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NAVI

Navient

$12.65

-0.15 (-1.17%)

16:21
02/20/19
02/20
16:21
02/20/19
16:21

Canyon Partners withdraws Navient indication of interest, to propose board slate

Canyon Capital Advisors announced that it has withdrawn its February 15, 2019 initial expression of interest to acquire Navient and stated that it does not intend to participate in any acquisition process at this time. Instead, Canyon will propose a minority slate of experienced and independent candidates for election at Navient's upcoming annual meeting to "bring a fresh perspective and oversight to Navient's strategic direction, about which Canyon has significant concerns as a shareholder of over 10% of Navient's outstanding common stock." Canyon added: "Contrary to public reports, Canyon never made an offer to acquire the Company. Rather, Canyon, a longstanding, significant shareholder of Navient, had been engaged with Navient over the past several months in a confidential and courteous process to explore a potential transaction. On February 15, Canyon provided an initial expression of interest at a level Canyon believed appropriate given the information it had and did not have. However, by letter and press release of February 17, Navient abruptly walked away from the parties' discussions, indicated it was unwilling to provide additional information Canyon had requested to address its concerns, and declined Canyon's request to extend the February 23 deadline for action at Navient's upcoming annual meeting. Accordingly, Canyon has withdrawn its expression of interest. Canyon will proceed to safeguard its and other shareholders' interests by nominating candidates to Navient's board so that independent, informed focus and oversight can be given to Navient's future direction."

NAVI Navient
$12.65

-0.15 (-1.17%)

06/01/18
WEDB
06/01/18
UPGRADE
WEDB
Outperform
Navient upgraded to Outperform from Neutral at Wedbush
06/01/18
06/01/18
UPGRADE
Target $15.75

Outperform
Navient upgraded to Outperform with $15.75 price target at Wedbush
As previously reported, Wedbush analyst Henry Coffey upgraded Navient to Outperform from Neutral, stating that the company's new reporting structure helps him better appreciate the company's earnings outlook and suggests the company is likely to report modest growth in EPS and a total return of over 18% during the next 18 months. Coffey raised his estimates for Navient and increased his price target on the stock to $15.75 from $14.50.
01/16/19
JPMS
01/16/19
UPGRADE
Target $12
JPMS
Neutral
Navient upgraded to Neutral from Underweight at JPMorgan
JPMorgan analyst Richard Shane upgraded Navient to Neutral while lowering his price target for the shares to $12 from $13.
01/16/19
JPMS
01/16/19
NO CHANGE
JPMS
JPMorgan resets ratings across Specialty Finance sector
The prospect of a prolonged government shutdown and global trade uncertainty threatens what has been "steady, reliable domestic growth," JPMorgan analyst Richard Shane tells investors in a research note on the Specialty Finance sector. Further, the analyst believes the outlook for Fed action has become more clouded. However, Shane thinks sentiment across his sector seems to reflect uncertainty, which gives him an "increasingly positive bias" to the group. He sees the most upside potential among consumer finance names, with late cycle uncertainty "potentially dampening" upside among commercial mortgage real estate investment trusts. Shane this morning upgraded a host of names: Navient (NAVI), OneMain Holdings (OMF) and KKR Real Estate Finance Trust (KREF) to Neutral from Underweight and TCG BDC (CGBD), Annaly Capital (NLY) and Apollo Commercial (ARI) to Overweight from Neutral. Today's downgrades are Santander Consumer (SC), BlackRock Capital Investment (BKCC), WhiteHorse Finance (WHF) to Underweight from Neutral along with PennantPark (PNNT) and Granite Point Mortgage (GPMT) to Neutral from Overweight.

TODAY'S FREE FLY STORIES

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CVGI

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ACA

Arcosa

$34.14

-0.4 (-1.16%)

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CYRX

Cryoport

$17.95

0.2 (1.13%)

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MDR

McDermott

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-2.88 (-48.98%)

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MDR

McDermott

$3.00

-2.88 (-48.98%)

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MDR

McDermott

$3.00

-2.88 (-48.98%)

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STX

Seagate

$56.92

0.88 (1.57%)

13:35
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Options
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NLSN

Nielsen

$22.45

-0.13 (-0.58%)

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BX

Blackstone

$52.93

-0.57 (-1.07%)

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RUBI

Rubicon Project

$9.36

-0.05 (-0.53%)

, TLRA

Telaria

$8.03

-0.195 (-2.37%)

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Rubicon Project

$9.36

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TLRA

Telaria

$8.03

-0.195 (-2.37%)

TTD

Trade Desk

$209.29

-3.72 (-1.75%)

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FDX

FedEx

$149.76

-23.77 (-13.70%)

13:25
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Downgrade
FedEx rating change  »

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Conference/Events
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SOLO

ElectraMeccanica

$2.40

0.04 (1.69%)

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UN

Unilever; also tag UL

$60.45

0.01 (0.02%)

, PG

Procter & Gamble

$121.47

0.32 (0.26%)

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UN

Unilever; also tag UL

$60.45

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PG

Procter & Gamble

$121.47

0.32 (0.26%)

UL

Unilever; also tag UN

$61.51

0.05 (0.08%)

RBGLY

Reckitt Benckiser

$0.00

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HENKY

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$0.00

(0.00%)

LRLCY

L'Oreal

$0.00

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NRC

National Research Corporation

$63.59

1.59 (2.56%)

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FB

Facebook

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, TWTR

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-0.59 (-1.36%)

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On The Fly
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FB

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TWTR

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SNAP

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$NSD

NASDAQ Market Internals

$0.00

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$NYE

NYSE Market Internals

$0.00

(0.00%)

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TYL

Tyler Technologies

$259.19

-0.47 (-0.18%)

13:15
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Conference/Events
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BRKR

Bruker

$43.21

0.34 (0.79%)

13:14
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Bruker management to meet with Needham »

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RST

Rosetta Stone

$18.99

-0.22 (-1.15%)

13:13
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Conference/Events
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