Alimentation Couche-Tard (B) (ATD.B.TO)

It just broke down a little bit through the 50 day moving average. Starting to look a little bit tired. Mac D is turning down. Looking neutral, nothing terrible. It is looking like it wants to find support at around $51, which is where he would Buy.

Made an acquisition of Statoil Fuel and Retail last year. You can sell a $56 Put for $2. You tell yourself you like the stock and you would like to buy it at $56 and somebody will actually give you $2 for that. This will bring your average cost to $54. If the stock doesn’t get to $56, you pocket the $2.

An amazing company. In a horrible business and you wonder how anybody makes money in that business. This is the largest in North America and they just made an acquisition in Norway and they seem to continue to deliver increased earnings per share. Valuation has gotten stretched even for the earnings growth they are delivering.

Well-run company. Has been very successful consolidating convenience store/gas station businesses. Not cheap. Fairly immune to tougher periods in the economy.

Likes this name a lot. Had an incredible run. Great Canadian story. Their European acquisition was a great one. There is a little bit if integration risk but management has the ability to successfully make it.

Appears to be a well-run company but has a rather skimpy dividend. If you buy this, you have to hold it for growth. Doesn’t think higher dividends are in the cards. Expect they will continue in their niche to expand.

(Callers statement: “He bet the farm.”) Consider taking some profits. The big challenge for them now is to get its euro zone company out of Staph (?) Oil in Europe.

Related to acquisition of Statoil Fuel and Retail. Investors don’t understand what they bought: 2300 service centers, 400 tanker trucks 12 storage tanks along the European coast, $1.7 billion in real estate, provider of airline fuel to 85 European airports. Management has the capability to get into that business. Running variety stores is not rocket science. They have the capability of turning this thing around.

Very clever North American company with their convenience stores mostly attached to gas stations. Great acquirer. Stat Oil deal in Norway is a fabulous kind of anchor for expanding in Europe.

(Market Call Minute.) Wait to see what happens with the big acquisition they’ve made in northern Europe.

Likes that this company can make very disciplined acquisitions and grow their convenience stores. Recently acquired Stad stores in Scandinavia which has brought an element of uncertainty to the company. This is the reason for the bit of selloff here. Prices they’re charging for tobacco are also hurting their same-store sales growth. Would look attractive in the mid to low $40’s.

Have executed well. Grown through acquisitions, mostly in North America. Made their 1^st foray into Europe recently. Bought well and partnered well with the Norwegians. Not an industry that he sees with a lot of low risks.

Chart shows a long-term upward trend from the middle of 2010. Recently there has been an accelerated move on a break above the consolidation pattern at around $43. As a rule of thumb, you can take the move that you had from early 2012 up to the $43 and look for as similar percentage move upwards to possibly $55 so it does have additional upside potential, but remember you also had a huge move already.

Management has done a very good job. He doesn't own, because they make too much of their money from tobacco and he doesn't like to make money in that business.

Brilliant company. Convenience stores in North America, mostly associated with gas stations. Just made a great leap into Europe by making a fabulous purchase of Stat Oil’s convenience stores. .06% dividend.