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In the wide and varied family of the thousands and thousands of funds out there, the exchange-traded fund is one of the more consumer-friendly ones.
Unlike mutual funds, exchange-traded funds, or ETFs, behave more like stocks. You can buy
into an ETF at any time, and sell it whenever you feel like it. And like a stock, an ETF's value can rise and fall--depending
on what the ETF is invested in.What do ETFs invest in? Well, they're typically linked to an index like the Dow Jones Industrial
Average or the S&P 500. So, if you had an ETF that trades the same companies that make up the Dow or the S&P, it will
rise and fall in value pretty much the same amount as the Dow or S&P.
You can also buy ETFs that invest in other
types of products, like bonds, currencies, gold or other commodities. The ETF market has grown considerably in the past few
years, so there is no shortage of ETFs to invest in.
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Thursday, August 28, 2008
PetSmart Second-quarter Net Income Dips To 30 Cents a Share
Sue Chang
MarketWatch Pulse
SAN FRANCISCO -- PetSmart Inc. late Thursday reported its fiscal second-quarter net income fell to $37.2 million, or 30 cents a share, from a net income of $47.1 million, or 35 cents a share, in the same quarter last year. Revenue increased to $1.24 billion from $1.12 billion a year earlier, said the nation's largest retailer of pet goods. Comparable store sales, a key retailing metric, rose 4% from a year ago. Analysts surveyed by FactSet Research had forecast the company to earn 29 cents a share on revenue of $1.22 billion. The company expects third-quarter earnings of 25 cents to 29 cents a share with comparable stores sales growth of mid-single digits. Analysts are forecasting the company to earn 27 cents a share in the third quarter. In 2008, the company is projecting earnings of $1.51 to $1.59 a share while sales are likely to rise by high single digits to low double digits. Same-store sales are expected to expand by mid-single digits.
Copyright © 2008 MarketWatch, Inc.
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