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Stock Market & Financial Investment News

News Breaks
June 3, 2014
07:39 EDTSBY, LADR, TWO, OAKS, HTS, STWD, WAC, MFA, BXMT, IVRKeefe Bruyette to hold a conference
Mortgage Finance Conference to be held in New York on June 3 with webcasted company presentations to begin at 8 am; not all company presentations may be webcasted. Webcast Link
News For OAKS;IVR;WAC;TWO;BXMT;STWD;LADR;MFA;HTS;SBY From The Last 14 Days
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February 27, 2015
09:58 EDTWACOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: 500.com (WBAI) downgraded to Hold from Buy at Deutsche Bank... Akorn (AKRX) downgraded to Hold after share rally at Needham... Allscripts (MDRX) downgraded to Market Perform from Outperform at Leerink... Bank of America (BAC) downgraded to Neutral from Buy at UBS... Bill Barrett (BBG) downgraded to Hold from Buy at KLR Group... CA Technologies (CA) downgraded to Underperform from Neutral at Credit Suisse... CBOE Holdings (CBOE) downgraded at BofA/Merrill... CONE Midstream (CNNX) downgraded to Sector Perform from Outperform at RBC Capital... Calamos (CLMS) downgraded to Underperform from Neutral at Credit Suisse... Crane (CR) downgraded to Market Perform from Outperform at FBR Capital... Dick's Sporting (DKS) downgraded to Equal Weight from Overweight at Barclays... EnerNOC (ENOC) downgraded to Buy from Strong Buy at Needham... Hercules Offshore (HERO) downgraded to Sell from Buy at Deutsche Bank... Insulet (PODD) downgraded at Oppenheimer... Intelsat (I) downgraded to Underperform from Neutral at Credit Suisse... Laredo Petroleum (LPI) downgraded to Market Perform from Outperform at Northland... Mavenir Systems (MVNR) downgraded to Equal Weight from Overweight at Morgan Stanley... Memorial Production (MEMP) downgraded to Underperform from Perform at Oppenheimer... Mobileye (MBLY) downgraded to Neutral from Buy at Dougherty... NTELOS (NTLS) downgraded to Market Perform from Outperform at Wells Fargo... Ocwen (OCN) downgraded to Sell from Neutral at Compass Point... Pegasystems (PEGA) downgraded to Neutral from Buy at Merriman... Performant Financial (PFMT) downgraded to Neutral from Buy at Compass Point... Pharmacyclics (PCYC) downgraded to Neutral from Buy at Goldman... Potbelly (PBPB) downgraded to Underweight from Overweight at Piper Jaffray... SYNNEX (SNX) downgraded to Hold from Buy at Stifel... Safe Bulkers (SB) downgraded at Credit Suisse... Sarepta (SRPT) downgraded to Market Perform from Outperform at Cowen... Seadrill Partners (SDLP) downgraded to Sector Perform from Outperform at RBC Capital... Spirit Realty (SRC) downgraded at RBC Capital... Transocean (RIG) downgraded to Sector Perform from Outperform at Iberia... UIL Holdings (UIL) downgraded to Neutral from Outperform at RW Baird... WCI Communities (WCIC) downgraded to Neutral from Buy at Citigroup... Walter Investment (WAC) downgraded to Neutral from Outperform at Credit Suisse.
09:58 EDTSBYOn The Fly: Analyst Upgrade Summary
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08:28 EDTWACWalter Investment downgraded to Underweight from Equal Weight at Morgan Stanley
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08:27 EDTWACWalter Investment downgraded to Underperform at Keefe Bruyette
Keefe Bruyette downgraded Walter Investment to Underperform from Market Perform with a $14 price target following the company's Q4 results. Shares were also downgraded this morning at Credit Suisse.
07:23 EDTSBYSilver Bay Realty upgraded at JMP Securities
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06:29 EDTSBYSilver Bay Realty upgraded to Outperform from Market Perform at JMP Securities
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06:23 EDTWACWalter Investment downgraded to Neutral from Outperform at Credit Suisse
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February 26, 2015
08:05 EDTSBYSilver Bay Realty to hold a conference call
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07:20 EDTWACWalter Investment sees reduction in HARP volumes from 2014
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07:18 EDTWACWalter Investment says current economic conditions favorable for business
The company commented, "The Servicing segment is expected to benefit from improving borrower credit quality and declining delinquency rates which generally drive a reduction in related servicing costs. In recent months we have seen an increase in MSR portfolios available for sale in the market as large depositories shed portfolios associated with non-core clients, strategic MSR sales from non-bank servicers increase and small and mid-sized originators monetize their MSR assets. The market has remained competitive for these assets though the Company anticipates pricing may improve as the significant supply of MSR is absorbed by the market during 2015. Walter Investment remains opportunistic in reviewing potential acquisitions. Active regulatory oversight of the sector continues and the company expects that in the current market participants who have scale, are appropriately capitalized, are compliant with regulatory requirements, and have significant experience and a strong track record in transferring servicing assets will be best positioned to grow their portfolios in the future. Market expectations indicate that originations volume in the United States will grow approximately 7% over 2014 to $1.2 trillion. The broader market remains challenging but has improved over the last couple of months as rates have declined, refinance activity has increased and margins have firmed. Our retention channel has benefited from an increase of "in the money" borrowers in our serviced portfolios while our correspondent lending channel has seen improved volumes. The retail channel remains competitive as purchase money volumes remain relatively light. The company's business plan for 2015 targets strong operational performance in each of its core businesses. Targets for the Servicing, ARM and Insurance businesses include growth of the serviced portfolio of approximately 10%, including additions from the Originations segment as well as a blend of bulk MSR purchases and sub-servicing and combined AEBITDA margins in the range of 14 - 18 bps, consistent with the 2014 combined AEBITDA range."
07:17 EDTWACWalter Investment reports Q4 adjusted EPS (6c), consensus 63c
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February 25, 2015
16:10 EDTSBYSilver Bay Realty reports Q4 core FFO 13c, consensus 11c
Reports Q4 revenue $20.7M, consensus $21M.
07:09 EDTSTWDStarwood Property sees FY15 core EPS $2.05-$2.25
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07:08 EDTSTWDStarwood Property reports fair value of net assets at FY14-end $17.40 per share
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07:08 EDTSTWDStarwood Property reports Q4 core EPS 50c
Reports Q4 revenue $178.78M
February 24, 2015
07:12 EDTBXMTWells Fargo to hold a conference
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February 23, 2015
16:15 EDTIVRInvesco Mortgage reports Q4 EPS 49c, consensus 46c
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February 18, 2015
09:07 EDTSBYSilver Bay Realty to acquire The American Home portfolio for $263M
Silver Bay Realty Trust announced that it has entered into a definitive agreement to acquire a portfolio of properties owned and operated by The American Home for approximately $263M in cash. The Portfolio consists of approximately 2,460 homes primarily located in Atlanta, Charlotte, Tampa and Orlando. The leased portion of the portfolio exceeds 90% with average existing rents of approximately $960 per month and the purchase price per square foot of the portfolio is approximately $66. The purchase is estimated to be immediately accretive to Silver Bay’s Funds from Operations and Estimated Net Asset Value. In conjunction with the transaction, Silver Bay executed an amendment to its credit facility that increases its borrowing capacity to $400M. The company intends to utilize the credit facility to fund the transaction. The transaction remains subject to the satisfaction of conditions to close and is targeted to close in approximately 45-60 days.
February 17, 2015
16:19 EDTBXMTBlackstone Mortgage reports Q4 EPS 37c, consensus 51c
16:18 EDTHTSHatteras Financial reports Q4 core EPS 59c, consensus 54c
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