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Stock Market & Financial Investment News

News Breaks
July 16, 2014
07:19 EDTPFSI, NSM, HLSS, WACNationstar, Walter Investment downgraded to Underperform at Wells Fargo
Wells Fargo downgraded both Nationstar (NSM) and Walter Investment (WAC) to Underperform from Market Perform and reduced its sector weighting for Mortgage Servicers to Underweight from Market Weight after its cash flow analysis pointed to share downside. Wells also highlights the continued regulatory issues for the space. The firm lowered its price target range for Nationstar shares to $25-$27 from $29-$32 and for Walter to $22-$24 from $27-$32. Wells keeps Buy ratings on Home Loan Servicing (HLSS) and PennyMac (PFSI).
News For NSM;WAC;HLSS;PFSI From The Last 14 Days
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March 27, 2015
10:31 EDTHLSSOptions with increasing implied volatility
Options with increasing implied volatility: ZU ARWR HLSS CREE BMRN SWKS IOC CMG INFN HOT
March 26, 2015
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
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09:00 EDTNSMNationstar 17.5M share Spot Secondary priced at $28.95
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07:44 EDTNSMNationstar estimates lowered on capital raise at Credit Suisse
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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.
10:40 EDTHLSSOptions with increasing implied volatility
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10:32 EDTHLSSOptions with increasing implied volatility
Options with increasing implied volatility: MAC CMG HLSS PSEC ISRG AMZN CREE
09:22 EDTNSMOn The Fly: Pre-market Movers
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07:19 EDTNSMOcwen 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 EDTNSMOcwen to sell additional $25B portfolio to Nationstar
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March 19, 2015
11:02 EDTHLSSOptions with increasing implied volatility
Options with increasing implied volatility: HLF RAD NFLX HLSS NOW
March 18, 2015
11:44 EDTWACOcwen reopens after announcing MSR deal with Walter Investment
Ocwen (OCN) shares are up fractionally shortly after reopening for trading.
11:37 EDTWACWalter Investment jumps 7% after subsidiary agrees to buy MSRs from Ocwen
11:36 EDTWACOcwen intends to sell $9.6B portfolio of mortgage servicing rights to Green Tree
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11:35 EDTWACOcwen intends to sell $9.6B portfolio of mortgage servicing rights to Green Tree
09:27 EDTHLSSHome 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 EDTHLSSOcwen says continues to analyze HLSS' ability to continue to meet obligations
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