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$NAVI completed its 1st FFELP ABS transaction in 1Q16 followed by a second sale in early April. Combined, company has now issued $1.6Bil in FFELP ABS bonds. $NAVI also completed an extension of its FFELP ABCP facility, pushing the maturity date to 2018 and raising the maximum financing amount to $7.5Bil.
No better outlook on $MSFT. Even if the results beat a bit, the stock may move 4 to 6% higher, but won't go above $60.