Shares of for-profit education companies rose on Tuesday, as an analyst forecast gains from a bill signed by President Bush that includes $63 billion over a decade for college scholarship programs for veterans who served after Sept. 11, 2001.
BMO Capital Markets analyst Jeffrey Silber said schools with large military populations include Apollo Group Inc.'s University of Phoenix, Career Education Corp.'s American Intercontinental University, and American Public Education Inc.
"As the bill allows these benefits to be transferred to one's spouse and children, virtually all companies in the sector could benefit from this funding," Silber wrote in a client note.
Here's how some stocks fared:
Apollo Group, up $1.74, or 3.9 percent, to $46.
Career Education Corp., up 24 cents to $14.85.
Strayer Education Inc., up $2.01 to $211.08.
American Public Education Inc., up 27 cents to $38.77.
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