Tractor Supply Company (NASDAQ:TSCO) is deep in the red in pre-market trading after reporting disappointing third quarter guidance. For the period, the company now expects EPS to be between $0.65 and $0.67 and revenue to be between $1.54 billion and $1.55 billion, compared to the consensus estimates of $0.72 per share and $1.61 billion, respectively. Comparable-store sales is expected to be between flat and a decrease of 1%. Tractor Supply’s management cited a number of economic headwinds that have impacted consumer spending, including weak energy production and the soft agricultural market, as reasons for the disappointing results. 29 funds in our system were long Tractor Supply Company (NASDAQ:TSCO) as of the most recent 13F reporting period.
Pier 1 Imports Inc (NYSE:PIR) shares are sharply lower after the company issued softer-than-expected preliminary results for its fiscal 2017 second quarter. For the three months, Pier 1 expects a loss of $0.05 or $0.06 per share, while the consensus had called for a loss of $0.03 per share. The company also expects revenue to trend lower by 6.7% year-over-year as demand wanes. Adding salt to the wound is the news that CEO Alex Smith will step down effective December 31, 2016. The number of funds in our database with holdings in Pier 1 Imports Inc (NYSE:PIR) rose by nine quarter-over-quarter to 22 at the end of June.
A few years after buying McAfee for $7.68 billion, Intel Corporation (NASDAQ:INTC) is now spinning out the security business. According to the spin-out terms, Intel will retain a 49% stake in the new company, aptly also called McAfee, and will also receive $3.1 billion in cash from TPG, who will own 51% of the new company. The spin-out values McAfee at around $4.2 billion. 57 funds that we track owned shares of Intel Corporation (NASDAQ:INTC) as of the most recent 13F reporting period.