New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
June 17, 2014
16:25 EDTLOPEGrand Canyon Education took all corrective actions required by DOE
In its Current Report on Form 8-K filed April 16, Grand Canyon Education disclosed that the University had received official notification from the U.S. Department of Education, or DOE, of the DOE’s intent to conduct a program review of the University’s administration of the Title IV programs in which it participates, as well as its administration of the Clery Act and related regulations, and its compliance with the requirements of the Drug-Free Schools and Communities Act, in each case for the 2012-2013 and 2013-2014 award years. On June 13 following completion of the program review, the University received from the DOE an expedited final program review determination letter. The final program review determination letter set forth three findings, each of which involved individual student-specific information gathering and/or reporting errors and all of which the University promptly corrected to the DOE’s satisfaction. Accordingly, the final program review determination letter concluded that the University had taken all corrective actions necessary to resolve the findings and that the program review has been closed with no further action required.
News For LOPE From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
January 15, 2015
14:45 EDTLOPEFor-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.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use