Sallie Mae is trading 4.64% down at $20.75 after reporting a third-quarter loss and sharply lowering its 2026 earnings outlook. - It reported a GAAP loss of $0.19 per share, versus analysts’ expected $0.17 profit. - 2026 EPS guidance fell from $3.10–$3.20 to $1.95–$2.05; higher credit-loss provisions and expenses weighed on results, and net charge-off guidance increased. - The broad market was weaker; after-hours volume was not provided.