Sale rumors sent shares of Pall Corporation surging. According to reports, the maker of filtration systems is near the end of an auction, which could see it sold for more than $10 billion. The potential buyers could include Danaher and Thermo Fisher Scientific. Shares popped 19 percent to $118.62.
More troubles for Lumber Liquidators. The flooring retailer that’s already facing lawsuits and investigations over allegations of high levels of formaldehyde in some of its products. Now the company’s insurance carriers are refusing coverage for the debacle. Shares fell five percent to $26.60.
ITT Educational Services
The securities and exchange commission has announced fraud charges against the CEO and CFO of ITT Educational Services. The SEC says those two heads of the for-profit college concealed the poor performance of some student loans, which were guaranteed financially by the company from investors. Shares plunged 43 percent to $2.27.
Investors got a chance to react today to news that Gap’s same store sales tumbled in April. The retailer saying the stronger dollar is hurting its revenue. Shares fell almost four percent to $38.36.