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Los Angelas, CA -- (SBWIRE) -- 01/29/2013 -- PetSmart Inc. (NASDAQ:PETM) the pet food and supplies seller, fell after a Nomura analyst downgraded the company's shares, citing increased competition from Internet retailer Amazon.com. Nomura analyst Aram Rubinson downgraded PetSmart shares to "Reduce" from "Neutral." He also cut the stock's price target to $55 from $72. Nomura analyst Aram Rubinson downgraded PetSmart shares to "Reduce" from "Neutral." He also cut the stock's price target to $55 from $72. Rubinson said in a note to clients that Amazon.com Inc. may become more of a competitor to PetSmart as shipping costs fall. Pet food can be heavy and usually costs more to ship. Amazon.com has been cutting shipping costs by building distribution centers closer to consumers, said Rubinson. That could push customers to buy pet food online.
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Herbalife (NYSE:HLF) pushed the Drugs industry lower today making it today's featured Drugs laggard. The industry as a whole closed the day up 0.4%. By the end of trading, Herbalife fell $3.57 (-8.2%) to $40.02 on heavy volume. Throughout the day, 28.1 million shares of Herbalife exchanged hands as compared to its average daily volume of eight million shares. The stock ranged in price between $38.71-$44.54 after having opened the day at $43.44 as compared to the previous trading day's close of $43.59. TheStreet Ratings rates Herbalife as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity, impressive record of earnings per share growth, increase in net income and expanding profit margins.
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8x8 (NASDAQ:EGHT) fell another 3% this morning, adding to its huge loss last Friday after announcing quarterly earnings that disappointed investors. With a promising niche, the small Internet-based business communications company has kept posting solid growth in cash flow, revenue per business customer, and gross margin. If you're willing to look past the fall in GAAP earnings, you may well conclude that now is a truly attractive time to get in on the stock while it's trading at rock-bottom valuations.
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Research in Motion (NASDAQ:RIMM) tripped over an analyst comment on Monday morning and fell as much as 7.6 percent before bouncing back slightly. RBC Capital predicts that the company’s stock will will fall after the BlackBerry 10 event on Wednesday because many of the details of the new platform have been leaked already. RIM’s BlackBerry 10 launch has been framed as an all-or-nothing ordeal for months, and just two days before the event it’s clear that investor sentiment is all over the place. The stock is up nearly 50 percent since the beginning of the year, climbing from $12 to nearly $17 in a matter of weeks following a post-earnings plunge in December. RIM’s third-quarter report for fiscal 2013 showed a 47 percent year-on-year drop in revenue to $2.7 billion, and GAAP net income was $0.02 per diluted share, compared to $0.51 in the year-ago period. Adjusted net income came in at a loss of $0.22 per share.
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