TORONTO — Some of the most active companies traded Friday on the Toronto Stock Exchange:
Toronto Stock Exchange (16,263.05, down 454.39 points.)
Bombardier Inc. (TSX:BBD.B). Industrials. Down 16 cents, or 14.3 per cent, to 96 cents on 38.1 million shares.
Aurora Cannabis Inc. (TSX:ACB). Health care. Down 14 cents, or 7.18 per cent, to $1.81 on 23.3 million shares.
Manulife Financial Corp. (TSX:MFC). Financials. Down 27 cents, or 1.18 per cent, to $22.56 on 18.1 million shares.
Enbridge Inc. (TSX:ENB). Energy. Down 88 cents, or 1.73 per cent, to $49.96 on 16 million shares.
Kinross Gold Corp. (TSX:K). Materials. Down 62 cents, or 8.41 per cent, to $6.75 on 15.1 million shares.
Suncor Energy Inc. (TSX:SU). Energy. Down 46 cents, or 1.23 per cent, to $36.99 on 14.6 million shares.
Companies in the news:
Restaurant Brands International (TSX:QSR). Down $1.97 or 2.4 per cent to $79.11. Franchisee unrest has hit Tim Hortons again, this time from its U.S. members, who are accusing the company of engaging in an "illegal and fraudulent business scheme." A lawsuit from the Great White North Franchisee Association USA Inc, a group claiming to represent most American Tim Hortons franchisees, alleges the company, its parent, its affiliates and former president Elias Diaz Sese have used provisions in agreements to charge Tim Hortons franchisees as much as 50 per cent above what competitors pay for supplies like coffee, baking goods, meat and paper products.
SNC-Lavalin Group Inc. (TSX:SNC). Up $3.08 or 10.9 per cent to $31.20. SNC-Lavalin Group Inc. has disbanded the special committee it quietly launched in December 2018 to explore strategic options that included spinning off chunks of the engineering giant when it was confronting criminal charges. Divesting assets such as SNC's struggling resources division, which lost $51.2 million before interest and taxes last quarter, "absolutely" remains a possibility with "all options" on the table, CEO Ian Edwards said Friday. SNC-Lavalin formed the special committee after failing to convince federal prosecutors to drop fraud and corruption charges in the fall of 2018. SNC settled those criminal charges last December.
Shopify Inc. (TSX:SHOP). Up $5.58 to $623.22. Organizations across the country are cancelling conferences, fretting about whether to forge ahead with events and considering more health-conscious policies as concerns grow over the recent outbreak of a novel form of coronavirus. Ottawa-based e-commerce giant Shopify Inc. announced Friday that it had made the "hard but necessary" decision to cancel its annual Unite conference that was set to be held in Toronto on May 7. Shopify says more than 1,000 people from across the globe attended the conference in its last two years, where they were first to learn about the company's plans for a U.S. fulfilment network and its first brick-and-mortar location in Los Angeles.
TMX Group (TSX:X). Down 92 cents to $111.71. TMX Group says trading activity is operating normally on its exchanges after a malfunction Thursday forced it to close trading early amid a major market selloff. With trading resumed Friday, the Toronto Stock Exchange closed down 2.7 per cent amid concerns about the coronavirus. The outage on the TSX, TSX Venture, Alpha and derivatives-focused Montreal Exchange came after a spike in market activity, said TMX Group interim CEO John McKenzie Friday. The spike was especially pronounced in the messaging side of the system that relays the buy, sell, and cancel orders. Message volume had hit a one-day record of about 190 million messages by the time the system started failing at around 1:30 p.m.
Onex Corp. (TSX:ONEX). Down $5.25 or 6.5 per cent to $75.36. Private equity firm Onex Corp. says it had net earnings of US$187 million in the fourth quarter compared with net earnings of US$88 million a year earlier when it reported under a different reporting standard. The firm says that at the start of 2019 it determined it met the definition of an investment entity and so has changed its reporting accordingly, and so cautions against direct quarter-to-quarter comparisons. Onex says in the quarter it had segment earnings of US$211 million across its investing and asset management divisions, working out to $2.04 per share, driven by net gains from its private equity investments, which increased in value by six per cent in the quarter.
This report by The Canadian Press was first published Feb. 28, 2020.
The Canadian Press