Stelco Holdings Inc. (STAR)
STLC - TSX
The Mountain: What Hamiltonians call the Niagara Escarpment that runs through their city. Mountain of cash: What shareholders of Hamiton-based Stelco Holdings Inc. made this week. Shares of the steelmaker leaped 74 per cent after the company agreed to be acquired by U.S.-based Cleveland-Cliffs Inc. for about $70 per share – $60 in cash and $10 in stock – or about $3.4-billion in total, including debt. With Stelco’s stock producing a compound annual return of 32 per cent since it went public in 2017, there’s a mountain of evidence that the company’s turnaround was a success.
Global Atomic Corp. (DOG)
GLO - TSX
When you play with uranium, you could end up with radiation poisoning. Just ask investors in Global Atomic Corp. Shares of the uranium miner sank after a U.S. development bank, citing “a need to answer and confirm additional questions,” postponed until August a presentation to its credit committee regarding financing for the Dasa uranium project in Niger. With the delay, Global Atomic said approval of the financing is not expected until October, but in the meantime the company “continues to review other financing options including joint ventures.” No wonder the stock is having a nuclear meltdown.
Corus Entertainment Inc. (DOG)
CJR.B - TSX
There once was a business named Corus
(Can you get to the point? Please don’t bore us)
Well, its stock price was reeling
And investors were feeling
Not the richest – no, sir – but the poorest
V.F. Corp. (STAR)
VFC - NYSE
Hey kids! Back-to-school season is coming, which means it’s time to load up on all your favourite brands from V.F. Corp, including Vans shoes, Timberland boots, Jansport backpacks, North Face jackets and Supreme streetwear. Oops. Scratch that last one off the list. With Supreme’s popularity waning, U.S.-based V.F. this week struck a deal to sell the urban apparel brand to Italian eyewear group EssilorLuxottica, maker of Ray-Ban and Oakley sunglasses, for US$1.5-billion in cash. Even though that’s about US$600-million less than V.F. paid for Supreme in 2020, the jump in V.F.’s stock price indicates investors were relieved to say sayonara to Supreme.
Domino’s Pizza Inc. (DOG)
DPZ - NYSE
You know when someone orders a pizza and you’re too slow to grab the last slice? Now you know how Domino’s Pizza Inc. investors feel. Shares of the world’s biggest pizza chain had risen more than 30 per cent this year, but virtually all of those gains disappeared this week after the company posted disappointing second-quarter results. Even as revenue rose about 7.1 per cent to nearly US$1.1 billion, it still narrowly missed analysts’ estimates. What’s more, Domino’s said it expects to fall 175 to 275 stores short of its goal to open a net 925 stores internationally in 2024, citing “challenges in both openings and closures being faced by Domino’s Pizza Enterprises,” one of the company’s master franchisees. Talk about a pie in the face.