Shares of Corinthian Colleges Inc. ticked higher Wednesday following the previous day’s selloff, which came after the for-profit education company posted a fiscal fourth-quarter loss.
Its stock gained 82 cents, or 6.3 percent, to $13.91 in afternoon trading Wednesday. In the previous session, the stock lost $3.12, or 19.2 percent, to $13.09. It has ranged from $6.45 to $18.25 over the past year, and is off 15 percent since year-to-date.
Corinthian said its loss for the quarter ended June 30 narrowed to $620,000, or a penny per share, from a loss of $8.8 million, or 10 cents per share, in the same quarter a year ago. Its adjusted earnings of 11 cents per share topped analysts’ target by 2 cents, and Corinthian’s full-year forecast was better-than expected. Read full story.