A humorous look at the companies that caught our eye, for better or worse, this week.
Brookfield Infrastructure Partners
Feb. 6, 2015 close: $56.10
up $2.55 or 4.8% over week
Which of the following cash-generating assets does Brookfield Infrastructure NOT own:
b) toll highways and railways;
d) coin-operated mechanical pony rides in shopping malls.
The shares went for a thrilling ride of their own after the company reported higher fourth-quarter cash flow and raised its distribution by a bigger-than-expected 10 per cent.
Feb. 6, 2015 settle: $51.69 (U.S.)/barrel
up $3.45 or 7.1% over week
Crude oil is falling? That’s so last month. With major energy producers slashing capital spending and pulling a record number of rigs out of service after crude’s recent belly-flop, the price of oil rebounded for a second week, helped by violence roiling Libya and short-covering by bearish traders. One thing is for sure: Oil has bottomed – unless it hasn’t.
Feb. 6, 2015 close: $48.01
up $10.48 or 27.9% over week
There once was a business called Twitter
Whose shareholders used to feel bitter
But when fourth-quarter profit
Took off like a rocket
The stock price regained its lost glitter.
iShares S&P/TSX Financials ETF
Feb. 6, 2015 close: $30.82
up $1.66 or 5.7% over week
Things you should never bet against:
1) The New England Patriots;
2) The guy on the corner inviting you to a game of three-card Monte;
3) Canadian banks.
After plunging on fears that lower oil prices will push Canada into recession, bank stocks made a comeback when investors decided that the selling had been overdone. Bank shareholders, you’re richer than you think – or at least richer than you were last week.
Feb. 6, 2015 close: $77.87 (U.S.)
down $8.06 or 9.4% over week
Expedia’s travel websites make it easy to plan a vacation. But after the stock’s sharp selloff this week, shareholders might not be going anywhere for a while. The owner of Expedia, Hotels.com, Hotwire and Travelocity posted solid growth in bookings but its earnings fell, hit by a strong U.S. dollar and a drop in revenue per room night. Oh well. The kids would have just stayed in the hotel room playing on their iPads, anyway.