TORONTO — Some of the most active companies traded Wednesday on the Toronto Stock Exchange:
Toronto Stock Exchange (20,792.43, down 135.78 points.)
Baytex Energy Corp. (TSX:BTE). Energy. Up 40 cents, or 4.8 per cent, to $8.75 on 14.6 million shares.
Crescent Point Energy Corp. (TSX:CPG). Energy. Up 45 cents, or 3.5 per cent, to $13.46 on 10.8 million shares.
Athabasca Oil Corp. (TSX:ATH). Energy. Down two cents, or 0.6 per cent, to $3.30 on 10.3 million shares.
TC Energy Corp. (TSX:TRP). Energy. Down 19 cents, or 0.3 per cent, to $73.77 on 8.7 million shares.
Arc Resources Ltd. (TSX:ARX). Energy. Up 24 cents, or 1.1 per cent, to $22.14 on 7.4 million shares.
Whitecap Resources Inc. (TSX:WCP). Energy. Up 26 cents, or 2.1 per cent, to $12.54 on 7.3 million shares.
Companies in the news:
Shopify Inc. (TSX:SHOP). Up $14.61 or 3.1 per cent to $491.13. A vote to grant Shopify Inc. chief executive Tobi Lütke key voting power passed by a slim margin, the company revealed. The Ottawa e-commerce giant announced Wednesday that 53.7 per cent of shareholders, excluding Lütke, voted Tuesday in favour of a plan that gave him, his family and affiliates 40 per cent of the company’s voting power under a new corporate governance structure, subject to conditions. Some 46.3 per cent of shareholders, excluding Lütke and his affiliates, voted against the proposal to give him a founder share. The lack of support Lütke’s share received stemmed in part from several proxy advisory firms, which compile reports for shareholders ahead of such votes. Glass, Lewis & Co did not support the plan and told clients last month the move limits shareholder rights and inadequately protects minority shareholder interests.
Dollarama Inc. (TSX:DOL). Up $3.68 or 5.3 per cent to $73.49. Discount retailer Dollarama Inc. has started rolling out new price pointsup to $5 as it adds new products and restocks others amid a shift in consumer spending patterns. The dollar store will now stock goods from under $1 to $5, the company said Wednesday as it reported quarterly earnings. The retailer reported higher sales and profit in the quarter ended May 1 as pandemic restrictions lifted and the hunt for bargains increased as shoppers continue to face soaring inflation. Stores saw an increase in shoppers and high demand for everyday consumables and seasonal products, said Dollarama president and CEO Neil Rossy. The company posted a profit of $145.5 million, up from $113.6 million in the same quarter last year, as its sales rose 12.4 per cent. Sales in the first quarter of the company’s 2023 financial year totalled $1.07 billion, up from $954.2 million. Comparable store sales rose 7.3 per cent.
Transcontinental Inc. (TSX:TCL.A). Up 36 cents or 2.3 per cent to $16.27. Transcontinental Inc. says its net profit attributable to shareholders dropped more than 20 per cent to $28.3 million in its latest quarter with the ending of a COVID-19 wage subsidy. The Montreal-based printing, media and packaging company says it earned 33 cents per share in what was the second quarter of its financial year, down from $35.6 million or 41 cents per share a year earlier. The results last year included $7.5 million from the Canada Emergency Wage Subsidy. The company’s adjusted profit for the quarter was $41.7 million or 48 cents per share, compared with $47.8 million or 55 cents per share in the same quarter last year. Revenue for the three months ended May 1 were $715.5 million, up 14.8 per cent from $623.3 million in the prior-year quarter,with packaging revenue climbing 21 per cent and printing up nine per cent.
Bausch + Lomb Corp. (TSX:BLCO). Down $1.13 or 5.7 per cent to $18.70. Bausch + Lomb Corp. reported its first-quarter profit fell compared with a year ago as its revenue edged higher. The company, which is being spun off from Bausch Health Companies Inc., says net income attributable to the company totalled US$20 million or six cents per diluted share for the quarter ended March 31. The result compared with a profit of US$27 million or eight cents per diluted share in the same quarter last year. Revenue for the company, which keeps its books in U.S. dollars, totalled US$889 million, up from US$881 million. Bausch + Lomb began trading on the New York Stock Exchange and Toronto Stock Exchange last month. Bausch Health expects to complete the spinoff following the expiry of customary lockups related to the IPO, achievement of target net leverage ratios and subject to market conditions and receipt of applicable shareholder and other necessary approvals.
This report by The Canadian Press was first published June 8, 2022.