Consumer Business Recap: Skullcandy and Career Education in the Spotlight

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Shares of Skullcandy (NASDAQ:SKUL) rip loose following word from a filing that its Principal Accounting Officer Ronald Ross purchased 18,000 of the shares, in total value of approximately $250,000. This move was seen as a vote of post-earnings confidence after a disappointing report. Meanwhile, Morgan Stanley places a price target of $21 on the shares, representing more than a 50 percent premium over the Ross transaction.

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Worsening student enrollment trends have cost Career Education (NASDAQ:CECO) shares have dropped 20 percent year-to-date, but BMO Capital believes that the bottom has been found. The analyst thinks that a further slide has limited room, as Friday’s closing was near CECO’s cash and investments balance, plus the likelihood that the company will generate positive free cash flow and repurchase stock.

Don’t Miss: Career Education Executive Insights: Career Op Loss, Share Buybacks.

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