First Marblehead(FMD Quote) surged after the Boston-based educational loan processor said it will generate more fees from an asset-backed securities deal than expected.
The company says it will receive an $173.3 million advisory fee from a $1.84 billion asset-backed securities deal with the National Collegiate Student Loan Trust. The advisory fee is down slightly from the firm's earlier estimate. But First Marblehead now says it expects to collect an additional $53 million at a future date. Shares gained $2.39, or 3.62%, to $68.39.
Forest City Enterprises(FCE-A Quote) gained after the Cleveland-based property manager said its board approved a quarterly dividend of 7 cents a share, an annual rate of 28 cents a share. Shares gained $133, or 2.4%, to $56.09. ...
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