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. Yes sir keep cashing those 300K a year checks direct to IMS, while millions disappear from the teams like Rahal's. Guess there wasn't enough ka- ching going around to keep Sarah Fisher in business without their "merger". LOL._____.Meanwhile back in Realville the series with the "best racing in the world" drew what appeared to be about 5000 live spectators ( and probably 1500 of those Target "freebies", and was beaten in the ratings by a series that reportedly consists of "parades" and aired while most people are still sleeping. That will generate those big ka-chings for sure. :-). But, hey, as long as the Speedway gets the cash who gives a damn about the teams?

  2. Welcome to PETERSON LOAN AGENCY Company (A Personalized Service for All Your Financial Needs) We, Liberal Investment Company Providers offers loan at a very low interest rate of 2%, we offer Personal loans, Debt Consolidation Loan, Venture Capital, Business Loan, Educational Loan, Home Loan, and Loan for any reason and urgent needs!. with a maximum duration of 30 years. Have you been turned down by your bank? Do you have bad credit? Do you have unpaid bills? Are you in debt? Do you need to set up a business? Worry no more as we are here to offer you a low interest loan. Our loan ranges from $5,000-USD (Five Thousand US dollars) to $50, 000,000.00.(Fifty Million US dollars). We also lend in USA DOLLARS EURO and POUNDS ! Fill in this form and forward it to our email: PETERSONLOANAGENCY@GMAIL.COM 1. Your Full names:_______ 2. Contact address:_______ 3. Country Of Residence:______ 4. Loan Amount Required:________ 5. Duration:_____ 6. Gender:_____ 7. Occupation:________ 8. Monthly Income:_______ 9. Date Of Birth:________ 10.Telephone Number:________ 11. Purpose of loan:_________ Yours In Service, MR PERRY, PETERSONLOANAGENCY@GMAIL.COM

  3. If I could actually get the prices...I would do this on my own. We need laws that force provides to publish the costs they will charge. Everyone else gives you the price in advance...except hospitals.

  4. I was under the impression that fencing is not allowed on a front yard and that on a corner, both sides are considered "front" yards, therefore can't be fenced without a variance. Also impedes the visibility for drivers at the intersection. Am I understanding this correctly? Might be why a fence was not included in the plans and a request for a variance will have to be made?.

  5. I was a big fan of Cowards and Carrots, which I got a chance to see at the show. It's currently on Kickstarter, but the designer also put out What's He Building in There last year, which got a fair amount of buzz.

ADVERTISEMENT