A humorous look at the companies that caught our eye, for better or worse, this week
Imagine a world without food. People would be eating each other left, right and centre. Fortunately, we don’t have to resort to cannibalism thanks to Nutrien, whose fertilizer products help farmers produce plentiful harvests. Shares of the company – formed by the 2018 merger of Agrium and Potash Corp. of Saskatchewan – surged after it posted record second-quarter earnings and hiked its full-year outlook, citing high crop prices supported by strong global demand and lower-than-expected supply. With the stock hitting a new high, investors are eating very well indeed.
The RealReal (DOG)
RealReal investors must be RealReal upset. Shares of the luxury consignment company – which operates a website and retail stores where consumers can buy and sell used designer clothing, handbags and other items – tumbled after it posted second-quarter results below expectations. Even as the value of goods sold through RealReal jumped 91 per cent, the company’s loss widened to US$70.7-million, or 78 US cents a share, amid rising costs for marketing, technology and other expenses. With the stock down more than 50 per cent from its February high, RealReal investors are losing a lot of MoneyMoney.
Northland Power (DOG)
Business quiz! Shares of Northland Power fell after the renewable power producer a) temporarily shut down all of its wind turbines in the North Sea to allow safe passage of a large flock of errant flamingos, b) wrote off the value of a solar farm in Ontario after locals ruined the panels by cooking bacon and eggs on them during a recent heat wave or c) announced second-quarter results below analysts’ estimates, reflecting weak wind resources at its offshore facilities in Europe. Answer: c.
Canada Goose Holdings (DOG)
Wearing a Canada Goose parka in 30-degree heat will make you sweat. Owning Canada Goose’s stock will make you sweat even more. Shareholders were perspiring heavily after the company announced fiscal first-quarter results that were ahead of expectations but left its full-year forecast unchanged, stoking worries that the fast-spreading Delta variant could lead to further restrictions in China and other markets. With Canada Goose’s shares suffering a double-digit drop after the earnings report, investors are getting the flock out.
Mav Beauty Brands (DOG)
Everyone has a bad hair day occasionally. Mav Beauty Brands just had a bad hair week. Shares of the company – which sells hair and skin care products under the Marc Anthony, Renpure and other brand names – plunged after Mav posted weaker-than-expected results for the second quarter, including an 81.9-per-cent drop in adjusted earnings. The results, which came just two days after the company abruptly replaced its president and chief executive officer, had investors pulling their hair out.
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