After Chief Holds a Chat, Sallie Mae Stock Plunges
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A conference call on Wednesday by Albert L. Lord, the chief executive of Sallie Mae, baffled investors and sent Sallie Mae stock into a tailspin.
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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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The value of Sallie Mae Chairman Albert L. Lord's stake in his firm has declined sharply since the unraveling of his months-long effort to sell the student loan company to a group of private investors.
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Legg Mason's Chief Investment Strategist says the market crashes when it's fundamentally unsound.  Then humans panic and make it worse.
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Shares of drug distributor Henry Schein Inc. (HSIC.O: Quote, Profile, Research) fell nearly 3 percent before the bell on Wednesday after trading resumed a day after news that a
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WASHINGTON Sept. 24, 2004 - Shares of Fannie Mae fell again on Friday, capping a three-day slide of more than 13 percent, as investor concerns widened after a government regulator accused top executives
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Former CEO quits on heels of bad quarterly loss.
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Stocks turned sharply negative as shares of financial services companies slid with traders citing rumors of more financial problems at Countrywide Financial.
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Shares of Countrywide Financial Corp., the nation's largest mortgage lender, sank to an all-time low Tuesday as a major homebuilder offered a grim outlook for the industry
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Shares fell as much as 9.5 percent, the most since March, after the company fired its chief accounting officer.
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The embattled student lending giant said that it lost $1.6 billion in its fourth quarter as it prepared for a jump in student loan defaults.
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Stocks fell on Friday, led by pharmaceutical shares after a US health official raised concerns about drug safety and a drop in chip-equipment makers following a ratings downgrade by Goldman Sachs.
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The insurer said difficulties in valuing a credit derivatives portfolio had triggered auditor questions over its internal controls, sending its shares down more than 11 percent.
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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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CHICAGO -- Shares of Kraft Foods Inc. fell Tuesday as the company's CEO announced a new phase of the company's turnaround plan that she hopes will help the world's second-largest food and beverage maker revive its slumping sales.
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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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U.S. stocks fell on Wednesday on deepening concerns that a crisis in lending could spread and a warning from the Federal Reserve chairman that weakness in housing could hurt economic growth for some time.