Apollo Group Inc. (APOL) reported fourth quarter EPS of $1.06 after the close Tuesday, which beat the consensus estimate of $1.04. Full year 2009 EPS came in at $4.22, compared to the consensus estimate of $4.19. The company also announced that the Enforcement Division of the Securities and Exchange Commission commenced an informal probe into the company's revenue recognition practices.
Apollo Group gapped open sharply lower Wednesday and slipped further around midday, to close down by $12.91 at $60.06 on the highest volume in nearly 7 months. The stock dropped to nearly a 5-month low and fell below its 50 and 200-day moving averages.
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