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Stock Market & Financial Investment News

News For LTD;PETM;NTAP From The Last 14 Days
Check below for free stories on LTD;PETM;NTAP the last two weeks.
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August 19, 2014
15:39 EDTPETMPetSmart to explore alternatives, including potential sale, Reuters reports
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15:27 EDTPETMPetSmart spikes on potential review of alternatives, including sale
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15:25 EDTPETMPetSmart may announce intention to review alternatives, Reuters says
May include sale, Reuters added.
15:16 EDTPETMNotable companies reporting before tomorrow's open
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August 18, 2014
11:30 EDTPETMJANA says anonymous package shows PetSmart missing targets
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10:46 EDTPETMJANA discloses receipt of anonymous PetSmart presentation
JANA Partners disclosed that on August 14, it received in the mail an anonymous, unsolicited package containing a presentation prepared by PetSmart, setting forth certain business plans relating to improving third and fourth quarter results and a cover letter noting that the company "has missed internal projections and criticizing the Issuer’s actions including those described in the Presentation as not being in the long-term best interests of shareholders." JANA believes that in the interest of full disclosure such materials should be shared with all shareholders. However, given that certain portions of such materials may be deemed to be competitively sensitive, on August 18, it sent a copy of such materials to PetSmart, together with a letter asking the company to "promptly release such materials after redacting any such competitively sensitive information." JANA says it does not have any knowledge regarding who may have sent this material, and has not independently verified the authenticity of any statements made therein.
August 14, 2014
12:58 EDTPETMJANA Partners gives quarterly update on stakes
NEW STAKES: Apache (APA), FMC Corp (FMC), Civeo (CVEO), PetSmart (PETM), and Charter Communications (CHTR). INCREASED STAKES: Actavis (ACT), AIG (AIG), Mallinckrodt (MNK), HD Supply (HDS), and American Capital (ACAS). DECREASED STAKES: Liberty (LVNTA), Oil States International (OIS), eBay (EBAY), Liberty Media (LMCA), and Liberty Interactive (LINTA). LIQUIDATED STAKES: Sirius XM (SIRI), Juniper (JNPR), Golar LNG (GLNG), Outerwall (OUTR), and Teva (TEVA).
11:45 EDTNTAPNetApp rises after earnings beat, Needham upgrade
Shares of storage systems provider NetApp (NTAP) are advancing after the company posted better than expected first quarter results and received positive analyst commentary. WHAT'S NEW: Last night, NetApp reported Q1 adjusted earnings per share of 60c and revenue of $1.49B, beating analysts' consensus estimates of 57c and $1.47B, respectively. Q1 adjusted gross margin was 64.3%. WHAT'S NOTABLE: NetApp forecast second quarter adjusted EPS of 66c-71c and revenue of $1.49B-$1.59B, compared to consensus of 69c and $1.53B, respectively. For fiscal 2015, the company sees EPS growth just under 10% and revenue growth in the mid-single digits. FY15 adjusted gross margin is seen at 63%-64%. On NetApp's Q1 conference call, management said it was seeing a rebound in enterprise spending in the U.S. ANALYST REACTION: This morning, analyst commentary was overwhelmingly positive. Needham upgraded NetApp to Buy from Hold following its strong Q1 report, citing better enterprise spending. Their price target was $49. Two firms, Piper Jaffray and Brean Capital, raised their respective price targets on NetApp and Pacific Crest said NetApp is "'undervalued and underappreciated," noting that the company's Q1 results included 13% earnings growth year-over-year. PRICE ACTION: In late morning trading, NetApp rose $1.47, or 3.7%, to $40.77 on heavy trading volume. Despite today's advance, the stock is down approximately 4% over the past 12 months. OTHERS TO WATCH: Other companies in the storage space include: EMC (EMC), Dot Hill Systems (HILL) and Nimble Storage (NMBL).
10:05 EDTNTAPOn The Fly: Analyst Upgrade Summary
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07:44 EDTNTAPNetApp 'undervalued and underappreciated,' says Pacific Crest
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07:33 EDTNTAPNetApp price target raised to $45 from $42 at Brean Capital
Brean Capital raised its price target on NetApp to $45 from $42 following its Q1 results, citing gross margins improvement and higher OEM revenues. The firm keeps its Buy rating on NetApp.
06:47 EDTNTAPNetApp upgraded to Buy from Hold at Needham
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06:39 EDTNTAPNetApp product cycle bottomed in Q4, says Cantor
Cantor Fitzgerald believes NetApp's product cycle bottomed in Q4 after the company reported upside in Q1 and issued a "healthy" outlook for Q2. Cantor sees "excellent execution" by NetApp and a slightly improved spending environment. The firm raised its price target for shares to $47 from $45 and keeps a Buy rating on the stock.
06:37 EDTNTAPNetApp price target raised to $46 from $42 at Piper Jaffray
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August 13, 2014
18:26 EDTNTAPNetApp says seeing rebound in enterprise spending in U.S.
Says seeing momentum in key business areas and expects it to continue through FY15. Says feels "really good" about flash portfolio. Says it has been major part of company's momentum. Says seeing a broader range of products being sold. Expects to continue to generate strong cash flow. Comments from Q1 earnings conference call.
17:43 EDTNTAPNetApp sees FY15 EPS growth just under 10%, consensus $2.96
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16:02 EDTNTAPNetApp sees Q2 adjusted EPS 66c-71c, consensus 69c
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16:01 EDTNTAPNetApp reports Q1 EPS 60c, consensus 57c
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15:05 EDTNTAPNotable companies reporting after market close
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11:20 EDTNTAPNetApp technical comments ahead of earnings
In the prior three months the stock has outperformed the broader averages, trading up over 12.8%. The trend has been decidedly bullish in this interval without much volatility. This suggests investors and traders are comfortable with the company's prospects and the absence of a substantial short-base reinforces that outlook. When we look at a longer-term chart, it is apparent that the last three months has been a nearly symmetrical but inverse move of the previous quarter. A level that stands out clearly as a result of this six-month long dip and recovery is at $40. The stock would be back on a more neutral technical basis if it can retake and build on a move above the $40 level. And that would given the current price at $39.26 be an easy move if the fundamental news supports it. Additional resistance levels above $40 are at $41.57 and then at $44.32. Both of those levels are prior pivot points on a closing basis. If the news disappoints there are some well-defined levels from the last six months that could become downside objectives. A risk is that without much of a short-base, downside moves could be more extreme. On a scale of increasing disappointment, supports are at $38.12, $36.38, $35, and $33.72.
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