A humorous look at the companies that caught our eye, for better or worse, this week
Oct. 4 close: $20.86 (U.S.),
down $3.31 or 13.7% over week
Want to hear something really nuts? Shares of Diamond Foods – which sells packaged walnuts, pecans, almonds and other snacks – plunged after the company posted a fourth-quarter loss and gave a disappointing outlook, citing costs to relaunch its Emerald Nuts brand and a lower walnut supply. With an accounting scandal still fresh in people’s memories, investors have a bad taste in their mouths.
Oct. 4 close: $180.98 (U.S.),
down $9.92 or 5.2% over week
Tesla’s shares have been on fire. Unfortunately, so was one of its cars. A YouTube video showing a $70,000 electric Model S engulfed in flames – apparently after hitting metal debris on a highway in Seattle – put the brakes on the stock amid worries about the safety of the car’s lithium-ion battery, where the fire started. Nothing to see here, Tesla insists. Move along.
Oct. 4 close: $27.81,
down $3.11 or 10.1% over week
Imax’s newest film is called Gravity. But if you want to see gravity in action, check out Imax’s stock price. The shares plunged back to earth after analysts raised concerns about the big-screen movie company’s outlook, citing disappointing box-office results for films such as Elysium, Pacific Rim and Riddick and a weak slate of future releases. Even if Gravity is a hit, there are apparently too many other forces weighing on the stock.
Airboss of America
Oct. 4 close: $7.20,
up 66¢ or 10.1% over week
Have you ever been driving down the road and thought to yourself, “You know, there are a lot of rubber, vibration-dampening parts on this car that contribute to a smooth, quiet ride”? No? Well, maybe you should have. Shares of Airboss surged after the maker of rubber compounds and products acquired Flexible Products, which supplies rubber components for the auto industry. Airboss investors are enjoying a smooth ride indeed.
Brookfield Office Properties
Oct. 4 close: $19.55,
up $2.26 or 13.1% over week
Depressing: Riding the elevator every day to the same soul-destroying cubicle in an office building.
Exciting: Investing in the owner of that office building.
Shares of Brookfield Office Properties climbed a few floors after Brookfield Property Partners, which already owns 51 per cent of the company, made a $5-billion (U.S.) offer for the remaining 49 per cent to create a real estate giant with office, retail, industrial and other assets. Going up!