New User:

Forgot your password?

Stock Market & Financial Investment News

News Breaks
February 28, 2014
12:07 EDTBPI, ESI, DV, LOPE, STRA, APEI, APOL, COCO, CECOFor-profit education companies down after American Public profit miss
Shares of most for-profit education companies are falling after one of the companies in the sector, American Public Education (APEI), reported lower than expected fourth quarter profits, and provided much lower than expected first quarter profit guidance. WHAT'S NEW: American Public Education, which specializes in serving members of the military and public employees, reported Q4 earnings per share of 51c, versus analysts' consensus outlook of 54c. The company reported slightly higher than expected Q4 revenue, but predicted that its Q1 EPS would be 43c-48c, versus the consensus outlook of 67c. The company expects net course registrations by new students at its online university, American Public University System, to fall 7%-9% during the current quarter versus the same period a year earlier. On American Public's earnings conference call, the company noted that several branches of the military had made cuts and/or had implemented new restrictions o tuition assistance programs for their members. Uncertainty about these programs among service members, as well as confusion about eligibility requirements for them, have been at least partly responsible for continued soft demand for American Public's courses among members of the military, the company's CEO Wallace Boston stated. ANALYST REACTION: In a note to investors earlier today, Barrington Research analyst Alexander Paris wrote that American Public's total net registrations during Q4 were below analysts' consensus estimate. The stock's potential in the near-term is limited, as a result of price cuts by the company's competitors, and uncertainties about military funding, wrote Paris. He kept a Market Perform rating on the shares, but sees the company as an attractive long-term investment. PRICE ACTION: In late morning trading, ITT Educational (ESI) dropped 1.3% to $30.63, Strayer (STRA) retreated 1.7% to $48.25, Grand Canyon (LOPE) gave back 1.4% to $47.30, and American Public Education plunged 22% to $36.05. Other publicly traded companies in the space include Apollo Education (APOL), Bridgepoint Education (BPI), Career Education (CECO), Corinthian Colleges (COCO), and DeVry (DV).
Sign up for a free trial to see the rest of the stories you've been missing.
October 9, 2015
10:35 EDTAPOLApollo Education sinks after DoD puts subsidiary on probation
Shares of Apollo Education are sinking after the for-profit education provider disclosed that the U.S. Department of Defense put its University of Phoenix subsidiary on probationary status in respect of its participation in the DoD Tuition Assistance Program for active duty military personnel. The DoD is considering whether to terminate the DoD Voluntary Education Partnership Memorandum of Understanding with the University which is the basis on which the University's active duty military students participate in the DoD Tuition Assistance Program. While on probationary status, currently eligible enrolled students will remain eligible to participate in the Tuition Assistance Program, but newly enrolled or transfer students of the University will not be eligible. In fiscal year 2015, receipts from the DoD Tuition Assistance Program represented less than 1% of University of Phoenix net revenue, and during Q4 approximately 4,000 students received tuition benefits under the program. University of Phoenix currently is reviewing the notice of probation, Apollo stated. The stock is down 10%, or $1.27, to $11.09 in morning trading.
October 7, 2015
14:28 EDTLOPEVan Berkom & Associates reports 5.07% passive stake in Grand Canyon
Subscribe for More Information
October 5, 2015
18:06 EDTAPOLApollo Education promotes Chief Accounting Officer Iverson to CFO
Apollo Education Group announced the promotion of Gregory Iverson to serve as the company's CFO, effective October 26. Iverson succeeds Joseph D'Amico, who has served as interim CFO since May, and will report directly to Apollo Education CEO Gregory Cappelli. Iverson is currently VP of finance, Chief Accounting Officer and treasurer. He began his tenure at Apollo in April 2007 as VP and controller.
October 1, 2015
07:05 EDTBPIBridgepoint Education appoints Kevin Royal as CFO
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the disclaimer & terms of use