Southern California firestorm singes local stocks


Reuters reports that several companies in Southern California have been hit by the firestorm there. The stocks in these companies have fallen less than the market -- the S&P 500 is down 3.2% -- in the last week. But in one case -- Broadcom (NASDAQ: BRCM) -- investors dumped the stock for reasons unrelated to the fire.

These six public companies have been affected by the fires as follows:

  • Jack in the Box (NYSE: JBX). The San Diego corporate headquarters were closed on Monday and Tuesday, though spokesman Brian Luscomb said there were a couple of dozen employees working at the fast food company's building on Tuesday morning. Its stock is up 0.1% in the last week.
  • Qualcomm (NASDAQ: QCOM). Few showed up at the San Diego headquarters of the wireless technology and semiconductor developer, where the bulk of its 11,200 worldwide employees work. Its stock is down 2.8% in the last week.
  • Broadcom (NASDAQ: BRCM). The semiconductor firm closed its San Diego office, but was open in Irvine. Its stock is down 20.9% in the last week -- due to a downgrade.
  • Cubic (AMEX: CUB). The defense and transportation company closed its corporate headquarters on Monday and Tuesday. Its stock is down 2.5% in the last week.
  • Starbucks (NASDAQ: SBUX). The coffee house chain closed about 120 of its stores in San Diego and Ventura counties. Its stock is down 2.7% in the last week.
  • McDonald's (NYSE: MCD). As of Monday evening, 16 McDonald's restaurants in Southern California were closed. Its stock is down 0.8% in the last week.

My heart goes out to all those who have been affected by this disaster. I hope that the fires end soon so people there can start rebuilding.

Peter Cohan is President of Peter S. Cohan & Associates, a management consulting and venture capital firm. He also teaches management at Babson College and edits The Cohan Letter. He has no financial interest in the securities mentioned.

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Last updated: February 13, 2012: 02:19 AM

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