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Feb. 7, 2017, 2:36 p.m. EST

K12's stock rallies after DeVos confirmed as Secretary of Education

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By Tomi Kilgore

Shares of K12 Inc. /zigman2/quotes/205813628/composite LRN -0.04% rallied 1% in afternoon trade Tuesday, after Vice President Pence broke a tie to confirm Betsy DeVos as the next Secretary of Education. "While somewhat of a controversial choice, we believe this appointment will be positive for the private sector (for-profit) education sector, specifically in the K-12 segment where Ms. Devos has been a strong proponent of school reform, particularly charter schools," Analyst Jeffrey Silber at BMO Capital Markets wrote in a note to clients. "This could be a positive for K12 Inc., which helps to manage virtual charter schools." K12's stock has lost 8.1% since closing at a 2 1/2-year high of $20.19 on Jan. 30, but was still up 66% since the election. Among shares of other for-profit education companies, Career Education Corp.'s slipped 0.8% Tuesday but has climbed 32% since the election; DeVry Education Group Inc.'s shed 2% on Tuesday but has run up 38% since the election; and Capella Education Co.'s dropped 1.1% Tuesday, but has rallied 12% since the election. Meanwhile, the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.27% was little changed Tuesday, but has gained 7.2% since the election.

/zigman2/quotes/205813628/composite
US : U.S.: NYSE
$ 26.34
-0.0100 -0.04%
Volume: 142,006
Sept. 25, 2020 10:17a
P/E Ratio
43.34
Dividend Yield
N/A
Market Cap
$1.09 billion
Rev. per Employee
$208,069
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/zigman2/quotes/210599714/realtime
US : S&P US
3,237.79
-8.80 -0.27%
Volume: 375.77M
Sept. 25, 2020 10:17a
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