A humorous look at the companies that caught our eye, for better or worse, this week
Nov. 1 close: $52.30 (U.S.),
down $9.76 or 15.7% over week
All those flavoured beverages Toronto Mayor Rob Ford and his buddy purchased at the local Esso station? Imagine how much money they could have saved if they’d had a SodaStream machine at home. Not that it would have helped SodaStream’s stock: The maker of home carbonation machines suffered its biggest weekly drop in more than two years after quarterly sales missed estimates.
S&P/TSX Capped Financial ETF
Nov. 1 close: $28.27,
up 51 cents or 1.8% over week
Remember a few months ago when interest rates were surging, people thought the housing bubble was about to pop and you panicked and sold your bank stocks? Cheer up – you only missed a 15-per-cent gain or so. With the U.S. Fed keeping the stimulus taps wide open and bond yields well off their recent highs, Canadian banks – far from falling – have been hitting new records.
Nov. 1 close: $81.96 (U.S.),
up $9.33 or 12.8% over week
You might say Harman International’s quarterly results were music to the ears of investors. The maker of audio equipment under the Harman/Kardon, JBL, AKG and other brand names reported a 17-per-cent jump in sales, helped by rising demand from European auto makers for Harman’s integrated navigation, entertainment and communication systems. Money, it’s a hit.
Nov. 1 close: $18.27 (U.S.),
down $3.72 or 16.9% over week
Looks like someone’s mascara is running. Avon shareholders had reason to cry after seeing the company’s third-quarter results: The world’s biggest direct seller of cosmetics swung to a loss of $5.5-million as revenue skidded 7 per cent. Adding to Avon’s woes, the SEC offered to settle bribery charges for an undisclosed amount that the company said would “materially adversely” affect its financial condition. Someone get a tissue.
Nov. 1 close: 427.25 cents (U.S.) a bushel,
down 12.75 cents or 2.9% over week
Creamed corn, anyone? The grain that’s used to make everything from ethanol and livestock feed to glue has plummeted about 44 per cent on the Chicago Board of Trade this year, hammered by expectations for a record global harvest in the 2013-2014 season. Seems farmers went on a corn-planting binge when prices were high last year, and now they’re reaping what they sowed.