A humorous look at the companies that caught our eye, for better or worse, this week
No, that’s not a Brazilian soccer fan celebrating a national victory. It’s a shareholder in Score Media doing what comes naturally after the stock soared on reports that Rogers Communications would acquire the money-losing sports broadcaster. Do you believe in miracles? Score Media investors sure do.
Remember how you and your Grade 4 friends loved to put an ant under a magnifying glass and watch it squirm in the burning light? Now you know how the ant feels. After successfully harnessing the power of the sun to immolate most of its shareholders’ money earlier this year, First Solar heated up this week when it announced it was developing solar farms in India – you know, because they’ve been so profitable elsewhere.
What? HP’s in trouble? That can’t be. I love their steak sauce ... oh, that HP. Well, sure. The computer maker has stumbled from one disaster to another, culminating in this week’s announcement that it was taking an $8-billion writedown. Meg Whitman, the CEO du jour, says she has a recipe to put things right, but many shareholders are already feeling queasy. Not even a heap of steak sauce could make these numbers palatable.
The missus and I don’t shop at trendy clothiers like Urban Outfitters. (We prefer its lesser known rival, Suburban Slop.) But even unfashionistas like us were impressed by the company’s earnings report this week. Only months after being sued by native groups for selling Indian-themed underwear, then being lambasted by Irish-American groups for its St. Patrick’s Day gear, the garment flogger is striking a blow for an oppressed group: its shareholders.
Oh, you think it’s funny that a lacklustre hardware chain could be considered a national asset. But how can you build a country without nails, not to mention caulking compound and a bit of that special roofing goop? I say we stick together (preferably with a long-lasting hypoallergenic adhesive) or we all fail separately. Sadly for shareholders counting on big profits from a U.S. takeover bid, Rona store owners made much the same point this week.