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Stock Market & Financial Investment News

News Breaks
June 9, 2014
14:21 EDTNNI, BPI, ESI, DV, FMD, LOPE, STRA, APEI, SLM, APOL, COCO, CECOObama to seek to ease student debt burden for nearly 5M borrowers
President Obama will sign a new Presidential Memorandum today directing the Secretary of Education to propose regulations that would allow nearly 5M additional federal direct student loan borrowers the opportunity to cap their student loan payments at 10% of their income, the White House stated. The Presidential Memorandum also outlines a series of new executive actions aimed to support federal student loan borrowers, especially for vulnerable borrowers who may be at greater risk of defaulting on their loans, it added. Companies that lend to students include First Marblehead (FMD), Nelnet (NNI), and SLM Corp (SLM). Publicly traded for-profit education companies include American Public Education (APEI), Apollo Education (APOL), Bridgepoint Education (BPI), Career Education (CECO), Corinthian Colleges (COCO), DeVry (DV), Grand Canyon Education (LOPE), ITT Educational (ESI) and Strayer (STRA).Reference Link
News For APEI;DV;CECO;STRA;ESI;COCO;LOPE;BPI;APOL;FMD;NNI;SLM From The Last 14 Days
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May 20, 2015
17:28 EDTESIITT Technical Institutes seeks reinstatement by California veteran's agency
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09:34 EDTSTRASenate Health, Ed, Labor & Pensions Committee to hold a hearing
The Committee holds a hearing entitled, "Reauthorizing the Higher Education Act: Exploring Institutional Risk-Sharing" with Executive Chairman of Strayer Education, Robert Silberman on May 20 at 10 am. Webcast Link
May 18, 2015
17:08 EDTCECOBlum Capital Partners lowers stake in Career Education to 4.9% from 5.8%
10:01 EDTDVOn The Fly: Analyst Downgrade Summary
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10:00 EDTBPIBridgepoint Education management to meet with Barrington
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06:48 EDTDVDeVry downgraded to Hold from Buy at Deutsche Bank
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May 15, 2015
06:04 EDTESIITT Educational implied volatility of 190 at upper end of index
May 14, 2015
16:54 EDTESIITT Educational says SEC case 'will not withstand judicial scrutiny'
ITT Educational disclosed the following in a filing: "On May 12, a complaint was filed by the SEC against ITT Educational Services and its CEO and CFO in the United States District Court for the Southern District of Indiana under the following caption: United States Securities and Exchange Commission v. ITT Educational Services, Inc., Kevin M. Modany and Daniel M. Fitzpatrick. The complaint relates to the matters addressed in the Wells notice that the company previously received and disclosed. The complaint is a civil enforcement action and alleges that the defendants engaged in a fraudulent scheme and course of business and made various false and misleading statements and omissions to defraud the company’s investors. The company was surprised by this action and disappointed that the Commission allowed this matter to go forward despite fundamental flaws in their case. The SEC does not credit the findings of the Audit Committee investigation that disputed key SEC allegations. The SEC ignored the fact that the very auditors that were allegedly 'misled' stayed on as the company’s auditors, even after being informed of the SEC’s allegations, and later delivered an audit opinion. Nowhere in the complaint is there a citation to a document or email that evidenced any intent to deceive anyone. The company believes that the SEC could not do so because there was no intent to deceive. The company believes there are many other major flaws in the SEC’s case. In essence, the company believes this is little more than a “fraud by hindsight” case that will not withstand judicial scrutiny. The company remains of the belief that any perceived shortcomings related to the complex accounting matters involved were acts taken in good faith and are being mischaracterized by the SEC as deception. Nevertheless, the company takes seriously the SEC action and will vigorously defend itself against the unjustified charges. Moreover, the company’s Board of Directors is heightening its oversight of the process leading up to the filing of the company’s late Form 10-K for 2014. It is expected that the Form 10-K with audited financials will be filed in a matter of weeks, though no assurance can be given that the current estimated timetable will be met."
15:46 EDTNNIConsumer agency to investigate loan servicer compensation, LA Times says
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08:16 EDTCECOCareer Education: David Devonshire submits resignation from board due to health
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05:49 EDTESIStocks with implied volatility movement; ESI BRCM
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May 13, 2015
07:29 EDTSLMUBS to hold a conference
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