TORONTO — Some of the most active companies traded Friday on the Toronto Stock Exchange:
Toronto Stock Exchange (20,790.73, down 241.08 points.)
Athabasca Oil Corp. (TSX:ATH). Energy. Up 17 cents, or 5.9 per cent, to $3.06 on 16.1 million shares.
Baytex Energy Corp. (TSX:BTE). Energy. Up 55 cents, or 7.7 per cent, to $7.65 on 12.7 million shares.
Western Energy Services Corp. (TSX:WRG). Energy. Up 1.5 cents, or 37.5 per cent, to 5.5 cents on 11 million shares.
Suncor Energy Inc. (TSX:SU). Energy. Up 63 cents, or 1.2 per cent, to $51.42 on 9.5 million shares.
Tamarack Valley Energy Ltd. (TSX:TVE). Energy. Up 27 cents, or five per cent, to $5.62 on 9.1 million shares.
Crescent Point Energy Corp. (TSX:CPG). Energy. Up 26 cents, or 2.2 per cent, to $12.08 on 6.2 million shares.
Companies in the news:
Rogers Communications Inc. (TSX:RCI.B). Down 54 cents to $63.94. Rogers Communications Inc. says the Competition Bureau's opposition to its proposed takeover of Shaw Communications Inc. is not supported by the evidence. The filing by the telecoms giant comes in response to the commissioner of competition's announcement in early May that it was seeking to block the $26-billion merger over concerns the deal would "substantially prevent or lessen competition in wireless services." Rogers says that the commissioner has failed to properly assess the quantifiable effects of the merger, and to properly weigh the efficiencies the transaction offers. The company also says its offer to divest Shaw's wireless division under the Freedom brand should largely address the commissioner's concerns about competition. In May, the commissioner said the proposed sale of Freedom would not be enough to address the competitive effects of the merger, arguing among other things that by selling Freedom, Shaw would be unable to bundle such services with its wireline business.
BRP Inc. (TSX:DOO). Down $10.43 or 10.4 per cent to $90.15. The head of BRP Inc. says supply chain woes crimped sales in its latest quarter, with more input obstacles expected on the Ski-Doo maker's path for the rest of the year. First-quarter revenues held steady but net income dropped by half from a year earlier due partly to plunging Sea-Doo and off-road vehicle sales prompted by supply disruptions. CEO José Boisjoli said the retail decline reflects limited product availability, not a lack of consumer demand. BRP reported first-quarter profits of $121 million versus $244.4 million a year earlier, while its year-over-year revenue stayed essentially flat at $1.81 billion. The maker of snowmobiles and personal watercraft said profits amounted to $1.46 per diluted share for the quarter ending April 30, down from $2.79 per diluted share in the same period a year earlier. Normalized net income for the quarter amounted to $1.66 per diluted share, down from $2.53 per diluted share a year earlier, BRP reported.
Shaw Communications Inc. (TSX:SJR.B). Up one cent to $35.71. Globalive Capital says it has gone straight to Shaw Communications Inc. with its $3.75-billion offer for wireless carrier Freedom Mobile due to a lack of engagement from Rogers Communications Inc. Globalive founder Anthony Lacavera said in an interview Friday that Rogers has "frozen" his firm out during the sale process and believes that Rogers is ultimately looking to sell Freedom to a company that might not be all that competitive in Canada's telecom industry. Rogers has declined to comment on the claims made by Lacavera, and Shaw did not immediately respond to a request for comment. The sale of Freedom is expected to be a condition of approval for Rogers' $26-billion purchase of Shaw, although the Competition Bureau said in a filing released to the public last month that the divestiture of Freedom wouldn't be enough to quell its concerns about the transaction. Lacavera said Globalive made the move not long before Rogers and Shaw extended the deadline to close their transaction, now set for July 31. He said he doesn't necessarily expect a response from Shaw before the end of July.
Choice Properties Real Estate Investment Trust. (TSX:CHP.UN). Up one cent to $14.99. Choice Properties Real Estate Investment Trust will acquire a 75 per cent ownership interest in 154 acres of industrial land in the Greater Toronto Area. Choice Properties intends to turn the East Gwillimbury land it acquired a stake in by exercising an equity conversion right from Rice Group into an industrial park with 167,225 square metres of logistics space. Loblaw Companies Limited will use more than 111,483 square metres to build an automated distribution facility it says will add capacity and new capabilities for the retailer. The grocery giant expects the facility at the corner of Highway 404 and Green Lane East to be in operation by the first quarter of 2024. The first phase of development includes a 100-acre land lease agreement Choice Properties and Loblaw entered into. Choice Properties and Rice Group’s total initial cost of the project is about $170 million, including land and site preparation, which they estimate will take 15 months.
This report by The Canadian Press was first published June 3, 2022.
The Canadian Press
