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: Shares of for-profit college Education Management (Nasdaq: EDMC) bucked the broader decline in the industry and rose more than 15% in intraday trading as investors cheered the company's fiscal first quarter results.

So what: Earnings per share for Education Management -- which is still majority owned by Goldman Sachs (NYSE: GS) and Providence Equity Partners after a late-2009 IPO -- clocked in at $0.25, ahead of the average analyst estimate of $0.22. That $0.25 in per-share profit represented more than a doubling from last year and was driven by a 25% boost in sales and a 16% increase in enrollment.

Now what: Like shares of other for-profit educators, Education Management's stock is trading at a bargain-like multiple -- currently, just over seven times expected fiscal 2011 earnings. That rock-bottom multiple isn't without cause, though. The entire sector has a cloud of uncertainty hanging over it as the government has been cracking down on the colleges' use of federal aid programs. Elsewhere in the industry today, Apollo Group (Nasdaq: APOL) took a dive as it announced that the U .S. Department of Education is conducting a review of the company's financial-aid practices. That news also led other for-profit educators such as Corinthian Colleges (Nasdaq: COCO) and DeVry (NYSE: DV) lower.

Interested in more info on Education Management? Add it to your watchlist by clicking here.

Apollo is a former Motley Fool Inside Value choice.Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors.

Fool contributor Matt Koppenheffer does not own shares of any of the companies mentioned. You can check out what Matt is keeping an eye on by visiting his CAPS portfolio, or you can follow Matt on Twitter @KoppTheFool or on his RSS feed. The Fool's disclosure policy assures you no Wookiees were harmed in the making of this article.