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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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October 6, 2014
10:04 EDTPETMOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Abercrombie & Fitch (ANF) downgraded to Neutral from Overweight at Piper Jaffray... Air France-KLM (AFLYY) downgraded to Neutral from Buy at Citigroup... BAE Systems (BAESY) downgraded to Hold from Buy at Societe Generale... Buffalo Wild Wings (BWLD) downgraded to Neutral from Outperform at Wedbush... Church & Dwight (CHD) downgraded to Underweight from Equal Weight at Barclays... Colgate-Palmolive (CL) downgraded to Equal Weight from Overweight at Barclays... Deckers Outdoor (DECK) downgraded to Neutral from Overweight at Piper Jaffray... Delhaize (DEG) downgraded to Hold from Buy at Deutsche Bank... Fortinet (FTNT) downgraded to Equal Weight from Overweight at Morgan Stanley... McDonald's (MCD) downgraded to Equal Weight from Overweight at Morgan Stanley... Midcoast Energy (MEP) downgraded to Neutral from Buy at UBS... Mobileye (MBLY) downgraded to Market Perform from Outperform at Raymond James... Myers Industries (MYE) downgraded to Neutral from Buy at CL King... Nationstar (NSM) downgraded to Underperform from Market Perform at Keefe Bruyette... PTC Therapeutics (PTCT) downgraded to Market Perform at Cowen... PetSmart (PETM) downgraded to Equal Weight from Overweight at Barclays... Qlik Technologies (QLIK) downgraded to Equal Weight from Overweight at Morgan Stanley... Subsea 7 (SUBCY) downgraded to Neutral from Outperform at Exane BNP Paribas... Tekmira (TKMR) downgraded to Market Perform from Outperform at ... XL Group (XL) downgraded to Market Perform from Outperform at FBR Capital... Xoom (XOOM) downgraded to Underweight from Equal-Weight at Evercore.
05:34 EDTPETMPetSmart downgraded to Equal Weight from Overweight at Barclays
Barclays downgraded PetSmart to Equal Weight citing the recent rally in shares as well as the company's weak traffic and deteriorating margins. The firm sees share downside should management choose to not pursue a strategic alternative. In the event of a sale, Barclays sees a potential price of $80 per share, however. It lowered its price target for PetSmart to $70 from $75.

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