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:
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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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Reader Comments (Page 1 of 1)
10-24-2007 @ 8:42PM
Stephanie said...
I flew in from Chicago yesterday to see the flames over the smoke. I have had a home at Lake Arrowhead for many years. My soul rests there - now it cries for the tradegdy that rests on the ground. We all need to help our neighbors, the Americans that are in trouble.