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Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Grand Canyon Education (Nasdaq: LOPE ) shares are down 9.5% today, possibly because of the weak outlook reported by competitor Capella Education (Nasdaq: CPLA ) , which warned that its enrollment and revenues would slow in the coming year.
So what: The entire for-profit education sector has been under pressure, as the government examines the industry's recruiting and enrollment practices and student loan default rates. Many companies in the industry, including Grand Canyon, derive the majority of their revenues from government-backed education loan programs.
Now what: Until today, Grand Canyon's shares had weathered the storm well. Through yesterday's market close, its shares were up for the year. Stay tuned for Grand Canyon's third-quarter earnings, which it is scheduled to report Nov. 9.
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