Nomura downgraded its rating on shares of PetSmart Inc. (PETM) Monday morning to "Reduce" from "Neutral."
PetSmart gapped open lower Monday and declined throughout the first 2 hours of trade. The stock finished with a loss of 6.35 at $63.64, with volume at nearly a 4-month high. PetSmart sank to nearly a 7-month low and fell below its 50 and 200-day moving averages.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.