Strayer Education Inc’s (NASDAQ:STRA) net income for the quarter to June fell to $21.2 million or $1.85 a share, coming just below analyst expectations though new student signs-ups were up 9 percent, the company said announcing its second quarter results on Thursday.
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Strayer shares fell more than 14 percent and were trading at $77.90 in mid-morning trades after having closed at $90.70 on the Nasdaq on Wednesday
Strayer forecast third quarter earnings between 30 and 32 cents a share, lagging analyst expectations of 88 cents a share.
Strayer’s earnings for the June quarter fell 28.8 percent from the year-ago period, while revenues fell 11 percent to $146.3 million. Thomson Reuters data had estimated its earnings at $1.86 a share on revenue of $147.9 million.
Shares of NovaGold Resources Inc. (USA)(AMEX:NG) nose-dived in Thursday morning trades after peer Barrick Gold (NYSE:ABX) said in a release that the Donlin Gold project did not meet its investment criteria. NovaGold has a 50 percent stake in the Donlin Gold project.
NovaGold was trading down 20.82 percent at $4.26 at 11.45 a.m. after having fallen 30 percent earlier.
Barrick had said Donlin Gold project’s large initial capital outlay was outside the scope of its disciplined capital allocation framework. “We would not make a decision to construct them at this time."