GetGo's sale to Canadian-based convenience store company approved by Federal Trade Commission
Giant Eagle's sale of its GetGo Café + Market sites to a Canadian-based convenience store company was approved by the Federal Trade Commission.
The $1.57 billion acquisition by Alimentation Couche-Tard, which operates Circle K gas stations, would give the company control of Giant Eagle's 270 GetGo locations across Pennsylvania, Ohio, West Virginia, Maryland and Indiana.
But the FTC said Couche-Tard must first get rid of 35 gas stations it already owns to protect people in our area from higher gas prices.
Couche-Tard already operates more than 7,000 stores nationwide, which is why the FTC said the company needs to divest 35 gas stations to Majors Management, so there is no conflict of interest.
The FTC did not want this acquisition to lead to high gas prices because right now Couche-Tard's gas stations closely compete with the GetGos in Pennsylvania, Ohio and Indiana. Couche-Tard will get 20 days after the acquisition to drop those 35 stores.
Right now, the public can give their opinions on the sale for the next 30 days. After that, the FTV will read all the comments and make a final decision.
Following the final sale, Giant Eagle said they have agreed to partner with Couche-Tard to continue the popular myPerks loyalty program across Giant Eagle and GetGo locations. They also plan to explore "opportunities to expand the program."
And now, Giant Eagle says it can forget about gas and focus on lower prices in their grocery stores and pharmacies, opening new store locations and remodeling old ones.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
40 minutes ago
- Yahoo
Here's What to Expect From PNC Financial Services' Next Earnings Report
Pittsburgh, Pennsylvania-based The PNC Financial Services Group, Inc. (PNC) operates as a diversified financial services company in the United States. With a market cap of $72.2 billion, the company operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group. The financial company is set to unveil its second-quarter results before the markets open on Wednesday, July 16. Ahead of the event, analysts expect PNC to report a non-GAAP earnings of $3.58 per share, up 8.5% from the profit of $3.30 per share reported in the year-ago quarter. Additionally, the company has surpassed the Street's bottom-line projections in each of the past four quarters. Ditch Big Tech and Buy These 3 Popular Stocks in 2025 Instead Dear Nvidia Stock Fans, Watch This Event Today Closely Can Broadcom Stock Hit $400 in 2025? Tired of missing midday reversals? The FREE Barchart Brief newsletter keeps you in the know. Sign up now! For the full fiscal 2025, its earnings are expected to come in at $15.14 per share, up 8.8% from $13.91 per share reported in the year-ago quarter. In fiscal 2026, its earnings are expected to rise 12.9% year-over-year to $17.09 per share. PNC stock has soared 22.2% over the past 52 weeks, underperforming the Financial Select Sector SPDR Fund's (XLF) 26.3% gains, but outperforming the S&P 500 Index's ($SPX) 12.1% uptick during the same time frame. On Apr. 15, PNC shares increased marginally following the release of its Q1 earnings. The company reported a revenue of $5.5 billion, up 6% year over year, and surpassed the Street's estimates. Moreover, its adjusted earnings came in at $3.51, surpassing the consensus estimates by 3.2%. The consensus opinion on PNC is moderately optimistic, with a 'Moderate Buy' rating overall. Of the 23 analysts covering the stock, opinions include 12 'Strong Buys,' one 'Moderate Buy,' eight 'Holds,' one 'Moderate Sell,' and one 'Strong Sell.' Its mean price target of $197.76 suggests a 6.6% upside potential from current price levels. On the date of publication, Kritika Sarmah did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 hours ago
- Yahoo
Progressive Earnings Preview: What to Expect
The Progressive Corporation (PGR), headquartered in Mayfield Village, Ohio, ranks among the largest auto insurers in the U.S., recognized for its innovative pricing strategies and direct-to-consumer model. With a market capitalization of $152.2 billion, the company maintains a strong foothold in both personal and commercial insurance segments, offering a broad suite of products ranging from auto, home, and renters insurance to specialty coverage for motorcycles, boats, and RVs. PGR is expected to announce its fiscal Q2 earnings results on Tuesday, July 15. Ahead of this event, analysts expect the insurance company to report a profit of $4.11 per share, up 55.1% from $2.65 per share in the year-ago quarter. The company has surpassed Wall Street's bottom-line estimates in three of the past four quarters, while missing the estimate in the most recent quarter. Ditch Big Tech and Buy These 3 Popular Stocks in 2025 Instead Dear Nvidia Stock Fans, Watch This Event Today Closely Can Broadcom Stock Hit $400 in 2025? Tired of missing midday reversals? The FREE Barchart Brief newsletter keeps you in the know. Sign up now! For fiscal 2025, analysts expect PGR to report an EPS of $16.52, up 17.6% year over year from $14.05 in fiscal 2024. However, in FY2026, the company's EPS is likely to fall 2.4% annually to $16.13. PGR shares have rallied 25.7% over the past 52 weeks, substantially outpacing both the S&P 500 Index's ($SPX) 12.1% rise but lagging behind the Financial Select Sector SPDR Fund's (XLF) 26.3% return over the same period. On June 9, shares of Progressive fell 4.7% before closing down 2.9%, despite no company-specific news. The decline was driven by broader concerns in the insurance sector, including signs of softening property insurance pricing and analyst downgrades. Additionally, investor concerns over potential property and auto damage from civil unrest in Los Angeles, where Progressive has a strong market presence, also weighed on the stock. Wall Street analysts are moderately optimistic about PGR's stock, with a "Moderate Buy" rating overall. Among 21 analysts covering the stock, 12 recommend "Strong Buy," two suggest "Moderate Buy," and seven indicate 'Hold.' The average analyst price target for PGR is $303.89, indicating a 16.2% potential upside from the current levels. On the date of publication, Kritika Sarmah did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on
Yahoo
3 hours ago
- Yahoo
Univest (UVSP) Could Be a Great Choice
Getting big returns from financial portfolios, whether through stocks, bonds, ETFs, other securities, or a combination of all, is an investor's dream. But when you're an income investor, your primary focus is generating consistent cash flow from each of your liquid investments. While cash flow can come from bond interest or interest from other types of investments, income investors hone in on dividends. A dividend is that coveted distribution of a company's earnings paid out to shareholders, and investors often view it by its dividend yield, a metric that measures the dividend as a percent of the current stock price. Many academic studies show that dividends account for significant portions of long-term returns, with dividend contributions exceeding one-third of total returns in many cases. Based in Souderton, Univest (UVSP) is in the Finance sector, and so far this year, shares have seen a price change of 4.37%. The holding company for Univest Bank and Trust Co. Is currently shelling out a dividend of $0.22 per share, with a dividend yield of 2.86%. This compares to the Banks - Northeast industry's yield of 2.77% and the S&P 500's yield of 1.6%. Taking a look at the company's dividend growth, its current annualized dividend of $0.88 is up 4.8% from last year. Over the last 5 years, Univest has increased its dividend 1 times on a year-over-year basis for an average annual increase of 1.42%. Any future dividend growth will depend on both earnings growth and the company's payout ratio; a payout ratio is the proportion of a firm's annual earnings per share that it pays out as a dividend. Univest's current payout ratio is 32%. This means it paid out 32% of its trailing 12-month EPS as dividend. Looking at this fiscal year, UVSP expects solid earnings growth. The Zacks Consensus Estimate for 2025 is $2.78 per share, with earnings expected to increase 11.20% from the year ago period. Investors like dividends for a variety of different reasons, from tax advantages and decreasing overall portfolio risk to considerably improving stock investing profits. However, not all companies offer a quarterly payout. Big, established firms that have more secure profits are often seen as the best dividend options, but it's fairly uncommon to see high-growth businesses or tech start-ups offer their stockholders a dividend. Income investors have to be mindful of the fact that high-yielding stocks tend to struggle during periods of rising interest rates. That said, they can take comfort from the fact that UVSP is not only an attractive dividend play, but is also a compelling investment opportunity with a Zacks Rank of #2 (Buy). Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Univest Corporation of Pennsylvania (UVSP) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
