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
- EleVader Down for Crude to the Dark Side | iBankCoin.com
- In Uncharted Waters | ZeroHedge
- The Most 'Distrusted' News Sources In America | ZeroHedge
- And The NYSE Breaks... | ZeroHedge
- When Is A White House Transcript Not A Transcript? | ZeroHedge
- Plunging Oil Prices a Game-Changer for Major Pipeline Projects | Financial Sense
- Santelli & Schiff: "A Messy Exit Is A Given... Ending QE Will Plunge US Into Severe Recession" | ZeroHedge
The most relevant financial news and articles from the Internets
- Have People Stopped Upgrading Their iPads? (AAPL) | Business Insider
- Herbalife CEO: We Are At 'War' With Bill Ackman (HLF) | Business Insider
- India suspends future tours to West Indies | Business Insider
- India's forgotten widows defy taboos to celebrate... | Business Insider
- Sweden Is Learning Just How Insanely Difficult It Is To Capture An Enemy... | Business Insider
- 2012 Honda CR-V | BusinessWeek
- Peugeot says sales edge ahead in long haul out of crisis... | Business Insider