A humorous look at the companies that caught our eye, for better or worse, this week.
May 9, 2014 close: $39.32 (U.S.)
down $10.33 or 20.8% over week
Whole Foods shareholders are a Whole lot poorer after the organic grocer’s disappointing second-quarter results. Hammered by increasing competition from supermarkets jumping on the natural foods bandwagon, the retailer posted flat earnings and chopped its full-year guidance, sending the stock into the compost bin. Investors are trying to save money by growing their own organic, non-GMO, fair trade vegetables.
May 9, 2014 close: $32.96
down $2.51 or 7.1% over week
Whether you need a backhoe loader, an industrial generator or just a hard hat to complete your Village People Halloween costume, Wajax sells and services all sorts of industrial equipment and components. Unfortunately, demand for its products isn’t what it used to be: Citing softness in the mining and oil and gas industries, the company posted lower revenue and earnings for the first quarter.
May 9, 2014 close: $19.26
down $7.27 or 27.4% over week
Avigilon sells a complete line of security cameras, video recorders and software to protect businesses from thieves and other ne’er-do-wells. Too bad its high-tech gadgets couldn’t save investors from big losses this week. Stunned by news that the CFO is leaving because of a “personal health issue” – the third executive departure in six months – investors drove down the shares even as first-quarter earnings topped expectations.
May 9, 2014 close: $32.05 (U.S.)
down $6.97 or 17.9% over week
Twitter investors must be feeling mighty bitter. First, the still-unprofitable microblogging service posted disappointing user growth last month, sending the shares into a free fall. Then this week, the stock plunged anew when the lockup period expired for hundreds of millions of shares held by insiders. The company had tried to reassure the market that big investors weren’t planning to sell, but nobody got the Tweet, apparently.
May 9, 2014 close: $59.13 (U.S.)
down $2.88 or 4.6% over week
Shares of Target plunged this week because:
a) CEO Gregg Steinhafel stepped down five months after a massive data breach;
b) Investors are increasingly worried about Target’s upcoming first-quarter results;
c) The company’s Canadian operations continue to struggle.
Answer: All of the above.
No wonder the stock’s got a Target on its back.