Imagine a world without appliances. People would still be washing their clothes with rocks and storing vegetables in a root cellar. But at least Whirlpool Corp. investors wouldn’t have to suffer. Shares of the company – which makes kitchen and laundry appliances under the Whirlpool, Maytag, KitchenAid and other brand names – were put through the wringer after it beat third-quarter earnings expectations but lowered its full-year forecast. Whirlpool cited “a very challenging environment” marked by higher mortgage rates and lower consumer confidence, which have led to “more intensive” promotional activity. After falling for eight consecutive days, the stock is spending some time in the cellar.
Hey kids. I have some bad news: Santa is really upset with you. Apparently, he saw you taking an extra cookie, or maybe he heard you telling a lie to Mommy or Daddy. Anyway, you know what you did. And because you’ve been so bad, Santa has decided not to bring you as many presents this year – especially toys and games made by Hasbro Inc. Oh, sure, Hasbro will say its third-quarter revenue fell 10 per cent and the company slashed its full-year forecast because of “the tougher macro environment,” but we all know it’s because naughty boys and girls like you let Santa down. Please try to do better next year.
Aecon Group (DOG)
True or false? The great thing about investing in a construction company is that projects are almost always completed on time and under budget. Answer: false. Shares of construction and infrastructure development company Aecon Group Inc. sank after it reported third-quarter revenue and earnings below expectations, as operating losses from four large, fixed-price construction projects tripled to $91.1-million amid rising labour and materials costs and various disruptions. Owning this stock is about as much fun as living near Toronto’s long-delayed Eglinton Crosstown LRT. (Yup, that’s one of the troubled projects.)
Here’s a company that’s making great Strides. Shares of Stride Inc. soared to a record high after the online education company posted revenue growth of 12.9 per cent to US$480.2-million and swung to a profit in its fiscal first quarter, helped by surging enrolment in the fall term. Apparently, online learning was such a hit during the pandemic that more students are eager to experience the joys of social isolation and boredom that come with sitting in front of a screen at home all day.
Dear Coca-Cola Co.: I have an idea for a commercial that would be very timely. Picture young people from all over the world standing on a hilltop, Cokes in hand, singing, “I’d like to buy the world a Coke, and end the hos-til-it-y.” It wouldn’t just be a Coke commercial, but a metaphor for world peace. Let me know if you are interested. In the meantime, congrats on your strong third-quarter results and on raising your forecast for a second time this year, thanks to rising prices and resilient demand for your soft drinks, juices and bottled waters. Looking forward to hearing from you at your earliest convenience.