Héroux-Devtek Inc. (STAR)
HRX - TSX
Thanks to landing-gear maker Héroux-Devtek Inc., planes don’t belly surf and burst into flames every time they touch down on the runway. Also thanks to Héroux-Devtek, investors’ portfolios took off this week. Shares of the Quebec-based company – the world’s third-largest designer and manufacturer of landing gear – jumped after it agreed to be acquired by U.S. private-equity firm Platinum Equity Advisors LLC for $32.50 in cash per share, or about $1.35-billion, including debt. “Ladies and gentlemen, this is your captain speaking. The flight attendants will now be serving free champagne for everyone!”
Costco Wholesale Corp. (DOG)
COST - Nasdaq
It’s an idea Tom Sawyer would love: Open a store, and charge people for the privilege of spending money there. Shares of Costco Wholesale Corp., which raked in about US$4.5-billion from membership fees last year, initially rose after the retailer announced it will hike member dues in Canada and the U.S. for the first time since 2017. But investor enthusiasm quickly waned, perhaps because the increase was only a modest $5 or $10 annually, depending on the type of membership. No word on whether Costco members will also be required to help with painting and other chores around the store.
Tesla Inc. (DOG)
TSLA - Nasdaq
Business quiz! After rising for 11 consecutive trading days, shares of Tesla Inc. slammed on the brakes on Thursday after: a) CEO Elon Musk announced that he is selling half his Tesla stake to fund a hostile takeover of NASCAR, “whose cars will be powered by SpaceX rocket engines starting with next year’s Daytona 400”; b) the company killed off its Cybertruck, saying it “regrets introducing this expensive, butt-ugly joke of a vehicle that serves no practical purpose whatsoever”; c) Bloomberg reported that Tesla is delaying the reveal date for its autonomous robotaxi from Aug. 8 until October to allow more time to develop prototypes, stoking concerns that the vehicle is still a long way from being viable. Answer: c.
QuantumScape Corp. (STAR)
QS - NYSE
Bad: Taking your EV on a 500-km road trip and realizing at the 450-km mark that your battery is about to die. Good: Investing in EV battery maker QuantumScape Corp. Shares of the company surged this week after it signed a deal giving Volkswagen’s battery subsidiary, PowerCo, the right to license and mass produce QuantumScape’s solid-state, lithium-metal battery technology, which is designed to enable faster charging and greater safety. With QuantumScape’s stock erasing its losses for the year with this week’s gains, investors are in the driver’s seat.
Helen of Troy Ltd. (DOG)
HELE - Nasdaq
In Greek mythology, Helen of Troy was said to be the most beautiful woman in the world. Helen of Troy Ltd., on the other hand, could crack a mirror with its ugly stock chart. The company – which makes a range of consumer products, from hairstyling and grooming tools to air purifiers and food storage containers – shed more than one-quarter of its market value after it reported a 12.2-per-cent drop in sales for the fiscal first quarter ended May 31. Adding to Helen of Troy’s unsightly financial picture, the company slashed its revenue and earnings guidance for the full year, with sales in its beauty and wellness division now expected to decline by as much as 8 per cent. Investors are running away in fear.