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Stock Market & Financial Investment News

News Breaks
August 5, 2014
07:51 EDTESIITT Educational sell-off overdone, says Wells Fargo
After ITT Educational tumbled 46% on news that its planned sales/leaseback arrangement had fallen through, Wells Fargo thinks the news adds risk to the stock and it lowered its price target on the shares to $26-$29 from $34-$37. However, the firm thinks that the company can meet its obligations without facing a material liquidity crisis and keeps an Outperform rating on the shares.
News For ESI From The Last 14 Days
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March 26, 2015
16:39 EDTESIBlum Capital lowers stake in ITT Educational to 5% from 6.1%
March 18, 2015
07:33 EDTESIITT Educational receives notice from NYSE on late filing status
ITT Educational Services announced that it did not file its Annual Report on Form 10-K for the fiscal year ended December 31, 2014 on or before the due date of March 16, 2015. The company has received a notice from the NYSE that the company is subject to the NYSE's procedures under its timely filing criteria as a result of the company's failure to file the 2014 Form 10-K by the due date. Under NYSE rules, the company has six months from March 16, 2015 to file the 2014 Form 10-K. Until the company files the 2014 Form 10-K and all other periodic reports with subsequent due dates, its common stock will remain listed on the NYSE under the symbol "ESI," with a "LF" indicator to signify late filing status. The company can regain compliance with the NYSE listing standards during the six-month period once it files the 2014 Form 10-K with the SEC, but only if it has also filed all other periodic reports with subsequent due dates. The company is still evaluating the full impact of the consolidation of the 2009 Entity on these matters, and therefore cannot provide any assurance that the consolidation of 2009 Entity will not have a material negative impact on these matters, which could result in a material adverse effect on the company's results of operations, financial condition and/or cash flows. Further, the company did anticipate that it may be in noncompliance with certain covenants under its financing agreement.
March 17, 2015
17:31 EDTESIITT Educational files to delay Form 10-K
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