S&P/TSX Composite Index (STAR)
TXCX
Canadian hockey teams have had a rough go lately, with the Leafs and Jets ousted from the playoffs and either the Oilers or Canucks soon to join them on the golf course. But Canada has something else going for it: a surging stock market. Boosted by energy, mining and financial shares, the benchmark S&P/TSX Composite Index has gained more than 6 per cent this year. This week, the index touched a record high after weekly U.S. jobless claims rose more than expected, fuelling hopes that the Federal Reserve will cut interest rates. Investors shoot, they score!
Shopify Inc. (DOG)
SHOP - TSX
You might say SHOP just went plop. Shares of Shopify Inc. took a nasty tumble after the e-commerce software company, facing soft consumer spending and an uncertain economy, projected its slowest quarterly revenue growth in two years. Normally, investors would be delighted with estimated revenue growth in the high teens, but Shopify’s second-quarter guidance represented a marked slowdown from average growth of about 26 per cent over the past few quarters. With Shopify also forecasting higher operating expenses and analysts slashing their price targets on the stock, it’s no wonder SHOP took a big drop. Okay, I’ll stop.
Tripadvisor Inc. (DOG)
TRIP - Nasdaq
Online travel company Tripadvisor Inc. helps people plan their dream vacations. Sadly, the only holiday Tripadvisor investors can afford is a night at the Econo Lodge. The shares took their biggest one-day percentage tumble on record after the company, which in February formed a special committee to explore a potential sale, announced that “at this time, there is no transaction with a third party that is in the best interests of the company and its stockholders.” Well, at least they can enjoy the free breakfast.
Elanco Animal Health Inc. (STAR)
ELAN - NYSE
Taking your dog or cat to the vet is expensive. True, you could try to save money by teaching yourself veterinary procedures on YouTube, but there’s a better way to fight back: Invest in Elanco Animal Health Inc. Shares of the company, which makes vaccines, antibiotics and other drugs for pets and farm animals, rose after it topped Wall Street’s first-quarter sales and earnings expectations and boosted its full-year profit guidance. With the shares nearly doubling in the past year, investors can afford to hire a licensed professional to treat their precious pet.
Savers Value Village Inc. (DOG)
SVV - NYSE
Business quiz! Shares of thrift shop operator Savers Value Village Inc. tanked after: a) pest control trucks were spotted outside several of its stores in Canada and the United States, causing the hashtag “VVVermon” to trend on social media; b) customers organized a boycott on the grounds that “Value Village gets all of its stuff donated for free, so making us pay for it is totally unfair and unethical”; c) higher first-quarter sales in the U.S. were offset by a same-store sales decline of 2.6 per cent in Canada, and the company tweaked its EBITDA (earnings before interest, taxes, depreciation and amortization) guidance lower, prompting several analysts to cut their price targets on the shares. Answer: c.
John Heinzl