TORONTO — Some of the most active companies traded Wednesday on the Toronto Stock Exchange:
Toronto Stock Exchange (19,078.64, down 144.10 points.)
Whitecap Resources Inc. (TSX:WCP). Energy. Down 63 cents, or 6.5 per cent, to $9.12 on 11.5 million shares.
Bank of Nova Scotia (TSX:BNS). Financials. Up 34 cents, or 0.4 per cent, to $76.98 on 9.3 million shares.
Crescent Point Energy Corp. (TSX:CPG). Energy. Down 77 cents, or 7.6 per cent, to $9.37 on 8.1 million shares.
Athabasca Oil Corp. (TSX:ATH). Energy. Down nine cents, or 3.5 per cent, to $2.50 on 6.4 million shares.
Baytex Energy Corp. (TSX:BTE). Energy. Down 44 cents, or 6.5 per cent, to $6.36 on 6.3 million shares.
Power Corp. (TSX:POW). Down 42 cents, or 1.2 per cent, to $33.32 on 5.9 million shares.
Companies in the news:
Alimentation Couche-Tard Inc. (TSX:ATD). Down 74 cents or 1.4 per cent to $52.64. The rising cost of living may have contributed to a surge in cigarette smuggling in Canada, Alimentation Couche-Tard Inc. said Wednesday. CEO Brian Hannasch told analysts that inflation has resulted in other shifts in consumer behaviour, such as putting less gas in the tank each visit in the U.S. Hannasch said he's satisfied with traffic into stores, but consumers are buying brands at lower prices. He said its development of private label offerings has paid off with sales growing by double digits in the United States. Couche-Tard announced after markets closed Tuesday that its net profit decreased 15.3 per cent to US$477.7 million in the fourth quarter after it took a US$56.2-million pre-tax charge for the impairment of its Russian subsidiaries. In April, the retailer announced the suspension of operations at 38 stores in Russia following the country's invasion of Ukraine. Revenues increased 34 per cent to US$16.4 billion from US$12.2 billion.
Corus Entertainment Inc. (TSX:CJR.B). Down 31 cents or 7.8 per cent to $3.67. Corus Entertainment Inc.'s chief executive said Wednesday that a recession is something he is "confident" the company can manage through. Doug Murphy said the company has put together a portfolio of businesses that is designed to be more resilient to withstand potential recessionary pressures. The media and entertainment company has levers it can pull to manage its cost structure in the event of a recession, he explained, like adjusting the timing of content being aired and being more disciplined around expenses. Corus reported Wednesday that its net income attributable to shareholders totalled $29.6 million or 14 cents per diluted share for the third quarter ending May 31, down from $40.7 million or 19 cents per diluted share a year earlier. Revenue for the three-month period totalled $433.5 million, up from $402.3 million. The increase came as revenue at the company's television business rose to $404.1 million compared with $379.8 million a year ago. Radio revenue at Corus totalled $29.3 million for the quarter, up from $23.2 million in the same quarter last year.
This report by The Canadian Press was first published June 29, 2022.
The Canadian Press