Shares of Navient Corp. fell after the student loan management and servicing company forecast second-quarter earnings below the Wall Street consensus and cut its outlook for the year. Shares of Navient, which had been halted after hours prior to the news, dropped 14% to $15.82 on moderate volume. The company sees core earnings of 40 cents a share for the second quarter, and $1.85 a share for the year. Analysts surveyed by FactSet had expected 55 cents a share for the second quarter, and $2.19 a share for the year. Navient cited reduced net interest income from an increased cost of funds, and said it removed additional private loan acquisitions from its guidance.
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