Today's Big Movers - NutriSystem and Apollo Group (NTRI, APOL)

Apollo Group (NASDAQ:APOL) shares are down 18% and trading on 8X the normal volume and NutriSystem (NASDAQ:NTRI) is up 14% today, both moving on earnings related news.

NUTRISYSTEM
NutriSystem (NTRI) shares hit a new 52-week high today at $22 and are now trading in the $21 range.  NTRI beat the Street estimates on third quarter net income of $8.45 million, or 27 cents per share, compared with $13.53 million, or 43 cents per share, in the same quarter last year. On average, Wall Street analysts expected a lower profit of 24 cents per share.

Revenue fell 22% from last year to $127 million, as cash-strapped consumers strayed from dieting programs amid the economic recession.  Looking ahead, the company forecast full-year earnings of 99 cents to $1.01 per share, while analysts expect $1 per share.

APOLLO
Apollo shares are falling hard today thanks to a SEC probe that is looking into how the company accounts for its sales.  Apollo rakes in the bucks thanks to students' tuition, federal student loans from the government make up nearly 90 percent of Apollo's tuition income.

In February, the corporate finance division of the SEC said it was looking into Apollo's revenue recognition practices. This new probe comes from the SEC's enforcement unit.