Jana Partners Has Its Way With PetSmart; Adds RAX, HTZ

The third quarter appeared to be one of mixed emotions for Barry Rosenstein’s Jana Partners. While he was able to get closer to notching another activist scalp on his bedpost with PetSmart, Inc. (NASDAQ:PETM), he was also bedeviled by what he calls idiosyncratic events at Walgreen Company (NYSE:WAG)’s and Civeo Corp (NYSE:CVEO), where he has chosen to take decisive action on the board as a result. The fund also entered into several new positions in firms such as McDonald’s Corporation (NYSE:MCD), Rackspace Hosting, Inc. (NYSE:RAX) and Hertz Global Holdings, Inc. (NYSE:HTZ). Jana Partners down 2.7% in 3Q Jana Partners had…