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What: Shares of for-profit educators moved to the head of the class today, with Corinthian Colleges
So what: For-profit schools will take good news wherever they can get it these days, and today it came in the form of Corinthian's fiscal second-quarter earnings report. Revenue for the quarter decreased 14% from the same quarter of the prior year, while the total student population declined 10%. Excluding impairment charges, diluted earnings per share were $0.04 versus $0.23 a year ago.
Revenue edged out analysts' expectations, while the per-share profit tally was significantly better than the $0.01 that Wall Street was looking for.
Now what: Fellow for-profit educators took the cue from Corinthian and were rallying as well. Career Education
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