Wednesday, September 17, 2008

Garda's not-so-armoured stock

During a week in which most stocks are being swept up in a torrent beyond their control, it's nice to see that some stocks continue to move on company-specific news – unless the company is Garda World Security Corp. The Canadian company was once a stock market wonder, as it grew into the world's fifth-largest security (not securit-ies) firm through a series of takeovers.

On Tuesday, the stock price was sliced in half after Garda shocked investors with a second-quarter loss of $1-million, or 3 cents a share – a loss that may be far more than a temporary setback for the company. A consensus of analysts had expected earnings of 18 cents a share. Now, analysts are catching up to the news after the shares fell to $4.02 in Toronto.

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