Skip to main content
The Globe and Mail
Support Quality Journalism.
The Globe and Mail
First Access to Latest
Investment News
Collection of curated
e-books and guides
Inform your decisions via
Globe Investor Tools
Just$1.99
per week
for first 24 weeks

Enjoy unlimited digital access
Enjoy Unlimited Digital Access
Get full access to globeandmail.com
Just $1.99per week for the first 24weeks
Just $1.99per week for the first 24weeks
var select={root:".js-sub-pencil",control:".js-sub-pencil-control",open:"o-sub-pencil--open",closed:"o-sub-pencil--closed"},dom={},allowExpand=!0;function pencilInit(o){var e=arguments.length>1&&void 0!==arguments[1]&&arguments[1];select.root=o,dom.root=document.querySelector(select.root),dom.root&&(dom.control=document.querySelector(select.control),dom.control.addEventListener("click",onToggleClicked),setPanelState(e),window.addEventListener("scroll",onWindowScroll),dom.root.removeAttribute("hidden"))}function isPanelOpen(){return dom.root.classList.contains(select.open)}function setPanelState(o){dom.root.classList[o?"add":"remove"](select.open),dom.root.classList[o?"remove":"add"](select.closed),dom.control.setAttribute("aria-expanded",o)}function onToggleClicked(){var l=!isPanelOpen();setPanelState(l)}function onWindowScroll(){window.requestAnimationFrame(function() {var l=isPanelOpen(),n=0===(document.body.scrollTop||document.documentElement.scrollTop);n||l||!allowExpand?n&&l&&(allowExpand=!0,setPanelState(!1)):(allowExpand=!1,setPanelState(!0))});}pencilInit(".js-sub-pencil",!1); // via darwin-bg var slideIndex = 0; carousel(); function carousel() { var i; var x = document.getElementsByClassName("subs_valueprop"); for (i = 0; i < x.length; i++) { x[i].style.display = "none"; } slideIndex++; if (slideIndex> x.length) { slideIndex = 1; } x[slideIndex - 1].style.display = "block"; setTimeout(carousel, 2500); } //

A humorous look at the companies that caught our eye, for better or worse, this week

Costco Wholesale (STAR)

Panic selling: What’s happening on the stock market. Panic buying: What’s happening down at your local Costco. Fearing that the coronavirus will render them housebound if they get ill or face quarantine, millions of shoppers emptied Costco’s shelves of hand sanitizer, disinfecting wipes, bottled water, canned goods and toilet paper. Costco’s same-store sales soared 12.1 per cent in February, the company said, attributing about one-third of the increase to coronavirus fears. With the lineups only getting longer in March, investors apparently think it’s time to load up on Costco’s stock.

COST- Nasdaq

Story continues below advertisement

S&P 500 (Star)

Everyone knows the stock market is volatile, but this is getting ridiculous. After plunging 11 per cent the previous week – its biggest weekly drop since the financial crisis – the S&P 500 surged 4.6 per cent on Monday, plunged 2.8 per cent on Tuesday, rebounded 4.2 per cent on Wednesday and skidded 3.4 per cent on Thursday. “In the index’s history dating back to 1927, we’ve never had a week of alternating gains and losses of more than 2 per cent from Monday through Thursday,” Bespoke Investment Group said. The good news is that, even after Friday’s 1.7-per-cent decline, the S&P 500 eked out a small gain for the week. Are we having fun yet?

SPX

Gilead Sciences (STAR)

The novel coronavirus may be bad for the global economy, but it’s been good for shareholders of Gilead Sciences. The company’s experimental antiviral drug, remdesivir, was originally developed as a treatment for Ebola. But after showing effectiveness against other coronaviruses in lab experiments – as well as in cases where remdesivir was provided on a “compassionate” basis to severely ill COVID-19 patients – the drug is now in formal clinical trials in China and the United States, with more countries to follow. When the results are known in April, Gilead’s stock price will tell you everything you need to know about whether the drug worked or not.

GILD - Nasdaq

Spin Master (DOG)

Investors’ heads must be spinning after all the bad news from Spin Master. In January, the toy maker warned that gross product sales would fall 1 per cent in 2019, down from a previous estimate of low single-digit percentage growth. In February, it announced the departure of two senior executives. And this week, the company posted a fourth-quarter net loss of US$17.2-million and said it expects 2020 gross product sales to fall “toward the higher end of the mid-single-digit range“ in part because of “supply chain and other disruptions” from COVID-19. Who knew toys could make people so unhappy?

TOY - TSX

InterRent REIT (STAR)

Think apartment rents are outrageous? Apartment real estate investment trusts aren’t exactly a bargain, either. Driven by high occupancy levels and a dearth of new supply, residential REIT unit prices have been surging as apartment owners spruce up their units and jack up prices for incoming tenants. Shares of InterRent continued their dizzying climb this week, lifted by strong fourth-quarter results. But with the units now trading at more than a 20-per-cent premium to the REIT’s net asset value, investors might want to think twice before signing a lease.

Story continues below advertisement

IIP.UN - TSX

Your Globe

Build your personal news feed

  1. Follow topics and authors relevant to your reading interests.
  2. Check your Following feed daily, and never miss an article. Access your Following feed from your account menu at the top right corner of every page.

Follow the author of this article:

Follow topics related to this article:

View more suggestions in Following Read more about following topics and authors
Report an error Editorial code of conduct
Tickers mentioned in this story
Due to technical reasons, we have temporarily removed commenting from our articles. We hope to have this fixed soon. Thank you for your patience. If you are looking to give feedback on our new site, please send it along to feedback@globeandmail.com. If you want to write a letter to the editor, please forward to letters@globeandmail.com.

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff.

We aim to create a safe and valuable space for discussion and debate. That means:

  • Treat others as you wish to be treated
  • Criticize ideas, not people
  • Stay on topic
  • Avoid the use of toxic and offensive language
  • Flag bad behaviour

If you do not see your comment posted immediately, it is being reviewed by the moderation team and may appear shortly, generally within an hour.

We aim to have all comments reviewed in a timely manner.

Comments that violate our community guidelines will not be posted.

UPDATED: Read our community guidelines here

Discussion loading ...

To view this site properly, enable cookies in your browser. Read our privacy policy to learn more.
How to enable cookies