Apollo pre-announced results fiscal 2Q10 results, lowers estimates

Apollo pre-announced results fiscal 2Q10 results, with EPS from continuing operations lower than our and the consensus estimate. 2Q10 EPS from continuing operations is expected to be $0.77-0.82 versus the consensus estimate of $0.94. The pre-market announcement apparently is due to  1) higher than expected bad debt expense,  2) greater than expected investments in BP [...]

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 PHOENIX–(BUSINESS WIRE)–Dec. 14, 2009– Apollo Group, Inc. (NASDAQ: APOL) (the “Company”) today announced that it has entered into an agreement with the United States of America, acting through the U.S. Attorney’s Office for the Eastern District of California and the U.S. Department of Justice on behalf of the U.S. Department of Education, and with two [...]

Read More About - Apollo Group, Inc. Resolves University of Phoenix False Claims Act Case Agreement Provides for $67.5 Million Payment, Plus Attorneys Fees »

Apollo group is getting hammered today due to its announcement of the SEC inquiry yesterday.  I would have to agree with JPM & Piper Jaffray’s view on this and believe the market is once again over reacting to EDU news…  Their EPS & Enrollment are above expectations & their retention has continued to improve.  In addition [...]

Read More About - Apollo Group gets hammered due to SEC inquiry! »