News Breaks |
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| July 29, 2012 |
| 10:38 EDT |  | HSIC, OAK, ASPS, AXP, GS, LOPE, OCN | Doug Kass pans Goldman, picks Altisource and Ocwen, Barron's says
Douglas Kass of Seabreeze Partners sees trouble ahead for Goldman (GS) and a positive future for two mortgage servicers Altisource (ASPS) and Ocwen (OCN), Barron's reports. Kass believe Goldman is a value trap because of the cyclical and secular influences. "The swashbuckling style that created 25% to 30% returns from the business of proprietary trading are being buffeted by a wave of new regulations, market turmoil, bad PR." His price target is $80 a share. Kass has it in a paired trade that is long Oaktree Capital (OAK), a defensive alternative-asset manager that trades at a discount to its peers. Kass says the real positive influence of the U.S. economy to him is the housing market, which is embarking on a durable multi-year recovery that will continue through the balance of the decade. Two beneficiaries are: Altisource and Ocwen. Kass says, Altisource is experiencing 45%-50% revenue growth and doubling earnings in a tepid environment. Kass sees Ocwen earning close to $2.50. He thinks Altisource will trade in excess of par, and in the next year or two -- Ocwen can go up as much as 50%. Other pans: Kass says private education is a very poor value proposition - his target on Grand Canyon Education (LOPE) is $8-$10 vs its current price of $17; American Express (AXP) the rate of growth in its bill business dropped by half in Q2 from Q1, principally because of exposure in Europe and earnings estimates face a geographic head wind; and Kass thinks Henry Schein (HSIC) will guide lower in the 2H because 35% of its revenue base is non-U.S.a. Also, dental expenses are postponable and discretionary. |
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News For ASPS;OCN;GS;OAK;LOPE;AXP;HSIC From The Last 14 Days Check below for free stories on ASPS;OCN;GS;OAK;LOPE;AXP;HSIC the last two weeks. |
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| May 21, 2013 |
| 09:33 EDT |  | GS | Bloomberg LINK to host a summit
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| 07:13 EDT | | GS | U.S. bank mergers less likely this year, Bloomberg reports
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| 07:12 EDT | | GS | Credit Suisse now second largest Asia prime broker, Reuters reports
The Asian prime brokerage unit of Credit Suisse (CS) replaced Morgan Stanley (MS) as the second largest firm servicing the region's $148B hedge funds industry, according to a survey by AsiaHedge. Goldman Sachs (GS) remains Asia's top prime broker with 179 clients and total assets under management of $24.6B, reports Reuters.Reference Link |
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| 06:10 EDT | | GS | On the Fly: Periodicals Wrap-Up
WALL STREET JOURNAL: JPMorgan Chase (JPM) plans to shake-up of its board even if every director wins re-election at today’s shareholder meeting and James Dimon keeps his dual job as chairman and CEO, the Wall Street Journal reports...Mutual-fund firms are joining activist investors in getting more aggressive over demands for change in how board members are paid at U.S. companies. Activist investors have been experimenting more frequently with incentive pay packages for the board members they nominate in proxy fights, the Wall Street Journal reports...REUTERS: Specialty chemicals producer Rockwood Holdings’s (ROC) pigments businesses have attracted offers from buyout firms including Blackstone Group (BX) and Advent International, sources say, Reuters reports...The Asian prime brokerage unit of Credit Suisse (CS) replaced Morgan Stanley (MS) as the second largest firm servicing the region's $148B hedge funds industry, according to a survey by AsiaHedge. Goldman Sachs (GS) remains Asia's top prime broker with 179 clients and total assets under management of $24.6B, Reuters reports...BLOOMBERG: Bank managers in the U.S. are less likely to engage in mergers and acquisitions this year as regulators heighten scrutiny on potential deals and sellers wait for higher valuations, according to a KPMG survey, Bloomberg reports...PIMCO’s Bill Gross says the bull market for bonds may have ended last month. But investors are staying put. Four years into the biggest rally in U.S. stocks since 2000, bond mutual funds are attracting more money than their equity counterparts, Bloomberg reports. |
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| 05:46 EDT | | GS | Thomson Reuters, others to challenge Bloomberg messaging, WSJ reports
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| May 20, 2013 |
| 16:06 EDT |  | OAK | Oaktree Capital files to sell 6M shares of common stock
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| 09:58 EDT | | AXP | American Express management to meet with Buckingham
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| 06:41 EDT | | GS | Goldman Sachs seeking to sell stake in Chinese bank, Reuters reports
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| May 16, 2013 |
| 14:47 EDT | | LOPE | Grand Canyon management to meet with JPMorgan
Meeting to be held in Boston on May 21 hosted by JPMorgan. |
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| 09:05 EDT |  | GS | SolarCity, Goldman Sachs collaborate on solar lease financing platform
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| 06:41 EDT | | GS | Big banks to benefit from U.S. concession on derivatives, NY Times says
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| 06:19 EDT |  | GS | U.K. judge rules Goldman Sachs tax deal didn’t break law, Bloomberg reports
Goldman Sachs Group's deal with the U.K. government that may have saved the investment bank about $30.6M on its taxes didn’t break any laws and was properly conducted, a judge ruled, reports Bloomberg. Reference Link |
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| May 15, 2013 |
| 13:17 EDT | | GS | Goldman Sachs COO says will address Fed's CCAR concerns
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| 13:15 EDT | | GS | Goldman Sachs COO says wouldn't cut equities on first move by Fed
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| 13:15 EDT | | GS | Goldman Sachs volatility near low end of historic range
Goldman Sachs June call option implied volatility is at 21, July and October is at 22; compared to its 26-week average of 25 according to Track Data, suggesting decreasing price movement. |
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| 12:05 EDT | | AXP | American Express reports April net write-off rate 2.1% vs. 2.0% last month
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| 06:34 EDT | | GS | JPMorgan CEO has obtained advice from Goldman counterpart, NY Times says
JPMorgan (JPM) CEO Jamie Dimon has spoken with his counterpart at Goldman Sachs (GS), Lloyd Blankfein, a number of times in recent months about the challenges that Dimon is facing, according to The New York Times, which cited unnamed sources. Reference Link J |
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| May 14, 2013 |
| 16:29 EDT | | OAK | Oaktree Capital files automatic mixed securities shelf
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| 09:01 EDT | | GS | NVIDIA in $750M accelerated share repurchase pact with Goldman Sachs
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| 08:33 EDT | | GS | CFTC investigates swap contracts, FT reports
The Commodity Futures Trading Commission issued a “special call” asking Wall Street banks and other traders to provide documents that would prove recent derivatives transactions known as “exchanges of futures for swaps” were legal. Lawyers at the CFTC enforcement division are also scrutinizing the trades for possible violations. The probe is into the legitimacy of more than 1M energy and metals transactions by the biggest traders in commodities markets over the past two years.Reference Link |
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