Apollo Group Inc. (APOL), parent company of for-profit education centers like University of Phoenix and The College of Financial Planning, is taking a huge hit today.
The downgrade from “Buy” to “Hold” at ThinkEquity can’t help their situation much either.
A report from Reuters notes that Apollo predicts “higher bad debt” as it heads into 2010, a statement that spooked education investors. Shares are down $4.48 or 7.3% to $56.97.
Join the conversation about this story »
See Also:
- Come On, Is There Really A Devry Grad At Goldman Sachs?
- The 10 Worst University Endowment Managers
- CHART OF THE DAY: Harvard Alumni Pony Up During University’s Hour Of Need