A humorous look at the companies that caught our eye, for better or worse, this week.
Buffalo Wild Wings
June 27, 2014 close: $164.13 (U.S.)
up $7.21 or 4.6% over week
Not content to dominate football, baseball and basketball, the U.S. has now set its sights on the world’s most popular sport – soccer. And Buffalo Wild Wings shareholders couldn’t be more thrilled: With sales of wings and beer surging as the chain of sports bars attracts standing-room only crowds for the World Cup, the shares hit a record this week. Now that the U.S. soccer team has advanced to the knockout round, investors are ordering seconds of Buffalo Wild Wings’ stock.
June 27, 2014 close: $77.68 (U.S.)
up $2.58 or 3.4% over week
Personal finance quiz:
If you have only $200 to your name, you should use the money to:
a) buy groceries;
b) pay your utility bill;
c) purchase a new pair of $190 Nike Jordan Super Fly basketball shoes.
Judging by Nike’s fiscal fourth-quarter results, a lot of people are choosing c. The athletic shoe and apparel maker’s revenue surged 11 per cent to $7.43-billion (U.S.) for the period ended May 31 as profit beat expectations, making Nike’s shares a slam dunk for investors.
June 27, 2014 close: $34.81
up $4.57 or 15.1% over week
Boring: Working the night shift at a document storage warehouse.
Exciting: Investing in the company that owns the warehouse.
Shares of Iron Mountain – which provides records management, document shredding and other services to businesses – surged after the board approved a plan to convert the company to a real estate investment trust. With Iron Mountain poised to pay less corporate tax and hike its distribution to shareholders, the stock’s climbing a mountain of its own.
Bed Bath & Beyond
June 27, 2014 close: $57.45 (U.S.)
down $2.62 or 4.4% over week
Good thing Bed Bath & Beyond sells plenty of towels, because shareholders took a bath this week. Hurt by severe winter weather and an uncertain economy, the home-furnishings retailer said fiscal first-quarter earnings fell 7.6 per cent and projected second-quarter results came in well below analyst expectations. With the stock down about 29 per cent this year, shareholders are watching their money circle the drain.
June 27, 2014 close: $70.82
up $4.25 or 6.4% over week
Selling groceries is a tough business, what with Wal-Mart, Costco and Target all vying for a piece of the pie. But you won’t hear any complaints from shareholders of Empire: Even as the company announced the closing of 50 stores across its Sobeys, Safeway, Foodland and IGA banners, it posted fourth-quarter adjusted earnings that beat analyst expectations and hiked its dividend by 3.8 per cent - the 19th consecutive annual increase. After tumbling for much of the past year, Empire’s stock is striking back.
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