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Stock Market & Financial Investment News

News Breaks
May 21, 2014
11:36 EDTPETM, WOOFPetSmart hits 52-week low after profit outlook trails expectations
Shares of pet products and services supplier PetSmart (PETM) are sinking after the company reported mixed first quarter results and issued weaker than expected profit outlooks for the second quarter and fiscal 2014. WHAT'S NEW: This morning, PetSmart reported Q1 earnings per share of $1.04 and revenue of $1.7B, compared to expectations of $1.01 and $1.77B, respectively. Q1 same store sales decreased 0.6%, with comparable transactions down 2.2%. The company forecast Q2 EPS of 92c-96c, trailing the consensus of $1.00. Q2 SSS are seen to be flat to slightly down. For FY14, PetSmart forecast EPS of $4.29-$4.39, compared to consensus of $4.45. It sees FY14 net sales growth in the low single digits, versus consensus $7.25B. FY14 SSS are expected to be relatively flat. PRICE ACTION: In late morning trading, PetSmart fell $4.89, or about 7.9%, to $57.30 on nearly four times its average daily trading volume. Earlier in the session, the stock hit a new 52-week low of $56.77. Including today's pull back, the stock is down about 18% over the past twelve months. OTHERS TO WATCH: Other companies in the pet supply space include privately owned PETCO Animal Supplies and VCA Antech (WOOF), which provides veterinary services and diagnostic testing to support veterinary caregivers.
News For PETM;WOOF From The Last 14 Days
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July 24, 2014
16:04 EDTWOOFVCA Inc. backs 2014 adjusted EPS view $1.77-$1.87, consensus $1.83
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16:02 EDTWOOFVCA Inc. reports Q2 EPS adjusted 55c, consensus 54c
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July 23, 2014
06:46 EDTPETMPetSmart volatility at low end of historic range
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July 22, 2014
10:00 EDTWOOFOn The Fly: Analyst Upgrade Summary
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08:06 EDTWOOFVCA Inc. upgraded at Stifel
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06:12 EDTWOOFVCA Inc. upgraded to Hold from Sell at Stifel
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July 17, 2014
10:00 EDTPETMOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: 21st Century Fox (FOXA) downgraded to Buy from Strong Buy at ISI Group... Charter (CHTR) downgraded to Hold from Buy at Jefferies... Covidien (COV) downgraded to Hold from Buy at Needham... Diageo (DEO) downgraded to Underweight from Neutral at JPMorgan... GNC Holdings (GNC) downgraded to Hold from Buy at Jefferies... International Game (IGT) downgraded to Market Perform from Outperform at BMO Capital... JAVELIN Mortgage (JMI) downgraded to Market Perform from Outperform at JMP Securities... Macquarie Group (MQBKY) downgraded to Underweight from Neutral at JPMorgan... PNC Financial (PNC) downgraded to Neutral from Buy at Compass Point... PetSmart (PETM) downgraded to Sector Perform from Outperform at RBC Capital... Rexam (REXMY) downgraded to Hold from Buy at Deutsche Bank.
06:19 EDTPETMPetSmart downgraded to Sector Perform from Outperform at RBC Capital
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July 11, 2014
16:46 EDTPETMStocks end week lower on European, Fed concerns
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07:47 EDTPETMPetSmart unlikely to be acquired, says Oppenheimer
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