A humorous look at the companies that caught our eye, for better or worse, this week
New York Times Co. (STAR)
“Extra! Extra! Read all about it! Shares of New York Times Co. hit record high after second-quarter revenue jumps nearly 10 per cent and earnings top expectations. Digital advertising and subscription revenues rise by double digits as readers flock to The Times’ news products and its Games, Cooking, Wirecutter and The Athletic publications. Remember when Donald Trump called it the ‘failing New York Times’ in 2016? Stock has gained nearly 400 per cent since then. Extra! Extra!”
Fortis Inc. (STAR)
Why would anyone invest in a utility? Borrring! Okay, maybe not so boring. Shares of Fortis Inc. hit a record high this week after the release of strong second-quarter results on Aug. 1. The regulated gas and electric utility posted net earnings of $384-million or 76 cents a share, up from $331-million or 67 cents a year earlier, driven by capital investments and favourable currency exchange rates. With Fortis’ shares posting a total return, including dividends, of about 24 per cent in the past year, boring has never been so beautiful.
Agnico Eagle Mines Ltd. (STAR)
Business quiz! Shares of Agnico Eagle Mines Ltd. have been rising after the gold miner: a) replaced its picks and shovels with heavy mining machinery, a move the company said will “allow us to increase production dramatically while also alleviating chronic lower back pain suffered by many of our hard-working employees”; b) located a large gold deposit in Papua New Guinea using nothing but an old pirate’s treasure map; c) reported record free cash flow in the second quarter, driven by high gold prices, strong production and cost controls. Answer: c.
Shopify Inc. (STAR)
Revenues are up. Profits are up. And investors’ heart rates are way up. Shares of Shopify Inc. soared more than 21 per cent on Wednesday after second-quarter results blew past expectations, vaulting the e-commerce platform provider past Royal Bank to reclaim the title of Canada’s most valuable company. Who cares that Royal Bank made about six times as much money as Shopify last year and trades at a 2025 price-to-earnings multiple of less than 14, compared with a P/E of more than 100 for Shopify? Not Shopify investors.
Crocs Inc. (DOG)
There once was a business named Crocs
Whose sandals are worn without socks
But the stock stubbed its toe
As tariff winds blow
Its sales guidance into the rocks