A humorous look at the companies that caught our eye, for better or worse, this week
1Life Healthcare (STAR)
Amazon is already a dominant force in e-commerce, cloud computing, movie and TV production, video streaming and grocery retailing. Heck, might as well try its hand at medicine. Shares of 1Life Healthcare soared after Amazon agreed to acquire the parent of One Medical, an operator of primary care practices and telemedicine services, for US$18 a share or about US$3.49-billion. Contrary to rumours, Amazon will not be offering Prime members free next-day delivery of a physician to their door. Darn.
After the drubbing Shopify’s stock has suffered, investors deserve a little good news for a change. Shares of the e-commerce software company rallied after it announced a partnership with YouTube that will allow merchants to sell products through the video platform, following similar agreements Shopify has struck with TikTok, Facebook and Instagram. Now, for the bad news: Even after this week’s gains, Shopify’s stock would have to rise about 350 per cent to get back to its split-adjusted record high of last November. Don’t hold your breath.
Ford Motor (STAR)
You’ve got the beer gut, the goatee and the MAGA hat. Now, all you need is a pickup truck to complete the look. May we suggest the 2023 F-150 Raptor R – Ford’s most powerful F-150 yet. Equipped with a supercharged V8 engine that cranks out 700 horsepower and 640 lb.-ft. of torque, it can handle everything from peaceful freedom convoys to extreme off-roading adventures – and all for just US$109,000. Even as Ford unveiled its new gas-guzzling truck this week, the company assured investors it has secured the battery supplies necessary to produce 600,000 electric vehicles annually by the end of 2023, sending the stock into the fast lane.
There once was a business named Boeing
For whom lots of plane orders were flowing
With more people flying
There is no denying
The stock price was steadily growing
You might say Snap investors just, well, snapped. Shares of the photo- and video-messaging app plunged by more than a third, extending a 10-month losing skid, after the company posted second-quarter results below estimates, including a net loss that nearly tripled to US$422.1-million or 26 US cents a share. Faced with a challenging economy, growing competition from TikTok and Apple’s privacy rules that limit Snap’s ability to target ads to users, the company declined to provide third-quarter financial guidance “given uncertainties related to the operating environment.” With analysts slashing their price targets on the shares, Snap’s stock just got a good slap.
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