IBJNews

Shares of Angie's List, ITT skyrocket after reports

Back to TopCommentsE-mailPrintBookmark and Share

In the heart of a mediocre earnings season for public companies, Indianapolis-based firms Angie’s List Inc. and ITT Educational Services Inc. on Thursday rode better-than-expected numbers for the first quarter to the top of the stock ticker.

Shares of Angie’s List rocketed 28.9 percent, to $25.92 each, during trading on Thursday, after its first-quarter financial report released late Wednesday trumpeted a 68-percent increase in revenue. Even though the online consumer-review service turned in another money-losing quarter, it brought in $52.2 million in revenue, compared with $31.1 million in the same quarter of last year.

ITT Educational, which has been on a steady decline since a high of $125-plus in 2009, bounced back in a big way on Thursday as shares rose 30.5 percent, to $20. The for-profit education firm had recently hit a 52-week low of $11.69 per share.

The firm actually saw profit and revenue drop dramatically in the first quarter as student enrollment continued to decline. But its performance still exceeded the expectations of analysts, leading to a rebound in its shares.

The Carmel-based company said Thursday morning that it earned $31.1 million, or $1.33 per share, in the latest quarter, down 49 percent from the same period a year earlier. Revenue fell nearly 16 percent, to $287.7 million.

The boost in Angie’s List shares also came under unlikely conditions: a loss of $7.9 million, or 14 cents per share, for the three months ended March 31.  Again, however, the firm benefitted from even worse expectations, as analysts predicted a loss of 17 cents per share.

The Dow Jones industrial average rose as much as 91 points on Thursday before giving up most of that gain late in the day. Investors were underwhelmed by what turned out to be a mixed bag on earnings. The Dow closed up 24.50 points, or 0.2 percent, to 14,700.80. The Standard & Poor's 500 index rose 6.37 points, or 0.4 percent, to 1,585.16.

 

ADVERTISEMENT

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
  1. If I were a developer I would be looking at the Fountain Square and Fletcher Place neighborhoods instead of Broad Ripple. I would avoid the dysfunctional BRVA with all of their headaches. It's like deciding between a Blackberry or an iPhone 5s smartphone. BR is greatly in need of updates. It has become stale and outdated. Whereas Fountain Square, Fletcher Place and Mass Ave have become the "new" Broad Ripples. Every time I see people on the strip in BR on the weekend I want to ask them, "How is it you are not familiar with Fountain Square or Mass Ave? You have choices and you choose BR?" Long vacant storefronts like the old Scholar's Inn Bake House and ZA, both on prominent corners, hurt the village's image. Many business on the strip could use updated facades. Cigarette butt covered sidewalks and graffiti covered walls don't help either. The whole strip just looks like it needs to be power washed. I know there is more to the BRV than the 700-1100 blocks of Broad Ripple Ave, but that is what people see when they think of BR. It will always be a nice place live, but is quickly becoming a not-so-nice place to visit.

  2. I sure hope so and would gladly join a law suit against them. They flat out rob people and their little punk scam artist telephone losers actually enjoy it. I would love to run into one of them some day!!

  3. Biggest scam ever!! Took 307 out of my bank ac count. Never received a single call! They prey on new small business and flat out rob them! Do not sign up with these thieves. I filed a complaint with the ftc. I suggest doing the same ic they robbed you too.

  4. Woohoo! We're #200!!! Absolutely disgusting. Bring on the congestion. Indianapolis NEEDS it.

  5. So Westfield invested about $30M in developing Grand Park and attendance to date is good enough that local hotel can't meet the demand. Carmel invested $180M in the Palladium - which generates zero hotel demand for its casino acts. Which Mayor made the better decision?

ADVERTISEMENT