Losing Sheen: Apollo Education Group Inc (APOL), Infinity Pharmaceuticals Inc. (INFI), And Vitamin Shoppe Inc (VSI)
New York, NY – GDP INSIDER – 01/09/2014.
Shares of for-profit education provider, Apollo Education Group Inc (NASDAQ:APOL), fell following its tepid 1Q2015 financial results and weak fiscal 2015 outlook. The company reported that its adjusted earnings declined more than 58% from the same quarter in the previous year. Revenue of $719.1 million fell short of the consensus estimate of $728 million and also missed the company’s own guidance of $720-$730 million. Additionally, revenue fell 15.2% from the previous year.
Apollo Education Group Inc (NASDAQ:APOL)’s downbeat 1Q earnings were attributed to a number of negative factors that included lower revenue and higher taxes.
The company slashed its fiscal 2015 top-line expectation to a range of $2.74-$2.80 billion. It originally forecast revenue in the range of $2.80-$2.85 billion. Apollo Education Group Inc (NASDAQ:APOL) also reduced its adjusted operating income outlook to between $250 and $290 million, yet it originally guided the column in the range of $300-$325 million.
Infinity Pharmaceuticals Inc. (NASDAQ:INFI) found itself among the top losing stocks following the failure of its lead drug, duvelisib, in a crucial test. The drug failed in a trial that sought to assess its performance in combating a condition known as rheumatoid arthritis, which affects more than 1.5 million people in the U.S. alone. Infinity Pharmaceuticals announced it would stop testing the drug for the indication following the failed study.
Duvelisib, the drug that failed a test for treatment rheumatoid arthritis, had previously also failed in another trial for allergic asthma.
Although Infinity Pharmaceuticals Inc. (NASDAQ:INFI) hinted at plans to abandon further test of duvelisib for rheumatoid arthritis, the company said the drug would still be test for various forms of blood cancer.
Vitamin Shoppe Inc (NYSE:VSI) received a bearish analyst research report that triggered a sell-off in its stock. Analysts at Bank of America Corp (NYSE:BAC) lost favor with the nutritional supplements company and downgraded it to “Underperform” from “Neutral”.
Meanwhile, Vitamin Shoppe Inc (NYSE:VSI) opened its first store location in Lancaster Country near Park City Center, another clear show that the company expects to boost its revenue stream. The company has store locations in the U.S., Canada and Panama.
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