Nelnet (NYSE:NNI) Azioni

Nelnet

Nelnet Inc is a United States based company engaged in these four reportable segments; Loan Servicing and Systems focuses on student and consumer loan origination services and servicing, loan origination and servicing-related technology solutions, and outsourcing business services; Education Technology Services and Payments segment provides education services, payment technology, and community management solutions for K-12 schools, institutions, churches, and businesses; Asset Generation and Management segment includes the acquisition and management of student and other loan assets; and Nelnet Bank focuses on the private education and unsecured consumer loan markets. Maximum revenue for the company is generated from its Education Technology Services and Payments segment.

Nelnet Inc

News

Nelnet Business Services, A Division Of Nelnet, Acquires The Outstanding Equity And Membership Interests To Become The Sole Owner Of Next Gen Web Solutions; Terms Not Disclosed

WIIM

ATLC

CACC

DAVE

ECPG

GDOT

KSPI

MOGO

NAVI

NRDS

PRAA

WRLD

Shares of consumer finance companies are trading higher following President Trump's decision to implement a 90-day pause on reciprocal tariffs for all countries except China.

Nelnet shares are trading higher after the company reported better-than-expected Q4 financial results.

Nelnet (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NNI#NYSE">NNI</a>) reported quarterly earnings of $1.44 per share which beat the analyst consensus estimate of $1.23 by 17.07 percent. &nbsp;

Earnings

Earnings Beats

Nelnet Q4 2024 Adj EPS $1.44 Beats $1.23 Estimate

AAON

ABCL

ACEL

ACHC

ACHR

ACIC

ACIW

ADSK

AIRG

ALEX

ALHC

ALKT

ALTM

AMBP

AMPH

AMRC

AMWD

ARGX

ARLO

ARRY

ASTH

AUPH

AVPT

BBWI

BCSF

BECN

BLND

BWMX

CABO

CARS

CCOI

CDXS

CLCO

CLOV

CMBT

CMLS

CMPS

CODI

COLL

CRDF

CRNX

CRON

CSTL

CTKB

CUBE

CVEO

CYTK

DAIO

DCGO

DELL

DUOL

ECVT

EFXT

ERIE

Embraer-Empresa Brasileira De Aeronautica

ESEA

ESTC

EVRG

EXFY

FIGS

FOXF

FTDR

FWONA

FWONK

GBTG

GDEN

GDRX

Earnings Scheduled For February 27, 2025

President Donald Trump administration is reportedly considering executive actions to dismantle the U.S. Department of Education, a move that could have far-reaching implications for publicly traded companies in the education, student<a href="https://www.benzinga.com/topic/donald-trump"> loan, and technology sectors. </a>
The Wall Street Journal <a href="https://www.wsj.com/politics/policy/education-department-trump-executive-order-eeaf1cb6">reported</a> Monday that officials are weighing an executive order that would shut down non-statutory functions or reassign them to other federal agencies, with a longer-term goal of abolishing the department altogether.
The potential dismantling of the Education Department would be a significant step toward fulfilling Trump's campaign promise to eliminate the department, reduce federal involvement in education, and shift authority to the states.
This follows the Trump administration's Jan. 25 executive order titled "Ending Radical Indoctrination in K-12 Schooling." The order aims to reshape the U.S. education system by eliminating federal support for what the Trump administration describes as &#8220;radical indoctrination&#8221; in schools and promoting &#8220;patriotic education.&#8221;
<h3 class="wp-block-heading">Student Loan Servicing And Private Lending</h3>
One of the most closely watched areas in the wake of potential changes is the student loan industry.
Navient Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NAVI#NASDAQ">NAVI</a>) and Nelnet Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NNI#NYSE">NNI</a>), which handle a large portion of federal student loan servicing, could see disruptions in their contracts. Shares of Navient and Nelnet closed 0.9% and 0.3% lower on Monday. 
Private lenders like SoFi Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOFI#NASDAQ">SOFI</a>), which focuses on student loan refinancing, might benefit from increased demand if federal loan programs are scaled back.&nbsp;
For-profit education providers, which have often been subject to federal oversight and regulation, could see policy shifts that affect their business models. Institutions such as Grand Canyon Education Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LOPE#NASDAQ">LOPE</a>) and Strategic Education Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STRA#NASDAQ">STRA</a>). 
Beyond student loans and for-profit education, the potential dismantling of the Education Department could have ripple effects on technology companies that provide tools and services to schools. 
Companies like Chegg Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHGG#NYSE">CHGG</a>), which offers online learning resources, and Instructure Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/INST#NYSE">INST</a>), the parent company of learning management system Canvas, could face shifts in demand as schools adapt to new federal and state policies.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/government/regulations/25/02/43447339/trump-announces-us-sovereign-wealth-fund-hints-at-tiktok-ownership">Trump Orders US Sovereign Wealth Fund, Hints At TikTok Ownership: &#8216;I Have The Right To Do That&#8217;</a></li>
</ul>
Photo: Michael Candelori/Shutterstock.com

Government

Large Cap

Mid Cap

Regulations

Education

Politics

Econ #s

Tech

CHGG

INST

LOPE

SOFI

STRA

Trump Administration Weighs Plan To Shut Down Education Department: Which Stocks Could Be Affected?

Nelnet shares are trading lower after the company reported a year-over-year decline in Q3 adjusted EPS results.

Nelnet (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NNI#NYSE">NNI</a>) reported quarterly earnings of $0.34 per share. This is a 69.64 percent decrease over earnings of $1.12 per share from the same period last year.

Nelnet Q3 Adj $0.34 Down From $1.12 YoY

TD Cowen analyst Moshe Orenbuch maintains Nelnet (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NNI#NYSE">NNI</a>) with a Hold and raises the price target from $96 to $98.

Price Target

Analyst Ratings

TD Cowen Maintains Hold on Nelnet, Raises Price Target to $98

Nelnet (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NNI#NYSE">NNI</a>) reported quarterly earnings of $1.20 per share which missed the analyst consensus estimate of $1.33 by 9.77 percent. This is a 73.91 percent increase over earnings of $0.69 per share from the same period last year.

Earnings Misses

Nelnet Q2 Adj $1.20 Misses $1.33 Estimate

A federal appeals court has blocked President Joe Biden&#8217;s administration from implementing its Saving on a Valuable Education (SAVE) <a href="https://www.benzinga.com/news/24/07/39845798/whats-going-on-with-sofi-technologies-stock">student debt relief plan.&nbsp;</a>
The Details: The St. Louis-based 8th U.S. Circuit Court of Appeals granted a request by seven states to put on hold parts of the U.S. Department of Education&#8217;s debt relief plan. Combined with a previous ruling last month by U.S. District Judge John Ross in St. Louis, the entire SAVE plan is now blocked from being implemented as the legal process continues. 
&#8220;Appellants&#8217; emergency motion for an administrative stay prohibiting the appellees from implementing or acting pursuant to the Final Rule until this Court rules on the appellants&#8217; motion for an injunction pending appeal is granted,&#8221; 8th Circuit Court stated in its ruling.&nbsp;
Read Next:<a href="https://www.benzinga.com/news/earnings/24/07/39826835/discover-reports-better-than-expected-q2-results-heres-the-details"> Discover Reports Better-Than-Expected Q2 Results: Here&#8217;s The Details</a>
According to a <a href="https://www.businessinsider.com/save-plan-blocked-student-loan-borrowers-cheaper-payments-debt-cancellation-2024-7">report </a>from Business Insider, the Department of Education's Solicitor General Elizabeth Prelogar recently responded to the court on the confusion that would be caused if implementation of the SAVE plan was blocked at this stage.&nbsp;
&#8220;Many have already received bills that reflect the decrease in monthly payments to 5% of their discretionary income,&#8221; Prelogar wrote. &#8220;Many would experience intense confusion when they are told that their payments must be recalculated and that they must be placed in forbearance — which would delay any eventual loan forgiveness.&#8221;
Some companies that service student loans include SoFi Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOFI#NASDAQ">SOFI</a>), Nelnet, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NNI#NYSE">NNI</a>), Navient Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NAVI#NASDAQ">NAVI</a>) and SLM Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLM#NASDAQ">SLM</a>). 
SOFI, NNI, NAVI, SLM Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, SoFi shares are down 4.02% at $7.53, Nelnet shares are down 1.50% at $109.66, Navient shares are down 1.60% at $15.36 and SLM shares are down 0.64% at $23.35 at market close Thursday.
Read Also:
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39827454/what-happened-with-intel-stock-today">What Happened With Intel Stock Today?</a></li>
</ul>
Photo: Shutterstock

Legal

Movers

Appeals Court Blocks Biden's SAVE Student Loan Debt Relief Plan

Discover Financial Services (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DFS#NYSE">DFS</a>) shares are trading higher today after the company reported better-than-expected second-quarter EPS results yesterday.
The company reported GAAP earnings of $6.06 per share, beating the estimate of $3.07 per share, and quarterly<a target="_blank" href="https://www.benzinga.com/news/earnings/24/07/39826835/discover-reports-better-than-expected-q2-results-heres-the-details" rel="noreferrer noopener"> Net Interest Income (NII) of $3.524 billion</a>.
RBC Capital Markets analyst Jon G. Arfstrom says the stock&#8217;s performance (<a target="_blank" href="https://www.benzinga.com/quote/DFS/analyst-ratings" rel="noreferrer noopener">Sector Perform, with a $140 price target</a>) is likely to be influenced primarily by the pending merger with Capital One Financial Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COF#NYSE">COF</a>), with the expectation that the acquisition <a target="_blank" href="https://www.benzinga.com/news/24/07/39827834/why-capital-one-stock-is-climbing" rel="noreferrer noopener">will eventually be completed</a>.
Concurrently, Discover is progressing independently by addressing regulatory and compliance issues, simplifying operations focused on core consumer banking and everyday card products, divesting student lending, and achieving peak<a target="_blank" href="https://www.benzinga.com/quote/DFS/analyst-ratings" rel="noreferrer noopener"> credit costs, writes the analyst</a>.
Arfstrom anticipates these strategic actions to position the company well as it moves forward in the year.
The company now projects an FY24 margin of 11.1% to 11.4%, up from 10.7% to 11.0% previously, with the student loan sale expected to boost the NIM by around 10 basis <a target="_blank" href="https://s23.q4cdn.com/669804705/files/doc_financials/2024/q2/Second-Quarter-2024-Earnings-Presentation.pdf" rel="noreferrer noopener">points</a>.
The analyst anticipates management will narrow the guidance range further as 2024 progresses. Additionally, the buyback remains on hold due to the pending merger.
Seperately, the company <a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/b39813634/discover-financial-services-announces-agreement-to-sell-private-student-loan-portfolio" rel="noreferrer noopener">disclosed a deal to sell its $10.1 billion</a> private student loan portfolio to investment vehicles managed by The Carlyle Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CG#NASDAQ">CG</a>) and KKR &amp; Co. Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>), with servicing to be handled by Firstmark Services, a division of Nelnet, Inc.(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NNI#NYSE">NNI</a>).
The portfolio is set to be sold for approximately $10.8 billion, reflecting a premium of around $700 million or about 7%, says the analyst.
Arfstrom writes that the robust premium on the portfolio reflects its high quality and attractiveness, aligning with management&#8217;s expectations upon announcing the business exit several quarters ago.
Investors can gain exposure to the stock via&nbsp;BlackRock ETF Trust BlackRock Future Financial And Technology ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BPAY#NYSE">BPAY</a>) and&nbsp;Amplify ETF Trust Amplify Mobile Payments ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IPAY#NYSE">IPAY</a>).
Price Action: DFS shares are up 0.28% at $141.81 at the last check Thursday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Analyst Color

Equities

Reiteration

Trading Ideas

BlackRock ETF Trust BlackRock Future Financial and Technology ETF

BPAY

IPAY

Analyst Expects Discover Financial To Further Narrow FY24 Guidance This Year: Details

SoFi Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOFI#NASDAQ">SOFI</a>) shares are trading mostly flat Thursday. The stock has climbed more than 20% over the past month on investors' optimism for <a href="https://www.benzinga.com/news/24/07/39780473/sofi-technologies-shares-surge-amid-optimism-on-fed-policy-and-trump-related-political-developments">rate cuts in the near-term.&nbsp;</a>
What To Know:
There have also been several recent developments regarding student loans. The Biden Administration announced Thursday that <a href="https://www.whitehouse.gov/briefing-room/statements-releases/2024/07/18/statement-from-president-joe-biden-on-1-2-billion-in-student-debt-cancellation-for-35000-borrowers/">it will forgive</a> an additional $1.2 billion in student loans for 35,000 public service workers through its Public Service Loan Forgiveness (PSLF) program.
Read Next:<a href="https://www.benzinga.com/news/earnings/24/07/39826835/discover-reports-better-than-expected-q2-results-heres-the-details"> Discover Reports Better-Than-Expected Q2 Results: Here&#8217;s The Details</a>
Discover Financial Services (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DFS#NYSE">DFS</a>) announced Wednesday that it has entered into an agreement to sell its private <a href="https://www.benzinga.com/pressreleases/24/07/b39813634/discover-financial-services-announces-agreement-to-sell-private-student-loan-portfolio">student loan portfolio</a> to one or more strategic partnerships with Firstmark Services, a division of Nelnet, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NNI#NYSE">NNI</a>) assuming responsibility for servicing the portfolio upon the sale.&nbsp;
The principal balance of Discover's private student loan portfolio was approximately $10.1 billion, and the purchase price is expected to be up to approximately $10.8 billion.&nbsp;
Student loans accounted for 17.21% of SoFi's loan origination volume in the first quarter, and the segment grew 43% year-over-year.&nbsp;
SoFi is set to report its second-quarter results on July 30 before the opening bell. According to estimates from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, analysts expect the company to report earnings of 1 cent per share and quarterly revenue of $563.908 million. 
According to data from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, SoFi shares are trading above the stock&#8217;s 50-day moving average of $6.86 and 18.66% of shares are being sold short.
<h2 class="wp-block-heading">SOFI Stock Prediction 2024: </h2>
Equity research analysts on and off Wall Street typically use earnings growth and fundamental research as a form of valuation and forecasting. But many in trading turn to technical analysis as a way to form predictive models for share price trajectory.
Some investors look to trends to help forecast where they believe a stock could trade at a certain point in the future. Looking at SoFi Technologies, an investor could make an assessment about a stock's long term prospects using a moving average and trend line. If they believe a stock will remain above the moving average, which many believe is a bullish signal, they can extrapolate that trend into the future using a trend line. For SoFi Technologies, the 200-day moving average sits at $7.60, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, which is below the current price of $7.98. For more on charts and trend lines, <a href="https://pro.benzinga.com/">see a description here.</a>
Traders believe that when a stock is above its moving average, it is a generally bullish signal, and when it crosses below, it is a more negative signal. Investors could use trend lines to make an educated guess about where a stock could trade at a later date if conditions remain stable.
SOFI Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, SoFi Technologies shares are down 0.51% at $7.80 at the time of publication Thursday.
Read Also:
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39827454/what-happened-with-intel-stock-today">What Happened With Intel Stock Today?</a></li>
</ul>
Image: Shutterstock&nbsp;

What's Going On With SoFi Technologies Stock?

TD Cowen analyst Moshe Orenbuch maintains Nelnet (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NNI#NYSE">NNI</a>) with a Hold and raises the price target from $90 to $96.

TD Cowen Maintains Hold on Nelnet, Raises Price Target to $96

U.S. stocks were mostly higher, with the Dow Jones gaining over 100 points on Friday.
Shares of Genpact Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/G#NYSE">G</a>) rose sharply during Friday's session after the company reported better-than-expected first-quarter financial results and <a href="https://www.benzinga.com/quote/G/earnings">raised its FY24 EPS range</a>.
Genpact posted adjusted earnings of 73 cents per share, beating market estimates of 68 cents per share. The company's quarterly sales came in at $1.13 billion versus expectations of $1.11 billion, according to data from<a href="https://pro.benzinga.com/dashboard"> Benzinga Pro</a>.
Genpact shares gained 6.8% to $34.26 on Friday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>Novavax, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVAX#NASDAQ">NVAX</a>) shares gained 139% to $10.73 after the company and Sanofi announced a co-exclusive licensing agreement to commercialize a COVID-19 vaccine and develop COVID-influenza combination vaccines.</li>
<li>iTeos Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ITOS#NASDAQ">ITOS</a>) rose 40% to $17.06 after the company announced a $120 million registered direct offering and reported Q1 financial results.</li>
<li>Sweetgreen, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SG#NYSE">SG</a>) shares jumped 39.4% to $32.86 after the company reported better-than-expected first-quarter sales results.</li>
<li>Ouster, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OUST#NYSE">OUST</a>) rose 34.3% to $13.90 after the company reported better-than-expected first-quarter financial results.</li>
<li>Organogenesis Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ORGO#NASDAQ">ORGO</a>) gained 32% to $3.02 following upbeat quarterly results.</li>
<li>CareDx, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDNA#NASDAQ">CDNA</a>) gained 26.3% to $13.99 after the company reported better-than-expected first-quarter financial results and issued FY24 revenue guidance above estimates.</li>
<li>Groupon, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRPN#NASDAQ">GRPN</a>) climbed 22.3% to $12.85 after the company reported better-than-expected first-quarter results.</li>
<li>ADMA Biologics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADMA#NASDAQ">ADMA</a>) climbed 21% to $8.39 after the company reported better-than-expected first-quarter financial results and issued strong revenue guidance.</li>
<li>SoundHound AI, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOUN#NASDAQ">SOUN</a>) shares rose 19.3% to $5.66 in pre-market trading after the company reported better-than-expected first quarter financial results.</li>
<li>American Coastal Insurance Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACIC#NASDAQ">ACIC</a>) gained 17.2% to $12.79 after the company reported better-than-expected first quarter financial results. The company announced the sale of 100% of its issued and outstanding stock of Interboro Insurance Company to Forza Insurance Holdings.</li>
<li>Gen Digital Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GEN#NASDAQ">GEN</a>) rose 15% to $23.42 after the company reported better-than-expected quarterly earnings and authorized a $3 billion share repurchase program.</li>
<li>Mettler-Toledo International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTD#NYSE">MTD</a>) rose 14.6% to $1,478.49 after the company reported better-than-expected first-quarter financial results and issued guidance.</li>
<li>Clean Energy Fuels Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLNE#NASDAQ">CLNE</a>) gained 13.6% to $2.74 following upbeat quarterly results.</li>
<li>Natural Grocers by Vitamin Cottage, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NGVC#NASDAQ">NGVC</a>) climbed 13.2% to $20.19 following second-quarter results.</li>
<li>Natera, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTRA#NASDAQ">NTRA</a>) gained 11.3% to $106.36 following strong first-quarter earnings.</li>
<li>NuScale Power Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMR#NYSE">SMR</a>) rose 11% to $6.50 following first-quarter results.</li>
<li>Integral Ad Science Holding Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IAS#NASDAQ">IAS</a>) climbed 8.8% to $9.12 after the company reported better-than-expected first-quarter sales results and issued FY24 revenue guidance above estimates.</li>
<li>Dutch Bros Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BROS#NYSE">BROS</a>) rose 8.7% to $35.68 after TD Cowen upgraded the stock from Hold to Buy and raised its price target from $33 to $46.</li>
<li>H&amp;R Block, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HRB#NYSE">HRB</a>) gained 7.5% to $52.89 after the company reported better-than-expected quarterly financial results.</li>
<li>RB Global, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBA#NYSE">RBA</a>) gained 7.3% to $78.24 after the company reported better-than-expected first-quarter financial results.</li>
<li>Funko Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FNKO#NASDAQ">FNKO</a>) rose 7% to $7.30 as the company reported better-than-expected first-quarter earnings and issued strong earnings forecast for the second quarter. The company also appointed Cynthia Williams as its Chief Executive Officer, effective May 20.</li>
<li>DigitalOcean Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOCN#NYSE">DOCN</a>) gained 6.9% to $34.82 following better-than-expected first-quarter earnings and upbeat guidance.</li>
<li>Nelnet, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NNI#NYSE">NNI</a>) gained 6.4% to $104.94 after the company reported better-than-expected earnings results.</li>
<li>CarGurus, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CARG#NASDAQ">CARG</a>) rose 6.3% to $23.68 after the company reported mixed first-quarter financial results.</li>
<li>Ubiquiti Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UI#NYSE">UI</a>) gained 5.7% to $123.36 after the company reported mixed quarterly financial results.</li>
<li>The Boston Beer Company, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAM#NYSE">SAM</a>) gained 4.1% to $296.21.</li>
<li>Array Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARRY#NASDAQ">ARRY</a>) shares gained 3.5% to $12.94 after the company reported stronger-than-expected financial results for the first quarter on Thursday.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/news/24/05/38759656/delta-air-lines-live-nation-entertainment-and-more-on-cnbcs-final-trades">Delta Air Lines, Live Nation Entertainment And More On CNBC&#8217;s &#8216;Final Trades</a>&#8216;

Intraday Update

Markets

ADMA

BROS

CARG

CDNA

CLNE

DOCN

FNKO

GRPN

ITOS

NGVC

NTRA

NVAX

ORGO

OUST

SOUN

Genpact Posts Upbeat Earnings, Joins Groupon, Natera, Funko, CarGurus And Other Big Stocks Moving Higher On Friday

Nelnet shares are trading higher after the company reported better-than-expected Q1 Adj. EPS results.

Nelnet (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NNI#NYSE">NNI</a>) reported quarterly earnings of $1.81 per share which beat the analyst consensus estimate of $1.38 by 31.16 percent.

Nelnet Q1 2024 Adj EPS $1.81 Beats $1.38 Estimate

President Joe Biden is canceling yet another round of student loan debt amounting to <a href="https://www.benzinga.com/topic/student-loans">more than $7.4 billion</a>. 
What Happened: Roughly another 277,000 borrowers, especially public sector workers, are expected to benefit from the revised plan. 
Among the changes that are a part of the SAVE (Saving on a Valuable Education) plan, include:
<ul>
<li>An income-driven repayment (IDR) plan, which bases monthly payment on income and family size.</li>
<li>Payments will now be based on a smaller portion of adjusted gross income.</li>
<li>If you make your full monthly payment, but it is not enough to cover the accrued monthly interest, the government covers the rest of the interest that accrued that month. </li>
<li>This means that the SAVE Plan prevents your balance from growing due to unpaid interest.</li>
<li>As of February, borrowers with $12,000 or less are forgiven after as few as 10 years.</li>
</ul>
More elements of SAVE will go into effect this summer.
The announcement was a follow-up from Monday, April 8, when Biden touted renewed efforts to <a href="https://www.benzinga.com/general/education/24/04/38112671/as-biden-readies-another-large-scale-student-loan-forgiveness-plan-here-are-stocks-to-watch">offer relief to debt-saddled individuals and families</a>.
&#8220;Too many people feel the strain and stress, wondering if they can get married, have their first child, start a family, because even if they get by, they still have this crushing, crushing debt,&#8221; he said.
See Also: <a href="https://www.benzinga.com/news/24/04/38158266/joe-biden-and-japans-pm-to-discuss-high-speed-rail-proposal-for-texas-at-summit-report">Joe Biden And Japan&#8217;s PM Discuss High-Speed Rail Proposal For Texas At Summit</a>
Why It Matters: More than 4 million people will benefit from the debt relief.
In total, the Biden administration has OKed some $153 billion in student loan debt — over 9% of all outstanding federal student loan debt.
The plan is not without its Republican critics. GOP officials like Georgia Attorney General Chris Carr say Biden is defying the conservative-leaning Supreme Court. 
Last year, Supreme Justices ruled against Biden&#8217;s <a href="https://www.benzinga.com/news/23/10/35482019/biden-has-canceled-billions-in-student-loans-even-after-the-supreme-court-ruled-against-him">original loan forgiveness plan</a>.
Two groups of Republican-led states have even <a href="https://apnews.com/article/student-debt-cancellation-college-forgiveness-f94b9706bd395b32e44d4d1b3f6ff051">filed</a> lawsuits against the Biden administration over the initiative.
&#8220;Despite the Court having already settled this issue, the Biden administration continues to brazenly violate the law,&#8221; Carr <a href="https://law.georgia.gov/press-releases/2024-04-09/carr-files-suit-against-president-bidens-latest-lawless-student-loan-plan">said</a>. &#8220;Georgia taxpayers have made it clear that they know it's wrong to be forced to pay off other people's student loans, particularly those with the highest earning potential. This is election-year politics and an egregious example of federal overreach, and we're fighting back yet again.&#8221;
The Education Department clapped back, pointing out how Congress gave the agency power to define terms of repayment plans <a href="https://www.congress.gov/bill/103rd-congress/house-bill/2055/text">in 1993</a>.
&#8220;The Biden-Harris Administration won't stop fighting to provide support and relief to borrowers across the country — no matter how many times Republican elected officials try to stop us,&#8221; the department said.
See Also: <a href="https://www.benzinga.com/general/politics/24/04/38213007/trumps-changing-stance-on-abortion-arizona-ruling-bring-2024-election-topic-front-and-center-how">How Biden&#8217;s Campaign Is Targeting Trump&#8217;s Changing Stance On Abortion</a>
What&#8217;s Next: Expect Biden to contrast his student loan forgiveness program with the education policies of his <a href="https://www.benzinga.com/topic/2024-presidential-election">2024 presidential opponent</a>, former President Donald Trump. 
During a speech in Wisconsin this week, Biden made a subtle jab at the <a href="https://www.benzinga.com/news/23/08/33851310/donald-trump-election-fraud-probe-georgia-grand-jury-reportedly-issues-10-indictments">quadruple-indicted GOP candidate</a>.
&#8220;We plan to cancel debt for borrowers who were cheated by universities that left students with unaffordable and little benefits for students,&#8221; Biden said. &#8220;You know one of those colleges was closed&#8230; I won&#8217;t mention it.&#8221;
The crowd laughed, seemingly in on Biden&#8217;s joke. Trump shut down Trump University in 2011 after multiple investigations, lawsuits and student complaints.
See below.
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
<div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="Biden cancels another round of student debt for over 200,000 more borrowers" width="500" height="281" src="https://www.youtube.com/embed/22GK7wgXlbk?start=174&#038;feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>
In 2018, a New York judge <a href="https://ag.ny.gov/press-release/2018/ag-schneiderman-statement-final-trump-university-settlement">finalized</a> a $25 million settlement between Trump and the Trump University victims. 
Tickers To Watch: Several student loan-related tickers were in the red on Friday.
<ul>
<li>SoFi Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOFI#NASDAQ">SOFI</a>) saw its stock price dip more than 1.96% to $7.49&nbsp;a share as of press time. </li>
<li>SLM Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLM#NASDAQ">SLM</a>) was also in the red, trading at $20.70 a share — down by 1.4%.</li>
<li>Discover Financial Services (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DFS#NYSE">DFS</a>), currently <a href="https://www.benzinga.com/m-a/23/09/34618431/is-discover-financial-in-crisis-it-mulls-student-loan-business-sale-after-ceo-resignation">selling its student-loan unit</a>, is down by 1.05% and trading at $121.65 a share.</li>
<li>Navient Corp.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NAVI#NASDAQ">NAVI</a>) stock price was down 0.81%, trading at $16.52 a share. </li>
</ul>
At least one student loan servicing company was in the green: Nelnet Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NNI#NYSE">NNI</a>). At last check, the Lincoln, Nebraska-based firm was up more than 0.27%, trading at $94.58.
Now Read: <a href="https://www.benzinga.com/news/24/04/38219940/biden-beats-trumps-record-blacklists-more-chinese-entities-than-ex-president">Biden Beats Trump&#8217;s Record &#8211; Blacklists More Chinese Entities Than Ex-President</a>
Image: Shutterstock

Biden Wipes More Than $7M In Student Debt For 277K Borrowers: 'Too Many People Feel The Strain And Stress'

Sunrock Distributed Generation, a commercial solar and clean energy development and management platform, announces today its tax equity partnership with Nelnet, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NNI#NYSE">NNI</a>), marking a significant step towards enhancing energy sustainability, building power grid resiliency, and reducing carbon emissions in local communities.
The partnership combines the extensive expertise of Sunrock and Nelnet to finance and construct ongoing portfolios of distributed generation assets across several states including California, Illinois, New Jersey, and New York. The construction of initial projects is already underway.
Wilson Chang, CEO of Sunrock, comments, "Sunrock is thrilled to announce our financing partnership with Nelnet, Inc, which will enable us to build even more solar and distributed generation assets originated and developed using our proprietary underwriting system and automated technology platform.
"Together, Sunrock and Nelnet are on a journey to help local businesses, public entities, and nonprofits save money and transition towards renewable energy, while contributing to a cleaner, greener future for generations to come," he adds.
Scott Gubbels, Executive Director of Renewable Energy at Nelnet, Inc. says, "Our partnership with Sunrock furthers Nelnet's commitment to renewable energy projects that deliver tangible environmental and economic benefits. We are excited to be working in close partnership with Sunrock's experienced team of financiers and operators in scaling out the origination, development, and construction of a diversified portfolio of distributed generation assets."
For more information about Sunrock and Nelnet Renewable Energy please visit the websites at <a href="http://www.sunrockdg.com/">www.sunrockdg.com</a>&nbsp;and <a href="http://www.nelnetenergy.com/">www.nelnetenergy.com</a>.

Sunrock DG And Nelnet Partner For Renewable Distributed Generation Projects

Press Releases

Nelnet Reports Second Quarter 2024 Results

Nelnet to Announce Third Quarter Results

Nelnet Reports Third Quarter 2024 Results

Nelnet and Edge Focus Deepen Partnership

Boston Omaha Corporation Announces Appointment of David S. Graff to Board of Directors

Dividends

Nelnet to Announce Fourth Quarter Results; Board Approves Dividend

Nelnet Reports Fourth Quarter 2024 Results

Fintech

Nelnet Expands Higher Education Footprint with Acquisition of Next Gen Web Solutions

Nelnet to Announce First Quarter Results

Edge Focus Closes Inaugural $150 Million ABS Deal, Launching Its Tech-Enabled Credit Platform Into the Capital Markets

MSAI

Ally Financial

Atlanticus Holdings Corporation - Common Stock

Atlanticus Holdings

American Express

Bread Financial Holdings, Inc. Common Stock

Bread Finl Hldgs

Credit Acceptance Corporation - Common Stock

Credit Acceptance

Capital One Financial Corporation Common Stock

Capital One Finl

Dave

Discover Financial servs

Enova International

EZCORP, Inc. - Class A Non-Voting Common Stock

EZCORP

FirstCash Hldgs

FinVolution Group American Depositary Shares

FinVolution Gr

Joint Stock Company Kaspi.kz - American Depository Shares

Kaspi.kz

LendingClub

Lufax Holding Ltd American Depositary Shares, each representing two (2) Ordinary Shares

Lufax Holding

LexinFintech Holdings Ltd. - American Depositary Shares

LexinFintech Holdings

MoneyLion Inc CL A

Comments

Nelnet

Notizie

PARTNER/COLLABORATORE

BENZINGA NEL MONDO