October 2, 1998

Report on U. of Phoenix Sends Stock Price Down

By JULIANNE BASINGER

Shares in the parent company of the University of Phoenix lost about 21 per cent of their value in mid-September, after a Wall Street Journal report raised questions about the sustainability of the company's recent strong performance and uncovered an audit by the U.S. Department of Education.

Stock in the Apollo Group, which had skyrocketed since it began trading nearly four years ago, fell 7.688 points, or

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