Target Continues Canadian Expansion, Lululemon Shares Slide on Insider Deal, and 3 More Hot Stocks
Target Corp. (NYSE:TGT): Target has plans to open 20 new stores in the great nation of Canada this month, following its initial rollout of 48 locations earlier this year. Included are intentions to put a store way out in Saskatchewan, for the first time. The new stores will bring the total to 68 total locations, over half the anticipated 124 store goal by the end of the year.
Lululemon Athletica (NASDAQ:LULU): Shares are riding down slightly, after it was revealed that Chairman Dennis Wilson is looking to sell up to 3.4 million shares of the company. Traders are signaling that the insider sale, when combined with an ongoing CEO search, gives the appearance that “no one has a firm handle on the retailer’s rudder.”
Vivus (NASDAQ:VVUS): Shareholder advisory firms ISS and Glass Lewis recommend shareholders reject First Manhattan’s attempt to take control of the company, at least according to Vivus. However, ISS does recommend three of First Manhattan’s nominees, while Glass Lewis says it seems “unlikely that adding dissident nominees to the Company’s board would lead to a more favorable regulatory outcome” for Qsymia.
Smithfield Foods (NYSE:SFD): Shuanghui Group, the Chinese firm looking to purchase Smithfield, says that a veto by Missouri Governor Jay Nixon on foreign ownership of farmland in the state will not hinder the company’s attempts to purchase Smithfield. Methods to navigate around the ban exist according to Shuanghui executives, including a plan to lease the needed farmland.
Alaska Air Group (NYSE:ALK): Traffic has increased 7.5 percent in June, on a similar rise in capacity. The carrier’s load factor came in at 87.1 percent, with Alaska Airlines outperforming Horizon Air. On-time percentages fell since June of last year, coming in at 87.4 percent, down from 88.4 percent.