Volume Spike Investor

PetSmart Inc. (NASDAQ: PETM) has gone from bad to worse this morning. The company managed to beat earnings after yesterday’s closing bell, but the pet supplies retail giant gave very weak guidance in earnings ahead on low sales growth. Shares were down close to 10% last night on over 635,000 shares traded in the after-hours session. This morning we have shares trading down almost 12% at $19.87 on about 75,000 shares as of 8:40 AM EST. Average volume here is almost 2.2 million shares. Credit Suisse cut its rating to Neutral from Outperform after the report. -JON OGG