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News Breaks
May 6, 2014
06:56 EDTAPOL, BPI, LOPE, COCO, ESI, STRA, CECO, DV, APEI, FMD, NNI, SLMSenate to vote on student loan refinance bill, Politico says
Senate Democrats are preparing to hold a vote on legislation that will allow individuals who have student loans with high interest rates to refinance them at much lower rates, according to Politico. The legislation is expected to be introduced later this week and voted on "toward the beginning of June," the website stated. Companies that provide student loans include SLM Corp (SLM), Nelnet (NNI), and The First Marblehead (FMD). Publicly traded for-profit education companies include American Public Education (APEI), Apollo Education (APOL), Bridgepoint Education (BPI), Career Education (CECO), Corinthian Colleges (COCO), DeVry (DV), Grand Canyon Education (LOPE), ITT Educational (ESI) and Strayer (STRA). Reference Link
News For SLM;NNI;FMD;APEI;DV;CECO;STRA;ESI;COCO;LOPE;BPI;APOL From The Last 14 Days
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September 19, 2014
17:40 EDTCOCOCorinthian Colleges received grand jury subpoena on September 3
On September 3, the company received a grand jury subpoena for documents from the United States Attorney’s Office in the Middle District of Florida. The subpoena seeks documents and records relating to an internal investigation of a former employee’s misconduct at the Everest Brandon campus and the company’s return of Title IV funds as a result of the investigation. The company initially self-reported the results of the internal investigation to the Office of Inspector General for the Department of Education on June 28, 2013. It is not clear whether the subpoena seeks this information regarding the former employee, the company or both. The company is evaluating the subpoena and intends to cooperate fully with the request. On September 10, the company received a grand jury subpoena for documents from the United States Attorney’s Office in the Northern District of Georgia. The subpoena seeks documents and records relating to the Everest Jonesboro and Everest Decatur campuses regarding matters including job placement, graduation rates, admissions, attendance, and student and employee information. The grand jury subpoena is signed by the same assistant United States attorney that assisted with the original, April 11, 2011 civil investigative demand for similar documents related to the same two campuses. The company is evaluating the subpoena and intends to cooperate fully with the request. On September 15, the company received a letter from the Accrediting Commission of Career Schools and Colleges, or ACCSC, the institutional accrediting agency for forty campuses, notifying the company that it was placing the Corinthian system of schools on “Warning,” continuing the company’s schools on Employment Verification Reporting, continuing to review the materials and responses submitted by the company regarding all outstanding matters both within ACCSC and externally, directing the company’s ACCSC schools to inform current and prospective students that it is on Warning, placing Corinthian’s schools on Financial Reporting, and restricting the company’s schools from applying for certain substantive changes.
14:10 EDTESIITT Educational weakness a buying opportunity, says Wells Fargo
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10:53 EDTESI Options with increasing implied volatility: ESI INO VALE AGNC
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10:07 EDTESIHigh option volume stocks
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09:19 EDTESIOn The Fly: Pre-market Movers
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07:59 EDTESIITT Educational discloses receipt of SEC 'Wells Notice' in August
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September 18, 2014
11:12 EDTCECOCareer Education CEO says committed to turnaround
CEO Scott Steffey says "well on way" to accomplishing turnaround goals. Says previously forecast $75M of savings in operating expenses by end of Q2, says has achieved $63M already. Says well on the way to achieving or surpassing $75M figure. Says "very well capitalized" for turnaround. Sees favorable market dynamics ahead. Comments made at the BMO Capital Markets Back to School Education Conference.
07:17 EDTCECO, BPI, APOL, APEI, DV, STRABMO Capital to hold a conference
14th Annual Back to School Education Conference to be held in New York on September 18 with webcasted company presentations to begin at 8 am; not all company presentations may be webcasted. Webcast Link
06:59 EDTCECOCareer Education comments on objectives to turnaround strategy
Says priorities in turnaround strategy include: Strengthening academic outcomes, generating modest university total student enrollment growth, reducing organizational cost structure, stabilizing career school enrollments, completing the teach out of transitional schools. Says regularly evaluates company's assets to determine where best to deploy capital. Comments from slides that will be presented at the BMO Capital Markets Back to School Education Conference.
September 16, 2014
13:00 EDTCOCOCorinthian Colleges sued by CFPB over predatory loans, Reuters says
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September 15, 2014
12:04 EDTDVDeVry management to meet with Piper Jaffray
Meeting to be held in New York on September 17 hosted by Piper Jaffray.
September 11, 2014
13:02 EDTDVDeVry to acquire Faculdade Martha Falcão
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September 10, 2014
16:16 EDTFMDFirst Marblehead reports Q4 EPS ($1.11), consensus (94c)
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08:32 EDTESI, DV, APOL, LOPE, STRABofA/Merrill education/prof svcs analyst has analyst/industry conference call
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September 9, 2014
07:26 EDTAPEIDeutsche Bank to hold a conference
Technology Conference to be held in Las Vegas on September 9-11 with webcasted company presentations to begin on September 9 at 10:30 am; not all company presentations may be webcasted. Webcast Link

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