TORONTO — Some of the most active companies traded Tuesday on the Toronto Stock Exchange:
Toronto Stock Exchange (21,236.52, up 13.68 points.)
The Toronto-Dominion Bank. (TSX:TD). Financials. Up $2.37, or 2.4 per cent, to $99.35 on 19.9 million shares.
TC Energy Corp. (TSX:TRP). Energy. Up 90 cents, or 1.5 per cent, to $59.73 on 14.4 million shares.
Bank of Nova Scotia. (TSX:BNS). Financials. Up $1.30, or 1.5 per cent, to $90.85 on 10.5 million shares.
Manulife Financial Corp. (TSX:MFC). Financials. Up 79 cents, or 3.3 per cent, to $24.90 on 8.1 million shares.
Suncor Energy Inc. (TSX:SU). Energy. Up $1.50, or 4.7 per cent, to $33.15 on 7.2 million shares.
Cenovus Energy Inc. (TSX:CVE). Energy. Up 77 cents, or five per cent, to $16.28 on 6.9 million shares.
Companies in the news:
Nutrien Ltd. (TSX:NTR). Down $3.83 or four per cent to $91.25. The head of fertilizer giant Nutrien Ltd. has stepped down after less than nine months on the job. Saskatoon-headquartered Nutrien said in a news release Tuesday that Mayo Schmidt has stepped down as president and chief executive and also resigned from the company's board of directors. In an email, Nutrien spokeswoman Megan Fielding said the company cannot comment on the reason behind Schmidt's departure, as "there are legal constraints on what we can say." Ken Seitz, executive vice-president and CEO of Nutrien's potash business, has been named interim chief executive. Seitz, who joined Nutrien in 2019, is also a former CEO of Canpotex, one of the world's largest suppliers of potash. Schmidt was named CEO at Nutrien in April 2021, replacing outgoing chief executive Chuck Magro. Schmidt joined the company's board in 2012 and served as chair from May 2019 until he was appointed CEO. Schmidt's departure comes at a time when Nutrien is doing well against a backdrop of high crop prices and strong global fertilizer demand.
BlackBerry Ltd. (TSX:BB). Up five cents to $11.87. A U.S. judge is allowing a class-action lawsuit claiming BlackBerry Ltd. defrauded investors by misleading them about the success of its BB10 devices to move forward. New York judge Colleen McMahon ruled this week that the case brought against the Waterloo, Ont. technology company by purchasers of BlackBerry's common stock can head to trial, likely in September or October. Lead plaintiffs Todd Cox and Mary Dinzik filed the class-action in 2013, claiming that BlackBerry made "rosy" public statements that concealed a "far less rosy truth" about their products. The plaintiffs further allege that BlackBerry prematurely recognized revenue for BB10 devices to keep its stock inflated. BlackBerry denied several of the plaintiffs' claims and asked for them to be dismissed because it alleged the plaintiffs did not raise triable issues of fact during the period the case will cover. McMahon tossed several of the plaintiffs' allegations because of the length of time that had passed since shareholders objected to them, but found “genuine issues of material fact” remain in dispute, so other claims can proceed.
Ag Growth International Inc. (TSX:AFN). Up $1.71 or 5.4 per cent to $33.39. Ag Growth International Inc. says it has signed a deal to buy Eastern Fabricators, a maker of stainless steel equipment for food processors. Under the agreement, AGI has agreed to pay $29.25 million, plus up to an additional $15.75 million in earn-outs based on the achievement of certain financial targets. Eastern has two facilities in Prince Edward Island and one in Ontario. AGI chief executive Tim Close says Eastern brings a talented team along with market leading products, services, manufacturing capacity and, most importantly, customer relationships. The company says the transaction will be funded primarily through its senior debt facilities. AGI is a producer of seed, fertilizer, grain, feed and food processing systems.
This report by The Canadian Press was first published Jan. 4, 2022.
The Canadian Press