Canadian dollar (DOG)
Boycott the United States? With the Canadian dollar diving more than 5 US cents since the start of February, nobody is going to be travelling or shopping in the United States this summer anyway. Hit by U.S. tariffs on Canadian aluminum and steel, Donald Trump’s Twitter tirade against Justin Trudeau and the prospect of an all-out trade war, the already weak loonie found a special place as “the market’s most hated currency,” according to TD Securities.
Canadian dollar, 75.89 US cents, down 1.26 US cents or 1.6% over week
Canada Goose Holdings (STAR)
The loonie may be sinking, but the Goose is still flying high. Shares of Canada Goose Holdings soared to a fresh record after the maker of $1,000 parkas swung to a surprise fourth-quarter profit as revenue more than doubled. With the company recently announcing expansion plans for China and expecting annual revenue growth of at least 20 per cent over the next three years, investors are feeling all warm and cozy. The geese and coyotes that are killed to make the coats? No so much.
GOOS (TSX), $78.01, up $22.20 or 39.8% over week
Tailored Brands (DOG)
You might say shareholders of Tailored Brands lost their shirts. Their pants, too. The stock shed more than one-fifth of its value a day after the men’s clothing retailer - whose brands include Men’s Wearhouse, Jos. A. Bank and Moores - posted same-store sales growth of 2.1 per cent, missing estimates for a gain of 2.5 per cent. With profit margins also shrinking in the quarter, investors are dreaming that they showed up for work in their underwear.
TLRD (NYSE), US$25.71, down US$7.45 or 22.5% over week
21st Century Fox (STAR)
What media concentration? A day after a U.S. federal court approved AT&T Inc.’s US$85.4-billion acquisition of Time Warner Inc., cable and internet giant Comcast Corp. offered to buy the bulk of 21st Century Fox’s entertainment assets for US$65-billion in cash, topping Walt Disney Co.’s all-stock US$52.4-billion offer for Rupert Murdoch’s media empire. The way this is going, we could eventually end up with one big media company: 21st Century TimeWaltComGoogleFaceFlix.
FOX (Nasdaq), US$44.56, up US$5.01 or 12.7% over week
Etsy (STAR)
Multiple choice quiz! Which of the following items can you buy on crafts and gifts site Etsy.com? a) a Donald Trump Pooping Key Chain - The POOTUS; b) earrings that look like a severed human finger; c) a genuine taxidermy squirrel pointing a toy pistol at its own head. Answer: all of the above. Someone must be buying this stuff: Etsy’s shares surged to a record after the company raised its 2018 revenue growth guidance, helped by higher fees it plans to charge sellers on the site.
ETSY (Nasdaq), US$42.54, up US$9.29 or 27.9% over week.
John Heinzl