E Bimbo 3

Back in the saddle with a slightly sore left arm, I am catching up on news missed Weds. The biggest is the cross-border bid from one of our Canadian companies for a French firm. The US stock indexes today are all in the black, which doesn't mean that all my US holdings (to say nothing of ADRs) are up. But enough of them are so I am feeling like going and spending some money on getting a functional website. I am negotiating with a techie recommended by a Mexican daily blog we exchange data with.

Here are notes about the winners today starting with one in the course of being impeached.

*Mexican drip-feed company Orbia Advance Corp. is still showing dead prices up hugely under its old ticker symbol of MXCHY--$3.49 bid, $999 ask which makes me look richer than I am in Mexico. According to Schwab.com which now owns my TD Ameritrade broker, they provide the correct price but I would like a confirmation from someone working with Schwab before I hop over. ORBIA in Mexican trading is up 1% today to MXN 47.48. Its stock is followed by the US and global analysts like BofA; Barclays; Citi; Credit Suisse; HSBC; JP Morgan; Morgan Stanley; and UBS—but not Schwab.

 

Business newspaper article

image source

Luckily there are real gains too:

Food

*Belated news. Quebec's Francophone Alimatation Couche-Tard, operator of gas stations and Circle K food stores is bidding to take over Carrefour, a French supermarket chain with global ambitions, notable in Brazil, at a price of euros 20/sh. CEEFY rose 13.4% Weds but is still only at 6x cash flow. The Financial Times today recalls other flopped combos like Walmart with Asda in Britain, from which Walmart is now exiting. Earlier UK Tesco's Fresh & Easy US venture flopped. It warns also about French protectionism which resulted in Danone being kept totally French. Paris is saying the same about ANCUF, despite its non-binding offer having been written in perfect FrenchCRRFY's ADR rose over 15% yesterday. It operates mostly in France but has Atacadao branches in Brazil, shops in Thailand, and China we used and plenty more. Citi warned there are not many synergies. We own ANCUF but I am chary about the deal. The Carrefour board is full of French top dog names like Arnault and reps of the verkers, normal in France. ANCUF fell 16% this week but only 1.4% aujourd'hui. There was rien on the share at my brokerage site yesterday, why I missed this.

1 2 3 4
View single page >> |
How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.