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.