10-Year Deal Removes Uncertainty
Pharmacy-benefits company Catamaran announced it won a key 10-year contract with health insurer Cigna. The deal lifts a major cloud of uncertainty over the Canadian company, and CTRX is up 13 percent before the opening bell on my tradeMONSTER platform. (There's been plenty of upside option activity in this name recently as well, folks.)
Lululmemon Drops on CEO Departure
Lululemon Athletica announced that CEO Christine Day will leave the company, and the board has begun the search for a replacement. It also reported better-than-expected quarterly results, but investors are focusing on that leadership question, sending LULU down by 15 percent in early trading.
SEC Probe Sinks Corinthian Colleges
Corinthian Colleges announced it received a subpoena from the United States Securities and Exchange Commission last week. The agency is seeking information relating "to student information in the areas of recruitment, attendance, completion, placement, defaults on federal loans and on alternative loans, as well as compliance with U.S. Department of Education financial requirements, standards and ratios." COCO tanks 14 percent on the news.
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