UPDATE: Private Colleges Rip Higher (APOL) (ESI) (COCO) (DV), Citron Positive

(Updated - August 1, 2013 12:12 PM EDT)

(Updated - August 1, 2013 12:02 PM EDT)

Private education stocks climbed on Thursday, led by share of Apollo Group Inc. (NYSE: APOL). DeVry, Inc. (NYSE: DV) ITT Educational Services Inc. (NYSE: ESI) and Corinthian Colleges Inc. (NYSE: COCO) also moved higher.

Yesterday congress approved to a bill that pegs interest on government-sponsored student borrowing to a market-based rate. The new rates, pegged to 10-year Treasury note yields, will be retroactive to July 1.

Today's move may also be tied to rumors about an activist stake in Apollo Group.

Update: Citron Research Twitted the following:

"Former lemon now lemonade. $APOL giving the price of equities these days, this stock could easily see $30. Cash machine!"

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