Beyond Meat (DOG)
Beyond Meat doesn’t use animal protein in its plant-based burgers and sausages. But the company’s chief operating officer seems to enjoy the taste of flesh. Police charged Doug Ramsey with battery after he allegedly bit a man’s nose during a road-rage incident following a college-football game in Arkansas last weekend. With Beyond Meat suspending Mr. Ramsey indefinitely and the company’s stock price down about 75 per cent this year amid weak demand for plant-based meat products, investors are getting a bite taken out of their wallets.
Canadian dollar (DOG)
That thud you hear is the loonie flying straight into a window. Hurt by falling energy prices, a flight to safety of the U.S. dollar and the Fed’s three-quarter-point rate hike this week, the Canadian dollar has dropped more than three cents against its U.S. counterpart in just the past 10 days. With the loonie sinking to its lowest level in more than two years at a time when inflation is already hitting Canadians in the pocketbook, imported U.S. goods and travel to the United States are poised to get even more expensive. Hopefully, the bird is just stunned.
MOEX Russia Index (DOG)
There once was a fellow named Vladdy
Whose talk was increasingly batty
As he warned about nukes
And drew countless rebukes
Russia’s stock market got hammered quite badly
General Mills (STAR)
Kids may be cuckoo for Cocoa Puffs. But adults are just as cuckoo for Cocoa Puffs’ parent company, General Mills. Shares of the food maker – whose other brands include Cheerios, Cinnamon Toast Crunch, Betty Crocker National Corp. and Bisquick – rose after it posted a 4-per-cent increase in net sales and a 32-per-cent jump in earnings per share for its fiscal first quarter. Even as General Mills’ international sales fell, the company benefited from double-digit growth in North American retail sales and strong demand for its Blue Buffalo pet food. Hey, General Mills, any chance of a Cocoa Puffs flavour for dogs?
Things that are always falling: 1) Putin critics who stand near windows; 2) The Leafs in the first round of the playoffs; 3) Shopify’s stock price. Shares of the e-commerce software company extended their interminable skid, hit by the Fed’s three-quarter-point rate hike, fears of a possible recession and lingering worries about Shopify’s slowing growth and its recent replacement of two top executives. With the stock hitting its lowest closing price in nearly three years, shareholders wish the drop in SHOP would stop.
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