Safeway Open: Brendan Steele

Brendan Steele went -18 for the Safeway Open tournament October 13 - 16, 2016.




Right off the bat, I couldn't pull up any stock charts to map how the tournament name title would have any effects on price as all Safeway data points towards the January 2015 merger between them and grocer Albertsons. So with that, we will focus on the winner and his sponsors: starting with Wilson Staff, aka Wilson Sporting Goods.

Amer Sports Corporation (formerly Amer-Yhtymä Oyj) is a Finnish headquartered sporting goods company with brands including Salomon, Wilson Sporting Goods, Atomic Skis, Arc’teryx, Mavic, Suunto, ENVE Composites, and Precor.

Established in 1950 as an industrial conglomerate with interests as diverse as ship owning, tobacco products and publishing, Amer has gradually evolved into a multinational firm devoted to the production and marketing of sporting goods. Today, the company employs just under 8,000 people. The company shares are listed on the Nasdaq Helsinki stock exchange; So lets take a look back to when Steele took the trophy.


HEL: AMEAS



What's that we see on the Monday back from the tournament? A bump in price that lasts all week, from 26.16 to 26.61. It's clearly not a stable situation in terms of trading for this company; but if you put your orders in on sunday morning and sold by weeks end; you would have been up.

This is of course, simplifying things. There are many factors that play into stock movement, but we are going to chalk up this tournament win as a burst of momentum and we are going to be observing if the trend continues for PGA winners.

Another sponsor that I couldn't find financials for was another sponsor for Steele called Cresa.

Cresa is an international commercial real estate firm headquartered in Boston, Massachusetts. Cresa represents tenants and provides real estate services, including corporate services; strategic planning; transaction management; project management; facilities management; workforce and location planning; portfolio/lease administration; capital markets; supply chain management; sustainability; and sublease and distribution.