TORONTO — Some of the most active companies traded Thursday on the Toronto Stock Exchange:
Toronto Stock Exchange (19,290.98, down 19.76 points.)
Enbridge Inc. (TSX:ENB). Energy. Down 58 cents, or 1.18 per cent, to $48.42 on 31.5 million shares.
Tetra Bio-Pharma Inc. (TSX:TBP). Health care. Down 4.5 cents, or 10.71 per cent, to 37.5 cents on 10.3 million shares.
Zenabis Global Inc. (TSX:ZENA). Health care. Down one cent, or 7.41 per cent, to 12.5 cents on 9.7 million shares.
Manulife Financial Corp. (TSX:MFC). Financials. Down 92 cents, or 3.38 per cent, to $26.27 on 9.4 million shares.
ARC Resources Ltd. (TSX:ARX). Energy. Up 70 cents, or 8.52 per cent, to $8.92 on 8.4 million shares.
Canadian Natural Resources (TSX:CNQ). Up 54 cents, or 1.36 per cent, to $40.38 on 7.8 million shares.
Companies in the news:
Bombardier Inc. (TSX:BBD.B). Up one cent, or 1.1 per cent, to 90 cents. Bombardier Inc. isn’t ready to increase business jet production despite believing it has passed through turbulence caused by the COVID-19 pandemic. The Montreal-based company reiterated its outlook for the fiscal year, including delivery of 110 to 120 aircraft, as part of its first-quarter results that were partially disclosed earlier this week. Chief executive Eric Martel says the company needs to continue playing it safe. In its first full quarter as a pure-play business jet manufacturer, Bombardier says its core net loss was US$173 million or seven cents per share, compared with a loss of US$182 million or eight cents per share a year earlier. Net income including the US$5.3-billion gain on the sale of the rail business to Alstom S.A., was nearly US$5.1 billion or $2.03 per diluted share, up from a loss of US$200 million or 11 cents per share in the first quarter of 2020. Revenue totalled US$1.3 billion, down from $1.5 billion in the first three months of 2020 which included revenue from its aerostructure and commercial aircraft businesses that were sold last year. Bombardier said its business jet revenue was US$1.3 billion in the quarter, up 18 per cent from a year ago.
Spin Master (TSX:TOY). Up $2.02, or 4.8 per cent, to $44.53. Spin Master executives said Thursday that the company behind “Paw Patrol” and several other globally successful toy and entertainment franchises aims to be a global leader in digital games for children. Co-founder Ronnen Harary, who had been Spin Master’s co-chief executive until relinquishing the role in January, said the Toca Life digital game platform has more than 30 million monthly active users. In addition, the Sago Mini digital games for preschool children aged two to five years, had 255,000 subscribers, compared with 150,000 subscribers last year, Harary said. Spin Master, which reports in U.S. dollars, said after markets closed Wednesday that its net income was equal to three cents per diluted share for the quarter ended March 31. That compared with a year-earlier loss of US$26.7 million or 26 cents per diluted share. Total revenue rose to US$316.6 million compared with US$227.3 million of revenue in the first quarter of 2020, which included the beginning of the COVID-19 pandemic. Digital games accounted for $34.1 million of revenue, up from $6.9 million a year ago. Entertainment and licensing revenue was $26.9 million, up from $15 million last year.
Cineplex Inc. (TSX:CGX). Down 38 cents, or three per cent, to $12.17. The unofficial start of Hollywood’s summer blockbuster movie season is fast approaching later this month, and while few Canadian movie theatres are open, the head of Cineplex Inc. is optimistic a return to business is in sight. Chief executive Ellis Jacob said Thursday he anticipates that COVID-19 restrictions will ease up in most provinces before late next month, ahead of the release of “Fast & Furious 9” on June 25. The company reported a loss of $89.7 million, compared to a loss of $178.4 million in the prior year when it took $173.1 million in non-cash impairment charges at the start of the pandemic. Revenue totalled $41.4 million, down from $282.8 million in the first three months of 2020. Cineplex has spent much of the pandemic tightening its costs, though as of the first quarter it was still burning through an average of $26.9 million each month.
Canadian Natural Resources Ltd. — Higher oil and gas prices, record production and a restrained capital spending budget will result in bountiful free cash flow for Canadian Natural Resources Ltd. this year, the oilsands company said Thursday. In its first-quarter results, the Calgary-based company said it expects to generate between $5.7 billion and $6.2 billion of positive cash flow in 2021 after paying for a $3.2-billion capital budget and about $2.2 billion in dividends. In keeping with other big oilsands producers, however, Canadian Natural says it plans to spend the money mainly on reducing debt, not taking on big projects to increase oil and gas production. The company reported a first-quarter profit of nearly $1.38 billion or $1.16 per diluted share for the quarter ended March 31, compared with a loss of $1.28 billion or $1.08 per diluted share a year ago. Revenue totalled $6.6 billion, up from $4.5 billion in the first three months of 2020.
This report by The Canadian Press was first published May 6, 2021.
The Canadian Press