APOL, DV, APEI, LOPE, BPI, CHDX, ARIA, CGEN Popular Stocks
U.S. stocks traded higher Monday, with the Dow Jones Industrial Average rising 1.52% to 10176, the S&P 500 up 1.63% to 1087 and the Nasdaq Composite gaining 1.52% to 2144.
Barron’s warned of 10 education-related stocks to avoid, saying for-profit education companies have soared on the back of questionable practices and rising enrollments. “Bad stuff just keeps emerging from some of these lucrative enterprises, which whistleblower lawsuits depict as high-pressure sales operations bent on vacuuming up student-loan dollars,” the story read. In particular, Apollo Group Inc. (NASDAQ:APOL, $54.94, -$1.05, -1.88%) and DeVry Inc. (NYSE:DV, $52.72, -$2.66, -4.80%) fell particularly hard. But Wedbush’s Ariel Sokol said the story is unfair and it actually affirms his thesis that some for-profits operate in an important affordable range for those needing a degree, particularly American Public Education Inc. (NASDAQ:APEI, $33.03, -$0.94, -2.77%), Grand Canyon Education Inc. (NASDAQ:LOPE, $17.63, -$0.50, -2.76%) and Bridgepoint Education Inc. (NYSE:BPI, $15.99, +$0.06, 0.38%).
Chindex International Inc. (NASDAQ:CHDX, $12.50, -$3.71, -22.89%) reported its fiscal second-quarter profit dropped 38% despite sales remaining flat. The provider of health care and medical devices for China said Chinese government reviews of import approvals on its high-value medical equipment and robotic surgical systems cost it delays for the quarter and resulted in the medical-products segment offsetting the health-care segment’s growth.
JPMorgan raised its stock-investment rating on Ariad Pharmaceuticals Inc. (NASDAQ:ARIA, $2.47, +$0.30, 13.82%) to overweight from neutral, citing two catalysts for the drug company’s shares in the next three to six months. The first is upcoming Phase I data on Ariad’s chronic myeloid leukemia treatment, and the second is an interim analysis of a trial on its cancer-drug ridaforolimus.
Compugen Ltd. (NASDAQ:CGEN, $2.82, +$0.39, 16.05%) said it discovered a genetic marker for predisposition to the most common form of diabetes, which could make it easier for doctors to determine who is at high risk. The biopharmaceutical company, which has been unprofitable as it is in the drug-development stage, said Monday that discovering a genetic biomarker is particularly helpful for diseases such as Type 2 diabetes, as they are significantly affected by lifestyle and health factors.
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