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Most actively traded companies on the Toronto Stock Exchange

TORONTO — Some of the most active companies traded Thursday on the Toronto Stock Exchange: Toronto Stock Exchange (19,542.95, up 125.92 points.) Manulife Financial Corp. (TSX:MFC). Financials. Unchanged at $24.91 on 15.9 million shares. Enbridge Inc.

TORONTO — Some of the most active companies traded Thursday on the Toronto Stock Exchange:

Toronto Stock Exchange (19,542.95, up 125.92 points.)

Manulife Financial Corp. (TSX:MFC). Financials. Unchanged at $24.91 on 15.9 million shares.

Enbridge Inc. (TSX:ENB). Energy. Up 51 cents, or 1.11 per cent, to $46.55 on 12.1 million shares.

Suncor Energy Inc. (TSX:SU). Energy. Up 11 cents, or 0.4 per cent, to $27.81 on eight million shares. 

Sun Life Financial Inc. (TSX:SLF). Financials. Down 24 cents, or 0.37 per cent, to $64.91 on 7.9 million shares.

Canadian Natural Resources (TSX:CNQ). Energy. Down 14 cents, or 0.35 per cent, to $40.08 on 5.8 million shares. 

Teck Resources Ltd. (TSX:TECK.B). Materials. Down 89 cents, or 3.13 per cent, to $27.56 on 4.8 million shares.

Companies in the news: 

Canadian Pacific Railway Ltd. (TSX:CP). Up $2.16 or 2.3 per cent to $97.21. Canadian Pacific Railway Ltd. has told Kansas City Southern that it won't raise its takeover bid and urged the U.S. railway to reject rival CN Rail's US$33.6-billion offer that it claims won't be approved by the U.S. regulator. In a letter ahead of its deadline to respond to CN's revised offer, CP Rail chief executive Keith Creel said the Calgary-based railway won't "engage in a bidding war in reaction to CN's illusory offer." He said several recent events, including the Department of Justice's opposition and the Surface Transportation Board's decision that stricter merger rules will be used to evaluate CN Rail's voting trust, are enough for KCS to no longer consider CN's bid to be superior. In a presentation to an investor conference, Creel acknowledged having held "high-level discussions" with a potential investor that could help the railway raise its offer. Creel described CN Rail as "an interloper" that's willing to take on huge debt to deliver an offer that can't be successful.

Hexo Corp. (TSX:HEXO). Up nine cents or 1.3 per cent to $7.03. Hexo Corp. is mulling a private label strategy as part of its U.S. expansion. The chief executive of the Ottawa-based cannabis company said Thursday that he's considering approaching multi-state operators in the U.S. to partner on Hexo-powered private label brands. According to Sebastien St-Louis, that arrangement would leverage Hexo's technology to help multi-state operators boost their product quality and margins while lowering costs. The insight into Hexo's strategy comes as Canadian cannabis companies are beginning to plot U.S. expansions in hopes that the market will soon federally legalize cannabis, which Senate Majority Leader Chuck Schumer has been pushing for. Hexo's rivals, including Canopy Growth Corp., Aurora Cannabis Inc. and Tilray Inc., have all indicated that they're increasingly eyeing the U.S. and many have been on an acquisition spree to prepare themselves for eventual entries into the market. Hexo recently signed purchase and sale agreements for a 4,645 square-metre (50,000 square-foot) cannabis production facility in Northern Colorado.

Shaw Communications Inc. (TSX:SJR.B). Up 39 cents or 1.1 per cent to $36.03. Shaw Communications Inc. shareholders have voted to approve the company's sale to Rogers Communications Inc. for $26 billion, including debt. Under the plan, Rogers will pay $40.50 in cash for all of Shaw's issued and outstanding class A and class B shares. The deal still requires approval from Canadian regulators including the Competition Bureau and the CRTC. Innovation, Science and Economic Development Canada is also reviewing the agreement. The proposed deal has faced stiff opposition from consumer groups, academics, customers and others since Rogers and Shaw announced their agreement earlier this year. As part of the transaction, the companies said Rogers will invest $2.5 billion in 5G networks over the next five years across Western Canada.

Lightspeed POS Inc. (TSX:LSPD). Up $10.50 or 15.1 per cent to $80.11. The COVID-19 pandemic has helped small and medium-sized businesses better position themselves in their fight against e-commerce giants like Amazon.com Inc., the chief executive of Lightspeed POS Inc. says. Dax Dasilva, who is at the helm of the Montreal software company, said Thursday that many independent businesses have been helped by their move away from brick-and-mortar locations only to a combination of physical and e-commerce offerings. Lightspeed, which sells software for small and medium-sized retailers and restaurants, spent much of the last year helping its clients adopt e-commerce offerings to deal with the pandemic and soaring interest in online shopping. Big-box chains, department stores and online goliaths were well prepared for the shift, but small businesses that had long thrived on in-person sales from local shoppers experienced a complete disruption as lockdowns swept the globe. Lightspeed's products helped them move online, but the lockdowns still weighed on the company's earnings. Its fourth quarter, announced Thursday, included a US$42-million net loss, more than double the US$18.6 million loss it reported in the same quarter a year. Revenue doubled to US$82.4 million.

This report by The Canadian Press was first published May 20, 2021.

The Canadian Press

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