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Stock Market & Financial Investment News

News Breaks
July 18, 2014
08:33 EDTDVDeVry discloses receipt of letter from NY AG regarding ads, marketing
DeVry disclosed in a regulatory filing that on July 15 DeVry Group received a letter from the Office of the Attorney General of the State of New York requesting cooperation with the NYOAG’s inquiry into whether recent television advertisements and website marketing regarding DeVry University may have violated federal and state laws prohibiting false advertising and deceptive practices. The letter requests relevant information from January 1, 2011, to the present to enable NYOAG to make a determination of what action, if any, is warranted. "DeVry Group intends to provide the Office of the Attorney General with its full cooperation with a view toward demonstrating the compliant nature of its practices. The timing or outcome of this matter, or its possible impact on DeVry Group’s business, financial condition or results of operations, cannot be predicted at this time," the company stated.
News For DV From The Last 14 Days
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January 15, 2015
14:45 EDTDVFor-profit education names slip after Wells says search data negative
Shares of a number of for-profit education companies are falling after Wells Fargo wrote that Google search trends do not bode well for the sector. WHAT'S NEW: Google search trends for the fourth quarter indicate that students' interest in for-profit education companies probably did not increase significantly during that period, Wells Fargo analyst Trace Urdan wrote in a note to investors today. The data indicates that new student enrollment at the schools could even come in below already pessimistic expectations, Urdan reported. The analyst found that searches for terms related to for-profit schools dropped in Q4, versus the same period a year earlier. Moreover, there were many more searches in Q4 for non-profit schools than for-profit colleges, Urdan stated. Sentiment towards for-profit education names is already "quite weak" after President Obama on January 9 proposed allowing all Americans to attend community college at no cost and Apollo Education (APOL) on January 8 provided lower than expected Q2 revenue guidance, Urdan stated. As a result, investors may already be expecting schools in the sector to report weak enrollment data, Urdan believes. However, the search data for Strayer (STRA) is "more negative than positive," even though expectations for the company appear to be elevated, the analyst reported. On a positive note, search results for Capella Education (CPLA), Grand Canyon (LOPE), and DeVry's (DV) Chamberlain looked better than average, Urdan reported, adding that investors' expectations towards those names are relatively upbeat. PRICE ACTION: In mid-afternoon trading, Strayer fell 1% to $68, ITT Educational fell 3.6% to $8.37, Bridgepoint Educational (BPI) tumbled 4.5% to $10.10, American Public (APEI) slid 2.25% to $33.89, and Grand Canyon gave back 2% to $43.

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