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Stock Market & Financial Investment News

News For AIV;ARE;BXP;FAST;GGP;OCN;SPG;SCCO;EVER;SBUX;MNST;CVX;CP From The Last 14 Days
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December 22, 2014
12:18 EDTOCNOn The Fly: Midday Wrap
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10:46 EDTCVXActive calls
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09:37 EDTOCNErbey steps down as Chair of Ocwen, related Altisource companies
Ocwen Financial (OCN) reported earlier that founder William Erbey will step down from his position as Executive Chairman of Ocwen, effective January 16, 2015. Barry Wish, a current director of Ocwen, will assume the role of Non-Executive Chairman on that date. Additionally, Altisource Asset Management (AAMC) announced that Erbey is stepping down from his position as Director and Chairman of the Board of Directors and that CEO Ashish Pandey has been appointed Chairman. Altisource Portfolio Solutions S.A. (ASPS) also announced that Erbey is stepping down from his position as Director and Chairman of the Board of Directors of Altisource and that Timo Vättö has been appointed as Chairman. Altisource Residential (RESI) also announced that Erbey is stepping down from his position as Director and Chairman of the Board of Directors of the company and that David Reiner, a current independent Director of the company, has been appointed Chairman. All of the changes above are effective January 16, 2015, and have been made in connection with the Consent Order entered into by Ocwen Financial with the New York Department of Financial Services.
09:34 EDTOCNAltisource says William Erbey to step down as chairman
Altisource Portfolio Solutions S.A. (ASPS) announced that William C. Erbey is stepping down from his position as Director and Chairman of the Board of Directors of Altisource and that Timo Vättö, 50, has been appointed as Chairman, effective January 16, 2015. Erbey, who served as Director and Chairman of Altisource since August 2009, continues to be Altisource's largest shareholder, and stepped down in connection with the Consent Order entered into by Ocwen Financial Corporation (OCN) with the New York Department of Financial Services.
09:24 EDTOCNOn The Fly: Pre-market Movers
HIGHER: Caesars Entertainment (CZR), up 23.8% following agreement to merge with Caesars Acquisition (CACQ)... Synthetic Biologics (SYN), up 8.6% following positive topline results from SYN-004 Phase 1a trial... Advaxis (ADXS), up 6.1% after Adage Capital Partners reports 18.84% passive stake in Advaxis... TASER (TASR), up 4.25% following multiple orders of Smart Weapons and Conducted Electrical Weapons... BioCryst Pharmaceuticals (BCRX), up 3.4% after RAPIVAB receives FDA approval... Herbalife (HLF), up 1.4% following a New York Post report that the FDA asked the company to stop airing a video claiming FDA approval. LOWER: Ocwen Financial (OCN), down 10.5% following settlement agreement with New York Department of Financial Services. NOTABLE: Enanta Pharmaceuticals (ENTA), up 11.8% following FDA approval of AbbVie's Viekira Pak... AbbVie is (ABBV) is up 2.4% following FDA approval of Viekira Pak and that Express Scripts (ESRX) will expand access to Viekira Pak... Express Scripts is trading marginally higher... Gilead Sciences (GILD), down 11.3% after Express Scripts picks AbbVie for hepatitis C.
09:05 EDTOCNOcwen agrees to settlement with New York DFS
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06:08 EDTOCNOcwen's executive chairman to step down as part of NY settlement, WSJ reports
Ocwen Financial's executive chairman, William Erbey, will step down next month as part of a legal settlement with the New York Department of Financial Services, The Wall Street Journal reported, citings sources. Under the terms of an agreement that could be signed as early as today, Ocwen will acknowledge that it did not deal with distressed homeowners properly, may have saddled them with excessive charges from affiliated companies and also did not maintain adequate systems for servicing hundreds of billions of dollars in mortgages. Ocwen will also pay $150M toward New York housing programs and aid to foreclosed homeowners, the sources say. Reference Link
December 21, 2014
19:45 EDTCVXSaudis say oil prices will recover as global economies grow,The Independent says
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16:42 EDTCVXSaudis say no cut in oil production is forthcoming, Reuters says
Signalling that it will ride out the recent volatility in oil markets, Saudi Arabia said it will not cut oil production even if non-OPEC nations did so, Reuters reports. "If they want to cut production they are welcome: We are not going to cut, certainly Saudi Arabia is not going to cut," commented Saudi Oil Minister Ali al-Naimi. Publicly traded companies in the space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT). Reference Link
11:32 EDTCVXChevron, Occidental Petroleum, three others look cheap, Barron's says
Chevron (CVX), Occidental Petroleum (OXY), Shell (RDS.A, RDS.B), EOG Resources (EOG), and Schlumberger (SLB) look cheap due to the drop in oil prices and this could be an opportunity to buy, Barron's contends in its cover article. Reference Link
December 18, 2014
08:50 EDTOCNOcwen facing new probe over delays on underwater home sales, Bloomberg says
The New York Department of Financial Services and the Consumer Financial Protection Bureau are investigating whether Ocwen improperly delayed short sales by borrowers who are underwater on their homes, according to Bloomberg, citing two people briefed on the case. A spokeswoman for Ocwen said the company “has no desire to delay short sales” and that costs increase when the process is prolonged, Bloomberg noted. Reference Link
06:19 EDTCVXChevron halts plants to drill for oil in Arctic waters 'indefinitely,' WSJ says
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December 17, 2014
13:02 EDTCPCanadian Pacific in agreement with TSB incident report on Bonnybrook Bridge
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09:00 EDTSBUXEU expanding 'sweetheart' tax probe, WSJ reports
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08:03 EDTCVXFMC Technologies awarded $268M subsea systems contract for Chevron project
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December 16, 2014
15:53 EDTMNSTBrandon limited reports 12.5% stake in Monster Beverage
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11:42 EDTSPGSimon Property management to meet with Evercore ISI
Meeting to be held in New York on December 17 hosted by Evercore ISI.
09:59 EDTMNSTOn The Fly: Analyst Upgrade Summary
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08:58 EDTOCNOcwen says will file corrective action plans as needed based on OMSO report
Ocwen Financial has been working closely with the Office of Mortgage Settlement Oversight, or OMSO, on two issues identified in the report covering the first six months of 2014, the National Mortgage Settlement Monitor said in a public filing, according to the company. OMSO's fourth report on mortgage servicers' compliance with the National Mortgage Settlement discloses two items that precluded the Monitor from reporting on Ocwen's progress for the first half of 2014. The first concerns the processes used by the company's NMS Internal Review Group and was flagged by a complaint from an IRG employee. The IRG is responsible for reporting on Ocwen's compliance with the NMS. The second issue concerns the letter dating issue raised by the New York Department of Financial Services in October. To the extent the Monitor determines that Ocwen did not meet the minimum compliance standards mandated by the NMS in any period, Ocwen will file a corrective action plan in accordance with the NMS protocols.
08:12 EDTMNST, MNSTMonster Beverage upgraded to Buy from Outperform at CLSA
CLSA upgraded Monster (MNST) to Buy and raised estimates to reflect higher international growth forecasts from its partnership with Coca-Cola (KO). Price target raised to $130 from $110.
06:45 EDTOCNRegulator says Ocwen reports unreliable, NY Times reports
A monitor put in place as part of a mortgage settlement between banks and the government said he could not rely on information provided by Ocwen Financial, according to The New York Times.The monitor, Joseph Smith, Jr., said he concluded that he could not rely on Ocwen's reports for the first half of 2014, the newspaper explained. Ocwen said it would seek to allay Smith's concerns, The Times reported.
December 15, 2014
15:39 EDTCVXChevron said to plan to pull out of Ukraine gas deal, Reuters reports
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December 14, 2014
17:07 EDTCVXOPEC's Badri says group will withstand oil price fall, Reuters says
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December 12, 2014
16:06 EDTOCNOcwen announces $253M early buyout of mortgages from Ginnie Mae pools
Ocwen Financial announced the purchase of 1,705 delinquent FHA-insured loans with a principal balance of $253.1M from Ginnie Mae pools for which Ocwen Loan Servicing was already the servicer. The purchase was made by the company's mortgage servicing arm, Ocwen Loan Servicing, and closed on December 1. On the same day, the Ginnie Mae EBO Loans were sold to an unrelated third party. Ocwen Loan Servicing will remain the servicer of the loans. Ocwen's Ginnie Mae buyout program began in the first quarter of 2014. "We expect to execute more such purchases in the next few months, as long as market conditions are favorable," said John Britti, Chief Investment Officer.
14:46 EDTCVXChevron volatility elevated as shares trend lower
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13:31 EDTOCNOcwen misdating issue being reviewed by Treasury, Inside Mortgage Finance says
Ocwen’s misdating of loan modification letters has been a subject of focus for the NYDFS, as widely reported, but in the Treasury Department is now also reviewing what impact Ocwen's misdating may have had on the Making Home Affordable program, reported Inside Mortgage Finance. Reference Link
10:41 EDTCPHigh option volume stocks:
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10:01 EDTFAST, BXPOn The Fly: Analyst Initiation Summary
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10:01 EDTCPOn The Fly: Analyst Upgrade Summary
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07:22 EDTCPCanadian Pacific upgraded to Buy from Neutral at Buckingham
Buckingham upgraded Canadian Pacific to Buy based on continued visibility for near-term crude growth and the positive impact from a lower Canadian dollar that will offset weaker long-term crude by rail growth. Price target is $209.
07:11 EDTFASTFastenal initiated with a Buy at Stifel
Target $56.
06:51 EDTCVXBrent crude oil fell to five year low, Reuters reports
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06:09 EDTBXPBoston Properties initiated with a Neutral at DA Davidson
Target $140.
December 11, 2014
10:13 EDTAIVOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: ARIAD (ARIA) downgraded at Credit Suisse... AbbVie (ABBV) downgraded to Equal Weight from Overweight at Morgan Stanley... Aimco (AIV) downgraded to Hold from Buy at KeyBanc... Anglo American (AAUKY) downgraded to Underperform from Neutral at Exane BNP Paribas... Approach Resources (AREX) downgraded at Sterne Agee... CommVault (CVLT) downgraded to Neutral from Outperform at Macquarie... Fifth Street Senior (FSFR) downgraded to Perform from Outperform at Oppenheimer... Harmonic (HLIT) downgraded to Neutral from Buy at Sidoti... Macerich (MAC) downgraded to Hold from Buy at Deutsche Bank... Newell Rubbermaid (NWL) downgraded to Outperform from Strong Buy at Raymond James... Olin Corp. (OLN) downgraded at Longbow... Penn West (PWE) downgraded to Underperform from Neutral at BofA/Merrill... Prudential plc (PUK) downgraded to Neutral from Buy at Nomura... Semiconductor Manufacturing (SMI) downgraded to Hold from Buy at Jefferies... Suncor (SU) downgraded to Neutral from Buy at BofA/Merrill... Talisman Energy (TLM) downgraded to Underperform from Neutral at BofA/Merrill... Thompson Creek (TC) downgraded to Hold from Buy at Deutsche Bank... Toll Brothers (TOL) downgraded to Underperform from Sector Perform at RBC Capital... Travelers (TRV) downgraded to Neutral from Buy at UBS... United Therapeutics (UTHR) downgraded at Credit Suisse... Vera Bradley (VRA) downgraded to Underperform from Neutral at Sterne Agee.
06:33 EDTAIVAimco downgraded to Hold from Buy at KeyBanc
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05:44 EDTCVXStocks with implied volatility movement; CZR CVX
Stocks with implied volatility movement; Caesar's (CZR) 126, Chevron (CVX) 33 according to iVolatility.
December 10, 2014
16:44 EDTCVXOn The Fly: Closing Wrap
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16:00 EDTCVXOptions Update; December 10, 2014
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10:10 EDTGGPHigh option volume stocks
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09:36 EDTCVXActive equity options trading
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December 9, 2014
18:09 EDTCVXChevron FY15 CapEx plan delayed until 2015, Bloomberg says
Due to the recent slump in crude oil, Chevron will delay the release of its 2015 capital expenditure plan until early 2015, Bloomberg reports, citing a telephone interview with a company spokesperson. Reference Link
December 8, 2014
19:01 EDTCVXChevron subsidiary acquires three blocks offshore New Zealand
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18:12 EDTBXPBoston Properties declares special cash dividend of $4.50 per share
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10:00 EDTCPOn The Fly: Analyst Downgrade Summary
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08:02 EDTSPGSimon Property announces $2.5B of global development in 2015
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07:53 EDTCVXClimate for Exxon E&P acquisition improved by falling prices, WSJ says
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07:52 EDTSBUXStarbucks price target raised to $97 from $88 at Jefferies
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06:47 EDTSBUXStarbucks coverage resumed with a Conviction Buy at Goldman
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05:40 EDTCPCanadian Pacific downgraded to Neutral from Buy at Goldman
Goldman Sachs downgraded Canadian Pacific Railway to Neutral saying uncertainty around lower oil prices should drive a reduced multiple for shares. Goldman cut its price target for the rail operator to $202 from $223, but points out the company's crude business has yet to be impacted from lower oil prices. CP shares closed Friday down $2.57 to $191.58.
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