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Stock Market & Financial Investment News

News Breaks
August 20, 2014
07:34 EDTPETMPetSmart news positive overall, says Stifel
After PetSmart announced higher than expected EPS, said that it would acquire the website Pet 360 and said it would pursue strategic alternatives, Stifel is upbeat on the Pet360 deal. The firm thinks the acquisition was a meaningful step by PetSmart to improve its lagging ecommerce offerings. But the firm thinks the company's EPS beat was mainly driven by cost cutting and it views the retailer's guidance negatively. Stifel keeps a Hold rating on the shares.
News For PETM From The Last 14 Days
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March 6, 2015
09:23 EDTPETMHanesbrands split could be precursor to index addition, says FBR Capital
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March 5, 2015
09:25 EDTPETMPetSmart to host special shareholder meeting
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March 4, 2015
09:08 EDTPETMPetSmart says on track for $200M cost saving target by FY16
In 3Q14, PetSmart announced a profit improvement program. The company believes it is on track to meet or exceed run-rate pre-tax cost savings target of $200M under this program by the end of FY16. The company anticipates incurring a total of approximately $30M in one-time charges associated with this program.
09:05 EDTPETMPetSmart reports Q4 SSS up 2.6%
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09:04 EDTPETMPetSmart says not providing 2015 guidance in light of pending transaction
On December 14, 2014, PetSmart entered into a definitive agreement to be acquired by a consortium led by BC Partners, Inc. at a price of $83.00 per share in cash. The transaction is expected to close in 1Q15, subject to shareholder approval and other customary closing conditions. The special meeting of shareholders to consider and vote on the transaction will be held on March 6, 2015. In light of the pending transaction, the company is not providing guidance for 2015 and will not be holding a conference call to discuss its fourth quarter and fiscal year 2014 results.
09:03 EDTPETMPetSmart reports Q4 adjusted EPS $1.43, consensus $1.38
Reports Q4 revenue $1.91B, consensus $1.87B. Adjusted EPS excludes one-time costs associated with the profit improvement program and transaction-related costs related to the sale of the company.
March 3, 2015
15:20 EDTPETMNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include PetSmart (PETM), consensus $1.38... Trina Solar (TSL), consensus 13c... Lexicon Pharmaceuticals (LXRX), consensus (3c)... Abercrombie & Fitch (ANF), consensus $1.15... American Eagle Outfitters (AEO), consensus 34c... E. W. Scripps (SSP), consensus 40c.

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