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Stock Market & Financial Investment News

News Breaks
January 28, 2014
10:06 EDTAPOL, ESI, LOPE, APEI, DV, COCO, STRA, CECO, BPIFor-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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December 18, 2014
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.
December 5, 2014
08:01 EDTAPOLApollo Education closes acquisition of majority interest in Sociedade Técnica
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December 4, 2014
08:09 EDTAPOLApollo Education develops venture investment platform
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