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Stock Market & Financial Investment News

News Breaks
January 25, 2013
11:05 EDTCOCO, EDMC, LOPE, APOL, NAUH, BPI, DV, APEI, ESI, CECO, STRA, LINCITT Educational retreats though analysts differ on prospects
Several for-profit education stocks are retreating after Citigroup analyst James Samford issued a note on for-profit education company ITT Educational Services (ESI). In a note to investors earlier today, Samford wrote that the rally by the company's stock yesterday was "unwarranted." ITT reported a fourth quarter loss due to write-downs and charges, and the company has still not reserved enough capital to cover the costs of the private student loans it has guaranteed, Samford wrote. ITT confirmed this assessment, the analyst reported. Moreover, the company rolled out new scholarships which are expected to trigger an improvement in its enrollment outlook, but will cause revenue per student and margins to drop significantly, added Samford. Citi reiterated its Sell rating on ITT shares. Conversely, William Blair analyst Brandon Dobell wrote that ITT's losses on student loans it has guaranteed appear to be more limited than some investors had assumed. The company has become more transparent about its loan default outlook, making the stock "more investable," according to Dobell, who maintained an Outperform rating on the shares. In mid-morning trading, ITT Educational tumbled 7.35% to $15.62, Strayer (STRA) sank 3.15% to $54.19, Apollo Group (APOL) dropped 1.75% to $20.20 and Bridgepoint Education (BPI) gave back $1.52% to $10.40.
News For APOL;LINC;APEI;LOPE;STRA;DV;EDMC;CECO;BPI;COCO;ESI;NAUH 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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