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Stock Market & Financial Investment News

News Breaks
March 27, 2013
10:08 EDTAPOLApollo falls after Wells Fargo analyst cuts rating
For profit education company Apollo Group (APOL) is falling after a Wells Fargo analyst downgraded the stock, citing what he sees as the company's uncertain outlook. Apollo reported stronger than expected second quarter results on March 25, but its student enrollment was below analysts' consensus estimates. WHAT'S NEW: Wells Fargo analyst Trace Urdan dropped his rating on Apollo to Market Perform from Outperform in a note to clients earlier today. Apollo's decision to close a number of its campuses appears to be having a greater negative effect than the company anticipated, wrote Urdan, adding that these negative trends could continue for several more quarters. Meanwhile, Apollo's new advertising strategy doesn't appear to be significantly increasing demand, the analyst believes. Moreover, the stock can't rebound significantly until the company's new enrollment stabilizes, and Apollo's management doesn't seem to know how to make that happen, he wrote. Urdan slashed his price target range on the shares to $17-$19 from $32-$35. WHAT'S NOTABLE: Apollo's stock jumped more than 5% to $18.25 on the day it reported its results, but has since retreated. In early trading today, the shares slid 54c, or 3%, to $17.22.
News For APOL From The Last 14 Days
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July 15, 2014
09:59 EDTAPOLApollo Education discloses new Department of Education review
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09:21 EDTAPOLOn The Fly: Pre-market Movers
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07:17 EDTAPOLApollo Education Title IV review not cause for concern, says William Blair
William Blair says Apollo Education's announcement that the Department of Education will conduct a Title IV program review is not a major cause for concern. The firm notes that all U.S. colleges whose students access federal student loans are subject to periodic program reviews of their administration of Title IV funds. William Blair views Apollo's financial aid processing systems and procedures are among the best, if not the best, and keeps an Market Perform rating on the stock.
06:50 EDTAPOLApollo Education Title IV review likely non-event, says Piper Jaffray
After Apollo Education disclosed that the Department of Education will conduct a Title IV program review, Piper Jaffray says such actions are "normal course of business" and not unusual at for-profit institutions. Piper notes that Apollo's last Title IV program review was completed in 2012 with no adverse findings. The firm sees a "high probability" the review will be a non-event and it keeps a Neutral rating on the stock.
July 14, 2014
18:15 EDTAPOLOn The Fly: After Hours Movers
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16:34 EDTAPOLApollo Education down nearly 8% after DoE review
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16:30 EDTAPOLDoE to conduct review on Apollo's University of Phoenix financial aid program
Apollo Education disclosed in a regulatory filing that it has been informed by the U.S. Department of Education that the Department intends to conduct an ordinary course program review of University of Phoenix’s administration of federal student financial aid ,Title IV, programs in which the University participates. The review, which is scheduled to commence August 4, initially will cover federal financial aid years 2012-2013 and 2013-2014, as well as compliance with the Jeanne Clery Disclosure of Campus Security Policy and Campus Crime Statistics Act, the Drug-Free Schools and Communities Act and related regulations.

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