Stock News - (NASDAQ:APOL) hammered down on SEC informal probe

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This morning Apollo Group, Inc. (NASDAQ:APOL) stocks is under deep selling pressure and plunged 13% to $63.72 after made a low of $60.62  yesterday Apollo Group Inc said regulatory authorities have launched an informal inquiry over its revenue recognition practices. 

Meanwhile, Apollo posted a profit of $91.5 million or 59 cents per share, compared with a profit of $229.6 million or $1.43 per share a year earlier. Excluding certain items, its profit of $1.06 per share was above the average analyst expectation for $1.04 per share, according to Thomson Reuters.

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