TORONTO - Some of the most active companies traded Monday on the Toronto Stock Exchange:
Toronto Stock Exchange (21,072.32, down 12.13 points.)
Suncor Energy Inc. (TSX:SU). Energy. Up 13 cents, or 0.4 per cent, to $33.71 on 10 million shares.
The Toronto-Dominion Bank (TSX:TD). Financials. Down 41 cents, or 0.4 per cent, to $99.73 on 8.8 million shares.
Enbridge Inc. (TSX:ENB). Energy. Up 35 cents, or 0.7 per cent, to $51.63 on 7.9 million shares.
Crescent Point Energy Corp. (TSX:CPG). Energy. Up 14 cents, or 1.8 per cent, to $7.84 on 6.9 million shares.
Manulife Financial Corp. (TSX:MFC). Financials. Up 11 cents, or 0.4 per cent, to $25.63 on 6.9 million shares.
Tilray Inc. (TSX:TLRY). Health care. Up $1.10, or 13.5 per cent, to $9.23 on 5.7 million shares.
Companies in the news:
Tilray Inc. — The scores of new entrants to the cannabis market combined with plunging prices have resulted in an "unsustainable" situation, Tilray Inc. executives say, but one they feel their company can weather. Blair MacNeil, president of the cannabis company's Canadian business, said Monday that 157 new pot brands were launched in the country in the last year and pricing across the market has dropped by 22.6 per cent, while Tilray has only shaved 1.7 per cent off prices. The country's cannabis producers have a glut of product they are anxious to move as Canada grapples with renewed pandemic restrictions and the continued resiliency of the illicit pot market. Cannabis companies, which have endured lengthy retail lockdown measures and are already limited in how they market their products, have spent much of the health crisis slashing prices and looking at their offerings with a critical eye. Tilray reported Monday a net income of almost US$6 million in its latest quarter, compared with a net loss of roughly US$89 million in the same quarter last year. It also said its revenue climbed by about 20 per cent to reach US$155 million, up from US$129 million during the same period last year.
Linamar Corp. (TSX:LNR). Down 77 cents to $77.68. Frank Hasenfratz, a Hungarian immigrant who founded Linamar Corp. and built it into a booming auto parts maker, has died. He was 86. The Guelph, Ont., company said that Hasenfratz, who had cancer, died Saturday surrounded by his family. Hasenfratz was born in Hungary in 1935 and immigrated to Canada in 1957. In a speech Mississauga-Lakeshore MPP Rudy Cuzzetto made in the Ontario legislature last month, he said Hasenfratz came to Canada because he was in an army unit in Hungary that destroyed two Soviet Union tanks and knew if he stayed in the country, he would likely be tortured or executed. When he arrived in Ontario, he worked in a machine shop making fuel pumps for Ford Motor Co., where he discovered about a quarter of the pumps were defective, Cuzzetto said. Frustrated with the situation, Hasenfratz quit Ford and won a contract to supply the fuel pumps himself, the politician added. He produced those pumps through Linamar, which he started in the basement of his family home as a one-man operation in 1966. Hasenfrantz named the company after his wife Margaret and daughters Linda and Nancy. Linda is the company's current CEO.
This report by The Canadian Press was first published Jan. 10, 2022.