Business lender CIT Group Inc. agreed to sell its student-lending business to Nelnet Inc., (NYSE:NNI) which is buying the federal family education loans and related assets for $3.6 billion. The deal, which both companies announced in separate filings with the Securities and Exchange Commission, includes $2.6 billion of securitized student loans and related assets under a stock-purchase agreement, and about $950 million of unsecuritized student loans. Nelnet, Inc. (NYSE:NNI) shares after opening at $40.21 moved to $43.89 on last trade day and at the end of the day closed at $43.64. Company price to sales ratio in past twelve months was calculated as 3.21 and price to cash ratio as 39.50. Nelnet, Inc. (NYSE:NNI) showed a positive weekly performance of 9.43%.
Insteel Industries, Inc. (NASDAQ:IIIN) reported Q2 EPS of $0.19, versus $0.20 reported last year. Revenue for the quarter came in at $91.4 million, versus $82.9 million reported last year. Insteel Industries Inc. (NASDAQ:IIIN) shares advanced 16.89% in last trading session and ended the day on $23.95. IIIN return on equity ratio is recorded as 7.30% and its return on assets is 5.40%. Insteel Industries Inc. (NASDAQ:IIIN) yearly performance is 56.84%.
SGOCO Group, Ltd. (NASDAQ:SGOC) a company focused on product design, distribution and brand development in the display market, on 9 April announced the launch of a new flat screen display unit to target high-end markets, along with two upgraded versions of its Parts-In-One PC (“PIO”). SGOCO Group Ltd (NASDAQ:SGOC) shares moved up 30.21% in last trading session and was closed at $2.49, while trading in range of $1.95 – $2.49. SGOCO Group Ltd (NASDAQ:SGOC) year to date (YTD) performance is -26.64%.
Sorrento Therapeutics, Inc. (NASDAQ:SRNE) a late-stage clinical oncology company developing new treatments for cancer and its associated pain, on 7 April announced the addition of Ian B. Walters, M.D., MBA., a translational oncology and immunology expert. Dr. Walters was most recently an executive at Bristol Myers Squibb (BMS) where he led oncology drug development programs, large international matrix teams, and strategic transactions. Sorrento Therapeutics Inc. (NASDAQ:SRNE) weekly performance is 14.30%. On last trading day company shares ended up $10.55. Sorrento Therapeutics Inc. (NASDAQ:SRNE) distance from 50-day simple moving average (SMA50) is -10.77%. Analysts mean target price for the company is $24.00.
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