Thursday's Winners and Losers: American Dental Partners

Online travel site Orbtiz(OWW Quote) gave up some of its gains from Wednesday, and was down 82 cents, or 8.8%, to $8.60. The stock had been downgraded by Stifel Nicholaus to hold from buy last week citing increased competition and the possibility that a slowdown in consumer spending could affect travel. Orbitz had fallen nearly 4% following the downgrade.

Among the biggest financial decliners was Sallie Mae (SLM Quote). The student lender fell 11.2% after saying it will offer $2.5 billion in stock, consisting of $1.5 billion in common shares and $1 billion in mandatory convertible preferred shares.

Two billion dollars of the proceeds are planned for buying back around 44 million shares under an outstanding equity forward-purchase contract. Any remaining capital will go to general corporate purposes. Shares of the Reston, Va.-based firm dropped $2.48 to $19.65.

On the other hand, Fannie Mae (FNM Quote) and Freddie Mac (FRE Quote) each gained ground after the Office of Federal Housing Enterprise Oversight said that both mortgage investors had had more than enough cash in the third quarter. According to the regulator, Fannie's capital levels were 5.9% above the OFHEO-directed requirement, and Freddie had a 1.7% surplus above that threshold. Shares of the firms spiked 2.1% and 4%, respectively.

Shares of EMC(EMC Quote) were off after the company said it will acquire document management software company, Document Sciences(DOCX Quote), for $85 million. The deal is expected to close in the first quarter of 2008. Document Sciences shareholders will receive $14.75 a share in cash -- a 79% premium to the stock's closing price of $8.23 Wednesday, said EMC. EMC was off 49 cents, or 2.6%, to $18.47. Shares of Document Sciences jumped $6.26, or 76%, to $14.49.