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Leigh Baldwin & Co.

112 Albany Street, Cazenovia, NY 13035 | Phone: (315) 655-2964 Toll Free: 1-800-659-8044

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Diamonds and Dogs

5/29/12

Tractor Supply Company (TSCO)

Tractor Supply is getting mowed down today, down 7.18% at $92.47. The company saw its stock drop after Cleveland Research said Tractor Supply's same-store sales had slowed in the last month, and lowered its estimate of same-store sales growth for the farm equipment retailer. Tractor Supply said first quarter profit more than doubled from the same quarter last year to 55 cents a share, beating forecasts by 2 cents, on higher sales. Furthermore, mild winter weather helped to boost sales, as revenue rose 22% to $1.02 billion in the quarter, topping estimates. Same-store sales surged 11.5% in the period. Although the company beat estimates; forecasts for the full year 2012, shows a consensus estimate is 23% EPS growth. That would represent the third straight year of decelerating earnings growth for Tractor Supply.

Interline Brands Inc. (IBI)

Interline Brands was on a straight line up today, climbing 39.80% at $25.08. The company saw its pop after the news was released that Goldman Sachs (GS) Group Inc.'s private-equity unit and P2 Capital Partners LLC agreed to buy the company in a deal valued at $1.1 billion including debt. Interline brands is a distributor of janitorial, plumbing and lighting products that went public in 2004. Funds managed by GS Capital Partners and P2 Capital will pay Interline shareholders $25.50 a share, 42 percent higher than the closing price on May 25. "Interline has operated successfully in both public and private settings in the past," said Michael J. Grebe, Interline's chairman and chief executive officer. Grebe also said, "GS Capital Partners and P2 Capital Partners have a shared vision of our value creation opportunities and the actions needed to realize them." Interline is having a phenomenal day.
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