A humorous look at the companies that caught our eye, for better or worse, this week
Nov. 8 close: $137.95 (U.S.),
down $24.22 or 14.9% over week
If your car suddenly catches fire, the proper response is to:
a) continue driving;
b) speed up and hope that the wind puts out the flames;
c) pull over and break out the marshmallows.
Answer: none of the above.
The proper response is to call your broker and sell shares of the car maker, as many investors did after another Tesla Model S caught fire – the third in six weeks. Tesla’s flat fourth-quarter earnings outlook only fanned the flames.
Nov. 8 close: $6.84,
down $1.25 or 15.5% over week
Long before Rob Ford cornered the market on crack jokes, people used to refer to their favourite wireless device as a CrackBerry. Now, they refer to it as an iPhone. Or a Samsung Galaxy. With Fairfax Financial abandoning plans to take BlackBerry private – Fairfax is now part of a consortium injecting $1-billion (U.S.) in convertible debt financing – shares of the long-struggling smartphone maker are having their own public meltdown.
Indigo Books & Music
Nov. 8 close: $8.51,
down $2.49 or 22.6% over week
I’m in the middle of a great book right now – can’t wait to see how Harry the Dirty Dog gets out of this one. Too bad more people aren’t buying books: Indigo shares plummeted after its quarterly loss more than doubled to $10.1-million, hammered by falling book sales and higher costs. With Indigo suspending its dividend and trying to reposition itself as a “lifestyle” company selling more gifts and toys, some investors aren’t sticking around to see how the story ends.
Nov. 8 close: $28.34,
up $8.38 or 42% over week
These days, you can’t go anywhere without someone recording your every move. For instance, I secretly had a video surveillance system from Avigilon installed in your home and I can see that you are reading The Globe and Mail. The story you are reading says that shares of Avigilon surged after the maker of HD cameras and video software posted sharply higher revenue and earnings, lifted by booming global demand for surveillance equipment. Smile!
Nov. 8 close: $104.07,
up $40.28 or 63.1% over week
Any Paladin is a pal of mine – or at least a pal of investors, who have made a fortune on the drug maker’s stock over the years. And this week, they made even more money when the Montreal-based pharmaceutical maker – which markets dozens of drugs for pain, allergies, arthritis and other conditions – agreed to be acquired by U.S.-based Endo Health Solutions for about $2-billion. Just say yes to drug stocks.