🔴 Sallie Mae is trading 4.42% down after sharply cutting 2026 earnings outlook

Sallie Mae is trading 4.42% lower at $17.94 after sharply reducing its 2026 earnings outlook.

• Third-quarter loss accompanied diluted EPS guidance cut to $1.95–$2.05 from $3.10–$3.20 and full-year net charge-off guidance raised to $400–$420 million.
• Management does not expect to complete its planned final loan sale. Morgan Stanley cut its target from $30 to $26, retaining an Overweight rating.
• The broader market was nearly flat, so it does not appear to explain the company-specific decline.