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Shares of Angie's List, ITT skyrocket after reports

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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.

 

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  1. The east side does have potential...and I have always thought Washington Scare should become an outlet mall. Anyone remember how popular Eastgate was? Well, Indy has no outlet malls, we have to go to Edinburgh for the deep discounts and I don't understand why. Jim is right. We need a few good eastsiders interested in actually making some noise and trying to change the commerce, culture and stereotypes of the East side. Irvington is very progressive and making great strides, why can't the far east side ride on their coat tails to make some changes?

  2. Boston.com has an article from 2010 where they talk about how Interactions moved to Massachusetts in the year prior. http://www.boston.com/business/technology/innoeco/2010/07/interactions_banks_63_million.html The article includes a link back to that Inside Indiana Business press release I linked to earlier, snarkily noting, "Guess this 2006 plan to create 200-plus new jobs in Indiana didn't exactly work out."

  3. I live on the east side and I have read all your comments. a local paper just did an article on Washington square mall with just as many comments and concerns. I am not sure if they are still around, but there was an east side coalition with good intentions to do good things on the east side. And there is a facebook post that called my eastside indy with many old members of the eastside who voice concerns about the east side of the city. We need to come together and not just complain and moan, but come up with actual concrete solutions, because what Dal said is very very true- the eastside could be a goldmine in the right hands. But if anyone is going damn, and change things, it is us eastside residents

  4. Please go back re-read your economics text book and the fine print on the February 2014 CBO report. A minimum wage increase has never resulted in a net job loss...

  5. The GOP at the Statehouse is more interested in PR to keep their majority, than using it to get anything good actually done. The State continues its downward spiral.

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