— The University of Phoenix's parent company, the Apollo Group, plunged 22 percent, the biggest drop in the S&P 500. A sharp drop in student enrollment has cut into profits, Apollo reported late Tuesday. To cope with shrinking enrollment, Apollo plans to close 115 of the university's mostly smaller locations. Its stock lost $6.09 to $21.40.
— Bank of New York Mellon surged $1.30 to $24.86 after reporting net income and revenue that topped analysts' estimates. The bank slashed expenses and collected more fees for managing investments. Investment income more than doubled from the year before.
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