TORONTO — Some of the most active companies traded Monday on the Toronto Stock Exchange:
Toronto Stock Exchange (20,035.30, up 6.11 points.)
BCE Inc. (TSX:BCE). Telecommunications. Up 26 cents, or 0.43 per cent, to $61.33 on 19.1 million shares.
BlackBerry Ltd. (TSX:BB). Technology. Up $2.27, or 13.56 per cent, to $19.01 on 16 million shares
Suncor Energy Inc. (TSX:SU). Energy. Down 10 cents, or 0.33 per cent, to $30.69 on 15.2 million shares.
Canadian Natural Resources (TSX:CNQ). Energy. Down 10 cents, or 0.22 per cent, to $45.32 on 9.9 million shares.
Enbridge Inc. (TSX:ENB). Energy. Up 57 cents, or 1.21 per cent, to $47.74 on eight million shares.
Manulife Financial Corp. (TSX:MFC). Financials. Down 11 cents, or 0.44 per cent, to $25.14 on 6.9 million shares.
Companies in the news:
Air Canada (TSX:AC). Down five cents to $26.95. An economist says the recent decision by Air Canada executives to voluntarily give back their bonuses is an incredibly rare case of an about-face on compensation from a company. David Macdonald, a senior economist with the Canadian Centre for Policy Alternatives, says it's unusual for public outcry to be successful in nudging C-Suite employees to return their bonuses. The airline announced Sunday its president and CEO, as well as its executive vice-presidents, had volunteered to return their 2020 bonuses and share appreciation units after “public disappointment” grew over its compensation program. In the statement, it said former president and CEO Calin Rovinescu, who retired in February, will be donating the value of his 2020 bonus to the Air Canada Foundation. Both Prime Minister Justin Trudeau and Finance Minister Chrystia Freeland expressed their displeasure with the company’s bonus program last week after the airline disclosed millions in bonuses to people it called "instrumental" to the airline's survival during the pandemic. The federal government paid $500 million for a six per cent stake in Air Canada and also agreed to a $5.9-billion loan package for the airline in April.
Well Health Technologies Corp. (TSX:WELL). Up 71 cents or 9.9 per cent to $7.88. Well Health Technologies Corp. said it will be the largest private-sector operator of outpatient medical clinics in Canada with a deal Monday to buy MyHealth Partners Inc. Vancouver-based Well Health said it has signed an agreement to buy Toronto-based MyHealth Partners Inc. for up to $266.3 million, adding 48 clinics in Ontario to its growing portfolio of medical businesses. Well Health chief executive Hamed Shahbazi said that it's his company's 10th acquisition this year, including CRH Medical Corp., a Vancouver-based surgical equipment company that it bought in April for the equivalent of $470 million. MyHealth, founded in 2013, has 760 health-care professionals, including doctors, who provide primary care, specialty care, telehealth services and diagnostic services under Ontario's provincial health insurance program. About 75 per cent of MyHealth's medical consultations are done through telehealth technology, some of it provided by Well Health's group of companies. Under the deal, which is expected to close in the third quarter, Well will pay $82 million in cash, $94.3 million in shares at a deemed price per share of $9.80 and $30 million in convertible promissory notes.
Lightspeed POS Inc. (TSX:LSPD). Up 49 cents to $87.21. Lightspeed POS Inc. is continuing its acquisition spree and efforts to consolidate the e-commerce industry with a pair of deals valued at US$925 million. The Montreal company, which sells software for small and medium-sized retailers and restaurants, announced Monday that it will buy e-commerce company Ecwid and wholesale software business NuOrder. Under the first deal, Lightspeed will buy Encinitas, Calif.-based Ecwid for US$$500 million, including US$175 million in cash and US$325 million in Lightspeed shares. Ecwid, which was founded in 2009 to enable small businesses to easily add online stores to their existing sites, boasts about having 130,000 paying customers across more than 100 countries. The second deal will see Lightspeed pay US$425 million, including half in cash and half in Lightspeed shares, for Los Angeles-based NuOrder, a business-to-business e-commerce platform. NuOrder has worked with more than 3,000 brands including Coach, Converse, Canada Goose, Steve Madden, JW Anderson and Helmut Lang. Lightspeed's acquisitions come as the e-commerce industry is facing increasing attention amid the COVID-19 pandemic, which pushed businesses to pivot online as temporary lockdowns and closures were enacted.
This report by The Canadian Press was first published June 7, 2021.
The Canadian Press