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Stock Market & Financial Investment News

News Breaks
May 21, 2014
09:50 EDTNSM, ASPS, WAC, OCNLawsky says extending probe of Ocwen, other mortgage servicers
Benjamin Lawsky, Superintendent of Financial Services for the State of New York, delivered remarks yesterday at the Mortgage Bankers Association National Secondary Market Conference, during which he said the regulator has highlighted its concerns about ancillary services with "one particular non-bank servicer," most likely referring to Ocwen Financial (OCN), which the regulator has said it is probing. However, Lawsky added "they are not the only industry player doing this. So you should expect us to expand our investigation into ancillary services in the coming weeks and months," according to prepared remarks posted to the DFSNY website. Altisource Portfolio Solutions (ASPS) was previously spun-off from Ocwen. Other mortgage servicing companies include Nationstar (NSM) and Walter Investment (WAC). Reference Link
News For OCN;ASPS;NSM;WAC From The Last 14 Days
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November 14, 2014
16:52 EDTNSMGreenlight Capital gives quarterly update on stakes
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12:53 EDTOCNOmega Advisors gives quarterly update on stakes
NEW STAKES: AerCap Holdings (AER), Nordic American Offshore (NAO), Melco Crown Entertainment (MPEL), Groupon (GRPN), and Ashland (ASH). INCREASED STAKES: QEP Resources (QEP), United Continental (UAL), Cabot Oil & Gas (COG), Actavis (ACT), and KAR Auction Services (KAR). DECREASED STAKES: Sprint (S), SandRidge Energy (SD), Sirius XM Holdings (SIRI), Kinder Morgan (KMI), and Transocean (RIG). LIQUIDATED STAKES: QUALCOMM (QCOM), Ocwen Financial (OCN), Freeport-McMoRan (FCX), Boston Scientific (BSX), and Capital One (COF).
10:07 EDTASPSAltisource downgraded to Sell from Neutral at Compass Point
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07:32 EDTNSMHayman Capital gives quarterly update on stakes
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November 13, 2014
17:35 EDTOCNOcwen unit signs mutual termination agreement with Wells Fargo
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November 12, 2014
09:36 EDTNSMInformation Management Network to hold a symposium
Private Label RMBS Reform Symposium is being held in New York on November 12.
09:21 EDTASPSOn The Fly: Pre-market Movers
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08:22 EDTASPSAltisource discontinues LPI brokerage line of business, to reduce quarterly EPS
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07:28 EDTNSMBofA/Merrill to hold a conference
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November 11, 2014
15:12 EDTOCNOcwen Financial puts active on New York DFS Lawsky undecided on leaving report
Ocwen Financial November 27 puts are active on following press reports that New York Department of Financial Services Superintendent Benjamin Lawsky was planning to leave his post. November put option implied volatility is at 65, December is at 67, January is at 71; compared to its 26-week average of 48 according to Track Data. Active option volume suggests traders taking positions for wide price movement.
12:50 EDTOCN, WAC, NSMLawsky undecided on leaving NYDFS, Inside Mortgage Finance says
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08:30 EDTWAC, NSM, OCNLawsky reports a positive for mortgage space, says FBR Capital
FBR Capital views reports of New York Department of Financial Services Superintendent Benjamin Lawsky’s plans to step down in 2015 as a positive for mortgage servicing space. FBR notes Ocwen Financial (OCN) has been the company under the most scrutiny with Lawsky in charge and that Nationstar Mortgage (NSM)) has also received a letter from the regulator. It also views the reports as a positive for Walter Investment (WAC), which it notes has avoided a targeted communication by Lawsky thus far. FBR thinks a softening of the regulatory environment could allow the big banks to start moving product again.
November 10, 2014
13:22 EDTOCNBenjamin Lawsky expected to leave post in early 2015, Daily News reports
New York Department of Financial Services Superintendent Benjamin Lawsky is expected to leave Gov. Cuomo's cabinet in early 2015 for the private sector, New York Daily News reports, citing sources. Lawsky has been waging a public battle against Ocwen (OCN) over the company's mortgage servicing practices. Reference Link
12:59 EDTASPSPutnam Investments reports 12.3% passive stake in Altisource
10:04 EDTWACOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Abercrombie & Fitch (ANF) downgraded at Oppenheimer... American Eagle (AEO) downgraded to Neutral from Buy at B. Riley... BP (BP) downgraded to Neutral from Overweight at JPMorgan... Callon Petroleum (CPE) downgraded to Neutral from Buy at SunTrust... EP Energy (EPE) downgraded to Hold from Buy at Deutsche Bank... Eaton Vance (EV) downgraded at Sterne Agee... Ecopetrol (EC) downgraded to Underperform from Sector Perform at RBC Capital... General Mills (GIS) downgraded to Sector Perform from Outperform at RBC Capital... Genworth (GNW) downgraded to Market Perform from Outperform at Keefe Bruyette... MasTec (MTZ) downgraded to Hold from Buy at BB&T... Ocean Rig UDW (ORIG) downgraded to Neutral from Buy at Guggenheim... Performant Financial (PFMT) downgraded at Morgan Stanley... Petrobras (PBR) downgraded to Market Perform from Outperform at Cowen... R.R. Donnelley (RRD) downgraded to Hold from Buy at Benchmark Co.... Rex Energy (REXX) downgraded to Market Perform from Outperform at BMO Capital... Salix (SLXP) downgraded to Neutral from Buy at Mizuho... Siemens (SIEGY) downgraded to Neutral from Overweight at JPMorgan... Solazyme (SZYM) downgraded to Equal Weight from Overweight at Morgan Stanley... Stonegate Mortgage (SGM) downgraded to Market Perform at FBR Capital... Syngenta (SYT) downgraded to Neutral from Overweight at HSBC... ViaSat (VSAT) downgraded to Hold from Buy at Needham... Vistaprint (VPRT) downgraded to Neutral from Buy at SunTrust... Walter Investment (WAC) downgraded at Sterne Agee... WesBanco (WSBC) downgraded to Market Perform from Outperform at Keefe Bruyette... Whiting USA Trust II (WHZ) downgraded to Underperform at Raymond James... Wipro (WIT) downgraded to Sell from Buy at UBS... XOMA (XOMA) downgraded to Neutral from Buy at Ladenburg... Yanzhou Coal (YZC) downgraded to Sell from Hold at Deutsche Bank.
10:04 EDTNSMOn The Fly: Analyst Upgrade Summary
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09:25 EDTWACWalter Investment downgraded at Sterne Agee
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09:15 EDTNSMNationstar price target lowered to $35 from $42 at Sterne Agee
Sterne Agee cut its price target on Nationstar after the company reported lower than expected Q3 EPS. The firm also cited slower upward momentum in the company's Solutions Star and mortgage volumes as reasons for the price target cut The firm keeps a Buy rating on the stock.
06:37 EDTNSMNationstar upgraded to Market Perform from Underperform at Keefe Bruyette
Keefe Bruyette upgraded Nationstar to Market Perform following the company's Q3 results
05:54 EDTWACWalter Investment downgraded to Neutral from Buy at Sterne Agee
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