Spin-Off Leads to Dismal Day for Sallie Mae on Wall Street

Spin-Off Leads to Dismal Day for Sallie Mae on Wall Street

Today’s top gainers are Demandware Inc (NYSE:DWRE), 58.com Inc (ADR) (NYSE:WUBA) and Hologic, Inc. (NASDAQ:HOLX). The losers are SLM Corp (NASDAQ:SLM), Emulex Corporation (NYSE:ELX) and American Railcar Industries, Inc. (NASDAQ:ARII).

Demandware Surges

This Thursday’s top gainer midday is e-commerce solutions provider Demandware Inc (NYSE:DWRE). The Tiger Global asset jumped +10.30%.

Canyon Distressed Opportunity Fund likes the backdrop for credit

CanyonThe Canyon Distressed Opportunity Fund III held its final closing on Jan. 1 with total commitments of $1.46 billion, calling half of its capital commitments so far. Canyon has about $26 billion in assets under management now. Q4 2020 hedge fund letters, conferences and more Positive backdrop for credit funds In their fourth-quarter letter to Read More

Second is 58.com Inc (ADR) (NYSE:WUBA), up +9.13%. Another Tiger Global pick, it has been making strong gains after a report showed that several funds and analysts have made positive comments on the stock’s performance and company’s strengths.

And posting an +8.22% gain is Hologic, Inc. (NASDAQ:HOLX). The company posted better-than-expected results for the quarter and commented on better guidance for 2014. Today’s gain for this Carl Icahn allocation puts it at a +1.25% gain YTD.

Sallie Mae Takes a Dive

Sallie Mae posted a -64.78% loss midday today. The dip is concurrent with the spin-off of its loan management business unit, leaving the company only with the student loans sector.  SLM Corp (NASDAQ:SLM) is part of Leon Cooperman’s fund.

Networking solutions provider Emulex Corporation (NYSE:ELX) fell -29.58% midday.  The George Soros asset posted disappointing quarterly results and received a ratings downgrade.

American Railcar Industries, Inc. (NASDAQ:ARII) slipped -13.61% following its Q1 numbers report. This is another Carl Icahn pick.

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