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stars and dogs

Wingstop Inc. (DOG)

WING – Nasdaq

If people weren’t so quick to eat the wings of chickens, maybe the species would have learned to fly more than a few feet? Just a theory. Here’s something else that isn’t flying: Wingstop Inc.’s stock. Shares of the fast-food chain succumbed to gravity after it posted third-quarter earnings of 88 US cents a share, below analysts’ average estimate of 95 US cents. Even as sales surged 39 per cent to US$1.23-billion, driven by higher transactions and new restaurant openings, Wingstop’s bottom line was hurt by rising costs for beverages, packaging and bone-in chicken wings. With the stock trading near an eight-month low, investors can’t get the fowl taste out of their mouths.

Capital Power Corp. (STAR)

CPX – TSX

Electricity producer Capital Power Corp. just released some shockingly good results. Shares of the Edmonton-based company soared to a record high after it posted third-quarter adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) of $401-million, easily beating analysts’ average estimate of $373-million. Driven by Capital Power’s highest-ever quarterly generation and a strong performance from its U.S. facilities, which accounted for more than half of adjusted EBITDA for the first time, the results sent the stock to fresh highs and prompted analysts to hike their price targets on the shares. With the proliferation of AI data centres creating additional demand for electricity, investors are getting a charge out of this stock.

Boot Barn Holdings Inc. (DOG)

BOOT – NYSE

Now gather around for a sad little yarn

‘Bout a business that goes by the name of Boot Barn

Well, the stock took a hit

When its CEO quit

And investors launched into a chorus of “Darn!”

Reddit Inc. (STAR)

RDDT – NYSE

For years, small investors have been meeting on Reddit’s WallStreetBets forum to drive up prices of so-called “meme” stocks. Now, investors are making money on Reddit Inc. itself. Shares of the social-media platform rocketed higher after it reported third-quarter earnings of US$29.9-million – the company’s first quarterly profit – and revenue that surged 68 per cent to US$348.4-million, boosted by AI partnerships with Google and OpenAI and robust digital advertising spending. With Reddit, which went public in March, forecasting fourth-quarter revenue above analysts’ expectations, the YOLO crowd is all in.

Super Micro Computer Inc. (DOG)

SMCI – Nasdaq

True or false: When the auditor of a public company resigns, it’s usually a bullish sign because it allows the business to make a fresh start. Answer: false. Shares of Super Micro Computer tanked after the supplier of servers and storage systems disclosed that Ernst & Young had resigned two months after short seller Hindenburg Research alleged “accounting manipulation” at the company. “We are resigning due to information that has recently come to our attention which has led us to no longer be able to rely on management’s and the audit committee’s representations … and after concluding we can no longer provide the audit services in accordance with applicable law or professional obligations,” E&Y said. Sure you won’t reconsider?

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Tickers mentioned in this story

Study and track financial data on any traded entity: click to open the full quote page. Data updated as of 06/11/24 4:00pm EST.

SymbolName% changeLast
WING-Q
Wingstop Inc
+2.18%315.51
CPX-T
Capital Power Corp
-2.27%57.27
BOOT-N
Boot Barn Holdings Inc
-2.26%127.21
RDDT-N
Reddit Inc Cl A
-1.22%121.08
SMCI-Q
Super Micro Computer
-18.05%22.7

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