Consumer stocks were higher this afternoon with shares of
consumer staples companies in the S&P 500 climbing about 0.5%.
Shares of consumer discretionary firms in the S&P 500 were up
In company news, ITT Educational Services (
) plunged Monday after today disclosing College Portfolio Buyer LLC
has terminated a proposed sale-leaseback transaction of 24
properties owned by the for-profit educator when ESI refused to
extend negotiations through mid-September.
According to regulatory documents filed today, ESI is now
seeking out alternative potential buyers. It also last week lined
up an additional $18 million in loan guarantees, boosting financing
for a letter of credit to a total of $98 million.
The sale-leaseback would have generated as much as $119.1
million in proceeds for ESI, according to earlier company
ESI shares were down nearly 46% at $7.75 apiece in late trade,
just 5 cents above their session low. The stock has traded within a
52-week range of $9.65 to $45.80 a share, declining almost 65% over
the past 12 months.
In other sector news,
(+) TSRYY, KKR (
) and Rhone Capital boost non-binding buyout offer by 50 cents to
$5.20 per share in cash.
(-) KORS, Fiscal Q2 EPS outlook trails estimates by at least
$0.02 per share. Revenue guidance lags Street by at least $580,000.
Q1 EPS beats by $0.10, revenue also tops Street. Raises FY15 EPS
guidance by $0.15, topping estimates by at least $0.04.
Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.