 Online Learning Update Ray Schroeder, editor, COLRS - Online@Illinois SpringfieldOnline Learning Update - a blog published daily since 2001 by Ray Schroeder, Professor Emeritus, University of Illinois at Springfield |
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Tuesday, March 11, 2008
Apollo Group (parent company of online learning giant U of Phoenix) Declines
Shares of Apollo Group Inc., an education company that operates the University of Phoenix, dropped Monday after an analyst cut his rating on the stock to "Sell" because of poor new-student enrollment and weakness in the student-lending market. In early trading, the stock slipped $2.30, or 3.8 percent, to $59.10. Bank of America analyst Kevin C. Doherty cut his rating on the stock by two notches, to "Sell" from "Buy." Among Doherty's many concerns is a decline in start growth, or new-student enrollment. Doherty said year-over-year new student enrollment has declined steadily.
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