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Stock Market & Financial Investment News

News Breaks
March 28, 2013
14:32 EDTAPOLCarnegie Learning awarded $1.4M contract from ADL
Carnegie Learning, a wholly owned subsidiary of Apollo Group (APOL), has received a two-year $1.4M contract from Advanced Distributed Learning to test how cognitive and non-cognitive factors together affect learning. The ADL laboratories, located in Alexandria, VA and Orlando, FL, prototype and test learning technologies and innovations for the U.S. Department of Defense.
News For APOL From The Last 14 Days
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May 6, 2015
11:56 EDTAPOLZulily plummets to 52-week low after cutting FY15 revenue, EBITDA outlook
Shares of zulily (ZU) are sinking after the e-commerce company cut its fiscal year 2015 revenue and adjusted EBITDA guidance. The company’s second quarter revenue outlook also significantly trailed analysts’ consensus estimates. WHAT'S NEW: Zulily yesterday reported first quarter adjusted earnings per share of 1c and revenue of $306.6M, compared to analysts’ consensus estimates of (3c) and $313.13M, respectively. Gross margin for the quarter increased year over year to 30.1% and adjusted EBITDA increased 66% year over year to $4.4M. The company reported active customers in Q1 of 5M, up 35% year over year. Total orders placed increased to 6.3M for Q1, an increase of 15% year over year, while the average order value was $56.26, an increase of 2% year over year. For the 12 months ended March 29, 86% of orders were placed by customers who had previously purchased from zulily, the company said. Additionally, zulily noted that in Q1, approximately 55% of orders were placed from a mobile device, up from approximately 50% in Q4. WHAT’S NOTABLE: Zulily forecast Q2 revenue of $285M-$300M, well below analysts' consensus estimates of $358.57M. The company also sees Q2 adjusted EBITDA $8M-$12M. The company lowered its FY15 revenue outlook to $1.3B-$1.4B from $1.5B-$1.65B, also significantly below analysts' estimates of $1.56B, and cut its FY15 adjusted EBITDA view to $55M-$70M from $55M-$80M. Capital expenditures, net of tenant improvement allowances, are expected to be between $35M-$40M and will be primarily for fulfillment centers to support growth and drive productivity, the company said. In other notable news, zulily appointed Brian Swartz as senior vice president and Chief Financial Officer, effective June 1. Swartz has served for the last six years as SVP and CFO of Apollo Education (APOL). ANALYST REACTION: Analyst commentary was overwhelmingly negative this morning. Oppenheimer downgraded zulily to Perform from Outperform and thinks there is too much risk to the company's near-term guidance, given the continued downward revisions to its forecasts. Another firm, Stifel, downgraded zulily to Hold from Buy. The firm thinks the company is having more difficulty than it expected with transitioning to a more sustained long-term e-commerce business model. Janney Capital said the firm has "been wrong" about zulily and lowered its fair value estimate on the shares to $13 from $22 after the company's guidance missed expectations. However, the firm maintains its Buy rating on the stock as it continues to see value in the franchise. The firm believes zulily's lowered guidance appears conservative in the second half considering its "significantly easing" order comps. PRICE ACTION: In late morning trading, zulily fell $2.12 or nearly 18% to $9.70 on approximately four times its average daily trading volume. Earlier in the session, the stock hit a fresh 52-week low of $9.09. Including today's pullback, the shares have lost approximately 78% over the past 12 months. OTHERS TO WATCH: Online retailers that compete in the space include Overstock.com (OSTK) and Amazon.com (AMZN).
May 5, 2015
16:42 EDTAPOLzulily names Brian Swartz as CFO, effective June 1
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April 28, 2015
17:02 EDTAPOLApollo Education CFO departs, Joseph D’Amico named interim CFO
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