A humorous look at the companies that caught our eye, for better or worse, this week
Rona says a bid from U.S. giant Lowe’s is “not in the best interests” of the company. However, it was apparently in the best interests of investors who, in a remarkable display of prescience, were snapping up Rona shares even before the proposal was made public. In the three weeks leading up to the announcement, Rona shares jumped 11 per cent. Probably just a coincidence. Yeah, that’s it.
Sealed Air Corp.
Fun: Calling in sick so you can spend all day popping a piece of Bubble Wrap that you found in your neighbour’s garbage. Not fun: Investing in Bubble Wrap maker Sealed Air Corp. The company, which makes a range of packaging products, posted worse-than-expected results in the second quarter, hurt by slowing Chinese exports and the weak European economy. Investors’ portfolios are going pop.
Call a tow truck! Zipcar’s stock had been belching black smoke since it went public in April, 2011, and this week it suffered an almost complete mechanical breakdown. Hammered by weak results in the U.K. and an unsuccessful radio ad campaign, the car-sharing service brought in fewer new members than anticipated and announced disappointing quarterly results, prompting Zipcar to chop its full-year outlook. Shareholders are taking the bus.
There once was a business called Facebook
Whose stock many people had mistook
For a way to make money
But I’ll tell you what’s funny
It’s fallen so hard people can’t look
CafePress lets users upload their own designs to make custom T-shirts, mugs and other products. Lately, the “CafePress ruined my life” shirt has been especially popular with investors. The shares plunged to less than half of their March IPO price after the company issued third-quarter revenue and profit guidance well below Wall Street estimates, citing weaker-than-expected sales of political items.