ZTS beat EPS by $0.045 but missed on Revs (0.75%), then announce $300M cost savings initiative through 2017, and last announce $400M-$500M write-off of Venezuela business.
A bit disappointing, cold justify the weakness of the stock,Revs were essentially flat YoY (1Q) for 2 straight years and now the emphasis is on cost cutting for the next two years...
It will be difficult to hold these levels if no M&a.