Investor%27s Business Daily - Fannie Mae (OTCBB:FNMA.ob - News) and Freddie Mac (OTCBB:FMCC.ob - News), the gov%27t-backed mortgage agencies, could be replaced by a variety of organizational forms providing mortgage credit with less systemic risk, Federal Reserve Chairman Ben Bernanke said.

Investor%27s Business Daily - Apollo Group%27s (NMS:APOL) University of Phoenix, Corinthian Colleges%27 (NMS:COCO) Everest College, Washington Post Co.%27s Kaplan College and Education Management%27s (NMS:EDMC) Argosy University enrolled students in programs they can%27t afford, exaggerated potential earnings and urged some to lie on financial forms, said the Gov%27t Accountability Office. Senate Education Committee Chairman Tom Harkin pledged to curb abuse. The GAO made the charges Tues. but hadn%27t named specific for-profits. School stocks fell a bit.

Investor%27s Business Daily - School stocks fell broadly, including Career Education (NMS:CECO), down 9%; Corinthian Colleges (NMS:COCO), down 7.5%; Grand Canyon Education (NMS:LOPE), down 6%; Apollo Group (NMS:APOL), down 4%; Strayer Education (NMS:STRA), down 4% and DeVry , down 3%. American Public Education (NMS:APEI) fell 5% during the day and 29% after hours. It beat Q2 EPS estimates but sales fell short.

Investor%27s Business Daily - Employment shrank more than expected in July, the Labor Department said Friday, as the sluggish recovery from the sharpest job losses in decades raised speculation that the Federal Reserve may take new action this week.

Investor%27s Business Daily - The office supply retailer swung to a Q2 profit of 12 cents a share, beating views of a break-even quarter, helped by lower costs. Revenue edged down 0.3% to $1.65 bil, missing views of $1.67 bil. Same-store sales fell 0.3%. OfficeMax sees Q3 sales below prior-year sales of $1.83 bil, vs. views of $1.86 bil. The company also sees full-year sales at or below 2009%27s $7.21 bil vs. views of $7.29 bil. Shares dived 12.7%.