Education Trends & Chesapeake News Bring 52-Week Lows
Career Education (NASDAQ:CECO) will be lowering its number of career school unit institutions to “a manageable number” and also lessen the number of brands within the unit. As a result of the reduction, Career Education anticipates answering to fewer accreditors. Additionally, the company plans to debut new programs aimed to make its students more appealing to employers, and to strategically invest with an eye toward more attractive career offerings. New leadership for this unit is also in the works. Shares for Career Education closed down 11.29% (or $0.79) on the day at $6.21, and have traded in a 52-week range of $6.22-$27.60.
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Chesapeake Energy (NYSE:CHK) revealed in a regulatory filing that CEO Aubrey McClendon received around $108.6M from sales related to Chesapeake’s Founder Well Participation Program, and paid around $550,000 in deal costs between January 1, 2011-April 26, 2012. Chesapeake reported that: “McClendon’s FWPP interests are his personal assets and are separate and distinct from the Company’s interest in its oil and gas properties and other assets. The FWPP does not restrict sales, other dispositions or financing transactions involving FWPP interests acquired from the Company. From time to time, Mr. McClendon has sold FWPP interests separately and concurrently with sales by the Company of its interests in the same properties. In any concurrent sales the proceeds related to the properties have been allocated between Mr. McClendon and the Company based on their respective ownership interests.” Chesapeake shares closed down $2.37 (13.8%) on the day at $14.81. The shares have traded in a range of $16.35-$35.75 in 52 weeks.
American Public Education (NASDAQ:APEI): Less interest in for-profit education has been seen by students, according to Career Education. APE shares closed at $28.09, down 11.86% ($3.78) on the day, and have traded in a $27.20-$49.29 52-week range.
Apollo Group (NASDAQ:APOL): The same report from Career Education (see above) relates to Apollo Group, whose shares closed at $31.34, down $1.1 or 3.39% on the day, after trading in a 52-week range of $32.37 to $58.29.
Cache (NASDAQ:CACH): Q2 SSS is up in the low to mid single digit range for Cache. The company’s shares closed at $5.00, down $0.12 (2.34%) on the day. Cache shares have traded in a 52-week range of $4.52-$7.88.
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