Wesdome Gold Mines (DOG)
WDO - T
In the old days, if you were hoping to strike it rich with gold, you took your pan to the river and crouched in an uncomfortable position for hours, only to come away empty-handed most of the time. Nowadays, you can experience the same disappointment from the comfort of your home computer. Shares of Wesdome Gold Mines fell to an almost three-year low after fourth-quarter production and 2023 guidance for its mines in Ontario and Quebec came in below expectations amid operational challenges. Well, at least investors avoided a nasty backache.
Bombardier (STAR)
BBD-B - T
Things that are kind of surprising: 1) George Santos hasn’t been kicked out of Congress yet; 2) Keith Richards is still alive; 3) Bombardier’s stock is actually rising. After delivering nothing but misery for years as the company sold assets and struggled with crippling debt, shares of the airplane maker have taken flight thanks to Bombardier’s restructuring efforts and strong demand for its business jets. With Bomber this week announcing preliminary full-year 2022 results that topped its own forecasts for revenue, cash flow and plane deliveries, investors are flying first class.
Alphabet (STAR)
GOOG - Q
“I have some difficult news to share. We’ve decided to reduce our work force by approximately 12,000 roles,” Sundar Pichai, the chief executive of Google and parent Alphabet, said in a memo to employees Friday. Yes, very difficult news indeed – unless you’re an Alphabet investor whose shares surged on the announcement and have gained about 11 per cent this year. With other tech giants including Microsoft, Amazon and Twitter also laying off thousands of employees amid rising interest rates, high inflation and weak online ad spending, there could be an awful lot of overqualified people applying at the local McDonald’s.
Neovasc (STAR)
NVCN - T
Neovasc shareholders must have felt their hearts racing with excitement this week. Shares of the cardiovascular device developer – whose main product, Neovasc Reducer, is designed to treat refractory angina – rose after the Vancouver-based company agreed to be acquired by Shockwave Medical of Santa Clara, Calif., for US$27.25 a share. With investors also poised to receive up to an additional US$12 a share depending on when the U.S. Food and Drug Administration approves Reducer, Neovasc’s ticker is in excellent health.
MTY Food Group (STAR)
MTY - T
“Please, sir, I want some more.” MTY Food Group investors were going back for seconds after the restaurant franchiser – which owns dozens of brands, including Country Style, Mr. Sub, Pizza Delight and Manchu Wok – served up a 19-per-cent dividend increase, citing the company’s rebounding performance since the onset of the pandemic. CEO Eric Lefebvre said the company is “also re-energized by the recent acquisitions of BBQ Holdings and Wetzel’s Pretzels, which will add additional available funds.” C’mon. You expect us to believe there was actually a guy named Wetzel who sold pretzels? Wait, there was? Never mind.
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John Heinzl