TORONTO — Some of the most active companies traded Friday on the Toronto Stock Exchange:
Toronto Stock Exchange (16,175.02, down 378.97 points.)
Bombardier Inc. (TSX:BBD.B). Industrials. Down four cents, or 4.17 per cent, to 92 cents on 15.3 million shares.
Suncor Energy Inc. (TSX:SU). Energy. Down $1.27, or 3.65 per cent, to $33.52 on 14.4 million shares.
Toronto-Dominion Bank (TSX:TD). Financials. Down $1.84, or 2.73 per cent, to $65.45 on 13.4 million shares.
Crescent Point Energy Corp. (TSX:CPG). Energy. Down 40 cents, or 12.08 per cent, to $2.91 on 11.05 million shares.
Canadian Natural Resources Ltd. (TSX:CNQ). Energy. Down $2.32, or 7.12 per cent, to $30.26 on 10.8 million shares.
Enbridge Inc. (TSX:ENB). Energy. Down 66 cents, or 1.28 per cent, to $50.98 on 9.5 million shares.
Companies in the news:
Suncor Energy Inc. — Part of Syncrude Canada's oilsands mining complex in northern Alberta remains out of commission following a fire last Sunday evening. Spokesman Will Gibson says the fire was detected in one of the bitumen upgrader's hydroprocessing units and it was shut down, prompting the fire to go out by the time firefighters arrived. He says no one was in the building at the time and there were no resulting injuries. He says the company is assessing damage and investigating the cause, adding that the rest of the mining complex is operating normally. Its owners are Suncor Energy Inc. (58.74 per cent), Imperial Oil Ltd. (25 per cent), Sinopec (9.03 per cent) and CNOOC (7.23 per cent).
Recipe Unlimited Corp. (TSX:RECP). Up three cents to $15.27. Recipe Unlimited Corp. saw sales fall in its most recent quarter as it invested in renovating a record number of restaurants and decided to close dozens of others. The Vaughan, Ont.-based company, which owns Swiss Chalet, Harvey's, New York Fries and other restaurant chains, reported a net loss of $1.9 million or three cents per share for the fourth quarter. That's down from net earnings of $9 million or 15 cents per share for the same period the previous year. System sales for the 13 weeks ended Dec. 29 fell 1.1 per cent to $895.8 million from $905.4 in the fourth quarter of 2018. That drop came as same-store sales, a key retail metric, fell 2.6 per cent in the quarter as the full-service restaurant industry continued to face headwinds.
Air Canada (TSX:AC). Up $1 or 3.1 per cent to $33.16. An aviation expert says the novel coronavirus is having a "severe impact" on global air travel, with implications for Canadian airlines and aerospace companies. National Bank analyst Cameron Doerksen says the spread of the virus represents a "clear threat" to the sustainability of the industry's current cycle. The broader economic slowdown triggered by the virus "would likely hurt demand" for new business jets, Bombardier Inc.'s main source of income after selling it sold its rail business to French train giant Alstom SA last month. Doerksen says Chorus Aviation Inc.'s regional flight service for Air Canada will remain insulated from the headwinds, but its global plane-leasing business is at risk.
Vermilion Energy Inc. (TSX:VET). Down $2.35 or 18.5 per cent to $10.36. Shares in Vermilion Energy Inc. fell by as much as 16 per cent Friday morning after it cut its dividend in half to deal with weakness in commodity prices linked to economic fallout from the novel coronavirus. CEO Tony Marino told a conference call to discuss fourth-quarter results that COVID-19 has altered individual, business and government behaviour and that's negative for global economic growth, oil demand and commodity prices. Marino said the company is prepared to chop its $450-million 2020 capital spending budget by as much as 15 per cent if commodity price weakness continues or worsens.
Restaurant Brands International Inc. (TSX:QSR). Up $1.69 or 2.3 per cent to $73.84. Tim Hortons says it will temporarily stop accepting reusable cups brought in by customers amid concerns about the novel coronavirus outbreak. The company has also put on hold plans it had to give away 1.8 million reusable cups for free as part of its Roll Up the Rim contest this year. The temporary move follows similar decisions by Starbucks and The Second Cup Ltd. Tim Hortons says that though health officials have not recommended any changes to its current procedures, it is making the change after listening to its restaurant owners and comments from its customers. The company owned by Restaurant Brands International says it will delay the distribution of the reusable cups that were planned to be given away next week until later this year.
This report by The Canadian Press was first published March 6, 2020.
The Canadian Press
