|13:59 EDT||APEI, BPI, DV, STRA, LOPE, APOL, LINC, EDMC, COCO, NAUH, ESI, CECO||For-profit education stocks rally after Grand Canyon results|
A number of for-profit educations stocks are advancing after one of the companies in the sector, Grand Canyon Education (LOPE), reported stronger than expected first quarter results. Grand Canyon's fiscal 2013 guidance also surpassed expectations. WHAT'S NEW: Grand Canyon reported higher than expected first quarter earnings per share, excluding a one-time settlement. The company's revenue was also higher than expected, and Grand Canyon's enrollment rose 15.7% at the end of the quarter, compared with the same period in 2012. Moreover, Grand Canyon's fiscal 2013 revenue and EPS guidance surpassed analysts' consensus estimates. TODAY'S PRICE ACTION: In mid-afternoon trading, Apollo Group (APOL) jumped 45 to $18.16, ITT Educational (ESI) surged 7% to $19.20, Strayer (STRA) advanced 2% to $46.50, DeVry (DV) added 2.3% to $28.35, and Grand Canyon (LOPE) surged 14% to $29.50.