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Stock Market & Financial Investment News

News Breaks
March 14, 2014
12:17 EDTNSM, GM, OCNNationstar 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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November 27, 2015
06:14 EDTNSMNationstar price target lowered to $33 from $40 at UBS
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November 23, 2015
06:24 EDTGMGM uses KBB to offer targeted incentives, Automotive News reports
General Motors has turned to Kelley Blue Book's website to offer targeted incentives to customers, Automotive News reports. Reference Link
November 22, 2015
18:46 EDTGMUAW union ratifies General Motors agreement
The United Auto Workers announced that its international executive board has formally ratified the national labor agreement with General Motors. The union explained that, after its proposed agreement with GM was blocked by the union's skilled trades members, it held meetings with those members and subsequently presented their concerns to both union leadership and GM itself. Following those discussions, the parties agreed to changes that "protect core trades classifications and seniority rights," according to UAW. Reference Link
November 19, 2015
07:55 EDTGMGM's Reuss: Company 'deeply committed' to EVs, FT says
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November 18, 2015
09:32 EDTGMThe House Oversight & Government Reform Committee to hold a hearing
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07:57 EDTGMBarclays to hold a conference
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November 16, 2015
09:59 EDTGMOmega bought Valeant in Q3, sold some SuneEdison
Leon Cooperman's Omega Advisors gave a quarterly update on its stakes in a filing this morning, disclosing its positions as of September 30. NEW STAKES: Pfizer (PFE), Valeant (VRX) Walgreens Boots Alliance (WBA), TerraForm Global (GLBL), Cigna (CI). INCREASED STAKES: Google Class A (GOOGL), Facebook (FB), Delta Air Lines (DAL). DECREASED STAKES: SunEdison (SUNE), Shire (SHPG), Citi (C), KAR Auction (KAR), LyondellBasell (LYB). LIQUIDATED STAKES: McKesson (MCK), 21st Century Fox (FOXA), General Motors (GM), QEP Resources (QEP), eBay (EBAY).
07:36 EDTGMBerkshire Hathaway discloses new AT&T stake in quarterly update
Berkshire Hathaway gave a quarterly update on its stakes in a filing this morning. NEW STAKES: AT&T (T), Kraft Heinz (KHC), Liberty Lilac Group (LILA). INCREASED STAKES: Phillips 66 (PSX), Charter (CHTR), Liberty Media (LMCK), Suncor (SU), General Motors (GM). DECREASED STAKES: Goldman Sachs (GS), Wal-Mart (WMT), Deere (DE), Chicago Bridge & Iron (CBI), WABCO (WBC). LIQUIDATED STAKES: Viacom (VIAB).

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