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Two Ways: Apollo Group Schools Analysts


Strengthen your portfolio in good times and bad.


Apollo Records Second-Quarter Profit

Apollo Group (APOL) recorded a second-quarter profit yesterday due to higher enrollment. But shares fell by as much as 5.6% in after-hours trading on concerns over the private education company's bad debt expense. Apollo has had difficulty collecting payments from dropouts, a fact in attributes to the tough economic climate.

The company reported profits of $125.3 million, or $0.77 a share, compared to analysts' estimates of $0.65 a share. Revenues came in at $876.1 million versus consensus expectations of $865.5 million. Meanwhile, new enrollments at its University of Phoenix rose 20%, while new degreed enrollment rose 23%, just below 25.6% for the previous quarter. According to Dow Jones, the company said it didn't expect the surge to continue.

From the Bull Pen: Stock futures are pointing to a lower open this morning, but Research In Motion (RIMM) is grabby in green. For a trade today, consider RIMM to the upside; a sell stop can be set 2% below entry.

From the Bear Cave: Bears can press the downside in Apollo. Watch for weak follow-through, and consider setting a buy stop 2% above entry. Another option is New Oriental (EDU); a buy stop can be set above $52-$53.

Quick Check Around the World

Asian trading closed with the Hang Seng -0.42%, India 1.99%, Nikkei 2.99%, Taiwan 1.99% and Shanghai 1.47%.

Glancing towards Europe, we see the CAC -1.09%, DAX -0.95%, FTSE -0.74%

As of 8:00 AM EST, S&P Futures are trading -9 to 786, and Nasdaq futures are -12 to 1223.

A Look At Commodities

Crude oil is trading -1.06 to 48.60. Gold is +3.50 to 928.50. Silver is +0.30 to 13.010, and copper -2.10 to 182.35.

The dollar index is +0.0050to 85.9000.

On the Radar


07:00 MBA Mortgage Applications
08:30 Challeneger Job Cuts
08:30 ADP Employment Change -648k
10:00 ISM Manufacturing
10:00 Pending Home Sales MoM
10:00 ISM Prices Paid 35.5
10:00 Construction Spending -2.0%

Click here for the full trading radar.

Hope you have a great April Fool's Day! Good luck!

In memory of our fallen friend and trusted colleague, Bennet Sedacca, 100% of the donations made to the RP Foundation through April will be channeled to philanthropic endeavors consistent with the RP mission, working closely with the Sedacca clan in the distribution of those funds. We thank you kindly for your support as we strive to effect positive change in the lives of children.

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No positions in stocks mentioned.

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