3 Things to Watch on the TSX Index on Thursday

Tensions between Iran and the U.S. are ratcheting up. Here in Canada, investors should look to Hudson’s Bay Co. (TSX:HBC) and two other TSX companies on Thursday.    

As the tensions between Iran and the U.S. heat up, markets around the world will be on edge on Thursday.

With the Trans Mountain pipeline expansion getting the green light, there’s no shortage of news stories to follow today. Here are three that should catch the attention of investors.

Hudson’s Bay CEO wins shareholder vote

The controversial pay package of Hudson’s Bay (TSX:HBC) CEO Helena Foulkes won shareholder approval Wednesday, albeit with serious protest from minority shareholders.

If you recall, the hotshot executive, who’s been in the top job for 16 months and made a lot of significant changes at the department store conglomerate, is set to receive a $29.4 million compensation plan from the company in 2019.

A total of 26.5% voted against the plan, but it wasn’t enough to reverse Foulkes’ pay package. With the $9.45 a share take-private deal on the table, should Executive Chairman Richard Baker’s deal win the day, Foulkes would receive a sizeable financial payment for change of control.

Activist investor Land & Buildings continues to argue for a higher bid from either Baker’s group of investors or a second, outside party.  It remains a story to watch in the days and weeks ahead.

Shopify to build fulfillment network

Not only does Shopify (TSX:SHOP)(NYSE:SHOP) help businesses of all sizes operate their e-commerce, but now it appears it wants to help them ship their products, putting them in direct competition with Amazon.

Shopify plans to spend $1 billion to launch a network of fulfillment warehouses in the U.S. that will enable its customers to provide two-day shipping to 99% of those living south of the border.

Operating some of the warehouses themselves while also working with third-party operators, Shopify hopes to deliver a full retail solution for all retailers, not just those focused on e-commerce.

Look out, Amazon.

Acreage Holdings shareholders approve future deal

The tentative US$3.2 billion-deal for Canopy Growth (TSX:WEED)(TSX:CGC) to acquire New York-based Acreage Holdings once cannabis is legalized by the U.S. federal government received resounding support Wednesday from Acreage shareholders.

Although Marcato Capital, who owns 2.7% of Acreage stock, were opposed to the deal, 99% of shareholders voted in favour of the deal. Once completed, Acreage shareholders would own 12% of Canopy Growth.

In the meantime, Acreage will continue to build out its operations in the U.S., providing Canopy Growth time to prepare for its entry into the giant market.  

 

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.

Fool contributor Will Ashworth has no position in any stocks mentioned. John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. David Gardner owns shares of Amazon. Tom Gardner owns shares of Shopify. The Motley Fool owns shares of Amazon and Shopify. Shopify is a recommendation of Stock Advisor Canada. John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. David Gardner owns shares of Amazon. Tom Gardner owns shares of Shopify. The Motley Fool owns shares of Amazon and Shopify.

More on Tech Stocks

Canada Day fireworks over two Adirondack chairs on the wooden dock in Ontario, Canada
Tech Stocks

Why This Tech Stock Could Be the Next Shopify

This offshoot of Constellation Software is becoming a powerhouse all on its own.

Read more »

chip with the letters "AI" on it
Tech Stocks

1 AI Infrastructure Stock Down 60% That’s Too Good to Ignore

This AI infrastructure stock is trading at a significant discount, presenting a solid buying opportunity given its strong growth prospects.

Read more »

Data center servers IT workers
Tech Stocks

This 1 Stock Could be the Future of Crypto and AI in Canada

Hut stock is a more diversified way to get into not just Bitcoin, but AI! Here's why.

Read more »

Person uses a tablet in a blurred warehouse as background
Tech Stocks

I’d Invest $7,000 in This Tech Stock Before the AI Boom Hits Canada

If you're wary about AI but want to get in on the action, here's the right tech stock for you.

Read more »

Concept of big data flow, analysis, and visualizing complex information for artificial intelligence
Tech Stocks

TFSA Millionaire Plan: Why This AI Stock Could Lead the Next Bull Market

AI is here to stay, but it's not all meme stocks. In fact, this one looks like a sure-fire winner.

Read more »

A person uses and AI chat bot
Tech Stocks

Buy the Dip: The 3 Best AI Stocks in Canada Right Now

AI stocks may be down right now, but don't count them out if you want long-term income.

Read more »

A microchip in a circuit board powers artificial intelligence.
Tech Stocks

2 Canadian AI Stocks That Could Turn $5,000 Into $50,000

The future of AI stocks is here right now. So, let's look at some top ways to invest.

Read more »

The letters AI glowing on a circuit board processor.
Tech Stocks

3 Stocks That Can Help You to Get Richer in 5 Years

If you want to get rich, focus on steady and sustainable growth for the long term. Some tech stocks can…

Read more »