A humorous look at the companies that caught our eye, for better or worse, this week
Nvidia Corp. (STAR)
Business quiz! Chip maker Nvidia made headlines this week after the company: a) announced a partnership with Campbell’s to create SoupGPT, a line of ready-to-soups that use AI and facial recognition technology to optimally adjust flavour and temperature; b) became the first publicly traded company to achieve a market capitalization of US$4-trillion; c) announced a deal to acquire Germany, the world’s third-largest economy. Answer: b.
Canada Goose Holdings Inc. (STAR)
Hot: Wearing a Canada Goose parka in the sweltering summer heat. Hotter: Canada Goose’s stock price. Shares of the luxury clothing brand jumped to a 52-week high after Bloomberg reported that controlling shareholder, Bain Capital, is mulling a sale of all or part of its stake in the company. With Canada Goose’s shares up about 33 per cent this year, investors are honking all the way to the bank in their fur-trimmed coats.
ProKidney Corp. (STAR)
ProKidney seems like a silly name for a company. I mean, do you know anyone who is anti-kidney? Anyway, investors are very much pro-ProKidney after the company reported encouraging data from the phase 2 trial of its drug, rilparencel, which aims to treat chronic kidney disease in patients with diabetes. With the shares up more than 600 per cent over the past five days, the pros of owning this stock definitely outweigh the cons.
WK Kellogg Co. (STAR)
Did someone say snap, crackle and pop? Shares of WK Kellogg Co. surged after the 119-year-old cereal maker agreed to be acquired by Italian confectioner Ferrero Group for US$3.1-billion or US$23 a share in cash – a 31-per-cent premium to the price before the deal was announced. If you’ve been waiting anxiously for Ferrero Rocher-flavoured Corn Flakes or Nutella-infused Mini Wheats, your dreams may be about to come true.
Dave Inc. (DOG)
There once was a business named Dave
Whose banking app helped people save
But the stock’s massive rise
Gave way to some sighs
As it finally started to cave