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Why Did the Market Sentiment Improve on September 28?

PART:
1 2 3 4 5 6
Part 5
Why Did the Market Sentiment Improve on September 28? PART 5 OF 6

Navient: S&P 500’s Top Loser on September 28

Top losers

The S&P 500’s top losers on September 28, 2017, were:

  • Navient (NAVI) fell 3.9%.
  • TripAdvisor (TRIP) fell 3.5%.
  • Gilead Sciences (GILD) fell 3.5%.
  • Range Resources (RRC) fell 3.4%.
  • Mylan Nv Ord Shs (MYL) fell 3.4%.

Navient: S&amp;P 500’s Top Loser on September 28

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Navient 

Navient, which has operations that include servicing and collecting on student loans, was the S&P 500’s top loser on Thursday.

Navient rose in November 2016 after President Trump’s election win. The expectations of an increase in student loans under the Trump Administration supported Navient and pushed it above $17.5. However, the stock lost strength after reaching close to $18 and fell 17% from the 52-week high amid the market’s dented sentiment on Navient. Criticism about how Navient treats its customers and lawsuits about mistreating borrowers made the stock fall more.

On September 28, Navient fell 3.9% and closed the day at $14.92.

TripAdvisor

TripAdvisor, which is a travel website that provides hotel bookings and reviews, was one of the S&P 500’s top losers on September 28. TripAdvisor reached four-month high price levels in the first week of September and started to fall after that.

On Thursday, the weakness in TripAdvisor came after Morgan Stanley downgraded Trivago (TRVG). Morgan Stanley downgraded Trivago from “overweight” to “equal weight” by revising its price target lower to $12. Increasing headwinds along with a decrease in the money spent by travel agents on Trivago caused analysts to downgrade Trivago.

On September 28, TripAdvisor fell 3.5% to $40.46—the lowest daily close in five weeks.

In the next part, we’ll discuss how Gilead Sciences and Range Resources performed on September 28.

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