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.    

| More on:
A stock price graph showing growth over time

Image source: Getty Images.

You’re reading a free article with opinions that may differ from The Motley Fool’s premium investing services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn more

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

analyze data
Tech Stocks

Fantastically Cheap TSX Tech Stocks

Investors should benefit from buying cheap tech stocks that are growing their profits in this market correction.

Read more »

Wireless technology
Tech Stocks

2 Quality Growth Stocks Breathe Life Into the Tech Sector

The battered technology sector has been advancing lately thanks to two quality growth stocks with pricing powers.

Read more »

clock time
Tech Stocks

Now’s the Time to Load Up the TFSA With These 2 Top TSX Stocks

Here are two top TSX stocks that long-term growth investors may not want to give up on, especially at these…

Read more »

shopping online, e-commerce
Tech Stocks

Shopify (TSX:SHOP) Stock Recovers 30% From its 3-Year Lows: Should You Buy?

Shopify stock: Should you buy the dip or wait for more weakness?

Read more »

Businessman holding tablet and showing a growing virtual hologram of statistics, graph and chart with arrow up on dark background. Stock market. Business growth, planning and strategy concept
Tech Stocks

What Market Correction? 2 High-Growth Tech Stocks That Are on the Rise

I don’t think it will be long before these two Canadian tech stocks are back to delivering market-crushing returns.

Read more »

grow dividends
Tech Stocks

Why Kinaxis (TSX:KXS) Stock Jumped 14% Last Week

Kinaxis Inc. (TSX:KXS) stock popped over the past week after adding yet another big company to its impressive stable.

Read more »

potted green plant grows up in arrow shape
Tech Stocks

TFSA Investors: Double Your Investments With These 3 Top Growth Stocks

Despite the volatility, I am bullish on these three stocks, given their solid growth potential.

Read more »

Arrow descending on a graph
Tech Stocks

2 Industries That Saw the Worst Decline Last Month

The TSX has been declining at a sharp angle since the beginning of June. And two industries (crypto and cannabis)…

Read more »