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Stock Market & Financial Investment News

News Breaks
January 28, 2014
10:06 EDTSTRA, CECO, BPI, APOL, ESI, LOPE, APEI, DV, COCOFor-profit education stocks mixed after probes disclosed
Shares of for-profit education companies are mixed after two companies in the sector disclosed that they are being probed by multiple states. WHAT'S NEW: Yesterday night Corinthian Colleges (COCO) stated that its business practices were being probed by 13 states. The company added that it had received Civil Investigative Demands, or CIDs, from most of those states. The CIDs seek documents and a wide range of additional information from Corinthian, including information on tuition and loans, and lead generation activities, the company noted. Moreover, Corinthian stated that "several other companies" in the sector had received similar CIDs. One such company is ITT Educational (ESI), which disclosed last night that it had received CIDs from 12 states. The CIDs include requests for information and documents relating to the company's students and its practices, ITT Educational stated. WHAT'S NOTABLE: On January 6, Corinthian Colleges disclosed that it had received a CID from the U.S. Consumer Financial Protection Bureau, or CFPB. The CID sought information in order to determine whether the company or other entity was engaged in illegal practices, Corinthian reported at the time. ITT Education has also come under scrutiny by the CFPB. On December 27, the company disclosed that the agency was considering taking legal action against the company for violating a number of laws. PRICE ACTION: In early trading, Corinthian added 0.7% to $1.55, while ITT Educational lost 0.6% to $40.75. Meanwhile, Apollo Educatio (APOL) was flat at $33, Strayer (STRA) gained 1.75% to $36.90 and DeVry (DV) added 0.4% to $37.75.
News For BPI;COCO;LOPE;CECO;DV;ESI;STRA;APEI;APOL From The Last 14 Days
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April 16, 2014
16:22 EDTLOPEGrand Canyon Education notified DOE to conduct review
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April 14, 2014
16:54 EDTESIPoint72 raises passive stake in ITT Educational to 5.7% from 5.0%
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April 8, 2014
11:00 EDTAPOLOptions with decreasing implied volatility: APOL KMX EPB
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April 7, 2014
11:15 EDTAPOL Options with decreasing implied volatility: MNKD GALT DLLR APOL
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