Aecon Group (DOG)
Chinese proverb: If you try to buy a foreign construction company, the government will hit you with a two-by-four. Shares of Canadian construction giant Aecon Group plunged after the federal government blocked the proposed $1.5-billion sale to state-owned China Communications Construction Co. Ltd., citing national security concerns. Aecon investors who were betting the deal would get the green light are nursing some nasty bruises.
ARE - TSX, $14.97, down $2.67 or 15.14% over week.
Nothing says I love you as a US$37,800 two-carat diamond engagement ring from Tiffany – except maybe the US$52,000 2.5-carat model. Someone is buying this stuff: Tiffany’s shares rocketed higher after the jeweller posted a 15-per-cent jump in global first-quarter sales and a 53-per-cent increase in net earnings, prompting the company to lift its full-year outlook and hike its dividend. Diamonds are a girl’s – and an investor’s – best friend.
TIF - NYSE, US$129.21, up US$25.86 or 25.02% over week.
Royal Bank of Canada (DOG)
Geez, spoiled much? Even as RBC reported an 11-per-cent increase in second-quarter earnings to $3.06-billion – or $2.10 a share on an adjusted basis, which topped estimates – whiny investors expressed their displeasure by selling the stock. Apparently, making enough money to put four crisp twenties into the pocket of every single Canadian just doesn’t cut it. Try to do better, RBC.
RY - TSX, $98.58, down $2.47 or 2.44% over week.
Foot Locker (STAR)
In the old days, people wore the same pair of shoes for walking, running, playing sports and just hanging out. And, not surprisingly, those shoes would smell. Nowadays, people buy a different pair of shoes for every activity, which is fine with Foot Locker: Thanks to strong sales of premium products from Nike and Adidas and a resurgence of brands such as Champion and Fila, the retailer posted better-than-expected earnings, giving its stock a sweet, fresh scent.
FL - NYSE, US$55.74, up US$12.30 or 28.31% over week.
Zoe’s Kitchen (DOG)
Apparently, investors can’t stand the heat, so they’re getting out of Zoe’s Kitchen. Shares of the fast-casual dining chain plunged to the lowest since its 2014 IPO after the Texas-based company posted a wider-than-expected loss for the first quarter and cut its full-year sales outlook, citing weak traffic, unfavourable weather and growing competition. With Zoe’s also planning to close older restaurants, investors are eating elsewhere.
ZOES - NYSE, US$8.65, down US$7.77 or 47.32% over week.