07/09 5:54P (DJ) =PetSmart Loses 8% In Aftermarket As 2Q Seen Missing Views
Story 5585 (BGEN, PETM, SUMA, VVUS, I/BTC, I/CMT, I/MDV, I/MTC, I/OTS...)
NEW YORK (Dow Jones)--PetSmart Inc. (PETM) pulled back 8% in aftermarket
trading after the pet supply chain said it expects its second-quarter earnings
to miss consensus estimates by three to five cents a share.
The stock recently turned over at 9 1/4, after settling down 5/16, or 3.0%,
at 10 1/16.
The Phoenix-based company anticipates earnings will fall in a range of
breakeven to a loss of 2 cents a share for the second-quarter ending Aug. 2,
while Wall Street had forecast net income of 3 cents. Last year, the company
posted operating earnings of 2 cents a share, excluding charges.
Biogen Inc. (BGEN) reclaimed part of its intraday losses after reporting
second-quarter earnings that met analysts' expectations at 41 cents a diluted
share. The company earned 26 cents a share a year ago.
Shares of the company, which provides and develops drugs, recently gained 1,
or 2%, at 52 9/16, after closing off 1 3/16, or 2.3%, at 51 9/16.
Vivus Inc. (VVUS) edged slightly higher after-hours, reversing direction
from the regular session, where the stock lost 1 15/32, or 16%, to 7 23/32.
The male-impotence-treatment provider registered a second-quarter loss of 76
cents a diluted share, including a $6.5 million restructuring charge, while a
First Call Corp. consensus had estimated a loss of 45 cents.
Summa Four Inc. (SUMA) also inched a trifle higher in late trading after it
said fiscal first-quarter earnings would be around 32 cents to 37 cents a
share, which includes a $4.4 million gain from a lawsuit settlement. That
compares with a 10-cent a share loss last year for the quarter ended June 30.
Revenues are estimated to be between $9.5 million and $9.7 million, modestly
above last year's $9.27 million.
Summa's stock traded at 11 5/8, a tad more than its closing share price of
11 3/8, which reflected a dip of 1/8, or 1.1%, on the day.
-Tara Siegel; 201-938-5176
(END) DOW JONES NEWS 07-09-98
05:54 PM
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