New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
January 29, 2014
10:32 EDTSLM, FMD, NNISLM climbs after Obama fails to mention student loan initiative
Shares of SLM Corp. (SLM) are advancing after President Obama did not express support yesterday for legislation that would enable student loans to be refinanced at lower interest rates. SLM Corp, formerly known as Sallie Mae, provides loans to college students. WHAT'S NEW: In his State of the Union speech yesterday, President Obama did not mention a proposal to enable student loans to be refinanced at lower rates. Earlier this month, Senator Elizabeth Warren said she intended to introduce a bill to let students refinance their old loans at lower rates. Some had speculated that Obama would express support for this initiative during the State of the Union speech. ANALYST REACTION: In a note to investors earlier today, Keefe Bruyette & Woods analyst Sanjay Sakhrani wrote that Obama's speech was "surprisingly tame on student lending." He kept an Outperform rating on SLM Corp. OTHERS TO WATCH: Other companies that provide student loans include First Marblehead (FMD) and Nelnet (NNI). PRICE ACTION: In mid-morning trading, SLM gained 1% to $23.15, First Marblehead lost 0.6% to $6.30, and Nelnet inched down 0.3 to $37.05.
News For SLM;FMD;NNI From The Last 14 Days
Check below for free stories on SLM;FMD;NNI the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
September 10, 2014
16:16 EDTFMDFirst Marblehead reports Q4 EPS ($1.11), consensus (94c)
Subscribe for More Information
September 8, 2014
16:37 EDTFMDFirst Marblehead sees $3M charge connected to UFSB dissolution
First Marblehead disclosed in a regulatory filing that on May 28, the Board of Directors of Union Federal Savings Bank, a wholly owned subsidiary of The First Marblehead Corporation, approved the dissolution of UFSB and authorized UFSB to prepare a plan of voluntary dissolution pursuant to Code of Federal Regulations, Title 12, Part 146, Section 146.4, subject to approval of the Board of Directors of UFSB, the Office of the Comptroller of the Currency and the corporation, as sole stockholder of UFSB. In addition, on May 28,, the Board of Directors of the Corporation approved UFSB’s plan to pursue the Proposed Dissolution of UFSB and to prepare the Plan, subject to approval of the Plan by the Corporation, as sole stockholder of UFSB. In connection with the Proposed Dissolution of UFSB, the corporation and UFSB have incurred, and expect to incur, charges related to lease obligations, severance and retention costs, contract termination provisions and potential losses related to the liquidation of certain assets and liabilities in connection with the Plan. At the time of the filing of the Original Form 8-K, the corporation was not able to make a good faith estimate of the total amount or range of amounts related to the Proposed Dissolution for each major type of cost, expected to be incurred, or of charges that would result in future cash expenditures.Since the filing of the Original Form 8-K, the Corporation and UFSB have been in the process of developing the Plan and an estimate of related charges. The Corporation’s and UFSB’s current estimate of charges related to the Plan are $3.0 million in the aggregate. Since the filing of the Original Form 8-K, the corporation and UFSB have been in the process of developing the Plan and an estimate of related charges. The corporation’s and UFSB’s current estimate of charges related to the Plan are $3M in the aggregate,
September 4, 2014
08:33 EDTFMDIron Mountain to provide data center colocation services for First Marblehead
Subscribe for More Information

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