Strayer Shares Plunge On Q4 Forecast Amid Sector Rout
Posted on November 09, 2012 at 14:01 PM EST
Shares of Strayer Education (STRA) plunged more than 16% in heavy volume Friday after it edged third-quarter earnings estimates, but forecast Q4 profit well below Wall Street expectations. Strayer, Apollo Group (APOL), Devry (DV) and other for-profit colleges have seen enrollments fall after they tightened admission policies to meet stricter regulations aimed at lowering student debt. The high unemployment rate has also hurt by keeping away