7 Sizzling Stocks: PetSmart Drops 3%, While Sothebys Plummets 9%
Shares of PetSmart Inc. (NASDAQ:PETM) dropped 3 percent in late trading. The company reported a 13 percent increase in fourth quarter earnings, but margins declined. The company earned a profit of $102 million (91 cents per share), compared to $90.3 million (77 cents per share) a year earlier.
Sothebys shares (NYSE:BID) plummeted more than 9 percent after the closing bell. Net income for the fourth quarter declined 25.7 percent to $71.5 million ($1.04 per share), compared to $96.2 million ($1.40 per share) a year earlier.
Don’t Miss: Hot and Cold Vacation Stocks for 2012
After closing 14 percent lower on Wednesday, Sodastream International Ltd. (NASDAQ:SODA) shares edged lower in late trading. The company reported strong fourth quarter results, but analysts are concerned about declining unit sales.
J.P. Morgan Chase and Co. (NYSE:JPM) shares fell .30 percent in extended trading hours. The bank received notice from the SEC that it could face charges over mortgage-backed investments. Similar disclosures were also made by Goldman Sachs (NYSE:GS) and Wells Fargo (NYSE:WFC).
Shares of Zumiez Inc. (NASDAQ:ZUMZ) bounced higher after reporting sales increased 23 percent in February to $40.2 million. Same-store sales also increased 14.2 percent.
Investor Insight: Iran Embraces Gold as Real Money
To contact the reporter on this story: Eric McWhinnie at email@example.com
To contact the editor responsible for this story: Damien Hoffman at firstname.lastname@example.org