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Oct 21, 2009 - 12:23 PM EDT
Sallie Mae (SLM) turned a profit of 25 cents per share in the third quarter, up from a 40 cent loss in the same quarter last year. Investors were encouraged by estimates of lower loan loss provisions and more stability in the credit markets, which the company said will drive an estimated profit of a dollar 50 per share looking ahead to 2010. Shares jumped 18% in Wednesday morning trading. Agricultural and construction equipment maker CNH Global (CNH) posted an 11 cent loss for the quarter, but that beat consensus estimates. The company had earned a dollar 6 per share in the same quarter last year. Looking ahead, CNH said it remains optimistic about its future prospects, but forecast a 25 to 30 percent drop in equipment operations' net sales for 2009. CNH shares advanced more than 11 and a half percent. And Oppenheimer gave shares of Clearwater Paper (CLW) a boost, initiating coverage with an outperform rating. Clearwater makes tissue for private label use by grocery store chains, and also manufactures bleached paperboard and wood products. The company is scheduled to report its third quarter results a week from tomorrow. Shares of Clearwater gained more than 10% in early trading Wednesday. For MarketNewsVideo.com, I'm Sayoko Murase.Source: Market News Video (Oct 21, 2009 - 12:23 PM EDT)
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