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February 26, 2013
10:07 EDTLINC, ESI, EDMC, APEI, DV, NAUH, STRA, APOL, COCO, LOPE, BPI, CECOApollo falls after being placed on probation by accreditor
Apollo Group (APOL) disclosed in a regulatory filing last night that a team appointed by its accreditor had recommended that the company's main university be placed on probation. The team appointed by the Higher Learning Commission, a regional accreditor, recommended that Apollo's University of Phoenix be placed on probation because the school is not in compliance with regulations related to administrative structure and governance, Apollo reported. More specifically, the team found that Apollo has not given the university enough autonomy. In a note to investors earlier today, William Blair analyst Brandon Dobell wrote that he expects the Higher Learning Commission to uphold the findings of its team in June, and place University of Phoenix on probation until fall of 2014. The university will have to prove to the Higher Learning Commission, or HLC, that it has fixed the issues identified by that time, Dobell reported, adding that the university could lose its accreditation if the HLC determines that it is still not in compliance. While the analyst believes that the University of Phoenix's accreditation status will affect Apollo's shares until the university is removed from probation, he thinks it is "extremely unlikely" that the school will lose its accreditation. Dobell maintained a Market Perform rating on Apollo. He noted that the following for-profit education companies have obtained accreditation from the Higher Learning Commission: Bridgepoint (BPI), DeVry (DV), Grand Canyon University (LOPE); American Public University (APEI); Capella University (CPLA); Career Education (CECO); Education Management (EDMC); National American University (NAUH); Corinthian (COCO); and Kaplan (WPO). In early trading, shares of Apollo are down 24c to $17.59.
News For APEI;CECO;APOL;EDMC;BPI;STRA;ESI;LOPE;NAUH;LINC;COCO;DV From The Last 14 Days
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January 26, 2015
08:02 EDTAPOLApollo's Carnegie Learning approved by Texas for high school mathematics
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January 16, 2015
13:25 EDTAPOLManning & Napier Advisors reports 6.44% passive stake in Apollo Education
January 15, 2015
14:45 EDTAPEI, LOPE, ESI, DV, COCO, CECO, BPI, APOL, STRAFor-profit education names slip after Wells says search data negative
Shares of a number of for-profit education companies are falling after Wells Fargo wrote that Google search trends do not bode well for the sector. WHAT'S NEW: Google search trends for the fourth quarter indicate that students' interest in for-profit education companies probably did not increase significantly during that period, Wells Fargo analyst Trace Urdan wrote in a note to investors today. The data indicates that new student enrollment at the schools could even come in below already pessimistic expectations, Urdan reported. The analyst found that searches for terms related to for-profit schools dropped in Q4, versus the same period a year earlier. Moreover, there were many more searches in Q4 for non-profit schools than for-profit colleges, Urdan stated. Sentiment towards for-profit education names is already "quite weak" after President Obama on January 9 proposed allowing all Americans to attend community college at no cost and Apollo Education (APOL) on January 8 provided lower than expected Q2 revenue guidance, Urdan stated. As a result, investors may already be expecting schools in the sector to report weak enrollment data, Urdan believes. However, the search data for Strayer (STRA) is "more negative than positive," even though expectations for the company appear to be elevated, the analyst reported. On a positive note, search results for Capella Education (CPLA), Grand Canyon (LOPE), and DeVry's (DV) Chamberlain looked better than average, Urdan reported, adding that investors' expectations towards those names are relatively upbeat. PRICE ACTION: In mid-afternoon trading, Strayer fell 1% to $68, ITT Educational fell 3.6% to $8.37, Bridgepoint Educational (BPI) tumbled 4.5% to $10.10, American Public (APEI) slid 2.25% to $33.89, and Grand Canyon gave back 2% to $43.
January 14, 2015
10:21 EDTAPOLOptions with decreasing implied volatility
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