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Stock Market & Financial Investment News

News Breaks
August 25, 2014
07:23 EDTDV, CECO, ESI, APOL, COCO, BPI, LOPE, APEI, STRAGovernment not looking to push other colleges out of business, says Wells Fargo
In the wake of Corinthian Colleges' (COCO) dissolution due to actions taken by the Department of Education, Wells Fargo thinks the government did not intend for this scenario to unfold. After speaking with unnamed "knowledgeable sources" about the issue, the firm does not expect the department to take similar actions in the future because doing so would create too much of a workload for the department, Wells believes. 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).
News For DV;CECO;ESI;APOL;COCO;BPI;LOPE;APEI;STRA From The Last 14 Days
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October 30, 2014
10:02 EDTLOPEOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Ally Financial (ALLY) upgraded to Buy from Hold at Deutsche Bank... Banco Bradesco (BBD) upgraded to Overweight from Neutral at JPMorgan... Cree (CREE) upgraded to Neutral from Underperform at BofA/Merrill... Finish Line (FINL) upgraded to Overweight from Neutral at Piper Jaffray... Grand Canyon (LOPE) upgraded to Overweight from Neutral at Piper Jaffray... Hess Corp. (HES) upgraded to Outperform from Sector Perform at Howard Weil... Ignite Restaurant (IRG) upgraded to Market Perform from Underperform at Raymond James... Lowe's (LOW) upgraded to Buy from Neutral at Goldman... MakeMyTrip (MMYT) upgraded to Buy from Hold at Deutsche Bank... MicroStrategy (MSTR) upgraded to Overweight from Equal Weight at First Analysis... Moelis (MC) upgraded to Positive from Neutral at Susquehanna... PG&E (PCG) upgraded to Neutral from Sell at Goldman... RF Micro Devices (RFMD) upgraded to Buy at Canaccord... Ruckus Wireless (RKUS) upgraded to Equal Weight from Underweight at Morgan Stanley... STMicroelectronics (STM) upgraded to Neutral from Sell at UBS... Sealed Air (SEE) upgraded to Market Perform from Underperform at Wells Fargo... Software AG (STWRY) upgraded to Neutral from Underweight at JPMorgan... Southwest (LUV) upgraded to Neutral from Underweight at JPMorgan... Sprint (S) upgraded to Neutral from Underperform at Credit Suisse... SunPower (SPWR) upgraded to Buy from Hold at Canaccord... Take-Two (TTWO) upgraded to Buy from Hold at Brean Capital... TriQuint (TQNT) upgraded to Buy at Canaccord... Visa (V) upgraded to Outperform from Market Perform at FBR Capital... Whiting Petroleum (WLL) upgraded to Overweight from Equal Weight at Stephens.
09:14 EDTLOPEOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Visa (V), up 4%... MasterCard (MA), up 2.5%... Alcatel-Lucent (ALU), up 12.5%... TASER (TASR), up 4%... JDSU (JDSU), up 3.8%... Radian Group (RDN), up 9%... DreamWorks Animation (DWA), up 1.7%... Take-Two (TTWO), up 7.7%. ALSO HIGHER: Grand Canyon (LOPE), up 10.5%, upgraded at Piper Jaffray after the company formed a committee to explore conversion to a nonprofit entity... Walter Energy (WLT), up 6.8% after lowering FY14 capital expenditures view, reporting lower than expected losses... Novavax (NVAX), up 7% after getting fast track designation for H7N9 VLP. DOWN AFTER EARNINGS: Glu Mobile (GLUU), down 16.6%... Alliance Fiber Optic (AFOP), down 18.4%... Pacira (PCRX), down 6.4%. ALSO LOWER: Sturm, Ruger (RGR), down 10% following Q3 results, cutting Q3 dividend. Peer gunmaker Smith & Wesson (SWHC) also down 3.7% after Ruger's report... Western Gas Partners (WES), down 4.4% after its 7.5M common units spot secondary priced at $70.85... ACCO Brands (ACCO), down 1.1%, downgraded at KeyBanc following the company's Q3 results... Fiat Chrysler (FCAU), down 1.1% after reported to be recalling over 300K Ram trucks due to fire concern... Inogen (INGN), down 2.3% after 2.1M share secondary offering of common stock priced at $21.50.
08:30 EDTLOPEGrand Canyon could buy out shareholders for $50-$60 per share, says Stifel
After Grand Canyon said it was exploring converting to a nonprofit, Stifel estimates that shareholders could be bought out for $50-$60 per share in such a deal. The firm raised its price target on the name to $55 from $51 and keeps a Buy rating on the shares.
06:58 EDTAPOL, STRA, LOPE, APEI, ESI, DV, CECO, COCO, BPIRule would close fewer for-profit programs than previous draft, Politico says
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06:34 EDTSTRAStrayer reports Q3 EPS 46c with items, consensus 18c
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06:18 EDTLOPEGrand Canyon potential buyout a positive for shares, says Citigroup
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05:40 EDTLOPEGrand Canyon upgraded to Overweight from Neutral at Piper Jaffray
Piper Jaffray upgraded Grand Canyon to Overweight with a $52 price target following the company's Q3 results citing "robust" fundamentals and the potential go private transaction.
October 29, 2014
16:29 EDTLOPEGrand Canyon forms committee to explore conversion to nonprofit entity
Grand Canyon Education announced that its board has formed a committee of independent directors to explore options aimed at enhancing stockholder value. The board chose to form the committee after the "University's management expressed a desire to explore the possibility of effecting a conversion of the University to a nonprofit entity." It stated, "Such a transaction would enable the University to conduct itself in the future as a traditional nonprofit university on a level playing field with the other traditional universities with which the University competes and in a manner consistent with which it operated for 55 years prior to financial challenges which forced it to convert to a for-profit entity in 2004 as a means to solicit investment capital and remain in operation." The board "cautions the University's stockholders and others considering trading in its securities that the Board of Directors has not yet received a proposal nor has the Board of Directors determined whether such a transaction would be feasible." The committee intends to engage a financial advisor to aid in its review of any such proposal if made and any other alternatives, which include remaining as a for profit public company.
16:27 EDTLOPEGrand Canyon sees 2014 EPS $2.33, consensus $2.23
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16:26 EDTLOPEGrand Canyon sees Q4 EPS 66c, consensus 64c
Sees Q4 revenue $184.5M, consensus $181.93M.
16:26 EDTLOPEGrand Canyon reports Q3 EPS 62c, consensus 54c
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October 27, 2014
10:43 EDTAPOLOptions with decreasing implied volatility
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October 24, 2014
10:29 EDTAPOLOptions with decreasing implied volatility
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October 23, 2014
16:19 EDTDVDeVry reports Q1 EPS ex-items 47c, consensus 29c
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15:30 EDTDVNotable companies reporting after market close
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October 21, 2014
17:22 EDTESIBlum capital lowers stake in ITT Educational to 7.9%
07:34 EDTAPOLApollo Education sees 1Q15 revenue $720M-$730M, consensus $763.70M
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07:33 EDTAPOLApollo Education sees FY15 revenue $2.8B-$2.85B, consensus $2.80B
07:32 EDTAPOLApollo reports Q4 University of Phoenix New Degreed Enrollment down 5.9%
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07:31 EDTAPOLApollo Education reports Q4 EPS from cont. ops. ex-items 34c, consensus 27c
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