Nike Inc. (DOG)
Remember that kid in gym class whose rancid sneakers once caused the entire school to evacuate as a safety precaution? Nike’s stock is giving off an equally foul odour. Shares of the athletic footwear and apparel giant tumbled after sales in China sank 17 per cent, even as sales in North America rose 9 per cent and second-quarter earnings topped estimates. “Nike is in the middle innings of our comeback,” Elliott Hill, president and chief executive officer, said in a statement. For now, however, the company is stinking up the place.
iRobot Corp. (DOG)
iRobot’s Roomba vacuums have cleaned up plenty of messes over the years. But where the company really excels is cleaning out investors’ wallets. With its stock already down about 95 per cent from its 2021 high, the company filed for Chapter 11 bankruptcy protection, crushed by tariffs, waning consumer demand and lower-priced competitors. iRobot said it will be acquired by China’s Picea Robotics, its primary contract manufacturer and lender, and will continue operating. But now that the stock will be delisted, investors’ capital has been consigned to the dustbin.
Fermi Inc. (DOG)
Business quiz! Shares of Fermi, which is aiming to build a massive power grid and AI data-centre complex in Texas called Project Matador, tumbled after: a) ICE agents rounded up and deported most of the construction crew; b) engineers concluded that the single wind turbine that was supposed to power the entire facility “would not even be enough to keep employees’ phones charged”; c) an unnamed major prospective tenant cancelled a US$150-million funding agreement, raising doubts about Project Matador’s future. Answer: c.
NFI Group Inc. (STAR)
Bus drivers need to take a break after an extended time at the wheel. The same goes for CEOs of bus makers – especially when the ride has been as bumpy as NFI Group’s. Shares of the company rebounded after NFI – which has faced supply chain issues, bus recalls and a pandemic-induced sales downturn – named John Sapp as president and chief executive, succeeding Paul Soubry, who is retiring after 16 years with NFI. Separately, the company announced a settlement with a supplier of faulty batteries that led to a recall of about 700 buses, enabling NFI to recover 75 to 80 per cent of a $229-million warranty provision. Maybe the wheels on this bus are finally moving in the right direction.
Trump Media & Technology Group Corp. (STAR)
Trump Media & Technology Group Corp. has been a money pit since the parent of Truth Social went public in March, 2024, plunging more than 80 per cent from its debut price. Clearly, drastic action was necessary, but merging with a nuclear fusion company? Really? The stock posted a rare advance after Trump Media announced it will join forces with TAE Technologies, a privately held firm aiming to create clean energy from fusion – the same process used by the sun. But with the technology still years away from being commercially viable, Trump Media investors hoping the deal will make the stock great again could be waiting a long time.