TORONTO — Some of the most active companies traded Thursday on the Toronto Stock Exchange:
Toronto Stock Exchange (19,587.41, up 57.20 points):
Manulife Financial Corp. (TSX:MFC). Finance. Up 75 cents, or 3.01 per cent, to $25.67 on 19.3 million shares.
Whitecap Resources Inc. (TSX:WCP). Energy. Down six cents, or 0.62 per cent, to $9.68 on 9.6 million shares.
Canopy Growth Corp. (TSX:WEED). Health care. Down nine cents, or 10.98 per cent, to 73 cents on 8.9 million shares.
Hut 8 Mining Corp. (TSX:HUT). Finance. Down one cent, or 0.32 per cent, to $3.10 on 8.4 million shares.
Baytex Energy Corp. (TSX:BTE). Energy. Up nine cents, or 1.70 per cent, to $5.39 on 6.7 million shares.
Enbridge Inc. (TSX:ENB). Energy. Down 17 cents, or 0.37 per cent, to $46.12 on 6.4 million shares.
Companies in the news:
Suncor Energy Inc. (TSX:SU). Energy. Up $1.60, or 3.70 per cent, to $44.89. Suncor Energy Inc. said it has wrapped 1,500 job cuts two months ahead of schedule, but that it will continue to look for areas to trim as part of a wider efficiency push. Chief executive Rich Kruger said on an earnings conference call Thursday that the cuts are expected to save $450 million a year, or about $50 million more than what they expected when the cuts were announced in June. The ongoing savings push comes as the company reported on Wednesday evening a profit of $1.54 billion in the third quarter of 2023, compared to a net loss of $609 million in the prior year's quarter.
Canadian Tire Corp. (TSX:CTC.A). Retail. Down $3.62, or 2.54 per cent, to $139.17. Canadian Tire Corp. Ltd. has cut about three per cent of its workforce in its fourth quarter as tougher economic times weigh on consumer's willingness to spend. The retailer said Thursday that it also won't fill most of its current job vacancies, resulting in a further reduction of three per cent. Canadian Tire said it expects to take a charge of between $20 million and $25 million in its fourth quarter in connection with the decision, putting it on pace for annualized savings of about $50 million. Canadian Tire reported a net loss attributable to shareholders of $66.4 million, or $1.19 per diluted share, for the quarter ended Sept. 30 compared with a profit of $184.9 million, or $3.14 per diluted share a year earlier.
This report by The Canadian Press was first published Nov. 9,2023.
The Canadian Press