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Monday, August 14, 2006
Ecollege Plummets on 3Q Outlook - Associated Press
Shares of eCollege tanked on Thursday after the education software maker reported third-quarter guidance that missed Wall Street expectations. The stock dropped $7.02, or 37.6 percent, to $11.63 in morning trading on the Nasdaq. In the past 52 weeks, shares have traded from $11.85 to $25.73.... Ecollege, which creates online academic communities for colleges and high schools, bought Datamark in 2003 to help its customers drive student enrollment with marketing services that generate and track prospects. But the division has come on hard times as Datamark's largest customers face lower marketing budgets. "We believe this may create an excellent opportunity to invest in the still-impressive eLearning division, which continues to draw in new customers, post strong growth and provide excellent visibility," ThinkEquity Partners analyst Kirsten Edwards said in a note to investors.
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