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New Oriental Education (EDU) fires off a 14.5% premarket gain after Oppenheimer takes its rating...

  • Monday, October 15, 2012, 9:15 AM ET
    New Oriental Education (EDU) fires off a 14.5% premarket gain after Oppenheimer takes its rating on the name up to Outperform. Shares have now recovered more than half the ground lost since a SEC investigation and an attack from Muddy Waters drove them to single digits earlier in the year.
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    Also important - on Friday, EDU filed their 20-F with financials signed off by Deloitte Touche. Also stated in the filing that the SEC had no issues with their accounting of the VIE. These were the catalysts + muddy waters - that drove the stock down in the first place.
    15 Oct 2012, 09:37 AM Reply Like
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