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December 12, 2013
10:45 EDTNAUH, LOPE, CECO, APEI, STRA, COCO, LINC, EDMC, APOL, ESI, DV, BPIFor-profits drop after DOE issues new gainful employment draft
Shares of several for-profit education companies fell following new gainful employment estimates that were released by the Department of Education. WHAT'S NEW: Fourteen percent of all private colleges would fail to meet one element of a new gainful employment rule proposed by the Department of Education, the department estimated in a document released yesterday. More than 90% of the schools that would currently fail the criteria are operated by for-profit education companies. Under the proposed rule, more than 30% of students who attend schools cannot be in default for three consecutive years. If the rule is passed, students attending schools that violate the rule may no longer be eligible for financial aid. ANALYST REACTION: In a note to investors, William Blair analyst Timo Connor wrote that he expects the final version of the gainful employment rules to be significantly weaker than the current proposal. Moreover, the multiples of for-profit education stocks should increase in coming years as the risk they face from regulations decrease, he added. PRICE ACTION: The shares of most for-profit education companies fell, with Apollo Education (APOL) losing 0.7% to $24.70, DeVry (DV) sinking 2.9% to $34.17, ITT Educational (ESI) giving back 1.2% to $33.16, and Grand Canyon (LOPE) dropping 1.4% to $42.75.
Check below for free stories on COCO;BPI;APOL;STRA;DV;EDMC;APEI;ESI;LINC;CECO;LOPE;NAUH the last two weeks.
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April 16, 2014
16:22 EDTLOPEGrand Canyon Education notified DOE to conduct review
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April 14, 2014
16:54 EDTESIPoint72 raises passive stake in ITT Educational to 5.7% from 5.0%
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April 8, 2014
12:00 EDTLINCLincoln Educational rises 10.6%
Lincoln Educational is up 10.6%, or 38c, to $3.98
11:00 EDTAPOLOptions with decreasing implied volatility: APOL KMX EPB
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April 7, 2014
11:15 EDTAPOL Options with decreasing implied volatility: MNKD GALT DLLR APOL
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