PEET had a big day on Wednesday, trading up over 10% to finish the session at $32.27 after reporting better than expected Q1 earnings results. Volume was heavy after the report, with over 460k shares traded, compared to a normal daily average volume of just over 100k shares. The company reported a Q1 profit of 16 cents per share, far ahead of Wall Street Estimates of 2 cents per share. ThinkEquity reiterated their Buy on the company after the report and raised their fiscal 2006 earnings projections by 2 cents to 65 cents per share. As of Wednesday’s close, PEET had a market cap of just under $450 million dollars.
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