A humorous look at the companies that caught our eye, for better or worse, this week
Alimentation Couche-Tard Inc. (STAR)
7-Eleven stores are open 24 hours a day, seven days a week, making it convenient for customers to shop whenever they please. 7-Eleven’s owner, on the other hand, didn’t exactly make it convenient for would-be suitor Alimentation Couche-Tard Inc. Japan’s Seven & i Holdings failed to offer any “sincere or constructive engagement,” Couche-Tard said in abandoning its pursuit of the convenience-store chain, triggering a relief rally in the Canadian company’s shares. With the nearly year-long takeover drama over and Couche-Tard now expected to pursue share buybacks instead, investors saw it as a convenient time to load up on the stock.
Brookfield Renewable Partners LP (STAR)
Dam: A barrier that slows the flow of water, creating a reservoir that can be used to generate hydro power. Hot damn!: What Brookfield Renewable Partners LP investors were saying after the hydro generator signed a major deal with Alphabet’s Google. Billed as “the world’s largest corporate clean power deal for hydroelectricity,” the framework agreement will give Google the opportunity to purchase up to 3,000 megawatts of clean power for its energy-intensive data centres, with the first contracts covering about US$3-billion of power and 670 MW of capacity. That’s one way to make a splash with investors.
Nvidia Corp. (STAR)
Another week, another string of record highs for Nvidia Corp. Shares of the world’s biggest AI chip maker surged after Nvidia said it will “soon” resume sales of its advanced H20 graphics processing units to China now that the U.S. government has eased export restrictions imposed in April. In exchange for the U.S. policy about-face, China has reportedly agreed to resume exports of rare earth metals crucial for U.S. military and other high-tech applications. Now that both superpowers have all the processing power and weapons they need, the world can go back to living in peace and harmony.
GrabAGun Digital Holdings Inc. (DOG)
Thanks to GrabAGun Digital Holdings Inc., firearms enthusiasts can order guns, ammunition, silencers and other accessories from the comfort of their own homes. Unfortunately for investors, shares of the online gun retailer were pumped full of lead on their first day of trading. Following GrabAGun’s merger with a special purpose acquisition company, Donald Trump Jr. – a board member and investor – rang the opening bell on the New York Stock Exchange on Wednesday, only to watch the stock crumble 39 per cent that day, and a further 23 per cent on Thursday. Just another in a long list of Trump business successes.
Northern Dynasty Minerals Ltd. (DOG)
Business quiz! Shares of Vancouver-based Northern Dynasty Minerals Ltd. plunged after: a) the PGA filed an injunction to block the company from turning the iconic Pebble Beach Golf Links into an open-pit gold mine; b) Warner Bros., which owns the rights to The Flintstones, sued to block Northern Dynasty from using the name “Pebble” in its operations, citing confusion with the character Pebbles; c) the company said it is turning to the courts in an effort to overturn the Biden administration’s veto of its proposed Pebble copper project in Alaska, having failed to reach a settlement with the U.S. Environmental Protection Agency. Answer: c.