Apollo Down Huge, But Not As Bad As Initially (APOL)

Posted in pre-market 
October 28th, 2009

Apollo Group Inc. (NASDAQ: APOL) is getting hammered but not quite as bad as last night.  The online education posted solid earnings and enrollment growth.  But two issues hit it with the first being the sustainability of enrollments.  The second and much more important issue, far more important, is an SEC inquiry into revenue recognition practice.  Shares are down 16.8% at $60.68 on over 175,000 shares as of 8:22 AM EST.  -JON OGG

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