TORONTO — Some of the most active companies traded Wednesday on the Toronto Stock Exchange:
Toronto Stock Exchange (19,004.04, down 253.25 points.)
Voyager Digital Ltd. (TSX:VOYG). Technology. Down 84 cents, or 52.5 per cent, to 76 cents on 10.5 million shares.
Baytex Energy Corp. (TSX:BTE). Energy. Down 86 cents, or 12.0 per cent, to $6.30 on 10.5 million shares.
Canadian Natural Resources (TSX:CNQ). Energy. Down $3.61, or 5.1 per cent, to $67.36 on 9.8 million shares.
Suncor Energy Inc. (TSX:SU). Energy. Down $2.51, or 5.2 per cent, to $45.61 on 9.6 million shares.
Athabasca Oil Corp. (TSX:ATH). Energy. Down 31 cents, or 10.8 per cent, to $2.56 on 9.3 million shares.
Barrick Gold Corp. (TSX:ABX). Materials. Down 19 cents, or 0.8 per cent, to $25.11 on 9.1 million shares.
Companies in the news:
Empire Co. Ltd. (TSX:EMP.A). Down $3.69 or nine per cent to $37.22. The food going into grocery store shopping carts in Canada is changing as consumers face a nearly 10 per cent increase in food prices, Michael Medline, president and CEO of Empire and Sobeys, said Wednesday. Canadians are shopping around more, reducing impulse buys by sticking to shopping lists, and trading down from higher-cost items to more affordable products or brands, he said. They're also looking for more sales, shifting to discount banners and, at times, buying less overall. Both Loblaw Companies Ltd. and Metro Inc. shared similar details on shifting shopping habits in recent months. Medline's comments came as Empire reported a fourth-quarter profit of $178.5 million, up from $171.9 million a year earlier, as its sales also climbed higher. Sales in the 14-week period ending May 7 totalled $7.84 billion, up from $6.92 billion,helped by theadditional week of operations, the acquisition of Longo's, higher fuel sales, increased food inflation, and the expansion of FreshCo in Western Canada and Farm Boy in Ontario.
Aurora Cannabis Inc. (TSX:ACB). Down seven cents or four per cent to $1.70. Aurora Cannabis Inc. says it is laying off 12 per cent of its workforce as the company embarks on a reorganization. The Edmonton-based cannabis company confirmed the cut in an email to The Canadian Press, but did not share how many workers would be impacted, what roles they were in or where they were located. Spokesperson Kate Hillyar says the reorganization will allow Aurora to operate as a leaner, more agile and future-focused company it feels will be fit for success. She says the cuts are part of an additional $70 million to $90 million in cost savings Aurora identified in its third-quarter earnings as key to its path to profitability. Several cannabis companies, including Aurora, have been overhauling their operations to better align supply with demand in hopes of becoming profitable in the next few years. Earlier this year, Aurora announced it will close three facilities, including one in Edmonton, where 13 per cent of its global workforce was employed.
Loblaw Cos. Ltd. (TSX:L). Down 34 cents to $111.33. Loblaw Cos. Ltd. and food delivery company DoorDash Inc. today announced a collaboration that introduces a rapid grocery delivery service to customers in Canada. Customers will be able to order items from Loblaw retail stores, including Loblaws, Real Canadian Superstore and Shoppers Drug Mart, for delivery from DoorDash in 30 minutes or less. The collaboration will kick off in major Canadian cities, including Toronto, Vancouver and Calgary. Loblaw already has a grocery delivery partnership with Instacart, but the 30-minute delivery window will be exclusive to DoorDash. The agreement comes as DoorDash's share price on the New York Stock Exchange has tumbled more than 60 per cent from its November high. Financial terms of the partnership were not disclosed.
Canadian National Railway Co. (TSX:CNR). Up $1.15 to $142.28. Canadian National Railway Co. announced today plans to invest approximately $430 million in Ontario and $365 million in Alberta this year. The Montreal-based company says the investments will be in technology, capacity, rolling stock units and company-wide decarbonization initiatives, as well as network improvements. Transportation Minister Omar Alghabra said in a news release that the announcement will help "improve the fluidity of (Canada's) rail network against the unprecedented disruptions to service" in the last two years. CN Rail has invested more than $1 billion in Ontario and in Alberta in the last five years. The announcement comes just a few days after 750 CN railworkers from across the country represented by the International Brotherhood of Electrical Workers hit the picket line. The signal and communications workers are fighting for better wages and benefits. CN said operations remain uninterrupted under its contingency plan. It continues to encourage the union to end the strike through an agreement or binding arbitration.
This report by The Canadian Press was first published June 22, 2022.
The Canadian Press