning process. The Toronto-based parent company says it has hired a financial adviser to help evaluate the coffee and tea business, but adds there’s no assurance that any alternative will be pursued.
Pembina Pipeline Corp. (TSX:PPL). Up seven cents to $48.01. The cost of a petrochemical project near Edmonton designed to turn propane into plastic pellets to be shipped to manufacturers around the world has risen to about $4.9 billion, up about $400 million from original estimates. Calgary-based Pembina Pipeline Corp. says the adjustment is a result of the awarding of a lump sum engineering, procurement and construction contract for one of two integrated petrochemical plants in the facility. CEO Mick Dilger says the decision to award the contract to Fluor Canada Ltd. and Kiewit Construction Services ULC is prudent because it removes uncertainty and risk by locking in 60 per cent of the capital cost of the project expected to be in commercial service in the second half of 2023.
Colabor Group Inc. (TSX:GCL). Down one cent to 55 cents. Colabor Group Inc. is closing its distribution centres in Ottawa and London as a result of the end of a supply contract with Recipe Unlimited. The distributor and wholesaler of food and related products says it will consolidate the Broadline distribution activities of its Summit Foods division in Ontario into its Mississauga distribution centre. The number of jobs affected by the decision was not immediately released. Colabor says sales and marketing activities will be maintained in Ottawa and London, as well as administrative activities in London.
This report by The Canadian Press was first published Jan. 8, 2020.
The Canadian Press