A humorous look at the companies that caught our eye, for better or worse, this week
Bad: Spending all of your waking hours playing violent video games.
Worse: Owning shares of video game retailer GameStop.
Hurt by weak demand for the new Wii U console and a drop in purchases of recently released games, the company said same-store sales fell 4.4 per cent for the nine weeks ended Dec. 29. Investors responded by shooting up GameStop’s head office.
Satellites have a variety of uses, from transmitting TV signals to spying on your enemies. Here’s something else they do: Make money for investors. Shares of MacDonald Dettwiler were launched into space after the company won a $706-million contract to build three satellites to monitor Canada’s land and oceans for military and environmental purposes. Hey look, a Russian submarine.
There once was a business called Sears
Whose stock had been falling for years
As folks sang “Deck the hall”
Sales and profits did fall
And investors got kicked in their rears
Why did the chicken cross the road? Because it was pumped full of antibiotics and couldn’t walk straight. Yum’s shares got run over after the KFC owner warned that fourth-quarter same-store sales in China will plunge 6 per cent – worse than the 4-per-cent drop it predicted previously. With Chinese regulators alleging that Yum sold chicken that exceeded permitted levels of antibiotics, customers are getting their fast-food fix elsewhere.
Boeing’s newest jet is called the Dreamliner, but it’s shaping up as a nightmare for investors. After a spate of scary incidents – including a battery fire, cracked cockpit window and oil leak on three different 787s this week – U.S. regulators said they would conduct a wide-ranging review of the plane’s design, manufacture and assembly. Looks like the stock will be spending some time in the hangar.