A humorous look at the companies that caught our eye, for better or worse, this week
Sept. 27 close: $73.64 (U.S.),
up $4.27 or 6.2% over week
With a complete line of athletic shoes, sweats, jackets and caps, Nike sells everything you need to look great while sitting on the couch and watching other people play sports on TV. At least the stock’s getting a vigorous workout: Fresh from being added to the Dow Jones industrial average, the shares sprinted ahead after earnings soared 33 per cent – leaving analyst estimates in the dust.
Sept. 27 close: $8.28,
down 80¢ or 8.8% over week
“… and down the hall here, past the Commodore VIC-20 and the PalmPilot, we come to the BlackBerry. In its heyday 100 years ago, long before all human thought was uploaded in real time to the global wireless data network that we access using our Wi-Fi enabled human organs, people actually carried these clunky BlackBerry thingys around in their hands! To use an expression popular at the time: LOL.”
Sept. 27 close: $32.88 (U.S.),
down $4.20 or 11.3% over week
Cruises leave you seasick? Carnival shareholders know the feeling. Following a series of mishaps – the most infamous being the deadly Costa Concordia disaster – the world’s biggest cruise operator posted a 30-per-cent drop in third-quarter profit and said bookings for the rest of 2013 and first half of 2014 are running behind prior year levels. Judging by the stock price, a lot of investors are going ashore.
Sept. 27 close: $9.05 (U.S.),
down $3.91 or 30.2% over week
2011: J.C. Penney spends about $900-million to buy back shares at nearly $37 apiece.
2013: J.C. Penney plans to raise about $900-million by selling shares at $9.65 apiece.
What’s wrong with this picture? Plenty. With sales tumbling 25 per cent last year, the chain’s turnaround efforts in disarray and the stock in free fall, it’s a mystery why anyone would invest a dime – or a nickel – in Penney.
Sept. 27 close: $3.62,
up 32¢ or 9.7% over week
Traditionally, owning airline stocks has been about as much fun as watching a bird get sucked into one of the engines. But Air Canada investors are flying high: The stock, already climbing thanks to strong August traffic, gained more altitude after the carrier refinanced more than $1-billion of debt, substantially lowering its interest costs. Investors are unbuckling their seat belts.