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February 7, 2013
11:24 EDTAPOL, COCO, LOPE, BPI, CECO, LINC, ESI, EDMC, APEI, DV, NAUH, STRAFor-profit education stocks rally after DeVry beats expectations
For-profit education stocks are climbing after one of the largest companies in the sector, DeVry (DV), reported stronger than expected second quarter results last night. DeVry's earnings excluding one-time items came in at 87c, versus analysts' consensus estimate of 56c. The company's revenue was slightly higher than expected. DeVry said that its costs in the second quarter were below its previous outlook, partly due to the deferral of some expenses into the third quarter. DeVry now expects to reduce its costs by $80M in the current fiscal year, up from its previous total of $60M. Undergraduate enrollment at the company's flagship DeVry University dropped 15.5% for the November 2012 session compared with the same period a year earlier and graduate student enrollment tumbled 16% during the same period. The total number of online undergraduate and graduate coursetakers in the November session decreased 11.7%, the company added. On a positive note, total enrollment at the company's Chamberlain College of Nursing surged 13.5%. In a note to investors earlier today, JPMorgan analyst Jeffrey Volshteyn upgraded his rating on the stock to Neutral from Underwegiht. While DeVry University's enrollment was weak, the company's other schools posted "stellar" results, the analyst wrote, adding that the company's diversification strategy appears to be working. Volshteyn increased his target on the shares to $28 from $22. In late morning trading, Apollo Group (APOL) climbed 3% to $20.60, Strayer (STRA) rallied 5% to $61, Grand Canyon (LOPE) rose 4% to $25.50, and ITT Educational (ESI) soared 7.5% to $18.07. Meanwhile, DeVry shares jumped over 20% to $31.41.
News For APEI;CECO;APOL;EDMC;BPI;STRA;ESI;LOPE;NAUH;LINC;COCO;DV From The Last 14 Days
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July 27, 2015
14:38 EDTLINCHeartland Advisors reports 18.5% passive stake in Lincoln Educational
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July 17, 2015
16:16 EDTBPIWSCUC says Bridgepoint Education unit Ashford makes progress
On July 15 , Ashford University, a wholly owned subsidiary of Bridgepoint Education received an Action Letter from WASC Senior College and University Commission outlining the findings of the WSCUC Special Visit team arising out of its special visit to Ashford University conducted April 8-10. Upon granting initial accreditation to Ashford University in 2013, WSCUC scheduled the special visit to address six issues requiring continued attention. The Action Letter states that the Special Visit team found substantial evidence that Ashford University continues to make sustained progress in all six areas recommended by WSCUC in 2013.

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