Stock Sparks Rallying on Rosy Data: New Oriental Education & Technology Group (NYSE:EDU), Xerox Corporation (NYSE:XRX)

New Oriental Education & Technology Group Inc. (NYSE:EDU) [Trend Analysis] retains strong position in active trade, as shares scoring -14.27% to $42.00 in a active trade session, while looking at the shares volume, about 15.44 Million shares have changed hands in this session. A global investor rights law firm, Surgedn Law Firm released that it is investigating potential securities claims on behalf of shareholders of New Oriental Education & Technology Group Inc. (EDU) resulting from allegations that New Oriental may have issued materially misleading business information to the investing public. On December 2, 2016, Reuters published an article revealing that New Oriental has been blamed of engaging in college application fraud.

The article stated that “[e]ight former and current New Oriental employees…told Reuters the firms have engaged in college application fraud, comprising writing application essays and teacher recommendations, and falsifying high school transcripts.” Shortly therefollowing on the same day, Reuters published an article announcing that in the wake of its earlier report detailing allegations of academic fraud at New Oriental, the American International Recruitment Council (“AIRC”) stated that it “will investigate the firm in response to the report”, and the AIRC’s president-elect called the allegations “highly concerning.” The firm has institutional ownership of 86.30%, while insider ownership included 0.20%. EDU attains analyst recommendation of 1.90 with week’s performance of -18.54%. Investors looking additional ahead will note that the Price to next year’s EPS is 27.73%.

Shares of Xerox Corporation (NYSE:XRX) [Trend Analysis] swings enthusiastically in regular trading session, it surge of of 0.53% to close at $9.50. Khang & Khang LLP released that a class action court case against Xerox Corporation (XRX). Investors who purchased or otherwise takeoverd shares among April 23, 2012 and October 23, 2015 inclusive, are encouraged to contact the Firm in advance of the December 23, 2016 lead plaintiff motion deadline.

The complaint alleges that during the Class Period, Xerox repeatedly touted its new software product, Health Enterprise, as an important growth area for the Firm, which would operate at low cost and high profit margin. The Firm’s statements pertaining to the profitability and growth prospects of the Health Enterprise business were materially false and misleading because Xerox failed to disclose: that the Firm’s existing Health Enterprise projects were experiencing major delays and cost overruns; that Xerox would be unable to deliver Health Enterprise implementations at sustainable profits; and that as a result of the above, the Firm’s statements about its business, operations, and prospects lacked a reasonable basis.

On October 26, 2015, Xerox released its third quarter 2015 financial results which were disappointing due to costs associated with the implementation of Health Enterprise and the termination of Health Enterprise contracts with the state agencies of California and Montana. Moving forward to saw long-term intention, the experts calculate Return on Investment of 3.70%. The stock is going forward its fifty-two week low with 14.74% and lagging behind from its 52-week high price with -15.20%. XRX last month stock price volatility remained 1.91%.

 

About Gerard Bergeron

Gerard Bergeron covers Bio-pharmacy or healthcare sector Press Releases news updates. He has extensive three year of experience in content writing as freelance writer. He performs analysis of Healthcare Companies and provides worthy information for investor community. He is an experienced writer with a precise grasp of the English language and a clear, compelling writing style.

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