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Tue, Feb. 9, 9:13 AM
- The Department of Education announces it created an enforcement unit to help crack down on student aid fraud and illegal recruiting tactics.
- "We've also seen too many programs that promise students a better life only to leave them with piles of debt without the prospects to pay them," stated Education Secretary John King.
- On watch: CECO, DV, STRA, ESI, LOPE, APEI, LINC, BPI, LRN, EDU, NAUH, APOL, EDMC.
Dec. 16, 2015, 10:41 AM
Dec. 16, 2015, 8:43 AM
- Unable to find a buyer for the culinary arts school, Career Education (NASDAQ:CECO) will begin a gradual wind-down process for Le Cordon Bleu, and will no longer enroll new students after the January 2016 classes begin.
- "New federal regulations make it difficult to project the future for career schools that have higher operating costs," says CEO Todd Nelson.
- The company expects to record about $52M-$64M of restructuring charges related to the move.
- Source: Press Release
Nov. 4, 2015, 7:46 AM
- Career Education (NASDAQ:CECO): Q3 EPS of -$0.17 beats by $0.20.
- Revenue of $162.07M (-11.4% Y/Y) misses by $8.83M.
Nov. 3, 2015, 5:30 PM
- AFAM, AGN, AMRN, ARCC, ARCO, ARQL, ARRY, AVA, AVP, AXAS, BDX, BIOS, BSFT, CBB, CDW, CECO, CHK, CLH, CRK, CRL, CRTO, CRZO, CST, CSTE, CTSH, DAVE, DDD, EE, EMES, FOR, FOXA, GDP, HAE, HEP, HMC, HSIC, HSNI, INXN, KELYA, KORS, LINC, LL, MEMP, MFA, MNTA, MSI, MWE, NAVB, NCT, NEWP, NRG, NYLD, REGN, SBGI, SCMP, SE, SHOP, SNH, SODA, SSYS, STNG, TESO, TMHC, TWX, USAK, VG, VOYA, VRTU, VSI, WCG, WD, WEC, WEN, WILN, WIX, WMC
Oct. 9, 2015, 11:15 AM
- Apollo Education (NASDAQ:APOL) is down 10.6% to $11.05 after disclosing that the University of Phoenix is on probation with the DoD.
- Phoenix is no longer allowed to recuit on U.S. military installations.
- As tipped earlier, the for-profit sector is on edge with the ruling. Bridgepoint Education (BPI -3%), Career Education (CECO -2.2%), DeVry (DV -1.5%), Strayer Education (STRA -1.4%), and ITT Educational (ESI -1.1%) are some of the names trading off a bit.
Oct. 9, 2015, 8:34 AM
- Apollo Education (NASDAQ:APOL) discloses in a SEC filing that its University of Phoenix subsidiary business is on probation with the Department of Defense due to violations.
- The DoD is considering whether it will terminate its Voluntary Education Partnership Memorandum of Understanding with Phoenix.
- SEC Form 8-K
- APOL -3.24% premarket to $11.96. Government action within the for-profit sector has impacted trading across the sector in the past.
- On watch: CECO, DV, STRA, ESI, LOPE, APEI, LINC, BPI, LRN, EDU, NAUH.
Sep. 14, 2015, 12:30 AM
- President Obama is expected to announce later today a plan to boost financial aid options for college students.
- One of the measures to be unveiled is pushing up the date students can apply for financial aid under the Free Application for Federal Student Aid program. The earlier date is seen helping families pick more affordable options for higher education by receiving their options sooner in the process.
- On watch: APOL, CECO, DV, STRA, ESI, LOPE, APEI, LINC, BPI, LRN, EDU, NAUH.
Aug. 7, 2015, 12:44 PM
Aug. 6, 2015, 4:57 PM
- Career Education (NASDAQ:CECO): Q2 EPS of -$0.14 beats by $0.36.
- Revenue of $174.78M (-6.1% Y/Y) beats by $17.13M.
Aug. 5, 2015, 5:35 PM
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Jul. 27, 2015, 11:57 AM
- For-profit stocks are jumpy with new federal regulations aiming to curb abusive practices now in effect.
- The sector could take its future direction from which way the U.S. Presidential election goes next year.
- Current estimates of 1.4K schools being closed in the future due to the new regulations tied to gainful employment could be dialed back if a GOP candidate wins the general election.
- Though not a front-runner, Republican Carly Fiorina said in a recent interview that the government needs to play a "far less heavy-handed role" in the for-profit sector.
- Today's for-profit movers: ITT Educational Services (NYSE:ESI) +4.6%, Capella Education (NASDAQ:CPLA) +1.4%, Apollo Education (NASDAQ:APOL) +1.1%, Lincoln Education (NASDAQ:LINC) -7.7%, Career Education (NASDAQ:CECO) -3.3%.
Jun. 29, 2015, 3:47 PM
- Education stocks trade sharply lower.
- The biggest development in the for-profit sector lately has been proposed spending cuts by the Department of Education on federal education programs.
- The for-profit sector is also affected by a court ruling upholding tighter funding standards related to debt ratio levels of graduates.
- Decliners: DeVry (NYSE:DV) -6.8%, Career Education Corp. (NASDAQ:CECO) -5.5%, Strayer Education (NASDAQ:STRA) -4.6%, American Public Education (NASDAQ:APEI) -3.8%, Bridgepoint Education (NYSE:BPI) -3.4%.
Jun. 18, 2015, 7:40 AM
- Career Education (NASDAQ:CECO) announces it worked out a deal to transfer Brooks Institute to gphomestay.
- Brooks Institute has campuses in Santa Barbara and Ventura, California.
- Terms of the deal weren't disclosed.
May 7, 2015, 12:49 PM
May 6, 2015, 5:27 PM
- Career Education (NASDAQ:CECO): Q1 EPS of -$0.37 may not be comparable to consensus of -$0.24.
- Revenue of $182.3M (-8.0% Y/Y) misses by $0.5M.
Career Education Corp provides online, on-ground and hybrid learning programs. It serves students from campuses throughout the USA, offering programs that lead to doctoral, master's, bachelor's & associate degrees, as well as to diplomas & certificates.
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