Trace Urdan News
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Apollo Group Inc., operator of the University of Phoenix and the biggest U.S. for-profit college, posted fourth-quarter profit and sales that beat analysts’ estimates, sending the shares higher.
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As a humanities professor at San Jose State University from 1961 to 1973, John Sperling pioneered remedial reading classes for Mexican Americans and courses in social problems for police officers.
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Apollo Group Inc. , the biggest education company by enrollment and operator of the University of Phoenix, withdrew its forecast for fiscal 2011 citing regulatory scrutiny and declining numbers of new students. The shares fell about 12 percent in extended trading.
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Education stocks plunged after Apollo Group Inc. , the biggest education company by enrollment and operator of the University of Phoenix, withdrew its forecast for fiscal 2011 citing regulatory scrutiny and a possible 40 percent decline in new students.
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The Obama Administration is gearing up to produce tougher regulations that may reduce the amount of federal financial aid flowing to for-profit colleges, cutting the companies’ annual revenue growth by as much as a third.
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The Obama administration released a proposal that would tighten for-profit colleges’ access to federal student aid , threatening growth in the industry that received $26.5 billion in U.S. funds last year.
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Strayer Education Inc. led a decline in for-profit U.S. education stocks as Senator Dick Durbin said industry practices should be curbed.
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Education Management Corp. shares surged the most since July after a BMO Capital Markets analyst said the for-profit university will survive the U.S. government’s regulatory crackdown on the industry.
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Corinthian Colleges Inc. said President and Chief Operating Officer Matt Ouimet will resign, sending the education company’s shares down as much as 8.1 percent.
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Education Management Corp. , the second-biggest U.S. for-profit college operator by enrollment, said fiscal second-quarter profit rose more than fourfold as total enrollment increased 13 percent.
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