TORONTO — Some of the most active companies traded Tuesday on the Toronto Stock Exchange:
Toronto Stock Exchange (19,548.51, down 194.05 points.)
Canadian Natural Resources (TSX:CNQ). Energy. Down 92 cents, or 1.2 per cent, to $78.48 on 17.1 million shares.
Manulife Financial Corp. (TSX:MFC). Financials. Down 11 cents, or 0.5 per cent, to $21.91 on 12.7 million shares.
Suncor Energy Inc. (TSX:SU). Energy. Down four cents, or 0.1 per cent, to $51.00 on 12.3 million shares.
Athabasca Oil Corp. (TSX:ATH). Energy. Down 18 cents, or 5.6 per cent, to $3.03 on 10.4 million shares.
Cenovus Energy Inc. (TSX:CVE). Energy. Down 35 cents, or 1.2 per cent, to $28.73 on 9.6 million shares.
Crescent Point Energy Corp. (TSX:CPG). Energy. Down 50 cents, or 4.0 per cent, to $12.01 on 9 million shares.
Companies in the news:
SNC-Lavalin Group Inc. (TSX:SNC). Down 52 cents or 2.2 per cent to $22.77. A union representing SNC-Lavalin Group Inc. engineers say members have voted overwhelmingly in support of a settlement to end their strike. The agreement comes after SNC subsidiary Candu Energy Inc. mandated that all employees return to the office with one business day's notice following more than two years of remote work. The Society of Professional Engineers and Associates had said the memo amounted to a negotiating tactic amid a rotating strike launched May 29 at Ontario's Darlington nuclear plant, which Candu is refurbishing. The union said Tuesday the move to onsite work has since been reversed. Under the new collective agreement, employees can continue to work remotely until Oct. 12, when a hybrid work plan of three days a week in office kicks in, though the employer can opt to increase that time, the union said. Ratified Monday, the agreement includes inflation protection, updated wage premiums and a new pension plan.
Roots Corp. (TSX:ROOT). Up one cent to $3.20. Canadian retailer Roots Corp. has bumped up prices and reined in promotions as it contends with ongoing inflation and prepares to reintroduce Beaver Canoe. Roots president and CEO Meghan Roach said the chain took a small price increase on its core products and saw "no impact on consumer shopping behaviour with us." The company, which sells apparel, leather goods, footwear and accessories, posted $43.1 million in sales in its most recent quarter, up from $37.3 million in the same quarter last year. The increase reflects the full opening of all of its stores during the quarter, compared with about 70 per cent a year ago during a partial lockdown caused by the pandemic. Overall, Roots reported a first-quarter loss of $5.3 million compared with a loss of $4.9 million in the same quarter a year earlier.
Tilray Brands Inc. (TSX:TLRY). Up six cents or 1.5 per cent to $4.09. Tilray Brands Inc. and Hexo Corp. have revised the terms of a US$211 million deal the cannabis companies signed that could see Tilray own a stake in its rival. The companies say the deal now includes an additional discount to Tilray's purchase price and a reduction to the conversion price Tilray will pay for a note issued by Gatineau-based Hexo and HT Investments MA LLC (HTI). Under the amended deal, Leamington, Ont.-based Tilray would acquire the note from HTI, which includes an outstanding balance of $185 million, along with any accrued and unpaid interest, for 89.2 per cent of the outstanding balance. That portion of the balance now equates to a 10.8 per cent discount and will be coupled with a drop in the conversion price of the note, which will fall from 85 cents to 40 cents per share. The new terms will allow Tilray to convert half of its outstanding common stock of Hexo this month, but the overall deal is not expected to close until at least July 15 and could now take up to Aug. 1 because of the adjustments.
This report by The Canadian Press was first published June 14, 2022.
The Canadian Press
