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stars and dogs

Intel (DOG)

INTC - Nasdaq

“Historic collapse.” “Much worse than feared.” “I don’t think I’ve ever seen anything quite like this before.” If you read between the lines, you get the sense analysts weren’t happy with Intel’s fourth-quarter results. Hurt by slumping demand for PCs as the pandemic sales boom faded, the chip maker posted a 32-per-cent drop in revenue for the fourth quarter, marking its fourth consecutive year-over-year decline. With Intel also reporting a net loss of US$644-million and forecasting first-quarter revenue several billion dollars below analysts’ estimates – potentially making it the weakest sales quarter since 2010 – investors probably have a few choice words to describe the company, too. Unfortunately, we can’t print them in a family newspaper.

WonderFi Technologies (DOG)


For a firm that bills itself as a “modern wealth generation company,” WonderFi Technologies has been doing a lot of wealth destruction. Hammered by falling crypto prices and a wave of bankruptcies in the industry, WonderFi’s shares have tumbled almost 75 per cent since the owner of the Bitbuy and Coinberry trading platforms was listed on the Toronto Stock Exchange in June. The shares got smacked around again this week after WonderFi announced a $5-million private placement of units consisting of one common share and one share purchase warrant. With their wealth shrinking, WonderFi investors aren’t feeling so wonderful.

Canadian National Railway (DOG)


Business quiz! Shares of Canadian National Railway fell after a) one of its trains derailed and spilled several million litres of maple syrup onto a highway near Edmonton, causing a massive traffic jam as cars became stuck in the gooey mess; b) Warren Buffett disclosed that he shorted CN Rail’s stock “because drones and driverless trucks will eventually put these guys out of business”; c) the company unveiled guidance for low single-digit growth in earnings per share in 2023, which was weaker than the high single-digit growth analysts were expecting. Answer: c.

3M (DOG)


With its vast array of products, 3M is considered a bellwether for the global economy. And if that’s true, we’re all in trouble. Joining the growing list of companies that are slashing jobs as the economy slows, the maker of Post-it notes, building materials, medical supplies and electronics components said it will cut 2,500 manufacturing positions globally. The company also projected that sales will decline as much as 6 per cent in 2023, hit by lower demand for disposable respiratory masks, unfavourable foreign currency trends, divestitures and 3M’s exit from Russia. It will take more than a roll of Scotch tape to fix the hole in investors’ portfolios.

American Express (STAR)


Don’t leave home without it. Better yet, don’t invest without it. Even as some economists are predicting a recession, credit card giant American Express is seeing few signs of a spending slowdown. The shares surged after AmEx – whose customers tend to be relatively affluent – posted a 12-per-cent increase in total network volumes during the fourth quarter, as cardholders splurged on travel, entertainment and holiday gifts. The company also forecast 2023 net revenue growth of as much as 17 per cent and projected earnings per share that topped analysts’ estimates, sending the stock to its highest in more than eight months. Investors are maxing out their Platinum cards to buy more shares.

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