Stonegate shares shellacked after third-quarter loss
Shares of Stonegate Mortgage Corp. sank 18 percent in trading Thursday after the firm reported third-quarter losses of $1.7 million and missed Wall Street estimates by a wide margin.
Public Companies
Articles
Target to close Castleton store
Eleven underperforming locations in all will be eliminated by the Minneapolis-based retailer, it announced late Tuesday.
Job cuts to hit Rolls-Royce operations in Indianapolis
The global firm is planning 2,600 job cuts over 18 months, primarily in its aerospace division. Its Indianapolis operations, which employ about 4,500 people, are devoted mostly to civil and defense aerospace work.
Duke Realty reports higher profit, revenue for third quarter
The real estate developer of commercial properties posted increases due to higher occupancy and growth in rents.
Cummins shares get spark from strong third quarter
The Columbus-based manufacturer of heavy-duty engines saw profit jump 19 percent on stronger sales in North America and abroad.
Zimmer profit beats forecasts, shares rise 4 percent
Shares of Warsaw-based orthopedic device maker Zimmer Holdings Inc. have doubled the performance of the S&P 500 so far this year.
Simon profit dips but outlook improves
Simon Property Group Inc. on Wednesday said its third-quarter profit fell due to recent costs related to refinancing its debt, but that otherwise performance for the quarter was strong.
IU says Stonegate CEO did not earn Kelley degree
The CEO of Indianapolis-based Stonegate Mortgage Corp., one of the nation’s fastest-growing publicly traded mortgage companies, did not earn a degree from Indiana University as his company profile claims.
UPDATE: Angie’s suitors could include Amazon, Yelp, IAC
Amazon has been developing its own local services marketplace. Yelp is the leading consumer-review service in the retail space. Website Holding company IAC, meanwhile, has a big stash of cash and owns competitor HomeAdvisor.com.
Apple: iPhone 6 models break company sales record
Apple says it sold more than 10 million iPhone 6 and 6 Plus models in the three days after the phones went on sale.
S&P 500 sets all-time high in intraday trading
The index breached the 2,000-point barrier soon after markets opened on Monday, nearly hitting 2002 points around noon. The Dow also was near its high watermark.
Struggling Angie’s List lays off 97 salespeople
The consumer-review firm told federal regulators Friday that the move was “part of a focus on improving salesforce performance and productivity.”
Kite shares start trading under 1-for-4 split
Kite Realty Group Trust’s stock fetched $25 on Tuesday, an increase of more than 300 percent from the previous close, after the company’s split took effect.
Noble Roman’s dough rises with higher profit, revenue
The Indianapolis-based franchisor continues to focus on offering take-and-bake pizzas in grocery stores and stand-alone locations to grow revenue.
Baldwin & Lyons’ profit surges on big investment gains
Of the insurer’s $9.3 million in profit in the second quarter, only $4.1 million was attributed to its core operations.
ITT cash crunch has analysts raising spectre of bankruptcy
Carmel-based ITT Educational Services no longer has a margin of error, as it tries to dig out from a scuttled real estate deal, tightened rules from lenders and the feds, and its CEO’s pending resignation.
ITT Educational CEO signals resignation amid stock freefall, federal scrutiny
Carmel-based ITT Educational Services Inc. announced late Monday afternoon that CEO Kevin Modany planned to resign within six months. The struggling for-profit education firm has drawn scrutiny from government officials for its marketing and lending practices.
ITT Educational shares reeling after deal falls through
The real estate deal would have brought as much as $119.1 million for the struggling, Carmel-based education firm.
Allison profit upshifts on North American demand
In its second quarter, the Indianapolis-based manufacturer of transmissions and propulsion systems rode accelerating sales for rugged-duty, student transport, and hydraulic fracturing equipment.
Kite Realty to engineer 1-for-4 reverse stock split
The move will hike the real estate firm’s stock price, combining every four shares into a single share. Kite officials hope a double-digit price will give shares a more stable foundation and an image makeover.