December 29, 2010
Apollo Group Inc. (Nasdaq: APOL) and other for-profit education stocks are moving higher in late day trading after CNBC highlighted a Wall Street Journal"Heard on the Street" column that suggested the incoming chairman of the House Education Committee, Republican John Kline, may try to overturn the "gainful employment" rule. The article also suggest that a compromise could be reached with President Obama that will benefit the for-profit-education group, which spends heavily on lobbying efforts.
The article ends with a warning to short sellers, who have controlled the stockslately:
"Given that the president has shown a willingness to negotiate since his party's midterm losses, a compromise can't be ruled out. Short-sellers should bear that in mind."
Direct link to article: ttp://www.streetinsider.com/Insiders+Blog/For+Profit+Stocks+See+Late+Day+Rally+(APOL,+CECO,+ESI)/6185536.html