Avon ATTEMPTING SEC Resolution and 4 Stocks Falling to 52-Week Lows
Asia Entertainment (NASDAQ:AERL) announced that beginning on September 1, the company will change its remuneration model to a revenue sharing model for all of its VIP rooms. All AERL VIP rooms are beneath a fixed commission model of 1.25 percent of Rolling Chip Turnover. The company thinks it can gain commission of more than 1.30 percent of Rolling Chip Turnover, and in addition, have the ability to negotiate on additional allowances and other incentives. Also, the shift opens up the possibility for AERL to enter into agreements for the establishment of VIP rooms at other casinos in Macau which do not allow for a fixed commission. Shares have traded in a 52-week range of $2.84 to $10.49.
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Avon Products (NYSE:AVP) disclosed in a regulatory filing that it is in discussions with the SEC and DOJ concerning the mutual resolution to the government investigations. The company added that it is not able to predict the developments in, results of, or consequences of the internal investigations, compliance reviews, and government investigations. Shares have traded in a 52-week range of $14.89 to $25.10.
Career Education Cor (NASDAQ:CECO) disclosed in a regulatory filing last night that it is currently assembling the requested information for the Accrediting Commission of Career Schools and Colleges, or ACCSC, which is due no later than September 7 for review at the November 2012 ACCSC meeting. Career Education stated that during the pendency of the ACCSC show-cause directive, its ten institutions could face an ACCSC restriction on any new programs or campuses. The company also stated, “We cannot predict with certainty the outcome of these accreditation actions and any other matter that may arise relating to requests for additional information received by the Company from various regulators pertaining to its historical placement determination practices and the now-vacated show-cause directive from ACICS or the pending ACCSC show-cause directive.” Shares have traded in a 52-week range of $4.52 to $22.10.
Dolan Company (NYSE:DM) reduces its 2012 revenue view to $265 million to $278 million, consensus $288.19 million. The company’s previous view was an EPS of 68c-84c on revenue of $290 million $300 million. Shares have traded in a 52-week range of $4.75 to $10.87.
E-House [China] Hold (NYSE:EJ): The NYSE Euronext announced that it intends to cancel particular trades in six securities after the days trading problems. The six securities are: Wizard Software Corp. (AMEX:WZE), China Cord Blood (NYSE:CO), Reaves Utility Income Fund (AMEX:UTG), E-House (NASDAQ:CHINA) Holdings (NYSE:EJ), American Reprographics (NYSE:ARC) and Qicksilver Resources (NYSE:KWK), according to the Wall Street Journal. The shares closed at $4.38, down $0.33 or 7.01% on the day. They have traded in a 52-week range of $4.02 to $8.95.
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