Stella Jones (STAR)
SJ - TSX
I wouldn’t want to live in a world without utility poles. Live electrical wires would be strewn across the ground, electrocuting people every few minutes. Children and the elderly would constantly be tripping on cable and telephone lines, leading to even more visits to our already overcrowded emergency rooms. Thanks to Stella Jones, we don’t have to confront such nightmare scenarios. Shares of the company surged to a record high after the manufacturer of pressure-treated wood products posted a 13-per-cent increase in third-quarter sales, driven by strong demand for its utility poles and railway ties. The only live wire here is Stella Jones’ stock.
Duolingo (STAR)
DUOL - Nasdaq
“Donde esta la Taco Bell?” Oh, hey, just practising my conversational Spanish on Duolingo before I head off to Mexico. Judging by the company’s strong results, I’m not the only one who thinks it’s a great way to learn a new language. Shares of the digital education company – which also has apps that teach math and music – soared after it reported 5.8 million paid subscribers in the third quarter, up 60 per cent year-over-year, as revenue of US$137.6-million topped management’s guidance. With more customers switching to Duolingo’s paid subscription from its free, ad-supported tier, the stock is making mucho dinero for investors.
Canadian Tire (DOG)
CTC.A - TSX
Test your business knowledge! Shares of Canadian Tire fell after the retailer a) recalled millions of Chinese-made hockey pucks amid reports they shattered into tiny pieces whenever someone took a slapper; b) announced plans to close all its stores at 6 p.m. daily “to help us control our labour costs and cope with a severe shortage of workers in the retail industry”; c) laid off about 200 corporate employees and announced that retail sales fell 2 per cent in the third quarter, as inflation and high interest rates led to “softening consumer demand.” Answer: c.
Warner Bros. Discovery (DOG)
WBD - Nasdaq
After spending hours swiping through mindless videos on TikTok and YouTube, who has time to watch television? Nobody. Just ask Warner Bros. Discovery investors. Shares of the media conglomerate plunged after advertising revenue in its TV networks segment – which includes CNN, HBO, Discovery and HGTV – dropped 12 per cent year-over-year, leading to a wider-than-expected loss of US$417-million for the third quarter. Now, if you’ll excuse me, there’s a hilarious video of a dog riding a surfboard that I need to watch.
Sleep Number (DOG)
SNBR - Nasdaq
For Sleep Number investors, the nightmare never ends. Already down 40 per cent in the past year, shares of the bed and mattress maker dropped by nearly one-third after it posted a double-digit decline in revenue and swung to a loss of US$2.3-million, or 10 U.S. cents a share, in the third quarter. CEO Shelly Ibach said the “consumer demand trajectory changed abruptly midway through the quarter,” prompting the company to slash an additional US$50-million of costs and amend its credit agreement to provide greater financial flexibility. With Sleep Number now expecting a full-year loss of as much as 70 U.S. cents a share, the company is giving new meaning to the phrase “You snooze, you lose.”
John Heinzl