Shares of ITT Education (ESI -15.2%) take a big hit after its Q2 misses Street expectations this...

|About: ITT Educational Services Inc. (ESI)|By:, SA News Editor

Shares of ITT Education (ESI -15.2%) take a big hit after its Q2 misses Street expectations this morning. Total revenue dropped 15% Y/Y as new-student enrollment continues to decline. For-profit educators have seen new-student enrollments tumble amid changes to their admissions practices and increased public scrutiny over the schools' educational values. The news is also dragging on Apollo Group (APOL -4.1%), which runs The University of Phoenix.