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
- THE REAL-LIFE STORY OF A SHORT SELLER IN 2013 | iBankCoin.com
- Note the Weak Ones, Too | iBankCoin.com
- S&P 1666 | ZeroHedge
- Long-Term Breakout | Financial Sense
- Brussels Puts Spain Under Surveillance | Financial Sense
- Daily Market Recap | Financial Sense
- Lame Duck President Good for the Markets | Financial Sense
The most relevant financial news and articles from the Internets
- Friend Of Laurene Powell Jobs: 'The... | Business Insider
- A Photographer Used Her 5-Year-Old Daughter To Recreate Pictures Of Iconic Women | Business Insider
- Laptop Computer Reviews - BusinessWeek | BusinessWeek
- Rail Traffic Continues To Soften | Business Insider
- Johnny Manziel Threw Out A First... | Business Insider
- Which Is America's Best City? | BusinessWeek
- GOOGLE: These Are The Glass Apps We Want (GOOG) | Business Insider