TORONTO — Some of the most active companies traded Wednesday on the Toronto Stock Exchange:
Toronto Stock Exchange (20,165.58, down 5.44 points.)
Roxgold Inc. (TSX:ROXG). Materials. Up three cents, or 1.6 per cent, to $1.89 on 9.5 million shares.
The Toronto-Dominion Bank. (TSX:TD). Financials. Down seven cents, or 0.08 per cent, to $86.87 on 6.8 million shares.
TC Energy Corp. (TSX:TRP). Energy. Up six cents, or 0.1 per cent, to $61.34 on 6.3 million shares.
Bombardier Inc. (TSX:BBD.B). Industrials. Down three cents, or 2.5 per cent, to $1.17 on 5.9 million shares.
Enbridge Inc. (TSX:ENB). Energy. Up 23 cents, or 0.47 per cent, to $49.63 on 5.8 million shares.
Power Corp. of Canada. (TSX:POW). Financials. Up eight cents, or 0.21 per cent, to $39.18 on 5.5 million shares.
Companies in the news:
Lightspeed POS Inc. (TSX:LSPD). Down $2.08 or two per cent to $103.75. Lightspeed POS Inc. shareholders will vote this summer on whether to change the company's name. The Montreal-based technology business says shareholders will decide whether the company is renamed Lightspeed Commerce Inc. Lightspeed says in its circular that is considering a change because it wants a name that more accurately represents the full scope of services it provides. The POS in its current name refers to the point-of-sale technology it offers, but the company says it wants to better convey that it is a one-stop commerce platform with several offerings. The notice is included in an information circular for the meeting, to be held Aug. 5. A name change needs approval from about 66 per cent of the votes cast. If enough shareholders vote in favour of the new name, Lightspeed says it will file articles of amendment to have the change formally made.
Alimentation Couche-Tard Inc. (TSX:ATD.B). Up $1.53 or 3.5 per cent to $45.55. Alimentation Couche-Tard Inc. remains on the path to doubling its pre-tax profits by 2023 as its business moves toward pre-pandemic levels, its CEO said Wednesday. The Quebec-based convenience store retailer beat expectations in its fourth quarter as fuel margins surged despite lower volumes as people haven't yet fully resumed their driving habits. Couche-Tard expects to double its earnings before interest, taxes, depreciation and amortization from 2018 levels to about US$6 billion in its 2023 financial year by growing existing sales through a series of efforts including expanding fresh food sales and acquisitions. Chief executive Brian Hannasch told analysts during a conference call that the company has made "notable progress" in accelerating organic growth by expanding fresh food to 2,000 stores, including expanding its Fresh Food, Fast program to Canada in the quarter. It plans to add fresh food to more than 3,000 locations in fiscal 2022. It remains on the hunt for acquisitions, primarily in the United States, but also plans to expand its Asian base in Hong Kong to countries such as Vietnam. Couche-Tard beat expectations as its adjusted profit increased 11 per cent to 52 cents US in the quarter, which was 21 per cent above analyst forecasts.
Cogeco Communications Inc. (TSX:CCA). Up $6.10 or 5.3 per cent to $121.21. Cogeco Communications Inc.'s main U.S. subsidiary has signed a deal to buy a broadband system in Ohio from WideOpenWest Inc. for US$1.125 billion, the companies said Wednesday. Cogeco, which offers internet, television and telephone services in both Canada and the United States, said the deal will be a complementary addition to Atlantic Broadband's operations in 11 eastern states. The WOW Ohio system serves about 196,000 internet, 61,000 video and 35,000 telephone customers in Cleveland and Columbus, Ohio. Atlantic Broadband president Frank van der Post said he expects WOW Ohio will be able to grow its customer base with help from Cogeco's expertise and investment. Van der Post said the WOW Ohio system is very close to Atlantic Broadband's system in Pennsylvania. The two systems would be integrated and then the Ohio system's capacity would be upgraded. The deal will be financed through US$900 million in secured debt as well as available cash on hand.
This report by The Canadian Press was first published June 30, 2021.
The Canadian Press
