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.    

A stock price graph showing growth over time

Image source: Getty Images.

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

man sitting in front of 3 screens programming
Tech Stocks

2 Growth Stocks to Hold for the Next 10 Years

Are you interested in growth stocks? Here are two picks to hold for the next 10 years!

Read more »

investment research
Tech Stocks

2 Hot Stocks to Buy and Hold Until You Retire

Are you looking for stocks to buy and hold until you retire? Here are two top picks!

Read more »

tsx today
Tech Stocks

TSX Today: What to Watch for in Stocks on Wednesday, September 27

An overnight bullish movement in oil and gas prices could lift TSX energy stocks at the open today.

Read more »

Dots over the earth connecting the world
Tech Stocks

1 Magnificent TSX Stock That Turned $10,000 Into $163,000

Constellation Software has crushed the broader markets in the past decade. Here's why I remain bullish on the TSX tech…

Read more »

Question marks in a pile
Tech Stocks

Up 57% in 2023, Is BlackBerry Stock Still a Buy?

Here are some key reasons I don’t find BB stock overvalued, despite its solid 57% year-to-date gains.

Read more »

crypto, chart, stocks
Tech Stocks

CGI Stock: Outperforming Among Falling Tech Stocks

CGI stock (TSX:GIB.A) has blasted past 52-week highs, on top of long-term growth that's remained stable throughout the decades.

Read more »

grow money, wealth build
Tech Stocks

How to Turn Your TFSA Into a Gold Mine Starting With $6,500

These two growth stocks can help super-charge your TFSA savings.

Read more »

man sitting in front of 3 screens programming
Tech Stocks

Shopify Stock or Microsoft Shares: Better Buy for the AI Revolution?

Shopify (TSX:SHOP) and Microsoft (NASDAQ:MSFT) are two of the most impressive growth stocks to watch, as tech slips further from…

Read more »