TORONTO — Some of the most active companies traded on the Toronto Stock Exchange on Tuesday: Toronto Stock Exchange (21,232.03, down 72.37 points.) Bombardier Inc. (TSX:BBD.B). Industrialists. Up 17 cents, or 14.7%, to $1.33 on 18.1 million shares.
TORONTO — Some of the most active companies traded on the Toronto Stock Exchange on Tuesday:
Toronto Stock Exchange (21,232.03, down 72.37 points.)
Bombardier Inc. (TSX:BBD.B). Industrialists. Up 17 cents, or 14.7%, to $1.33 on 18.1 million shares.
Baytex Energy Corp. (TSX: BTE). Energy. Up 27 cents, or 4.4%, to $6.35 on 17 million shares.
Suncor Energy Inc. (TSX: SU). Energy. Down 59 cents, or 1.4%, to $41.51 on 16.9 million shares.
Athabasca Oil Corp. (TSX:ATH). Energy. Up eight cents, or 3.3%, to $2.47 on 16.9 million shares.
Cenovus Energy Inc. (TSX:CVE). Energy. Up 42 cents, or 2%, to $21.37 on 14.9 million shares
B2Gold Inc. (TSX:BTO). Materials. Up 10 cents, or 1.8%, to $5.78 on 13.6 million shares.
Companies in the news:
Intertape Polymer Group Inc. (TSX: ITP). Up $16.98 or 76.2% to $39.26. Private equity firm Clearlake Capital Group LP has signed an agreement to buy Intertape Polymer Group Inc. for $2.6 billion including debt. Under the deal that will see IPG go private, Clearlake will pay C$40.50 per share in cash, representing an 82% premium to its last closing price. IPG Chief Executive Greg Yull said Clearlake will provide the operational and financial resources needed to accelerate the company’s acquisition strategy, as well as opportunities for organic growth. IPG Chairman James Pantelidis said the board determined the transaction was in the best interests of the company and shareholders after evaluating alternatives. Founded by Yull in 1981 and incorporated in Montreal in 1993, IPG manufactures a variety of products used for packaging, including tapes and films. It has approximately 4,100 employees at 34 sites, including 22 manufacturing plants in North America, five in Asia and two in Europe. The transaction, which is subject to customary closing conditions, including obtaining shareholder, regulatory and court approvals, is expected to close in the third quarter. A meeting of shareholders to approve the transaction is scheduled for May.
Transcontinental Inc. (TSX: TCL.A). Down $1.83 or 9.1% at $18.39. Transcontinental Inc. says its net income attributable to shareholders fell by a third in its latest quarter despite higher revenues as a variant of COVID-19 disrupted its operations. The Montreal-based printing, media and packaging company says it earned $18.4 million or 21 cents per share in the first quarter, down from $27.7 million or 32 cents per share a year ago. earlier. Adjusted earnings were $30 million or 35 cents per share, compared to $43.8 million or 50 cents per share in the first quarter of 2021. Revenue for the quarter ended Jan. 30 was $690.6 million, up 10.9% from $622.7 million in the previous quarter. quarter of the fiscal year, mainly due to higher resin prices and acquisitions. Analysts on average had expected adjusted earnings of 51 cents per share on $676.7 million in revenue, according to financial data firm Refinitiv. Managing Director Peter Brues said the financial results fell short of his expectations as the release of the Omicron variant caused major operational disruptions.
Transat AT (TSX:TRZ). Up 26 cents or 6.1% to $4.51. After two grueling years, Air Transat and Porter Airlines have signed a codeshare agreement that it hopes will attract customers to a wider range of connecting flights in Canada and abroad. The first phase of the deal will focus on connecting Porter’s operations at Billy Bishop Toronto City Airport and Halifax Airport to Air Transat’s hub in Montreal, the airlines said. Due to come into effect this summer as travel demand rebounds, the codeshare deal will see each airline sell, under its own code, flights operated by its partner. The agreement allows travelers to combine flight segments on a single ticket and check baggage only once. Porter Airlines chief executive Michael Deluce said the deal complements his airline’s growth plans, which include adding jets and flights from Toronto’s Pearson International Airport later. This year. Porter resumed flying in September for the first time since March 2020 after grounding its fleet due to COVID-19 restrictions. The 16-year-old carrier operates flights to more than a dozen cities in central and eastern Canada and five US destinations.
This report from The Canadian Press was first published on March 8, 2022.
The Canadian Press