New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
January 9, 2013
09:56 EDTSLM, ESIITT Educational continues slide after Citi downgrades stock
Shares of for-profit education company ITT Educational (ESI) are retreating after Citigroup analyst James Samford downgraded the stock to Sell from Neutral in a note to investors earlier today. On January 4, ITT announced that it had reached a $46M settlement with Sallie Mae (SLM) over the latter company's lawsuit related to underperforming loans whose risk the companies had agreed to share. ITT said the deal would reduce its Q4 earnings per share by 56c. ITT has $500M of additional loans that could also perform below the company's estimates, Samford wrote. As a result, the company may have to make more payments related to underperforming loans and take more write-downs, the analyst believes. ITT will be saddled with$15M-$25M in annual charges and cash payments as a result of higher default rates, predicted Samford, adding that the company could report results below analysts' consensus estimates. The analyst slashed his price target on the stock to $13 from $24. Shares of ITT Educational, which have dropped about 24% since the company announced its settlement with Sallie Mae, fell 4.41% to $14.52 in early trading.
News For ESI;SLM From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
January 27, 2015
14:54 EDTSLMSallie Mae management to meet with Evercore ISI
Subscribe for More Information
January 23, 2015
10:02 EDTSLMOn the Fly: Analyst Downgrade Summary
Subscribe for More Information
09:00 EDTSLMSallie Mae sell-off a 'huge' buying opportunity, says Janney Capital
Subscribe for More Information
05:36 EDTSLMSallie Mae downgraded to Neutral from Buy at Goldman
Subscribe for More Information
January 21, 2015
16:21 EDTSLMSallie Mae sees FY15 core EPS 48c-50c, consensus 62c
Subscribe for More Information
16:19 EDTSLMSallie Mae reports Q4 EPS 3c, consensus 5c
Subscribe for More Information
15:27 EDTSLMNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include American Express (AXP), consensus $1.38; Kinder Morgan (KMI), consensus 34c; eBay (EBAY), consensus 89c; Discover Financial Services (DFS), consensus $1.30; Crown Castle (CCI), consensus $1.05; Crown Castle (SNDK), consensus $1.27; Xilinx (XLNX), consensus 61c; F5 Networks (FFIV), consensus $1.49; United Rentals (URI), consensus $2.07; Plexus (PLXS), consensus 72c; Boston Private Financial Holdings (BPFH), consensus 22c; Dolby Laboratories (DLB), consensus 38c; SLM (SLM), consensus 5c; East West Bancorp (EWBC), consensus 65c; Raymond James Financial (RJF), consensus 86c; BancorpSouth (BXS), consensus 32c.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use