Topic: Growth Stocks

Stock Pickers Digest Hotline – Friday, August 16, 2013

Article Excerpt

AIMIA INC., $15.77, symbol AIM on Toronto, has finalized its deal for TD Bank to become the primary credit card issuer for Aeroplan, Aimia’s main loyalty program. TD is a recommendation of The Successful Investor, our newsletter that focuses on conservative Canadian investing. Aeroplan is Canada’s largest loyalty program, with over 4.6 million members who collect Aeroplan miles from participating companies. Members can exchange their miles for flights, car rentals, hotel rooms and merchandise. Under this new 10-year deal, which would begin January 1, 2014, TD will launch new credit cards under the Aeroplan Visa banner, including cards for frequent flyers and small businesses. TD and Aimia are also negotiating a new agreement with Canadian Imperial Bank of Commerce (also a recommendation of The Successful Investor), which has been Aimia’s banking partner in the Aeroplan program for the past 22 years. This agreement would let CIBC sell around half of its existing Aeroplan accounts to TD. That would cut the risk of these…