TORONTO — Some of the most active companies traded Friday on the Toronto Stock Exchange:
Toronto Stock Exchange (21,008.20, down 168.13 points.)
Suncor Energy Inc. (TSX:SU). Energy. Down 62 cents, or 1.6 per cent, to $37.06 on 9.6 million shares.
Sun Life Financial Inc. (TSX:SLF). Financial. Down 62 cents, or 0.9 per cent, to $67.68 on 8.9 million shares.
Barrick Gold Corp. (TSX:ABX). Materials. Unchanged at $29.53 on 7.7 million shares.
Bombardier Inc. (TSX:BBD.B). Industrials. Down seven cents, or 4.1 per cent, to $1.62 on 7.7 million shares.
Cenovus Energy Inc. (TSX:CVE). Energy. Down 55 cents, or 2.7 per cent, to $19.60 on 7.3 million shares.
Kinross Gold Corp. (TSX:K). Materials. Up four cents, or 0.5 per cent, to $7.42 on 7.0 million shares.
Companies in the news:
Air Canada (TSX:AC). Up 77 cents or 3.1 per cent to $25.40. Air Canada topped expectations as it bled less cash in its latest quarter, a sign the airline's underlying recovery remains on course despite the blow to holiday travel caused by the Omicron variant. However, a loss of nearly $500 million prompted the carrier's CEO to call for lighter travel restrictions, three days after the federal government announced it would lower key barriers to cross-border traffic. Fourth-quarter adjusted earnings were "modest" but positive for the first time in seven quarters, Rousseau noted. The company reduced its net loss by 60 per cent year over year. And passenger revenues climbed by $1.6 billion to more than four times the year-earlier period as flight volume soared in October and November relative to 2020. On Friday Air Canada reported a fourth-quarter net loss of $493 million or $1.38 per diluted share, compared with a net loss of $1.16 billion or $3.91 per diluted share a year before. The Montreal-based company's operating revenues for the quarter ended Dec. 31 were $2.73 billion, more than triple the $827 million recorded in the same period of 2020.
Postmedia Network Canada Corp. (TSX:PNC.A). Up one cent to $1.71. The door could open up for greater media competition in New Brunswick as Toronto-based Postmedia gears up to purchase all of the daily and weekly newspapers owned by the Irving family for more than $16 million in cash and shares. Postmedia parent company Postmedia Network Canada Corp. said in a news release that it has reached an agreement to buy all outstanding shares of Brunswick News Inc., which is part of J.D. Irving Ltd., for $7.5 million in cash and $8.6 million in Postmedia shares at an implied price of $2.10 per variable voting share. The Irving family has dominated the media landscape in the province for years, sparking criticism around what news is and isn't covered, one media watcher said Friday. The purchase signals J.D. Irving's exit from the media business, said Jim Irving, co-CEO of J.D. Irving Ltd., in a statement. Andrew MacLeod, president and CEO of Postmedia, said the acquisition will give the company a reach from coast to coast.
This report by The Canadian Press was first published Feb. 18, 2022.
The Canadian Press