Here are some of the top trending tickers on this sultry trading day on Wall Street:
The maker of chips that fuel touchscreen devices from Blackberry (BBRY) and Samsung (SSNLF) upped guidance for the current quarter. It now sees revenue growth of 66% year-over-year and margins of better than 50% for the period ending June 30. Shares have been on a roll adding over 40% over the last year.
Five Below (FIVE)
The pre-teen retailer is taking another shot at a secondary offering it pulled just last week citing market conditions. The company now says insiders will sell 6 million shares at $36. Five Below will get none of the proceeds.
For the record the S&P500 (^GSPC) is more than 1.5% lower than it was when Five Below management thought the market was too volatile for a secondary.
Apollo Group (APOL)
For-profit education company Apollo is getting smacked again. The parent company of the University of Pheonix reported earnings that beat expectations but warned on almost every other metric. Most disturbingly for shareholders was a 24.5% decline in enrollment year-over-year.
APOL shareholders have been burned to a crisp over the last 52-weeks with shares falling 50%. Formerly a high-flyer, shares of Apollo have plunged from over $95 in 2004 to under $18 today. If the company is going to rise from the ashes the recovery can't happen soon enough for long-suffering investors.
- Investment & Company Information