Monday, July 23, 2012

The Wet Seal Sowing Selling Pressure (WTSLA, ITMN, PETS, HSOL, AKRX)

The Wet Seal Inc (NASDAQ:WTSLA) slipped 13.85% to $2.54.The Board of Directors has terminated the employment Susan McGalla, Chief Executive Officer effective immediately. The Board is commencing a search for a new Chief Executive Officer.The Company expects comparable store sales to decline between 10% and 11% for the second quarter. The Company expects second quarter loss before non-cash asset impairment and CEO severance costs will be between $0.06 and $0.07 per diluted share.

How Should You Trade WSTLA Now, Get Free Trend Analysis

InterMune Inc (NASDAQ:ITMN) decreased 12.98% to $10.19.The Company posted second quarter revenue of $5.5 million compared to analysts’ expectations of revenue of $40 million.

Net loss from continuing operations was $50.9 million or 78 cents per share compared to loss of $41.3 million or 70 cents per share in the prior year period. However, analysts expected a loss of 23 cents per share. The Company expects full year revenue from Esbriet to be between $20 million and $25 million.

Petmed Express Inc (NASDAQ:PETS) went down 12.17% to $9.89 after the Company released second quarter results. Net income was $4 million or 20 cents per share compared to $4.8 million or 22 cents per share in the prior year period. Revenue declined 6.3% to $69 million due to a decline in average order size. During the quarter ended June 30, 2012 average order size was $73 compared to $80 for the quarter ended June 30, 2011. The sales in the June quarter might also have been negatively affected by the peak season starting earlier this year due to the warmer weather.

Hanwha Solarone Co Ltd (NASDAQ:HSOL) decreased 10.85% to $1.07. Recently, the Company intends to offer energy-storage systems from Silent Power Inc with solar panels from its Hanwha SolarOne unit.
Akorn Inc (NASDAQ:AKRX) plunged 8.66% to $13.61. Deutsche lowered the rating on the stock from buy to hold and the price target is set at $14.

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