Just like that Crocs is buying back shares
Crocs, Inc (CROX) management can't stand the heat of the one day 36% drop in shares so they are buying back shares. The board approved an authorization to repurchase up to 1 million shares of its common stock, effective immediately. Get ready for the bounce Masters, it's coming.
From Reuters - The move came after the company's high-flying stock dropped by more than 36 percent following a disappointing revenue and earnings outlook on Wednesday.
Share repurchases under the authorization may be made in the open market or in privately negotiated transactions, the company said. The repurchase authorization does not have an expiration date.
The Niwot, Colorado-based company, whose vibrantly colored shoes, clogs and boots have become a fad in recent years, reported on Wednesday that its third-quarter profit more than doubled.
But its stock fell 24 percent in after-hours trading that day after giving disappointing 2007 earnings and revenue estimates. On Thursday the stock fell $27.01, or 36.1 percent, to $47.74 on the Nasdaq.
Our Original newsletter that has enlightened our subscribers for over a year. It contains What to Buy, What to Sell, and Market Commentary. We have a 17.5% return since October 2006 and the average wait for a return is only 3.61 months and we have the track record to prove it (click here to view Master Picks track record). We've had great feedback, and in turn have already created a unique following of thousands of Stockmasters. Our asking price is only $45 for a 12 month subscription.
Best of the Blogs
Scanning and identifying the best blog entries every hour
- U.S. Admits Paying Terrorists For Services Rendered In Syria | ZeroHedge
- Defiant Tsipras Addresses Nation, Urges "No" Referendum Vote | ZeroHedge
- Crude Slides After US Oil Rig Count Rises For First Time Since December | ZeroHedge
- BitGold Now Available in US! Why BitGold? | Financial Sense
- Plunge In Export Prices Is Now Worse Than The Great Financial Crisis | ZeroHedge
- Weekend Top 100 | iBankCoin.com
- For The Bookies The Referendum Outcome Is Clear: Paddy Power Pays Out For "Yes" Votes | ZeroHedge
The most relevant financial news and articles from the Internets
- A major flaw in Google's algorithm allegedly tagged two black people's... | Business Insider
- See if you can you spot the subtle ways these tech... | Business Insider
- The Cavaliers are making a $230 million bet that last year's team is... | Business Insider
- Solar Impulse reaches two-thirds of way from Japan to... | Business Insider
- Another study finds that soda is even worse for you than we thought | Business Insider
- EU blocks Greece from bailout talks until after the referendum | Business Insider
- This photo of an 8-year-old girl evacuating her home... | Business Insider