Home Business Companies The World's stars and canines for the week

The World’s stars and canines for the week

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

L Brands (STAR)

In a world gone mad, sometimes you simply have to light some eucalyptus mint candles and put yourself a lavender vanilla bubble bath. Shareholders of L Brands enjoyed the soothing experience of watching their shares rise after the business said sales at Bath & Body Works– which sells these and other great items– are anticipated to skyrocket 10 per cent in the second quarter, even as a lot of its shops were temporarily shut due to the fact that of the pandemic. With L Brands likewise announcing US$400- million of cost cuts and 250 store closings at struggling Victoria’s Secret– which L Brands plans to divide off as a different company– investors are unexpectedly feeling far more unwinded.


Stuart Olson (CANINE)

Normally, when a business gets a takeover offer, its shares rise. For shareholders of Stuart Olson, its battered stock headed even lower. Bird Building revealed the acquisition of the Calgary-based construction services company for $965- million in money and shares. Offered what Stuart Olson’s CEO called the business’s “balance sheet and leverage metrics challenges,” almost all of the money will go to Stuart Olson’s lending institutions, with simply $4-million ending up in the pockets of shareholders. So much for a takeover premium.


Procter & Gamble (STAR)

Upside of staying home during the coronavirus pandemic: More time to clean your home, do your laundry and practise excellent dental hygiene. Shares of Procter & Gamble– whose brands include Tide laundry cleaning agent, Mr. Clean home cleaners and Crest tooth paste– jumped after the customer items huge posted net sales development of 4 per cent to US$177- billion for the 3 months to June 30, as revenues of US$ 2.8-billion or US$ 1.07 a share topped expectations. Investors are cleaning up.


Eastman Kodak (STAR)

2 things you may not understand about Eastman Kodak: 1) The business still exists; 2) It’s about to enter the drug business. Shares of the company– which declared personal bankruptcy protection in 2012 and mostly left customer photography to focus on business digital imaging– soared after the Trump administration awarded Kodak a US$765- million loan to begin producing generic pharmaceutical components under the Defense Production Act. Why pick a failed video camera company to do the task rather of a generic drug maker? Great question. “We are puzzled by the Trump administration’s choice,” SVB Leerink experts said in a note.


Cameco (PET)

You say Cam-ee-co, I say Cam-e-co, let’s call the whole thing off. Some Cameco investors were calling it gives up after the uranium producer published a bigger-than-expected quarterly loss of $53- million, consisting of $37- million in expenses tied to the shutdown of operations and increased reliance on area uranium purchases throughout the coronavirus pandemic. Cameco said it has “the tools we need to handle the current unpredictable environment,” including $878- million in money and short-term possessions and a $1-billion untapped credit center. With the stock struggling for years, some investors are seemingly getting restless.


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