Career Education downgraded to Market Perform from Outperform at Wells Fargo Wells Fargo downgraded Career Education citing poor visibility into enrollment and margins. The firm lowered its price target for shares to $2-$6 from $5-$7.
Harrington College of Design enters agreement with Columbia College Chicago Harrington College of Design and Columbia College Chicago announced that they have reached an agreement to provide an ongoing educational pathway for Harrington students through Columbia College effective August 2015. The agreement, pending accreditor and regulatory approval, is designed to afford Harrington students a reasonable opportunity to complete their program of study before their college discontinues operations, which Harrington anticipates will be in August of 2018. It also affords certain Harrington students the opportunity to complete their programs of study at Columbia, while others will continue their enrollment with Harrington but at designated classroom and office space provided by Columbia College Chicago. Harrington regrets having to make this decision, but it became necessary because of increasing financial deficits caused by multiple years of continuous declines in enrollment, as well as increased regulatory burdens facing private sector higher education institutions like Harrington. Harrington is part of the Career Education network of schools.