RE:PKI bucking the trend last couple days???Sometimes there's no explanation for Mr. Market.... it just does what it does, which is why, with a decent company that's growing its revenues, sometimes it's best just to stay in for the longterm rather than trying to time the market or outbet the daily traders
Here's my take. Traders have been switching out of cyclicals like financials and industrials since the thinking now is that Trump may not be able to implement tax cuts and new infrastructure spending quite as fast as was once believed. The money is flowing back to those companies considered a bit "safer" with a secure dividend. Perhaps Parkland is in this group.
In addition, Janet Yellen was anticipated to say that there would be an additional 3 or more interest rate hikes this year, but she left the guidance at just two rate increases... leaving the traders to think that the economy might not be quite as robust as they otherwise thought... Correspondingly, interest rates on T-bills and such have fallen a bit.... leaving many to think that perhaps they shouldn't have moved out of "bond proxy" equiities quite so fast. With Parkland's dividend somewhere between 4% and 5%... this stock looks good from a yield standpoint.
Third, the price of oil is heading south. What this means for Parkland is cheaper fuel at the pumps, just as we head into summer driving season. Cheaper fuel perhaps indicates that more people will be driving and using more gas. With a bit of savings at the pump, more of these people might pop into the gas station convenience store and buy some high-margin drinks, pop or snacks... all of which falls to Parkland's bottom line.
Lastly, don't forget that Parkland is no longer just an Alberta company, as it has recently expanded with more locations in Ontario and Quebec. Thus, just because the price of oil falls, possibly hitting the Alberta economy, Parkland doesn't necessarily have to fall in sympathy, as it may have done before.
I noticed Parkland has been holding up well, and what I wrote above is simply some of my thoughts and opinions, but would be interested to here if anyone else has a different take.
GLTA