New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
August 18, 2014
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.
News For PETM From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
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.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use