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Stock Market & Financial Investment News

News Breaks
January 28, 2014
10:06 EDTBPI, COCO, LOPE, CECO, DV, ESI, STRA, APEI, APOLFor-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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October 24, 2014
10:29 EDTAPOLOptions with decreasing implied volatility
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October 23, 2014
16:19 EDTDVDeVry reports Q1 EPS ex-items 47c, consensus 29c
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15:30 EDTDVNotable companies reporting after market close
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October 21, 2014
17:22 EDTESIBlum capital lowers stake in ITT Educational to 7.9%
07:34 EDTAPOLApollo Education sees 1Q15 revenue $720M-$730M, consensus $763.70M
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07:33 EDTAPOLApollo Education sees FY15 revenue $2.8B-$2.85B, consensus $2.80B
07:32 EDTAPOLApollo reports Q4 University of Phoenix New Degreed Enrollment down 5.9%
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07:31 EDTAPOLApollo Education reports Q4 EPS from cont. ops. ex-items 34c, consensus 27c
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October 17, 2014
12:23 EDTESIITT leaps after upping scholarships, projecting FY15 positive cash flow
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11:34 EDTESIITT expects interest expense reduction in FY15 vs. FY14
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11:28 EDTESIITT Educational says Q3 enrollment impacted by 11% admissions decline
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10:16 EDTCECOHigh option volume stocks
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07:34 EDTESIITT Educational reports preliminary Q3 new student enrollments down 9.5%
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07:34 EDTESIITT Educational reports preliminary Q2 new student enrollments down 8.1%
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October 16, 2014
17:30 EDTCOCOCorinthian Colleges enters into Forbearance and Consent Agreement
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October 15, 2014
07:07 EDTLOPE, STRA, APOL, APEI, BPI, COCO, CECO, DV, ESIFor profit education positive catalysts outweigh negative, says Wells Fargo
Wells Fargo expects for-profit education stocks to benefit from improved hiring trends and a sale by Corinthian of its assets that, according t othe firm ,would set a valuation floor for the sector. The firm continues to believe that the final gainful employment rule will be neutral to positive for the group. Wells favors the option value on the long side for the sector. 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).
06:19 EDTLOPEGrand Canyon upgraded to Outperform from Neutral at RW Baird
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October 14, 2014
17:23 EDTESIBarnstar Opportunities reports 5.4% passive stake in ITT Educational
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