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

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

When you purchase through our sponsored links, we may earn a commission. By using this website you agree to our T&Cs.

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%.

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.

Our Editorial Standards

At ValueWalk, we’re committed to providing accurate, research-backed information. Our editors go above and beyond to ensure our content is trustworthy and transparent.

iBillionaire
Editor

Want Financial Guidance Sent Straight to You?

  • Pop your email in the box, and you'll receive bi-weekly emails from ValueWalk.
  • We never send spam — only the latest financial news and guides to help you take charge of your financial future.