TORONTO — Some of the most active companies traded Thursday on the Toronto Stock Exchange:
Toronto Stock Exchange (20,238.19, down 116.49):
Enbridge Inc. (TSX:ENB). Energy. Up 23 cents, or 0.43 per cent, to $53.18 on 10.8 million shares.
Shopify Inc. (TSX:SHOP). Technology. Up $14.60, or 23.16 per cent, to $77.65 on 9.7 million shares.
Western Forest Products Inc. (TSX:WEF). Materials. Down eight cents, or 7.02 per cent, to $1.06 on 8.8 million shares.
Suncor Energy Inc. (TSX:SU). Energy. Down 38 cents, or 0.98 per cent, to $38.59 on 8.8 million shares.
K92 Mining Inc. (TSX:KNT). Materials. Up 32 cents, or 4.83 per cent, to $6.95 on 8.4 million shares.
Barrick Gold Corp. (TSX:ABX). Basic Materials. Up 40 cents, or 1.47 per cent, to $27.62 on 7.2 million shares.
Companies in the news:
Shopify Inc. (TSX:SHOP). Technology. Up $14.60, or 23.16 per cent, to $77.65. Shopify Inc. said it will reduce its head count by about 20 per cent and sell its logistics business as it aims to reduce distracting "side quests" in the latest big change by the Canadian tech company. The changes come despite Shopify president Harley Finkelstein saying in February that there were no more cuts in the works. Finkelstein told The Canadian Press on Thursday that the company has no further plans to cut more workers. The Ottawa-based e-commerce giant is selling its logistics business to Flexport, a supply chain management company. It announced the moves as a way to help it focus on its main goal: making commerce easier.
TD Bank Group (TSX:TD). Finance. Up 20 cents, or 0.25 per cent, to $81.67. TD Bank Group has called off its US$13.4-billion deal to acquire U.S. bank First Horizon Corp., citing regulatory uncertainty around the takeover. The bank said Thursday it had reached a mutual agreement with the Tennessee-based bank to terminate the acquisition because it was unclear when and if it would be able to obtain approval for the deal. TD chief executive Bharat Masrani said this decision provides clarity for colleagues and shareholders.
Parkland Fuel Corp. (TSX:PKI). Retail. Up 41 cents, or 1.33 per cent, to $31.27. Parkland Fuel Corp. said Thursday its Burnaby, B.C. refinery is not for sale, even in the face of pressure from an activist investor. The Calgary-based fuel retailer and convenience store operator has been the subject of a campaign by U.S.-based Engine Capital LP, which owns about a two per cent stake in Parkland. The activist investor has been calling on Parkland to consider selling or spinning off its Burnaby refinery in order to become a pure-play fuel marketer and retailer.
BCE Inc. (TSX:BCE). Telecom. Down 94 cents, or 1.44 per cent, to $64.44; and Telus Corp. (TSX:T). Telecom. Down 46 cents, or 1.61 per cent, to $28.20. Following Rogers Communications Inc.'s successful closing of the largest telecommunications deal in Canadian history last month, the company's two main rivals say they are well-positioned to compete in the altered industry landscape. Bell Canada president and CEO Mirko Bibic said Thursday he's encouraged by the state of competition in the sector following the $26-billion purchase by Rogers of Shaw Communications Inc. Meanwhile, Zainul Mawji, president of consumer solutions at Telus, said in an interview that the company remains focused on its own strategy.
This report by The Canadian Press was first published May 4, 2023.
The Canadian Press
