Sallie Shares Plunge After Statements by Chief
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Shares dropped to a five-year low after the student lenderâs chief executive, Albert L. Lord, said a dividend cut may be needed to bolster finances hurt by loan defaults and borrowing costs.
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Mortgage lender's shares plummet more than 20% after Bank of England intervention.
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Thomas J. Fitzpatrick, the chief executive of Sallie Mae, abruptly resigned yesterday in what sources said was part of a campaign by the Reston-based student loan company to improve its tattered image on Capitol Hill.
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Paul Tellier stepped down on Monday as  president and chief executive of Bombardier Inc. BBDsvb.TO  BBDb.TO, surprising investors and sending the train and plane  maker's shares down as much as 26 percent to a 10-year low.
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Leading shares ended lower, falling further back from recent 6-year highs, as a poorly received pricing update from Tate &amp; Lyle offset M&amp;A fuelled gains in Smith &amp; Nephew.
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An FDA official named and shamed several drugs offered by major drugs companies, causing their shares to fall sharply in early trading.
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Shares of the Nasdaq Stock Market  plunged to their lowest levels in over a month after the London Stock Exchange  urged shareholders to reject a 2.7 billion pound ($5.27 billion) hostile bid from the largest U.S. electronic stock market.
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Shares of subprime lender tumble after margin calls.
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Shares of Sallie Mae tumbled more than 13 percent as investors reacted to the companyâs disclosure that it would cut back on its core business of making student loans.
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Sobering expectations â foreshadowed on Sunday when management announced lower prices â weighed on the companyâs already drooping stock.
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SLM, the parent of Sallie Mae, which for years profited from placing large bets on its own stock going up, now faces a possible loss of more than $1 billion.
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One of the largest private takeovers in history -- the $25.3 billion buyout for college loan giant Sallie Mae -- unraveled yesterday after its buyers balked at the price, citing turmoil in the credit markets and federal legislation to cut subsidies to student lenders.
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Shares in the telecommunications equipment maker fell today to their lowest level after the company slashed its forecast for full-year revenue growth.
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Stocks turned sharply negative on Tuesday as shares of financial services companies slid with traders citing rumors of more financial problems at Countrywide Financial Corp , the largest U.S. mortgage lender.
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Shares of Nasdaq Stock Market Inc.  fell 5.2 percent on Tuesday to their lowest levels in over a month after the London Stock Exchange  urged shareholders to reject a 2.7 billion pound ($5.27 billion) hostile bid from the largest U.S. electronic stock market.
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Sallie Mae chairman Albert L. Lord acknowledged that he was facing a potentially hostile bunch yesterday when he addressed shareholders for the first time since his effort to sell the student loan company collapsed.
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Sobering expectations â foreshadowed on Sunday when management announced the lower prices â weighed on the companyâs already drooping stock.