New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News For BAC;OCN;WIC;NSM From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
<< 1 | 2 | all recent news | >>
March 27, 2015
13:47 EDTBACBofA Merrill's John Cavanagh leaves bank, Reuters reports
Subscribe for More Information
09:37 EDTBACGoldman Sachs overtakes JPMorgan in commodities rankings, Reuters says
Subscribe for More Information
March 26, 2015
11:50 EDTOCNOcwen moves up after Inside Mortgage Finance discusses possible sale
Reference Link
11:46 EDTBACBofA: Naming CEO Moynihan chairman followed 'probing independent review'
Subscribe for More Information
08:17 EDTBACSEC Chairwoman proposes new 'dark pool' regulation, NY Post says
Securities and Exchange Commission Chairwoman Mary Jo White proposed new regulation Wednesday that would require high-frequency traders to register with the Financial Industry Regulatory Authority and provide the agency with a daily paper trail, reports the New York Post. The Post notes that there is a 60-day comment period before any SEC rule is finalized. Publicly traded companies in the space include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
08:03 EDTNSMNationstar weakness creates buying opportunity, says Wells Fargo
After Nationstar announced a secondary share offering of 17.5M shares, Wells Fargo says the resulting decline in the stock is a buying opportunity as the company is in a strong position for further transfer opportunities. The firm keeps an Outperform rating on the shares.
March 25, 2015
16:21 EDTNSMOn The Fly: Closing Wrap
Stocks opened in quiet fashion and trading remained that way throughout most of the morning. The averages broke to the downside a bit before noon and once the sellers gained control the move became broad based. Each of the major equity averages dropped by about 1.5% or more, with the Nasdaq losing more than 2% of its value during the session. ECONOMIC EVENTS: In the U.S., durable goods orders dropped 1.4% in February, falling well below the consensus call for a 0.2% rise for the month. Transportation orders fell 3.5%, with orders excluding transportation down 0.4% against expectations of a 0.2% positive movement. In Europe, Germany's Ifo institute business climate index rose to 107.9 from 106.8 in March, topping expectations. COMPANY NEWS: Kraft Foods (KRFT) surged $21.84, or 35.62%, to $83.17 after announcing it has entered a definitive merger agreement with H.J. Heinz to create the Kraft Heinz Company. Under the terms of the deal, Heinz-owners Berkshire Hathaway (BRK.A) and 3G Capital will fund a special $10B cash dividend of $16.50 per share for Kraft shareholders. The new company, which will be publicly traded and 49% owned by current Kraft shareholders 51% owned by current Heinz shareholders, will become the third-largest food and beverage company in North America and fifth largest food and beverage company in the world. MAJOR MOVERS: Among the notable gainers was Kofax (KFX), which jumped $3.45, or 46%, to $10.95 after agreeing be acquired by Lexmark (LXK) for $11.00 per share in cash for a total enterprise value of approximately $1B, net of cash acquired. Lexmark, which stated the deal will "nearly double" its enterprise software business to roughly $700M, also gained $2.48, or 6.08%, to $43.27. Among the noteworthy losers was Apollo Education Group (APOL), which fell $7.95, or 28.4%, to $20.04 after reporting Q2 earnings and University of Phoenix enrollment information. Also lower were shares of Nationstar Mortgage (NSM), which declined $5.15, or 16.54%, to $25.99 after its 17.5M share spot secondary offering of stock priced at $28.95 per share. INDEXES: The Dow declined 292.60, or 1.62%, to 17,718.54, the Nasdaq fell 118.21, or 2.37%, to 4,876.52, and the S&P 500 dropped 30.45, or 1.46%, to 2,061.05.
09:24 EDTNSMOn The Fly: Pre-market Movers
Subscribe for More Information
09:00 EDTNSMNationstar 17.5M share Spot Secondary priced at $28.95
Subscribe for More Information
07:44 EDTNSMNationstar estimates lowered on capital raise at Credit Suisse
Subscribe for More Information
06:38 EDTOCNCiti puts high risk rating on Ocwen, cuts target to $9
Subscribe for More Information
March 24, 2015
16:10 EDTNSMNationstar files to sell 17.5M shares of common stock
Nationstar intends to use the net proceeds from this offering for general corporate purposes, which may include future acquisitions, transfers of servicing portfolios, funding of advances and repayment of obligations, including corporate indebtedness. These acquisitions are expected to include the acquisition of $60B unpaid principal balance of mortgage servicing rights in process or under letters of intent as of the date of the prospectus supplement, the consummation of which is subject to definitive documentation, regulatory approvals, and/or other customary conditions. Citigroup, Barclays and J.P. Morgan are acting as the underwriters for the offering.
09:22 EDTOCN, NSMOn The Fly: Pre-market Movers
Subscribe for More Information
07:45 EDTBACMetLife CEO letter may be early sign of bank earnings headwinds, WSJ says
Subscribe for More Information
07:19 EDTOCN, NSMOcwen to sell additional $25B portfolio to Nationstar
Ocwen Financial (OCN) announced that its subsidiary, Ocwen Loan Servicing and Nationstar Mortgage, an indirectly-held, wholly-owned subsidiary of Nationstar Mortgage Holdings (NSM) have agreed in principle to the sale by Ocwen of residential mortgage servicing rights on a portfolio consisting of approximately 142,000 loans owned by Freddie Mac (FMCC) and Fannie Mae (FNMA) with a total principal balance of approximately $25B. Subject to a definitive agreement, approvals by Freddie Mac, Fannie Mae and FHFA and other customary conditions, Ocwen and Nationstar expect the transaction to close before mid-year.
07:17 EDTNSM, OCNOcwen to sell additional $25B portfolio to Nationstar
Subscribe for More Information
March 23, 2015
20:02 EDTOCNOcwen receives notice of non-compliance with NYSE continued listings standards
Subscribe for More Information
14:38 EDTOCNOcwen Financial volatility elevated
Subscribe for More Information
09:56 EDTBACMassachusetts securities regulator fines Merrill Lynch $2.5M, Reuters reports
Massachusetts Secretary of the Commonwealth William Galvin has fined Bank of America's Merrill Lynch unit $2.5M for failing to supervise employees properly, Reuters reports. Merrill, Lynch, Pierce, Fenner & Smith was accused of failing to stick to its own compliance rules. Reference Link
07:43 EDTOCNOcwen issues rebuttal letter to trustees
Subscribe for More Information
06:29 EDTOCNOcwen responds to investor allegations, WSJ says
Subscribe for More Information
March 20, 2015
16:13 EDTOCND. John Devaney reports 6.37% passive stake in Ocwen
Subscribe for More Information
10:36 EDTBACBank of America changes bylaws to allow some investors to nominate directors
Subscribe for More Information
07:25 EDTOCNOcwen enters into amendment to OMART advance financing facility
Ocwen said in a filing that on March 19, the company entered into an amendment to its OMART advance financing facility clarifying the appropriateness of adding back the $150M New York Department of Financial Services charge as an extraordinary item for certain covenant calculations.
05:57 EDTBACBank of America faces pressure to defend structure, Financial Times reports
Bank of America will have to defend its current structure at its annual meeting in May after the SEC allowed a small shareholder the right to challenge the board on a break-up, reports the Financial Times. Bank of America's board could be under pressure to appoint a committee to examine a plan for divesting all non-core banking businesses if a proposal from Barlett Naylor of Public Citizen is adopted. Reference Link
March 19, 2015
11:53 EDTBACU.S. banks face headwinds in unloading oil loans, WSJ says
Subscribe for More Information
06:30 EDTBACSEC says BofA must put investment bank spinoff to shareholder vote, Reuters says
The SEC has told Bank of America that it must allow shareholders to vote on whether the company will attempt to spin off its investment bank unit, reports Reuters, citing a decision by the Securities and Exchange Commission. A bank spokesperson said the company "will respond to the proposal in our proxy statement." Reference Link
March 18, 2015
11:44 EDTOCNOcwen reopens after announcing MSR deal with Walter Investment
Ocwen (OCN) shares are up fractionally shortly after reopening for trading.
11:37 EDTOCNWalter Investment jumps 7% after subsidiary agrees to buy MSRs from Ocwen
11:36 EDTOCNOcwen intends to sell $9.6B portfolio of mortgage servicing rights to Green Tree
Subscribe for More Information
11:35 EDTOCNOcwen intends to sell $9.6B portfolio of mortgage servicing rights to Green Tree
11:30 EDTOCNOcwen trading halted, pending news
Subscribe for More Information
09:27 EDTOCNHome Loan Servicing says requires additional time to file Form 10-K
Home Loan Servicing Solutions said in a filing that on March 3, the company filed a Form 12b-25 indicating that additional time to complete its Annual Report on Form 10-K for the year ended December 31, 2014 was necessary in order to complete the assessment of recent events related to the company’s business and determine the impact on the company’s financial statements and related disclosures. At that time, the company expected to file its Form 10-K within the 15 day extension period. The company requires additional time to prepare information related to its ability to operate as a going concern and to provide such information to the auditors for the purposes of their audit of the company's financial statements for the year ended December 31, 2014.
09:25 EDTOCNOcwen says continues to analyze HLSS' ability to continue to meet obligations
Subscribe for More Information
07:44 EDTOCNJPMorgan to purchase $45B of mortage service rights from Ocwen, NY Post says
Subscribe for More Information
07:10 EDTBACPlatts to hold a forum
11th Annual Steel Markets North America is being held in Chicago on March 17-18.
March 17, 2015
13:10 EDTOCNJPMorgan could acquire Ocwen's Fannie MSR portfolio, IMF reports
Subscribe for More Information
08:34 EDTBACBank of America reinstated with an Outperform at Raymond James
Subscribe for More Information
March 16, 2015
10:22 EDTBACBank of America February default rate 2.98% vs. 2.93% last month
Reports February delinquency rate 1.86% vs. 1.83% last month.
<< 1 | 2 | all recent news | >>

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the theflyonthewall.com disclaimer & terms of use