stock split

CANADIAN TIRE CORP., $108.49, Toronto symbol CTC.A, earned $169.9 million in the quarter ended June 28, 2014, up 9.7% from $154.9 million a year earlier. Earnings per share gained 11.0%, to $2.12 from $1.91, on fewer shares outstanding. That easily beat the consensus estimate of $2.02. Overall sales rose 4.8%, to $3.2 billion from $3.0 billion. Strong demand for spring-related goods, such as garden tools, auto supplies and bicycles, increased same-store sales by 2.8% at the 493 Canadian Tire outlets....

ALIMENTATION COUCHETARD $29.50 (Toronto symbol ATD.B: TSINetwork Rating: Extra Risk) (1-800-361-2612; www.couchetard.com; Shares outstanding: 565.8 million; Market cap: $16.6 billion; Dividend yield: 0.5%) plans to keep looking for big acquisitions like its $2.7-billion purchase of Norway’s Statoil Fuel & Retail gas station chain in June 2012. However, the company has a long history of not overpaying for acquisitions; in 2010, it dropped its $2-billion U.S. hostile takeover offer for Casey’s General Stores after competitor 7-Eleven outbid it. And earlier this year, it stayed out of the running to buy oil and gas giant Hess Corp.’s 1,354 U.S. gas stations and convenience stores. Marathon Petroleum eventually paid $2.9 billion. Meanwhile, Couche-Tard’s sales rose 2.0% in the quarter ended April 27, 2014, to $9.0 billion from $8.8 billion a year ago. Earnings per share rose 10.0%, to $0.22 from $0.20. (All figures except share price and market cap in U.S. dollars. Per-share amounts adjusted for a 3-for-1 stock split on April 14, 2014)....

ALIMENTATION COUCHE-TARD, $29.34, symbol ATD.B on Toronto, has reported higher sales and earnings in the latest quarter, as well as a dividend increase. In the three months ended April 27, 2014, Couche-Tard’s sales rose 2.0%, to $9.0 billion from $8.8 billion a year earlier. Excluding one-time items, per-share earnings gained 10.0%, to $0.22 from $0.20 (all figures adjusted for Couche-Tard’s 3-for-1 stock split on April 14, 2014). The company is raising its quarterly dividend by 20.0% with the July 2014 payment, to $0.04 from $0.033. The shares now yield 0.6%....

ALIMENTATION COUCHETARD $29.50 (Toronto symbol ATD.B: TSINetwork Rating: Extra Risk) (1-800-361-2612; www.couchetard.com; Shares outstanding: 565.8 million; Market cap: $16.6 billion; Dividend yield: 0.5%) plans to keep looking for big acquisitions like its $2.7-billion purchase of Norway’s Statoil Fuel & Retail gas station chain in June 2012.

However, the company has a long history of not overpaying for acquisitions; in 2010, it dropped its $2-billion U.S. hostile takeover offer for Casey’s General Stores after competitor 7-Eleven outbid it. And earlier this year, it stayed out of the running to buy oil and gas giant Hess Corp.’s 1,354 U.S. gas stations and convenience stores. Marathon Petroleum eventually paid $2.9 billion.

Meanwhile, Couche-Tard’s sales rose 2.0% in the quarter ended April 27, 2014, to $9.0 billion from $8.8 billion a year ago. Earnings per share rose 10.0%, to $0.22 from $0.20. (All figures except share price and market cap in U.S. dollars. Per-share amounts adjusted for a 3-for-1 stock split on April 14, 2014).

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APPLE INC. $90 (Nasdaq symbol AAPL; Aggressive Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 6.0 billion; Market cap: $540.0 billion; Price-to-sales ratio: 3.2; Dividend yield: 2.1%; TSINetwork Rating: Average; www.apple.com) has agreed to a settle a lawsuit that accused the company and five publishers of working together to illegally increase e-book prices. The company did not say how much it would pay, but the lawsuit was seeking $840 million in damages. To put this in context, Apple held cash and investments of $150.6 billion, or $24.96 a share, as of March 29, 2014 (all per-share amounts adjusted for a 7-for-1 stock split in June 2014). Apple is a hold....

APPLE INC. $90 (Nasdaq symbol AAPL; Aggressive Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 6.0 billion; Market cap: $540.0 billion; Price-to-sales ratio: 3.2; Dividend yield: 2.1%; TSINetwork Rating: Average; www.apple.com) has agreed to a settle a lawsuit that accused the company and five publishers of working together to illegally increase e-book prices.

The company did not say how much it would pay, but the lawsuit was seeking $840 million in damages. To put this in context, Apple held cash and investments of $150.6 billion, or $24.96 a share, as of March 29, 2014 (all per-share amounts adjusted for a 7-for-1 stock split in June 2014).

Apple is a hold.

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CANADIAN NATIONAL RAILWAY CO. $64 (Toronto symbol CNR; Conservative Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 824.5 million; Market cap: $52.8 billion; Price-to-sales ratio: 5.0; Dividend yield: 1.6%; TSINetwork Rating: Above Average; www.cn.ca) operates Canada’s largest railway. Its 32,350-kilometre network stretches across the country and through the U.S. Midwest to the Gulf of Mexico.

Thanks to strong shipping volumes in the wake of the recession, CN’s revenue rose 43.5%, from $7.4 billion in 2009 to $10.6 billion in 2013.

Earnings jumped 68.4%, from $1.5 billion to $2.6 billion; while per-share earnings rose 88.9%, from $1.62 to $3.06, on fewer shares outstanding (all per-share amounts adjusted for a 2-for-1 stock split in November 2013).

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CANADIAN NATIONAL RAILWAY CO. (Toronto symbol CNR; www.cn.ca) operates Canada’s largest railway. Its 32,350-kilometre network stretches across the country and through the U.S. Midwest to the Gulf of Mexico. Thanks to strong shipping volumes in the wake of the recession, CN’s revenue rose 43.5%, from $7.4 billion in 2009 to $10.6 billion in 2013....

CANADIAN NATIONAL RAILWAY CO. $64 (Toronto symbol CNR; Conservative Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 824.5 million; Market cap: $52.8 billion; Price-to-sales ratio: 5.0; Dividend yield: 1.6%; TSINetwork Rating: Above Average; www.cn.ca) operates Canada’s largest railway....

PLEASE NOTE: Our next Hotline will go out on Friday, April 25, 2014. POTASH CORP. OF SASKATCHEWAN, $38.45, Toronto symbol POT, rose 5% this week on speculation that BHP Billiton (New York symbol BHP) may launch a second takeover offer for the company. (BHP is a recommendation of Wall Street Stock Forecaster, our newsletter that focuses on U.S. stocks.) In 2010, BHP offered to buy Potash Corp. for $43.33 U.S. a share (adjusted for a 3-for-1 stock split in February 2011). However, Ottawa ultimately blocked the takeover, as it did not provide a “net benefit” to Canada under the Investment Canada Act....