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Today's TSX Market Movers: Centerra Gold, Converge Tech, Boyd Group, CAE, Canopy

Stock Markets Aug 10, 2022 15:23
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CAE
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CG
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By Ketki Saxena 

Inevesting.com -- At 3:15 p.m in Toronto, the S&P/TSX Composite Index was at19,853.69 points, up 1.41%in the day’s trading.

Here’s a roundup of the Canadian stocks most moving markets today. 

-22.0%: Centerra Gold (TSX:CG): shares tanked as the company reported a net loss of US$2.6 million in its latest quarter, compared to a net loss of US$851.7 million in the same quarter last year. The Toronto-based company, which keeps its books in U.S. dollars, said the decrease in net loss was primarily due to the loss of US$926.4 million recognized on the change of control of the Kumtor Mine in the second quarter of 2021.

+20.71% Converge Tech (TSX:CTS): as it smashed analyst expectations on earnings and posted strong year-on-year growth.  Shaun Maine, CEO of Converge noted “Converge grew by over 70% year-over-year across revenue, gross profit and Adjusted EBITDA,” adding that “Despite the macroeconomic challenges faced in the consumer market, business demand for digital transformation and hybrid IT solutions remains robust”

+19.41% Boyd Group (TSX:BYD):  delivered higher second-quarter profit and revenue, despite unfavourable macroeconomic conditions. Growth was driven by “Supported by strong same-store sales growth in both Canada and the U.S. as well as solid contributions from new location growth, glass and calibration services”, as noted by President and CEO Timothy o'Day 

-16.54% CAE (TSX:CAE) Inc: as the Montreal-based flight and health simulation company reported a steep drop in net income attributable to equity holders. CAE also lowered its annual growth outlook related to two U.S. program charges in the defence division and as a result of supply chain pressures, labour shortages and a slower defence contracting environment.

+14.19% Canopy Growth (TSX:WEED):  After heavy losses last week following its earning calls last week (posting a 19% year over year decline in sales due to both"lower production output and price compression”, Canopy was amongst today’s top performers as investors bought the dip in the pot producer. Canopy also saw unusually large options trading activity yesterday, seeing an increase of 31% call options compared to the average daily volumes.



Today's TSX Market Movers: Centerra Gold, Converge Tech, Boyd Group, CAE, Canopy
 

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