New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
August 4, 2014
16:42 EDTINSM, KORS, ESI, TREX, PDCEOn The Fly: Closing Wrap
Stocks on Wall Street remained near the flat line until about 1 pm ET and then they began to drift higher. The buyers emerged during the afternoon and pushed the averages up ahead of the next round of corporate earnings reports due out after the close. ECONOMIC EVENTS: In the U.S., no major economic data was reported. On the international front, Portugal's central bank announced a bailout of the nation's largest listed lender, Banco Espirito Santo. COMPANY NEWS: Shares of luxury accessories maker Michael Kors (KORS) fell $4.82, or 5.89%, to $77.01 after the company reported stronger than expected results for the first quarter of its fiscal 2015, but said that its gross margins had dropped during the quarter compared to the same period of last year. The company also estimated that its gross margin would drop in fiscal 2015. Analysts were divided on the company's outlook following the results, with Sterne Agee contending that "red flags abound" for the company while Bank of America Merrill Lynch saying that the "impressive momentum" of Michael Kors should continue and that today's pullback in the stock has created a buying opportunity. MAJOR MOVERS: Among the notable gainers was decking product maker Trex (TREX), which advanced $4.33, or 15.1%, to $33.00 after its better than expected earnings. Also higher was PDC Energy (PDCE), which rose $6.63, or 12.34%, to $60.34 after Colorado governor John Hickenlooper struck a deal that will eliminate all ballot initiatives, proposed for November, that had sought to restrict hydraulic fracturing, or "fracking," in the state. Among the noteworthy losers was ITT Educational (ESI), which plunged $6.59, or 46.05%, to $7.72 after the company disclosed that its sale leaseback agreement with College Portfolio Buyer had been terminated. Also lower were shares of Insmed (INSM), with Piper Jaffray attributing today's $4.59, or 26.61%, pullback in its shares to $12.66 to the company not immediately filing for U.S. approval of Arikayce in cystic fibrosis and nontuberculous mycobacteria in concert with its European filing for the drug. INDEXES: The Dow rose 75.91, or 0.46%, to 16,569.28, the Nasdaq advanced 31.25, or 0.72%, to 4,383.89, and the S&P 500 gained 13.84, or 0.72%, to 1,938.99.
News For KORS;PDCE;ESI;INSM;TREX From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
June 30, 2015
17:40 EDTESIITT Educational submits audited consolidated financial statements to DOE
Subscribe for More Information
10:01 EDTPDCEOn The Fly: Analyst Initiation Summary
Subscribe for More Information
09:13 EDTKORSCowen lowers handbag estimates, calls Kate Spade favorite name in space
Subscribe for More Information
07:03 EDTPDCEPDC Energy initiated with a Buy at Canaccord
Subscribe for More Information
June 24, 2015
14:40 EDTESIITT Educational responds to Rohit Chopra letter
Nicole Elam, vice president of government relations and external affairs for ITT Educational Services, issued the following statement in response to a letter from Rohit Chopra, former student loan ombudsman for the Consumer Financial Protection Bureau, to investors dated June 24, 2015: "Putting aside the troubling fact that Mr. Rohit Chopra is attempting to impact investors of a publicly traded company with information he received while in an official capacity at a U.S. governmental agency, his letter is a perfect example of the myopic view pervading some in D.C. regarding taxpaying educational institutions. The fact that he would write such a letter to investors days after leaving the Consumer Financial Protection Bureau trumpeting mere allegations against the company demonstrates a personal bias against our institutions and an unwillingness to allow for due process to work, the cornerstone of the U.S. legal system. Allegations are not facts and we think our investors will not take action based on simple assertions from someone with an ideological axe to grind."
10:40 EDTESIITT Educational says CSAAVE suspension put on hold by judge
ITT Educational issued a public notice, dated June 23, stating that the California State Approving Agency for Veterans Education, a division of the California Department of Veterans Affairs, previously issued a suspension of approval to all 15 California institutions owned and operated by ITT Educational, doing business as ITT Technical Institute. "On June 23, 2015, the Honorable Judge William Claster of the Orange County Superior Court issued an order staying CSAAVE’s suspension of approval of ITT’s courses for enrollment by veteran students, pending the Court’s adjudication of ITT’s petition for peremptory writ of mandate on or after August 21, 2015. While this stay is in effect, CSAAVE’s suspension of ITT’s courses for enrollment by veteran students is lifted...While the suspension is stayed, veterans may enroll at ITT," the company stated in its notice. Reference Link
June 23, 2015
05:59 EDTKORSStocks with implied volatility below IV index mean; DE KORS
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use