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News Breaks | | | | December 4, 2012 | | 10:03 EDT |  | CECO | Career Education retreats after analyst downgrades stock
For-profit education company Career Education (CECO) is falling after Wells Fargo analyst Trace Urdan downgraded his rating on the stock to Market Perform from Outperform. The outlook for Career Education's enrollment and margins is uncertain, the analyst wrote. Moreover, the company is likely to spend a great deal of money on closing campuses, Urdan added. Career Education last month announced that it would close 23 of its schools and lay off about 900 of its employees. While this restructuring initiative should result in a "healthy" 2014 operating profit, Career Education may have to use much of its cash reserves to pay the restructuring costs, the analyst wrote. Urdan believes the stock could remain range bound until the company provides more information about its earnings outlook, and he slashed his valuation range on the shares to $2-$6 from $5-$7. In early trading, Career education fell 6c or 2.13%, to $2.76. | |
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News For CECO From The Last 14 Days Check below for free stories on CECO the last two weeks. |
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| June 13, 2013 | | 07:03 EDT |  | CECO | Sources differ on progress towards student loan deal, Politico says
Congressional leaders are making progress towards a deal that would prevent interest rates on college loans from automatically doubling on July 1, Education Secretary Arne Duncan stated yesterday, according to Politico. However, Capitol Hill sources indicated that the parties are still far from reaching a deal, the website reported. Reference Link | | | June 11, 2013 | | 14:02 EDT | | CECO | Department of Education outlines gainful employment committee parameters
 Subscribe for More Information | | | 13:32 EDT |  | CECO | Department of Education delays Gainful Employment negotiations, says BMO Capital
Subscribe for More Information | | | 11:17 EDT | | CECO | For-profit education stocks slide after Corinthian gets SEC probe
Subscribe for More Information | | | 09:16 EDT | | CECO | On The Fly: Pre-market Movers
HIGHER: Dole Food (DOLE), up 21.9% after CEO offers buyout at $12 per share... Questcor (QCOR), up 32% after buying rights to develop Synacthen and Synacthen Depot in the U.S. from Novartis (NVS), upgrade to Buy at CRT Capital... CardioNet (BEAT), up 44% after announcing a three-year national provider agreement with UnitedHealthcare Insurance (UNH)... Catamaran (CTRX), up 13.2% after announcing a ten-year strategic pharmacy benefits deal with Cigna (CI)... Sprint (S), up 2% after Softbank (SFTBF) increases buyout offer terms. Clearwire (CLWR) up 1.2%. LOWER: lululemon (LULU), down 14.9% after reporting earnings, CEO announces plans to step down, stock downgraded at Sterne Agee and UBS... Texas Instruments (TXN), down 2% after narrowing second quarter revenue, earnings forecast ranges... Corinthian Colleges (COCO), down 15.4% after disclosing the receipt of a subpoena from the SEC. Corinthian peer Career Education (CECO) 5.5%... Kinross Gold (KGC), down 5.5% after canceling development project in Ecuador, taking $720M charge, stock downgraded at Canaccord. DOWN AFTER EARNINGS: LDK Solar (LDK), down 8.5%. | | | June 10, 2013 | | 18:58 EDT | | CECO | On The Fly: After Hours Movers
Subscribe for More Information | | | June 6, 2013 | | 06:58 EDT | | CECO | Senate to consider two student loan bills, Politico says
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