Nike Inc. (DOG)
NKE - NYSE
Nike Inc. and running have a long history. Lately, however, it’s investors who are doing most of the running. The stampede out of the stock continued this week after the athletic apparel and footwear giant posted a 10-per-cent decline in fiscal first-quarter revenue, as sluggish consumer spending, a lack of compelling designs and growing competition form the likes of Adidas and Hoka took a bite out of sales. Adding to the uncertainty, Nike withdrew its full-year guidance and postponed its November investor day as it prepares for new CEO Elliott Hill to take the helm later this month. With Nike’s stock trading for less than half of its record high reached in 2021, the swoosh is getting kicked in the tush.
Lockheed Martin Corp. (STAR)
LMT - NYSE
Looking for an investment that’s largely recession-proof, never goes out of style and is at the forefront of technological innovation? There’s only one downside: its products kill a lot of people. Driven by Russia’s invasion of Ukraine and escalating conflicts in the Middle East, shares of defence contractors such as Lockheed Martin Corp. – which makes missiles, aircraft, drones and other weapons – have been surging this year. With Israel launching a ground invasion against Hezbollah in Lebanon and warning it will retaliate against Iran for its missile attacks, the killing business has rarely been so profitable.
Signet Jewelers Ltd. (DOG)
SIG - NYSE
You’re a jewellery company looking for a CEO to boost your sluggish sales. Naturally, you want someone with expertise selling … pet food? Shares of Signet Jewelers Ltd. were lying down and playing dead after the owner of chains including Kay, Zales and Peoples announced that J.K. Symancyk, head of PetSmart Inc., is replacing the jewellery retailer’s retiring boss, Gina Drosos, who has been CEO for the past seven years. If the sinking stock price is any indication, investors think the company might be barking up the wrong tree.
Levi Strauss & Co. (DOG)
LEVI - NYSE
Business quiz! Shares of Levi Strauss & Co. fell after the apparel company: a) announced it is “going all-in on acid wash, which we believe will be the next big trend in denim fashion”; b) unveiled its new line of “Coach’s Jeans ‘n Plaid Jackets”, endorsed by Democratic vice-presidential candidate Tim Walz; c) posted third-quarter adjusted earnings that beat Wall Street’s estimates but trimmed its full-year revenue guidance and said it is exploring a potential sale of its Dockers business. Answer: c.
Doman Building Materials Group Ltd. (STAR)
DBM - TSX
You can make all sorts of things with pressure-treated wood, from decks to fences to treehouses that collapse with the slightest gust of wind because you used finishing nails instead of screws. Another thing you can make with wood is money. Just ask shareholders of Vancouver-based Doman Building Materials Group Ltd., whose stock jumped after it announced the US$255-million acquisition of pressure-treated wood producer CM Tucker Lumber Companies LLC of Pageland, S.C. , giving Doman a foothold in the eastern and southern United States. Wood you believe that stock chart?