=Navient (NAVI) reported earnings on Tue 21 July 20 (a/h)

Navient beats by $0.50, beats on revs 

Reports Q2 (Jun) earnings of $0.92 per share, excluding non-recurring items, $0.50 better than the S&P Capital IQ Consensus of $0.42; revenues rose 2.4% year/year to $300 mln vs the $271.67 mln S&P Capital IQ Consensus.

Revenue declined $1 million primarily as a result of contract terminations and expirations that occurred in the second half of 2019, as well as the impact of COVID-19 (temporary stoppage or other restrictions on certain collection/processing activity and lower volume in the transportation business). These decreases were largely offset by revenue earned from four contracts in which we were selected in second-quarter 2020 to support states in providing unemployment benefits and contact tracing services.

Earnings this week : July 20 - 24, 20 (wk 30)

Monday (July 20)

• Morning: CALM HAL LII MAN ONB PETS PHG
• Afternoon: ACC BXS CDNS CCK ELS IBM LLNW LOGI STLD ZION

Tuesday (July 21)

• Morning: CIT KO CMA CBSH GATX GPK LMT MUSA NEOG NVS OGI PM PLD SBNY SFNC SYF SNV UBS
• Afternoon: AIR CNI COF CSL FMBI FULT HWC HOPE IBKR ISRG IRBT NBHC NAVI PNFP REXR SNAP SUM AMTD TER TXN UAL UCBI USNA WRB WTFC

Wednesday (July 22)

• Morning: ABB APH AVNT BKR BIIB BOKF CADE CP CHKP CSTM DOV EVR FCFS HCA IQV KEY KNX LAD MKTX NDAQ NRZ NTRS NVR RCI SLGN SBSI TDY TMO
• Afternoon: ALGN NTB BDN BCOV CMG CNS CLB CSX CVBF DFS ECHO EFX FR GL GGG HNI ICLR KALU KMI LSTR LVS MTH MSFT NTGR PLXS SLM SEIC SLG STL SUI SU TSLA TCBI TRN UMPQ UFPI VMI WAFD WSBC WHR

Thursday (July 23)

• Morning: APD ALK ALLE ADS AB AAL T AN BANC BX CVE GTLS CTAS CTXS CMS COLB DHR DOW EWBC ENTF FITB FAF FSV FCX GWW HRI HSY HBAN KMB MTB HZO MTRN NUE ORI PTEN PNR POOL BPOP PHM DGX RS LUV STM TECK TSCO TRV TWTR UNP VLY WSO WBS WST
• Afternoon: ASB OZK BJRI SAM BOOM ETFC EW EHTH FFBC FE IEX INTC LMAT MANH MAT MXL PBCT RGP RHI SCHL SGMS SKX SWKS SIVB VRSN VICR AUY

Friday (July 24) 

• Morning: AIMC AXP BLMN CRI FHB GNTX HON MOG.A NEE NEP SLB TPH TRTN VZ

This week's biggest % winners & losers : Oct. 2 - 6, 17 (wk 40)

The following are this week's top 20 percentage gainers and top 20 percentage losers, categorized by sectors (over $300 mln market cap and 100K average daily volume).

This week's top 20 % gainers

• Healthcare: MNKD (5.04 +132.26%), ELGX (5.74 +28.7%), NTLA (30.88 +24.27%), FLXN (29.72 +22.89%), MYL (38.27 +22%), ICPT (70.12 +20.81%), ATRS (3.89 +20.06%), SGYP (3.47 +19.66%), CFMS (4.13 +17.33%), FMI (46.98 +16.85%)
• Materials: TROX (25.31 +19.95%)
• Industrials: THR (20.83 +15.79%), GOL (24.33 +15.09%), BW (3.81 +14.41%)
• Consumer Discretionary: HOV (2.25 +16.58%), PNK (24.41 +14.55%)
• Information Technology: SNCR (14.19 +52.09%), VNET (7.16 +25.83%)
• Consumer Staples: OME (22.05 +32.43%)
• Telecommunication Services: I (6.54 +39.15%)

This week's top 20 % losers

• Healthcare: MNTA (12.95 -30%), MCRB (11.92 -25.69%), IMMU (11.65 -16.67%), SCMP (10.5 -11.02%)
• Consumer Discretionary: TTS (8.6 -32.28%), ODP (3.95 -13%), ASNA (2.19 -10.82%), GPRO (9.89 -10.17%), HELE (87.45 -9.75%)
• Information Technology: SHOP (97.92 -15.94%), NPTN (4.96 -10.79%), PI (37.12 -10.78%), AAOI (58.2 -10%),
• Financials: NAVI (12.6 -16.11%), MBI (7.65 -12.07%)
• Energy: PDS (2.77 -11.22%), CIE (1.27 -11.19%), HLX (6.63 -10.28%), NE (4.13 -10.22%)
• Consumer Staples: FIZZ (109.23 -11.95%)

Navient (NAVI) : Pennsylvania AG sues on abuse claims

  

Navient (NAVI) crashed on Thursday after the Pennsylvania attorney general sued the company, alleging "widespread abuses" in its student loan origination and servicing segments and deceptive lending practices.

The lawsuit comes after the Consumer Financial Protection Bureau also sued Navient in January, saying the company "cheated many struggling borrowers out of their rights to lower repayments, which caused them to pay much more than they had to for their loans."

Washington and Illinois have also sued the company.

Pennsylvania Attorney General Josh Shapiro filed the lawsuit today in the U.S. District Court for the Middle District of Pennsylvania. Residents of the state had filed more than 1,000 complaints against the company with the CFPB, according to a statement released by Shapiro's office.

The lawsuit, he said, also had affected Pennsylvanians who got a private student loan from Sallie Mae (SLM), of which Navient was once a part.

"Navient's deceptive practices and predatory conduct harmed student borrowers and put their own profits ahead of the interests of millions of families across our country who are struggling to
repay student loans," Shapiro said.

Sallie Mae (SLM) shares fell 3.6%.

Long trade : NAVI (6/17)

Long trade : NAVI (7/17)