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21.10.2019 22:32:00

Why PetMed Express, Seattle Genetics, and Coty Jumped Today

Monday was a good day for the stock market, as investors seemed optimistic on a broad range of topics. Enthusiasm about cooling tensions on the global trade front pointed the way toward a more favorable outcome, and third-quarter earnings have generally been strong thus far. A few stocks managed to post extremely strong gains on good news. PetMed Express (NASDAQ: PETS), Seattle Genetics (NASDAQ: SGEN), and Coty (NYSE: COTY) were among the top performers. Here's why they did so well.Shares of PetMed Express soared 34% after the online veterinary pharmacy company reported its fiscal second-quarter results. On their face, PetMed's numbers didn't seem all that healthy, as revenue sank 2% compared to the year-ago figure and net income was down by 38% over the same period. Yet the company's key metrics didn't decline as much as some had feared, and encouraging gains in reorders and a sizable boost to margins helped stoke confidence in PetMed's future. With investors having gotten used to poor past performance, PetMed's latest results were a welcome surprise.Image source: PetMed Express.Continue reading
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Aktien in diesem Artikel

Coty Inc (A) 11.00 20.02% Coty Inc (A)
PetMed Express Inc. 22.96 -0.17% PetMed Express Inc.
Seattle Genetics Inc. 105.86 0.00% Seattle Genetics Inc.

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