Traders Selling Education Stocks Following Credit Suisse Downgrade on DeVry, ITT (DV, ESI, APOL, CECO, more)

Most stocks in the Education sector are trading lower today as bearish notes from Credit Suisse on ITT (NYSE: ESI) and DeVry (NYSE: DV) may be striking a chord with investors in the group.

Credit Suisse downgraded shares of ITT and DeVry from Outperform to Neutral, saying that a regulatory draft on gainful employment (which the firm previously cited as the reason for a recent upgrade), probably won't be as beneficial after all. The firm now believes that related exemptions will be given to institutions with completion rates under 50% (in contrast to the company's previous note which estimated 50% exactly).

In the Education sector:

• DeVry - down 7% to $64.48
  
• ITT - down 2% to $109.59
  
• Apollo Group (Nasdaq: APOL) - down 1.6% to $62.49
  
• Strayer Education (Nasdaq: STRA) - down 1% to $250.45
  
• Career Education (Nasdaq: CECO) - down 1.5% To $33.59
  
• Corinthian Colleges (Nasdaq: COCO) - down 3% $17.32
  
• American Public Education (Nasdaq: APEI) - down 2.4% To $45.07
  
• Grand Canyon Education (Nasdaq: LOPE) - down 0.5% to $25.98

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