The ongoing Facebook IPO debacle and continuing Chesapeake Energy shenanigans graced headlines for yet another week, but other noteworthy happenings went down, too. Let's take a look at what the heck happened with three stocks this week.
Invest in Scotch whiskey, all fiscal year long
Beverage behemoth Diageo
Diageo enjoyed 50% net sales growth in its scotch brands over the past five years. Last year, Scotch represented 23% of Diageo's net sales. Pure-play spirits competitor Beam
Diageo stock rose 4% after the announcement that it'd be investing in production. Then, on Thursday, Diageo spiritedly solidified its commitment to whiskey by announcing it'll buy Cabin Fever Maple Flavored Whiskey. This move plays on Diageo's strength -- developing new products, marketing them, and leveraging its global distribution infrastructure. U.K.-based Diageo, which produces Johnnie Walker, Crown Royal, and Bushmills, is up more than 12% this year.
No spring in its mattress, no spring in its step
But Tempur-Pedic views the stock pullback as an ample buying opportunity and plans to snatch up $200 million of its shares on the open market. The stock is off nearly 60% this year and trades at 7 times forward earnings.
A week for deep yoga breaths
Yoga-inspired apparel maker lululemon athletica
Being a Wall Street darling like lululemon can have its drawbacks. Once everyone is keen to your game, prices can get bid up to lofty levels and anything less than perfect execution can send shares tumbling. Fortunately, The Motley Fool's Top Stock for 2012 is still flying under Wall Street's radar, and you can get in early on an enormous growth story early. Learn more.