New York & Company (NYSE:NWY) posted first quarter net sales of $237 million, as compared to $232.9 million for the first quarter of fiscal year 2009.
Net loss remained flat compared to last year at $4.9 million, or $0.08 per diluted share.
The company expects gross margins for the second quarter to decline from the prior year’s levels. Given current business trends, New York & Co. expects promotional activity to accelerate and now expects a loss per diluted share for the second quarter of fiscal year 2010 to be greater than the year-ago period.
Shares of New York & Company are down 24.5%.
Wabash National Corporation (NYSE:WNC) announced that it intends to offer 11 million shares of its common stock and a selling stockholder, Trailer Investments, LLC, intends to offer 12.5 million shares of common stock in an underwritten public offering. Morgan Stanley (MS) is acting as the book-running manager for the offering.
On the news, Wabash shares are down 16%.
The Bank of Ireland (NYSE:IRE) is seeing their shares down more than 17.5% in New York on announcement of a shareholder approval of a capital raise.
Kodiak Oil & Gas (NYSE:KOG) is trading down almost 13% today as crude oil is 6.25% lower on the NYMEX.
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