Allied Capital (ALD Quote) slid more than 6% after David Einhorn of hedge fund Greenlight Capital called for the sacking of the investment firm's management team. In an open letter to the company, he decried a "pattern of fraud" at Business Loan Express, a company owned by Allied. Shares were falling $1.93 to $28.08.
Nelnet (NNI Quote) jumped after the student lender settled a dispute with the U.S. Department of Education. The settlement will enable Nelnet to retain certain loans payments received through June 2006 but forfeit the right to any subsequent payments on the disputed subsidies. Bear Stearns upgraded the stock to outperform. Shares were up 93 cents, or 3.6%, to $26.79. Dollar Financial (DLLR Quote) was higher after the Pennsylvania-based firm issued higher revenue guidance for the quarter ended Dec. 31. Shares were gaining 57 cents, or 2.2%, to $26.10. Kohlberg Capital (KCAP Quote) rose after a Stifel Nicolaus analyst stamped a buy rating on the closed-end investment fund, and a Lehman Brothers analyst began his coverage on the company with an overweight rating. Shares were adding 64 cents, or 3.9%, to $17. Virginia Financial (VFGI Quote) fell after the regional bank reported a 4.4% decline in fourth-quarter profit to $5 million, or 44 cents a share. Shares were down $1.24, or 4.6%, to $25.58.- Loading Comments...
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