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Stock Market & Financial Investment News

News Breaks
August 5, 2014
10:04 EDTSALE, OCN, QLTI, LRE, PIKE, LRN, HCOM, ILIAF, FIVN, ESI, FRPOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: FairPoint (FRP) downgraded to Hold from Buy at Drexel Hamilton... Five9 (FIVN) downgraded at Pacific Crest... Hawaiian Telcom (HCOM) downgraded to Equal Weight from Overweight at Stephens... ITT Educational (ESI) downgraded to Underperform from Neutral at BofA/Merrill... Iliad (ILIAF) downgraded to Neutral from Buy at UBS... K12 (LRN) downgraded to Hold from Buy at Stifel... LRR Energy (LRE) downgraded to Market Perform from Outperform at Wells Fargo... Ocwen Financial (OCN) downgraded at Oppenheimer... Pike Electric (PIKE) downgraded to Hold from Buy at BB&T... QLT Inc. (QLTI) downgraded to Neutral from Buy at Roth Capital... RetailMeNot (SALE) downgraded at RBC Capital.
News For FRP;FIVN;HCOM;ESI;ILIAF;LRN;LRE;OCN;PIKE;QLTI;SALE From The Last 14 Days
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March 24, 2015
07:19 EDTOCNOcwen 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 EDTOCNOcwen to sell additional $25B portfolio to Nationstar
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March 23, 2015
20:02 EDTOCNOcwen receives notice of non-compliance with NYSE continued listings standards
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14:38 EDTOCNOcwen Financial volatility elevated
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07:43 EDTOCNOcwen issues rebuttal letter to trustees
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06:29 EDTOCNOcwen responds to investor allegations, WSJ says
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March 20, 2015
16:13 EDTOCND. John Devaney reports 6.37% passive stake in Ocwen
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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.
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
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11:35 EDTOCNOcwen intends to sell $9.6B portfolio of mortgage servicing rights to Green Tree
11:30 EDTOCNOcwen trading halted, pending news
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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
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07:44 EDTOCNJPMorgan to purchase $45B of mortage service rights from Ocwen, NY Post says
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07:33 EDTESIITT Educational receives notice from NYSE on late filing status
ITT Educational Services announced that it did not file its Annual Report on Form 10-K for the fiscal year ended December 31, 2014 on or before the due date of March 16, 2015. The company has received a notice from the NYSE that the company is subject to the NYSE's procedures under its timely filing criteria as a result of the company's failure to file the 2014 Form 10-K by the due date. Under NYSE rules, the company has six months from March 16, 2015 to file the 2014 Form 10-K. Until the company files the 2014 Form 10-K and all other periodic reports with subsequent due dates, its common stock will remain listed on the NYSE under the symbol "ESI," with a "LF" indicator to signify late filing status. The company can regain compliance with the NYSE listing standards during the six-month period once it files the 2014 Form 10-K with the SEC, but only if it has also filed all other periodic reports with subsequent due dates. The company is still evaluating the full impact of the consolidation of the 2009 Entity on these matters, and therefore cannot provide any assurance that the consolidation of 2009 Entity will not have a material negative impact on these matters, which could result in a material adverse effect on the company's results of operations, financial condition and/or cash flows. Further, the company did anticipate that it may be in noncompliance with certain covenants under its financing agreement.
March 17, 2015
17:31 EDTESIITT Educational files to delay Form 10-K
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14:33 EDTFIVNFive9 board member stock purchase a bullish sign, says JPMorgan
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13:10 EDTOCNJPMorgan could acquire Ocwen's Fannie MSR portfolio, IMF reports
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