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AURORA, Ont. 鈥?Magna International says fewer vehicles are rolling off the assembly line during the COVID-19 pandemic, dragging sales down two pe
stanley canada r cent in the three months that Sept. 30.But the Aurora, Ont.-
stanley hrnek based auto parts manufacturer says it earned $405 million profit on sales of $9.13 billion in the third quarter, returning to profitability after losing money last summer.The results worked out to earnings of $1.35 per diluted share, or $1.95 per share, adjusted 鈥?above the forecasted earnings of $1.33 per share on sales of $9.07 billion expected by analysts polled by Refinitiv. ARTICLE CONTINUES BELOW During the same period in 2019 there was a labour strike at General Motors in the U.S., and the automaker lost $233 million, or 75 cents per diluted share, on sales of $9.32 billion.Magna says it now it expects slightly better results for the full year, raising its 2020 sales expectations to $31.5 billion to $32.5 billion. ARTICLE CONTINUES BELOW The company board announced a dividend of 40 cents per share for the third quarter.This report by The Canadian Press was first published Nov.6, 2020. ARTICLE CONTINUES BELOW Companies in this story: TSX:MG ARTICLE CONTINUES BELOW
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MISSISSAUGA, Ont. 鈥?Cargojet Inc. shares surged to a record high after it reported that revenues soared 65 per cent as e-commerce activity was driven by work-from-home activity during the COVID-19 lockdowns.Its shares gained 15.3 per cent or $25.45 to $191.83 in late morning trading on the Toronto Stock Exchange.Revenues soared to $196.1 million from $119.1 million in the second quarter of 2019 as large online retailers and thousands of small- and medium-sized businesses moved their sales to online channels. ARTICLE CONTINUES BELOW Statistics Canada s
stanley cup aid April e-commerce sales as a percentage of total retail sales doubled to 14 per cent compared with the first quarter and were up 120 per cent in May compared with the prior year quarter.The Ontario-based company, which provides time sensitive overnig
stanley cup ht air cargo services, says it lost $45.1 million or $2.89 per share, compared with net earnings of 32 cents per share or $4.3 million a year earlier.
stanley shop ARTICLE CONTINUES BELOW Cargojet was expected to earn 49 cents per share on $127.6 million of revenues, according to financial markets data firm Refinitiv.Cargojet carries more than over 3.6 million kilograms of cargo weekly on its fleet of 26 aircraft. ARTICLE CONTINUES BELOW Reduced global air cargo capacity, as a result of extremely reduced passenger flights, led to strong