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Stock Market & Financial Investment News

News Breaks
March 14, 2014
06:35 EDTAPEI, DV, CECO, STRA, ESI, COCO, LOPE, BPI, APOL20% of for-profit education programs would fail new rule, Inside Higher Ed says
The White House last night released new proposed gainful employment regulations for career training programs at for-profit colleges to a limited number of news organizations that have not yet disclosed the details of the rule, according to Inside Higher Education. The "overall structure" of the proposed regulations appears to be the same as a draft version the Department of Education released in December, the website stated. About 20% of for-profit education programs would fail to meet the standards in the regulations, and another 10% would be in a warning zone, the website quoted Education Secretary Arne Duncan as saying. The gainful employment regulations are supposed to limit the amount of debt that students hold. The full version of the regulations is expected to be released to the public today at 7 AM ET, the website stated. Publicly traded companies in the space 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 From The Last 14 Days
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August 26, 2014
07:25 EDTCOCO, ESIITT Educational has negative read through from Corinthian, says Wells Fargo
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August 25, 2014
17:55 EDTCOCOCorinthian Colleges says need to obtain additional sources of liquidity
In a regulatory filing, Corinthian Colleges disclosed that the company has entered into a Consent and Amendment No. 4 to Credit Agreement, dated as of August 19, by and among the company, Everest Colleges Canada, the Guarantors party thereto, the Lenders party thereto and Bank of America, as Domestic Administrative Agent and Canadian Agent...As previously reported by the company, the company has been, and is, seeking additional sources of liquidity through, among other things, asset sales. On August 20, the company sold to an unrelated third party, on a non-recourse basis, after conducting a bid process, a portfolio of student loans for approximately $19M. The company’s decision to sell certain of its student loans which it had previously intended to hold for investment resulted in a change in the accounting treatment for such loans from “held for investment” to “held for sale.” the company concluded on August 19 that an impairment charge is required of approximately $55M to $59M. The company expects to include the impairment charge in its consolidated financial statements for the fiscal year ended June 30...Additionally, the CFPB requested certain documents relating to a recently-completed sale of student notes and certain information relating to the student loans that the company continues to hold and any private lending arrangements to which the company is currently a party...The company added that Corinthian Colleges continues to need to obtain additional sources of liquidity to fund its operations and to implement the agreements contemplated by the Operating Agreement. To do so, the company will continue to seek additional sources of liquidity through new financings, additional cost reductions, accelerated asset sales or some combination thereof. There can be no assurance that the company will be able to obtain any such additional needed liquidity on a timely basis, on terms acceptable to it, or at all. Any withholding of Title IV funds by ED, or further restrictions on funding or operations by accrediting agencies, state agencies, or other funding sources would exacerbate the company’s existing liquidity constraints.
08:52 EDTESIITT Educational volatility elevated into Q2 and outlook
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07:23 EDTLOPE, ESI, DV, APEI, COCO, CECO, BPI, APOL, STRAGovernment not looking to push other colleges out of business, says Wells Fargo
In the wake of Corinthian Colleges' (COCO) dissolution due to actions taken by the Department of Education, Wells Fargo thinks the government did not intend for this scenario to unfold. After speaking with unnamed "knowledgeable sources" about the issue, the firm does not expect the department to take similar actions in the future because doing so would create too much of a workload for the department, Wells believes. Publicly traded companies in the space include American Public Education (APEI), Apollo Education (APOL), Bridgepoint Education (BPI), Career Education (CECO), Corinthian Colleges (COCO), DeVry (DV), Grand Canyon (LOPE), ITT Educational (ESI) and Strayer (STRA).
August 19, 2014
15:12 EDTAPOLApollo Education management to meet with Piper Jaffray
Meeting to be held in Los Angeles on August 21 hosted by Piper Jaffray.

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