This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Apollo Group, Intel: After-Hours Trading (Update 1)

Updated from 5:06 p.m. ET to include latest share prices, additional content on IBM, Fortinet, and Cree.

NEW YORK ( TheStreet) -- Shares of Apollo Group (APOL - Get Report) were tumbling in late trades Tuesday after the for-profit education company missed on the top line in its latest quarter and announced an extensive restructuring program calling for the closing of 115 locations and laying off around 800 employees.

The Phoenix-based company also forecast revenue of $3.65 billion to $3.80 billion for fiscal 2013, below the current consensus view of $4.07 billion.

For its fiscal fourth quarter ended Sept. 30, Apollo reported adjusted earnings excluding special items of $58.6 million, or 52 cents a share, on revenue of $996.5 million, down 11% from last year's equivalent period. The company attributed the decline to "lower University of Phoenix enrollment, partially offset by selective tuition price and other fee changes."

The average estimate of analysts polled by Thomson Reuters was for earnings of 49 cents a share in the quarter on revenue of $1.01 billion.

Apollo said degreed enrollment at the University of Phoenix fell 13.8% year-over-year to 328,400 at quarter's end with new degreed enrollment down 13.7% compared with the prior year.

The stock was last quoted at $25.05, down 9%, on volume of more than 220,000, according to

Shares of Intel (INTC - Get Report) were losing ground after the Dow component topped lowered expectations for its third-quarter results but gave a less than stellar outlook for the fourth quarter.

The world's no. 1 chip maker warned in early September, making its actual performance in the September-ended period less important than its guidance. For the fourth quarter, Intel sees revenue of $13.6 billion, plus or minus $500 million. It pegged non-GAAP gross margins at 57-58%, plus or minus a couple of percentage points.

Wall Street's current consensus view is for revenue of $13.74 billion in the December period.

Intel's stock was last quoted at $21.60, down 3.4%, on volume of more than 11.7 million, according to
1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
APOL $9.55 8.30%
CREE $23.24 1.00%
FTNT $32.01 -0.16%
INTC $30.05 0.50%
IBM $147.30 1.50%


Chart of I:DJI
DOW 17,740.63 +79.92 0.45%
S&P 500 2,057.14 +6.51 0.32%
NASDAQ 4,736.1550 +19.0610 0.40%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs