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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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Fool contributor Matt Koppenheffer does not have a financial interest in 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 Facebook. The Fool’s disclosure policy prefers dividends over a sharp stick in the eye.