Apollo Group Inc. (APOL), parent company of for-profit education centres 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.
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