Bird Construction Inc. (STAR)
BDT - TSX
It’s a bird, it’s a plane, it’s Bird Construction Inc.’s soaring stock price! Citing its record order backlog and expectations for “significant further improvements in earnings and cash flow in 2024 over 2023,″ the Mississauga-based industrial and infrastructure construction company announced a 30.2-per-cent increase in its dividend after the board’s approval of its 2024 annual business plan. Even after the dividend hike, Bird expects to retain more than two-thirds of its net income to reinvest in growing the business. With Bird’s stock leaping about 75 per cent this year, investors are feeling like superheroes.
Scholastic Corp. (DOG)
SCHL - Nasdaq
See Scholastic’s stock. See Scholastic’s stock fall. See investors run. Shares of the children’s book publisher and distributor tumbled after it reported a year-over-year decline of 4 per cent in its fiscal second-quarter sales, pulled down by a 44-per-cent drop in school book club revenues as the company reduced promotional spending in that division. With Scholastic also cutting its full-year guidance for adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) and revenue – which it now expects to be flat or slightly down, compared with expected growth of 3 per cent to 5 per cent previously – investors are turning the page on the company. The end.
Waste Connections Inc. (STAR)
WCN - TSX
This stock is a load of rubbish – and investors are loving it. Shares of Waste Connections Inc. surged to a record high after the Toronto-based company, which provides garbage collection and disposal services in six provinces and 44 U.S. states, announced the $1.075-billion acquisition of 30 energy waste treatment and disposal facilities in Western Canada from Secure Energy Services Inc. Apparently, the cash for trash deal was an offer the company couldn’t, er, refuse.
Empire Co. Ltd. (DOG)
EMP.A - TSX
The company that owns Sobeys, Safeway and FreshCo is refusing to accept “ridiculous” and “unfair” price increases from some of its major food and beverage suppliers. “If that results in a few holes in our shelves, we believe that Canadians will more than understand,” said CEO Michael Medline on a conference call with analysts. Unfortunately, Empire investors also developed a few holes in their portfolios after the grocer’s fiscal second-quarter sales and adjusted earnings per share both missed analysts’ estimates, sending the stock to a double-digit loss. Sale on Empire shares in Aisle 6!
Oracle Corp. (DOG)
ORCL - NYSE
There once was a business named Oracle
Whose high stock price seemed quite supportable
But when revenue missed
Sellers couldn’t resist
Now investors are feeling just horrible.
John Heinzl