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Stock Market & Financial Investment News

News Breaks
October 25, 2013
10:50 EDTCECO, COCO, WPO, ESI, EDMCFor-profit education stocks rise after Career Education sells assets
Many for-profit education stocks are climbing after a private equity firm agreed to buy the European assets of one of the companies in the sector, Career Education (CECO). WHAT'S NEW: Career Education disclosed in a regulatory filing last night that it had agreed to sell its European education assets to private equity firm Apax Partners for $276.5 million in cash. The deal is expected to close by December 27, Career Education stated. ANALYST REACTION: In a note to investors, Wells Fargo analyst Trace Urdan responded to the news by upgrading Career Education to Outperform from Market Perform. Urdan reported that he had previously estimated that Career Education's European assets were worth only $106 million to $127 million, The deal is likely to reduce Career Education's overhead costs, and the transaction suggests that the company is ready to take bold actions to revitalize its U.S. schools, Urdan contended. Meanwhile, Piper Jaffray analyst Peter Appert wrote that Career Education would use the cash from the deal to more effectively pursue initiatives that could boost its growth. Nevertheless, the analyst thinks the company's fundamentals remain weak, and he kept a Neutral rating on the stock. PRICE ACTION: In mid-morning trading, Career Education jumped 54% to $5.85. Many of its peers advanced as well, including Corinthian College (COCO), which rose 2.4% to $2.40, ITT Educational (ESI), which gained 4.5% to $41, Education Management (EDMC), which added 5.4% to $14.90, and Washington Post (WPO), which was up 1.3% to $658.
News For CECO;COCO;WPO;ESI;EDMC From The Last 14 Days
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October 21, 2014
17:22 EDTESIBlum capital lowers stake in ITT Educational to 7.9%
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 EDTCOCO, ESI, CECOFor 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).
October 14, 2014
17:23 EDTESIBarnstar Opportunities reports 5.4% passive stake in ITT Educational
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October 10, 2014
10:01 EDTEDMCOn The Fly: Analyst Upgrade Summary
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05:49 EDTEDMCEducation Management upgraded to Market Perform at Wells Fargo
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