option

An option offers its holder the right to buy or sell a particular security at a specific price within a specific time frame. Two kind of options are put options and call options.

Wal-Mart opened its first store in Rogers, Arkansas, in 1962. It has since grown to become the world’s biggest retailer, with 11,453 locations in the U.S. and 26 other countries. The company was one of the first to use computerized cash registers. That not only sped up checkout lines but gave Wal-Mart valuable data it could use to identify popular products in its various markets. As a result, it was able to keep top-selling items in stock and cut down on clearance sales. At the same time, Wal-Mart’s continued growth let it negotiate better prices from suppliers. The retail business continues to change, particularly as consumers buy more goods online. As well, many younger shoppers in cities prefer local stores instead of driving to suburban malls....
CANADIAN TIRE CORP. $118 (Toronto symbol CTC.A; Conservative Growth Portfolio, Consumer sector; Shares outstanding: 78.1 million; Market cap: $9.2 billion; Price-to-sales ratio: 0.7; Dividend yield: 1.8%; TSINetwork Rating: Above Average; www.canadiantire.ca) began operating in 1922 and is now one of Canada’s leading retailers.

The company owns 493 Canadian Tire stores, which sell automotive, household and sporting goods. Franchisees run most of these outlets. Other operations include 300 gas stations and 91 PartSource auto parts stores.

Canadian Tire has acquired more-specialized retailers to help it compete with big U.S.-based chains like Wal-Mart and Home Depot. In 2002, it bought Mark’s Work Wearhouse, which sells casual and work clothing through 383 stores. It later shortened the name to Mark’s as it added more women’s clothing and other merchandise.

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RESTAURANT BRANDS INTERNATIONAL INC., $52.21, Toronto symbol QSR, took its current form on December 12, 2014, as a result of Burger King Worldwide’s (old symbol BKW) acquisition of Tim Hortons Inc. (old symbol THI). Restaurant Brands is the world’s third-largest fast-food chain, after McDonald’s and Yum Brands, with 14,372 Burger King outlets and 4,671 Tim Hortons locations in 100 countries. In the three months ended December 31, 2014, the company lost $514.2 million, or $2.52 a share, compared to a profit of $66.8 million, or $0.19 (all amounts except share price in U.S. dollars). If you exclude merger costs and other unusual items, gross earnings before depreciation, interest and taxes rose 23.1%....
Canadian Tire’s shares have jumped 24% in the past year, mainly thanks to its successful takeover of the Forzani chain of sporting goods stores. It has also made deals that have helped unlock the hidden value of its credit card business and real estate holdings. We feel the stock still has plenty of room to rise, for a number of reasons. For one, Canadian Tire’s new growth plan should help it compete with online sellers and attract younger shoppers. It also stands to gain from Target’s decision to close all 133 of its Canadian locations. CANADIAN TIRE CORP. $118 (Toronto symbol CTC.A; Conservative Growth Portfolio, Consumer sector; Shares outstanding: 78.1 million; Market cap: $9.2 billion; Price-to-sales ratio: 0.7; Dividend yield: 1.8%; TSINetwork Rating: Above Average; www.canadiantire.ca) began operating in 1922 and is now one of Canada’s leading retailers....
WAL-MART STORES INC. $84 (New York symbol WMT; Conservative Growth Portfolio: Consumer sector; Shares outstanding: 3.2 billion; Market cap: $268.8 billion; Price-to-sales ratio: 0.6; Dividend yield: 2.3%; TSINetwork Rating: Above Average; www.walmart.com) gets about 60% of its sales from its 4,516 stores in the U.S., including 3,407 supercentres, which sell both groceries and general merchandise. Groceries now supply 56% of Wal-Mart’s U.S. sales.

In 1991, the company opened its first store outside of the U.S. through a joint venture with a Mexican retailer. Its international division (29% of total sales) now operates 6,290 stores in 26 countries.

The remaining 11% of Wal-Mart’s sales comes from its Sam’s Club warehouse stores. The company charges customers a $45 annual membership fee to shop at these stores, which sell a variety of goods at wholesale prices. There are currently 647 Sam’s Club stores in the U.S. and other countries.

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AutoCanada Inc., $38.29, symbol ACQ on Toronto (Shares outstanding: 24.5 million; Market cap: $886.8 million; www.autocan.ca), has 46 franchised car dealerships in eight provinces. The company sells numerous brands, including Chrysler, Dodge, Jeep, Ram, Fiat, Chevrolet, GMC, Buick, Cadillac, Nissan, Hyundai, Subaru, Audi, Volkswagen and BMW. However, Chrysler vehicles (including Dodge, Jeep, Ram and Fiat) supply around 70% of its revenue. In 2013, AutoCanada’s dealerships sold roughly 36,000 vehicles and processed about 364,000 repair and maintenance orders in their 381 service bays....
Over 30 billion devices— including things like home thermostats and appliances— will be connected to the Internet by 2020. That means you’ll be able to control them with a smartphone, set them up to adapt to factors like outside temperatures and have them notify you if, for example, there is smoke or carbon monoxide in your home. This is known as the “Internet of Things.” The best way to profit from it is with companies like Intel and Cisco, which already power much of the Web’s infrastructure. Another option is Texas Instruments, a leading maker of chips for individual devices....
RESTAURANT BRANDS INTERNATIONAL $48 (www.rbi.com) is the new company formed by the merger of Tim Hortons Inc. (old symbol THI) and Burger King Worldwide (old symbol BKW).

Restaurant Brands is the world’s third-largest fast-food chain, after McDonald’s and Yum Brands, with 14,000 Burger King restaurants and 4,590 Tim Hortons outlets in 100 countries. In all, these locations have annual sales of over $23 billion U.S.

Roughly 72% of Tim Hortons shareholders opted to receive 3.0879 shares of the new company for each Tim Hortons share they held. A further 26% chose the default option of $65.50 in cash plus 0.8025 of a Restaurant Brands share, while 2% picked the all-cash option of $88.50 a share.

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RESTAURANT BRANDS INTERNATIONAL $48 (www.rbi.com) is the new company formed by the merger of Tim Hortons Inc. (old symbol THI) and Burger King Worldwide (old symbol BKW). Restaurant Brands is the world’s third-largest fast-food chain, after McDonald’s and Yum Brands, with 14,000 Burger King restaurants and 4,590 Tim Hortons outlets in 100 countries. In all, these locations have annual sales of over $23 billion U.S. Roughly 72% of Tim Hortons shareholders opted to receive 3.0879 shares of the new company for each Tim Hortons share they held. A further 26% chose the default option of $65.50 in cash plus 0.8025 of a Restaurant Brands share, while 2% picked the all-cash option of $88.50 a share....
RESTAURANT BRANDS INTERNATIONAL INC. $35 (New York symbol QSR; Aggressive Growth Portfolio, Consumer sector; Shares outstanding: 483.3 million; Market cap: $16.9 billion; Priceto- sales ratio: 0.7; Dividend yield: n.a.; TSINetwork Rating: Average; www.rbi.com) is the new company formed by the merger of Tim Hortons Inc. (old symbol THI) and Burger King Worldwide (old symbol BKW). Restaurant Brands is the world’s third-largest fast-food chain, after McDonald’s and Yum Brands, with 14,000 Burger King restaurants and 4,590 Tim Hortons outlets in 100 countries. In all, these locations have annual sales of over $23 billion. Roughly 72% of Tim Hortons shareholders opted to receive 3.0879 shares of the new company for each Tim Hortons share they held. A further 26% chose the default option of $65.50 (Canadian) in cash plus 0.8025 of a Restaurant Brands share, while 2% picked the all-cash option of $88.50 (Canadian) a share....