Diamonds and Dogs
8/12/13Sysco Corporation (SYY)
Sysco Corporation is trading in the red today, down 5.77% at $32.99. The food distributor saw its shares fall after releasing earnings and forecasts. For the quarter Sysco announced profit fell 8.5% to $283 million, or $0.47 per share, compared to $309 million, or $0.55 per share, a year earlier. Furthermore, net sales were only in line with analyst's expectations at $11.6 billion. Wall Street analysts expected the company to earn $0.54 per share on sales of $11.59 billion. On the company's fourth quarter earnings conference call, management noted they no longer expect to hit their fiscal year 2015 EPS goal of $2.50-$2.75 due to the challenging environment. Shares fell over $2.00 today but were able to hold up above their 52-week low of $29.34.
ChannelAdvisor Corporation (ECOM)
ChannelAdvisor is reaching new highs today, up 12.14% at $28.04. The software-as-a-service (SaaS) company saw its shares skyrocket after news that one of the companies using its product (AltaTac Inc.) was able to increase their marketplace sales by 373%. "ChannelAdvisor elevated our marketplace performance to a new level, so it made sense to implement the entire ChannelAdvisor platform to manage our business across all online channels," said AltaTac President Yochay Botach. "We can now proficiently manage our product listings and evaluate our performance on marketplaces, paid search engines and comparison shopping sites from one unified interface, which allows us to simplify our overall business operations." The news from AltaTac sent ChannelAdvisor shares to a new 52-week high of $28.07 intraday.
Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.