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Stock Market & Financial Investment News

News Breaks
March 4, 2013
14:43 EDTCOCO, LOPE, BPI, CECO, LINC, ESI, EDMC, APEI, DV, NAUH, STRA, APOLFor-profit education stocks sink after Senate Democrats propose crackdown
Shares of for-profit education companies are sinking after Senate Democrats proposed a bill that would strengthen the Department of Education's oversight of these companies. The legislation would require the department to conduct reviews of colleges that are spending more than 20% of their revenue on recruiting and marketing and obtain more than 85% of their revenue from federal student aid programs, according to a summary of the bill posted on the website of Democratic Senator Frank Lautenberg. The reviews would assess several areas, including the schools' use of incentive compensation, graduation rates, and misuse of federal funds, the summary added. In a note to investors earlier today, BMO Capital wrote that it believes the bill is unlikely to become law, and that the sell-off in the sector is "a bit severe." However, the firm added that it does understand why investors are concerned about the legislation. In mid-afternoon trading, Apollo Group (APOL) fell 3.4% to $16.08, Career Education (CECO) slid 9.3% to $2.72, Strayer (STRA) dropped 4% to $46.86, ITT Educational (ESI) tumbled 7% to $12.60 and DeVry (DV) declined 1.2% to $29.63.
News For APEI;CECO;APOL;EDMC;BPI;STRA;ESI;LOPE;NAUH;LINC;COCO;DV From The Last 14 Days
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December 19, 2014
06:53 EDTAPEI, LOPE, ESI, DV, STRA, COCO, CECO, APOL, BPIWhitie House unveils college ratings blueprint, Reuters says
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December 18, 2014
16:18 EDTLINCLincoln Educational names Brian Meyers as CFO, effective January 1, 2015
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16:10 EDTCECOCareer Education intends to divest Le Cordon Bleu Colleges of Culinary Arts
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08:01 EDTDVDeVry to acquire Faculdade Ideal , terms not disclosed
DeVry Education Group announced that DeVry Brasil has entered into an agreement to acquire Faculdade Ideal. Located in Belém, Pará in northern Brazil, Faci currently serves approximately 2,500 students and offers undergraduate programs in high-demand career fields such as law, education, accounting, technology and engineering. The transaction is expected to be completed in the third quarter of fiscal 2015. -
December 16, 2014
14:19 EDTDVDeVry Brasil to acquire Damásio Educacional
DeVry Education Group announced that DeVry Brasil has signed a definitive agreement to acquire Damásio Educacional. Completion of the transaction is expected to occur February 2015, subject to all regulatory approvals. Damásio is a leader in bar exam test preparation and a high quality provider of undergraduate and graduate law programs. Damásio is expected to generate approximately $50 million in revenue in calendar year 2014. DeVry Group expects Damásio to be modestly accretive to earnings per share in fiscal 2015 and increasing thereafter.
08:54 EDTEDMCEducation Management says court denied motion filed by Marblegate
Education Management announced that the U.S. District Court for the Southern District of New York has denied the motion filed by Marblegate Asset Management and Magnolia Road Capital seeking to preliminarily enjoin the company from consummating its proposed debt restructuring. The court denied the injunction based on, among other things, the balance of equities and the public interest. The court also concluded on a preliminary basis that the plaintiffs are likely to succeed on the claim they have asserted under the Trust Indenture Act. The company respectfully disagrees with that aspect of the opinion and, based on the court's order, plans to move forward promptly with the restructuring.

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