A humorous look at the companies that caught our eye, for better or worse, this week.
ENBRIDGE (STAR)
Business quiz! Shares of Enbridge surged after the company: a) announced that, to appease environmentalists, all future pipelines will deliver soft-serve ice cream instead of fossil fuels; b) received a contract to build an 8,800-kilometre pipeline directly atop the Great Wall of China; c) agreed to buy Houston-based Spectra Energy in a $37-billion deal that will create North America's largest energy infrastructure company. Answer: c.
ENB (TSX), $58.11 up $4.86 or 9.1% over week
TRACTOR SUPPLY (DOG)
"My dog died, my wife left me and my Tractor Supply shares done got stuck in the mud." Investors in the retail chain - which caters to farmers, ranchers and others who live in rural areas - were singing a sad tune after the company slashed full-year revenue and earnings forecasts, citing "economic uncertainty" that's causing customers to trim spending. With at least two brokerages downgrading the stock, this tractor is spinning its wheels.
TSCO (Nasdaq), $68.42 (U.S.) down $16.64 or 19.6% over week
TRANSAT AT (DOG)
Ladies and gentlemen, this is your Transat captain speaking. You may have noticed a few lunch trays flying across the cabin but it's nothing to worry about, folks. Just some normal turbulence after Transat's third-quarter adjusted operating income tumbled 64 per cent, reflecting sharply higher airline capacity on transatlantic routes and softer demand because of terrorism-related fears. Now settle in and enjoy the rest of the flight.
TRZ (TSX), $6.53 down 38¢ or 5.5% over week
NORTH WEST CO. (DOG)
Ironically, North West Co.'s stock didn't go north or west this week. It went south. Hit by a "consumer and competitive environment [that] was more challenging in the second quarter", the operator of food and general merchandise stores in Northern Canada, Alaska and other remote areas posted a 12.4-per-cent drop in net earnings excluding the impact of foreign exchange. Investors are feeling rather directionless at the moment.
NWC (TSX), $26.63 down $3.15 or 10.6% over week
PIER 1 IMPORTS (DOG)
You might say this stock took a long walk off a short Pier. Citing "ongoing store traffic challenges", home furnishings retailer Pier 1 Imports said net sales slumped by about 6.7 per cent in the second quarter and projected a loss of 5 to 6 cents a share when it reports full results on Sept. 28. With CEO Alex Smith having "mutually agreed" with the board that he will step down on Dec. 31, someone else will have to pull the stock out of the drink.
PIR (NYSE), $3.84 (U.S.), down 72¢ or 15.8% over week