A humorous look at the companies that caught our eye, for better or worse, this week.
July 4, 2014 close: $119.00
up $9.75 or 8.9% over week
Sure, juice is full of sugar and contributes to obesity and tooth decay. But shareholders of Lassonde can’t get enough of the stuff: The company, which produces juice under such brands as Allen’s, Oasis and Everfresh, agreed to buy a 90-per-cent stake in U.S. fruit juice maker Apple & Eve for $150-million (U.S.), giving Lassonde a stronger presence south of the border. You might say investors are making some juicy gains.
July 4, 2014 close: $67.28 (U.S.)
up $6.31 or 10.3% over week
Downside of owning a pet: big vet bills; ruined furniture; boarding expenses.
Upside of owning shares of PetSmart: More money to pay for all of the above.
The stock stood on its hind legs after PetSmart disclosed that Jana Partners had accumulated a 9.9-per-cent stake in the retailer. With the hedge fund looking at options for boosting shareholder value, including a possible sale, the stock might perform some new tricks before this is over.
Dow Jones industrial average
July 3, 2014 close: 17,068.26
up 216.42 points or 1.3% over week
Woohoo! Yippee! Happy days are here again!
Fuelled by better-than-expected U.S. employment growth in June, the Dow Jones industrial average pushed through 17,000 for the first time, triggering widespread euphoria – particularly among financial talking heads who get worked up whenever the Dow hits a number with a lot of zeroes in it.
July 4, 2014 close: 93.84¢ (U.S.)
up 0.04¢ or 0.04% over week
“Expert” currency predictions from January:
“The loonie will sink to 87 cents.”
“Canadian dollar seen sinking to 85 cents.”
“70-cent Canadian dollar is possible.”
Um, guess again. Lifted by higher oil prices and an improving economy, the Canadian dollar has been doing precisely the opposite of what many pundits predicted. Apparently, the Ouija board was broken that day.
July 3, 2014 close: $4.58 (U.S.)
down $1.49 or 24.5% over week
True or false: It is generally a good sign when the chief of your audit committee steps down.
The American depositary receipts of NQ Mobile, a provider of Internet security services, took their biggest one-day plunge since research firm Muddy Waters in October accused the company of overstating revenue. With PricewaterhouseCoopers expanding its review of NQ’s 2013 financial statements, investors are wondering what’s true and false.
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