Several major U.S. indices declined Thursday as utilities gained 0.9% and consumer discretionary stocks fell 0.5%. The S&P 500 Index lost 0.1%, the Dow Jones Industrial Average gained 0.2% and the Nasdaq Composite lost 0.5%.
Aspen Group Inc (NASDAQ:ASPU) and Oracle Corporation (NYSE:ORCL) posted their quarterly earnings data Thursday, while the sale of Genworth Financial Inc (NYSE:GNW) cleared a regulatory hurdle.
Here’s what you should know:
Aspen Group Inc (ASPU)
Aspen Group posted its quarterly earnings results late yesterday.
The company unveiled first-quarter earnings at a loss of $767,079, which was wider than the year-ago loss of $505,447. On a non-GAAP basis, the company earned $55,178.
Revenue was higher at $4.24 million, marking a year-over-year increase of 54%. The school’s total active student body grew year-over-year from 3,252 to 5,015, a 54% increase.
Aspen’s School of Nursing added 1,425 students, accounting for 81% of the growth.
About 54% of the company’s faculty hold doctoral degrees.
ASPU stock grew 3.9% after the bell Thursday.
Genworth Financial Inc (GNW)
Genworth Financial is one step closer to being sold.
A China-based company called China Oceanwide Holdings Group Co. Ltd. has been in talks with Genworth over an acquisition, which has now cleared a regulatory hurdle in Virginia.
The Virginia State Corporation Commission Bureau of Insurance gave the green light for the proposed deal. Genworth announced back in October that China Oceanwide had agreed to acquire it for $2.7 billion.
The Beijing-based company trades privately. Genworth shareholders approved the deal in March, but U.S. and foreign government regulatory agencies have been reviewing the acquisition extensively.
GNW shares popped 8% after hours yesterday.
Oracle Corporation (ORCL)
Oracle shares took a hit on the company’s quarterly earnings results.
The tech company beat earnings estimates as it reported profit of 62 cents per share, compared with Wall Street’s consensus estimate of 60 cents per share for its first quarter of fiscal 2018.
Oracle posted revenue of $9.2 billion for the period, which was higher than analysts’ projections of $9.02 billion, according to data compiled by Thomson Reuters. The figure was 7% higher than the year-ago period.
However, the company’s guidance underwhelmed as Oracle is expected to earn 64 to 68 cents per share, while revenue is slated revenue to grow 2% to 4%. Analysts are calling for earnings of 68 cents per share on $9.49 billion in revenue for the company’s second quarter.
The company’s new software license revenue was weaker in its first quarter, falling 6% year-over-year. The figure managed to beat the consensus estimate, according to FactSet.
ORCL stock fell 4.3% after Thursday’s market close.
