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Stock Market & Financial Investment News

News Breaks
January 16, 2014
07:20 EDTPETMPetSmart removed from Best Ideas List at Wedbush
Wedbush does not see any catalysts that can drive PetSmart higher in the near-term, given further changes in its senior management. The firm thinks the changes create a lack of visibility. However, it keeps an Outperform rating on the stock based on valuation.
News For PETM From The Last 14 Days
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July 30, 2014
11:36 EDTPETMPE firms not showing much interest in PetSmart, NY Post says
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July 29, 2014
09:10 EDTPETMJANA sends letter to PetSmart urging full strategic review
JANA Partners, owner of 9.8% of PetSmart's outstanding shares, sent a letter to the company dated July 29, which read in part: "While PetSmart was once an industry leader, it has long trailed most of its peers in shareholder value creation and failed to keep pace with its competitors, and shareholders have lost confidence that it can reverse course. We have therefore called on PetSmart to conduct a full review of all strategic alternatives including a sale. While we typically work constructively with boards and focus primarily on changes that can be made while companies remain public, given PetSmartís chronic underperformance and significant private equity interest in the Company, a sale in this case very likely offers the highest risk-adjusted return for shareholders...should PetSmart fail to do so, we will not hesitate to seek significant Board change at the next annual meeting."
July 23, 2014
06:46 EDTPETMPetSmart volatility at low end of historic range
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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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