TORONTO — Some of the most active companies traded Tuesday on the Toronto Stock Exchange:
Toronto Stock Exchange (20,183.43, up 131.18 points.)
The Toronto-Dominion Bank. (TSX:TD). Financials. Up 81 cents, or 0.95 per cent, to $85.89 on 19.1 million shares.
TC Energy Corp. (TSX:TRP). Energy. Down 46 cents, or 0.74 per cent, to $61.36 on 16.1 million shares
Cenovus Energy Inc. (TSX:CVE). Energy. Up 44 cents, or 3.35 per cent, to $13.56 on 10.5 million shares.
Bombardier Inc. (TSX:BBD.B). Industrials. Down eight cents, or 3.67 per cent, to $2.10 on 8.8 million shares.
Suncor Energy Inc. (TSX:SU). Energy. Up 95 cents, or 3.54 per cent, to $27.81 on 8.7 million shares.
Canadian Natural Resources (TSX:CNQ). Energy. Up $1.19, or 2.5 per cent, to $49.13 on 7.7 million shares.
Companies in the news:
Canadian National Railway Co. (TSX:CNR). Up $1.24 to $148.24. The proxy battle between Canadian National Railway Co. and a leading shareholder has heated up with TCI Fund Management Ltd. defending itself from what it calls "inaccurate and misleading information" about its efforts. The British-based activist investor says its request for a special meeting of shareholders in March to push a slate of four new directors and seek a change in CEO is to hold CN's board accountable. TCI's statement came days after CN fired back at TCI for its own allegedly "false and misleading claims." On Tuesday, TCI denied the railway's claim that it is in a conflict of interest by being the largest shareholder of rival Canadian Pacific Railway Ltd. in addition to being the second-largest CN investor. It said its CN investment is valued at US$4.3 billion, larger than its US$3.7-billion investment in CP and US$1.2-billion investment in Union Pacific. TCI said it is not a "dissident shareholder" that only recently acquired its stake to assert effective control of the railway. It said it has owned CN shares since 2018 and is seeking to enhance the value for all shareholders by pushing for changes.
Canopy Growth Corp. (TSX:WEED). Up 55 cents or 3.4 per cent to $16.82. Canopy Growth Corp. and its U.S. subsidiary are denying they called their line of cannabidiol beverages Quatreau in order to capitalize on its similarity to the name of orange liqueur company Cointreau Corp. The Smiths Falls, Ont., cannabis company said in a New York court filing made on Sept. 21 that its Quatreau brand has “not infringed any applicable trademarks under federal or state law,” “is not confusingly similar to” and “has not diluted and is not likely to dilute” Cointreau’s trademarks and name. Canopy Growth fully or partially denied 112 of the 115 claims the French alcohol maker and its U.S. subsidiary made in a complaint and jury demand filed in July. The admissions were mostly facts like the company’s address, what flavours of Quatreau drinks it sells and that it is not required to obtain a licence or application to use branding similar to Cointreau’s. In its complaint, Cointreau, which is pronounced KWAN’troh, accused Canopy of using Quatreau, pronounced KWA’troh, “in order to unfairly capitalize on the goodwill and reputation of the Cointreau mark.” Cointreau sought a permanent injunction to keep Canopy from infringing on its trademarks and also asked for any profits Canopy made on products with the allegedly infringing trademarks and for the cannabis company to cover its costs and attorney fees.
This report by The Canadian Press was first published Oct. 5, 2021.
The Canadian Press
