Education Battered, Many 52-WEEK LOWS (APOL, CECO, EDMC, COCO, DV, ESI, STRA)

Education stocks continue to get pounded after new Department of Education indications on guidelines and rules:

Apollo Group Inc. (NASDAQ: APOL) is actually getting some buying this morning and shares are up 0.4% at $39.10 on 275,000 shares pre-market.  This one might be better except the tape for peers is so bad.  The 52-week range here is $38.39 to $76.87.

Career Education Corp. (NASDAQ: CECO) is down 2% at $18.40 with a 52-week range of $18.21 to $35.88.  Thin volume here.

Education Management Corporation (NASDAQ: EDMC) NO VOLUME

Corinthian Colleges Inc. (NASDAQ: COCO) is getting crushed again with a 10.8% drop to $5.95 vs. a 52-week range of $6.64 to $20.29.  NEW 52-WEEK LOWS!  See that options trading volume from Friday…

DeVry, Inc. (NYSE: DV) is down 9% at $38.80 on 30,000 shares… NEW 52-WEEK LOWS!  Old trading range was $42.01 to $74.36.

ITT Educational Services Inc. (NYSE: ESI) is down 12% at $56.33… NEW 52-WEEK LOW.  Old range was $63.95 to $121.98.

Strayer Education Inc. (NASDAQ: STRA) down 17% at $166.23 on 190,000 shares, which is already a whole day’s volume.  The new 52-week range will be $163.75 to $262.44.  NEW 52-WEEK LOW ALERT!

(9:28 AM EST)

JON C. OGG

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Arena Regains Some Ground After Friday’s 7% Drop (ARNA)

Arena Regains Some Ground After Friday’s 7% Drop (ARNA)

Posted in pre-market 

On Friday, Arena Pharmaceuticals, Inc. (NASDAQ: ARNA) posted a 7.53% loss after Jefferies expressed concern about the company’s sound usage of risk calculation for the obesity drug Lorcaserin. As of 8:34AM EDT, the biopharmaceutical company was up 2.71% to $6.81, which is at the high end of the stock’s 52-week range of $2.70-$8.00. The stock has traded 40,684 shares, with an average volume of 8.8 million shares.

-Michael B. Sauter

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