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Stock Market & Financial Investment News

News Breaks
March 14, 2014
12:17 EDTOCN, NSM, GMNationstar advances after Kyle Bass ups stake
Shares of mortgage servicer Nationstar Mortgage (NSM) are climbing after hedge fund Hayman Capital announced earlier this morning that it had increased its stake in the company to 5.3% from about 1.2%. WHAT'S NEW: In an interview earlier today on CNBC, Hayman Capital Managing Partner Kyle Bass indicated that the firm was upbeat on Nationstar's outlook in the mortgage sector. About $1.8T of mortgages have moved to nonbank servicers like Nationstar from banks, Bass stated. More importantly, companies like Nationstar are much more effective at servicing mortgages than banks, he said. "We think that this market opportunity will grow from $10 trillion to $11-$12 trillion over the next five years, and (the companies') servicing profitability will increase annually as the number of delinquent loans drop," the hedge fund manager stated. Asked about an investigation launched earlier this month by New York Superintendent of Financial Services Benjamin Lawsky into Nationstar, Bass said, "New York is important but it's one state." Moreover, the ratio of complaints per delinquent loan handled by Nationstar is 1.9%, versus an average ratio of 7% for banks, Bass stated. Nationstar's ratio in this area is also lower than that of all of its peers, the hedge fund manager noted. WHAT'S NOTABLE: The second best ratio of complaints per delinquent loans in the mortgage service industry is held by Ocwen Financial (OCN), Bass reported. Addressing a separate issue, Bass said that General Motors (GM) is "one of the cheapest companies" in the S&P Index, and should reach the high $40s or $50 in the next 18 months. PRICE ACTION: In late morning trading, Nationstar rose $1.50, or 4.8%, to $32.75. Ocwen climbed 4.6% to $40.80 and GM rose 2% to $34.50.
News For NSM;OCN;GM From The Last 14 Days
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April 20, 2015
14:16 EDTGMEinhorn lists AerCap, CBI, GM as new longs, Bloomberg reports
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11:35 EDTGMGeneral Motors ignition switch death claims rise to 87, WSJ reports
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09:02 EDTOCNOcwen discloses amendment to Senior Secured Term Loan Facility
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06:50 EDTGMTesla price target slashed to $165 at JPMorgan
After lowering its earnings estimates to reflect adverse currency moves, higher operating costs and slower than earlier expected Model X ramp, JPMorgan cut its price target for Tesla shares to $165 from $175. The stock closed Friday up 9c to $206.79. The firm dropped its Q1 earnings estimate to (38c) from (31c) despite the increase in Q1 deliveries preannounced by the electric car maker. JPMorgan keeps an Underweight rating on Tesla, the firm's equivalent to a sell. It maintains Overweight ratings on Ford (F) and General Motors (GM) with price targets of $19 and $46, respectively, ahead of the Q1 reporting season.
April 19, 2015
12:42 EDTGMGM China JV plans $16B investment in new car development, WSJ says
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April 16, 2015
06:33 EDTGMToyota engineer says charging electric cars quickly impractical, Reuters says
Charging electric vehicles quickly would place too much pressure on the electricity grid, Yoshikazu Tanaka, chief engineer of Toyota's hydrogen fuel-cell car Mirai, said, according to Reuters. If a car received enough electricity in 12 minutes to travel 310 miles, it would probably consume enough electricity to power 1,000 houses, the news service quoted Tanaka as saying. Prominent makers of electric cars include Tesla (TSLA), Nissan (NSANY), and GM (GM).Reference Link
April 15, 2015
19:20 EDTGMCo-lead counsel in GM ignition lawsuit will appeal bankruptcy shield ruling
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17:45 EDTGMJudge allows GM to remain shielded from pre-bankruptcy accidents, Reuters says
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16:47 EDTGMJudge says GM can keep 'shield' against pre-bankruptcy lawsuits, Reuters says
09:55 EDTGMBofA/Merrill U.S. autos analysts hold an analyst/industry conference call
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April 14, 2015
18:07 EDTGMGeneral Motors seeks to cut costs via longer term supply contracts, WSJ says
General Motors’ new purchasing chief said the company is trying to lock in its supplier contracts for a term covering two vehicle generations, or as long as a decade, in a bid to cut costs and gain access to advanced technology, The Wall Street Journal reports. Reference Link
09:13 EDTOCNOn The Fly: Pre-market Movers.
UP AFTER EARNINGS: JPMorgan Chase (JPM), up 1%... Johnson & Johnson (JNJ), up marginally... Triangle Petroleum (TPLM), up 4.2%... Fastenal (FAST), up 5%. ALSO HIGHER: Brainstorm Cell Therapeutics (BCLI), up 13.5% after announcing that it will present NurOwn Phase 2a clinical data at the Academy of Neurology annual meeting... Builders FirstSource (BLDR), up 7.2% after being upgraded to Buy from Hold at Stifel... Solazyme (SZYM), up 7.5% after announcing a strategic agreement with Flotek (FTK)... Cleveland BioLabs (CBLI), up 6.8% after receiving funding recommendation from the Department of Defense... Nordic American Tanker (NAT), up 3.2% after raising quarterly dividend to 38c from 22c... Ocwen (OCN), up 3.8% after reporting preliminary fiscal 2014 results. DOWN AFTER EARNINGS: Wells Fargo (WFC), down just under 1%. ALSO LOWER: Norfolk Southern (NSC), down 5.8% after being downgraded to Hold from Buy at TD Securities... RXi Pharmaceuticals (RXII), down 14.3% after filing to sell $20M of common stock and warrants... Arrowhead Research (ARWR), down 4.5% after being downgraded to Hold from Buy at Jefferies.
07:43 EDTOCNOcwen up 2.3% after reporting preliminary FY14 results
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07:43 EDTOCNOcwen expects to be profitable in FY15
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07:42 EDTOCNOcwen reports preliminary FY14 EPS ($4.18), may not compare to consensus 92c
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April 13, 2015
17:21 EDTGMGeneral Motors confirms raising quarterly dividend to 36c from 30c per share
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13:31 EDTGMDeath claims linked to GM ignition switches up to 84, WSJ reports
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12:58 EDTGMGM says it has resolved Bolt's technical challenges, Financial Times reports
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12:44 EDTGMFiat Chrysler interested in partnering with GM, Reuters says
Fiat Chrysler 9FCAU) CEO Sergio Marchionne is looking to make a "mega deal" before stepping down in early 2019 and has shown "particular interest" in partnering with GM(GM), according to Reuters. GM is strong in Asia, an area of weakness for Fiat Chrysler, while GM is looking to expand in Europe, the news service stated. Reference Link
07:16 EDTGMTechWeek to hold a conference
TechWeek Detroit 2015 is being held in Detroit on 4/13-19.
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