stock pickers
New Gold sells its stake in one mine and cuts a deal on another to reduce its debt—and raises output to preserve cash flow.
Stronger sales and earnings will help Leon’s Furniture Ltd. take over Sears Home locations in B.C. and build on its acquisition of The Brick.
McCoy Global is laying off workers and consolidating its production in one facility to cut costs
SUNCOR ENERGY INC., $35.86, Toronto symbol SU, has completed its all-stock takeover of Canadian Oil Sands (Toronto symbol COS). Under the deal, Canadian Oil Sands investors received 0.28 of a Suncor share for each share they held. As a result, the Toronto Stock Exchange delisted Canadian Oil Sands’ shares on March 23, 2016. Based on Suncor’s share price just before the deal closed, it paid $4.8 billion for Canadian Oil Sands. If you include Canadian Oil Sands’ debt of $2.4 billion, the total price was $7.2 billion. To put that in context, Suncor’s market cap (the value of all outstanding shares) is $55.6 billion....
FEDEX CORP., $163.55, New York symbol FDX, jumped 13% this week after it reported better-than-expected quarterly results. It also increased its full-year earnings forecast. In the third quarter of its 2016 fiscal year, which ended February 29, 2016, the company earned $692 million. That’s up 18.1% from $586 million a year earlier. Earnings per share gained 23.6%, to $2.51 from $2.03, on fewer shares outstanding. These figures exclude costs to settle several lawsuits and other unusual items. On that basis, the latest earnings beat the consensus estimate of $2.34 a share....
Imperial Oil will focus on oil sands, refineries after selling 497 Esso stations–for double its 2015 earnings.
Dividend for Russel Metals seems sustainable and it’s managing long-term debt despite slower sales to energy producers.
IMPERIAL OIL LTD., $44.40, Toronto symbol IMO, is selling its 497 company-owned Esso gas stations to independent operators for $2.8 billion. Following the sale, franchisees will operate all of its 1,700 Esso stations across Canada. The buyers include Alimentation Couche-Tard (Toronto symbol ATD.B). It is purchasing 279 stations in Ontario and Quebec. (Alimentation Couche-Tard is a recommendation of Stock Pickers Digest, our newsletter that focuses on aggressive investments.) In addition, 7-Eleven Canada is getting 148 stations in Alberta and British Columbia. Parkland Fuel (Toronto symbol PKI), will buy 17 stations in Saskatchewan and Manitoba....
IMPERIAL OIL LTD. $44 (Toronto symbol IMO; Conservative Growth and Income Portfolios, Shares outstanding: 847.6 million; Market cap: $37.3 billion; Price-to-sales ratio: 1.5; Dividend yield: 1.3%; TSINetwork Rating: Average; www.imperialoil.ca) is selling its 497 company-owned Esso gas stations to independent operators for $2.8 billion. Following the sale, franchisees will operate all of its 1,700 Esso stations across Canada. The buyers include Alimentation Couche-Tard (Toronto symbol ATD.B). It is purchasing 279 stations in Ontario and Quebec. (Alimentation Couche- Tard is a recommendation of Stock Pickers Digest, our newsletter that focuses on aggressive investments.) In addition, 7-Eleven Canada is getting 148 stations in Alberta and British Columbia. Parkland Fuel (Toronto symbol PKI), will buy 17 stations in Saskatchewan and Manitoba....
IMPERIAL OIL LTD. $44 (Toronto symbol IMO; Conservative Growth and Income Portfolios, Shares outstanding: 847.6 million; Market cap: $37.3 billion; Price-to-sales ratio: 1.5; Dividend yield: 1.3%; TSINetwork Rating: Average; www.imperialoil.ca) is selling its 497 company-owned Esso gas stations to independent operators for $2.8 billion. Following the sale, franchisees will operate all of its 1,700 Esso stations across Canada. The buyers include Alimentation Couche-Tard (Toronto symbol ATD.B). It is purchasing 279 stations in Ontario and Quebec. (Alimentation Couche- Tard is a recommendation of Stock Pickers Digest, our newsletter that focuses on aggressive investments.) In addition, 7-Eleven Canada is getting 148 stations in Alberta and British Columbia. Parkland Fuel (Toronto symbol PKI), will buy 17 stations in Saskatchewan and Manitoba....