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Stock Market & Financial Investment News

News Breaks
May 21, 2014
11:19 EDTPNC, BAC, OCNNY regulator says reports of Ocwen 'gag rule' to be investigated immediately
Ben Lawsky, the head of the NY Department of Financial Services, stated on Twitter that reports of an Ocwen Financial (OCN) "gag rule" for struggling homeowners are "deeply troubling" and will be investigated "immediately" by DFS. Note that an earlier report from Reuters, to which Lawsky linked, said that mortgage payment collectors including Ocwen, Bank of America (BAC) and PNC Financial (PNC) are agreeing to ease the terms of borrowers' underwater mortgages, but are increasingly demanding homeowners promise not to insult the companies publicly as part of those deals. Reference Link
News For OCN;BAC;PNC From The Last 14 Days
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May 18, 2015
08:09 EDTOCNOcwen in full compliance with NYSE continued listing requirements
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06:53 EDTOCNOcwen says in talks with lender for renenwal, replacement or extension of debt
In a regulatory filing, Ocwen stated: "We currently are in negotiations with our lenders for the renewal, replacement or extension of our debt arrangements that mature or begin amortization in 2015. We may also consider other capital markets transactions including, but not limited to, the sale and financing of advance receivables in the event we do not renew, replace or extend a portion or all of our existing advance financing facilities. We have entered into commitment letters to refinance certain of our debt agreements and extended certain facilities ahead of their scheduled maturity...Our lenders’ obligations to fund under these commitment letters are subject to conditions precedent, some of which are outside our control. In the event we are unable to renew, replace or extend all of these debt agreements, we may not have adequate sources of funding for our business. Due to the significant level of cash requirements related to servicing advances, we may not have sufficient levels of liquidity to fund the operations without our advance financing facilities. We typically require significantly more liquidity to meet our advance funding obligations than our available cash on hand."
May 15, 2015
16:01 EDTBACOptions Update; May 15, 2015
iPath S&P 500 VIX Short-Term Futures down 20c to 20.06 Option volume leaders: AAPL BAC FB NFLX TWTR BABA CSCO TSLA MU GILD T MSFT AMZN MCD
10:15 EDTBACBank of America reports April default rate 2.93% vs. 2.94% last month
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07:09 EDTOCNHayman Capital gives quarterly update on stakes
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06:17 EDTBACBank of America CEO still struggles to move past financial crisis, WSJ reports
Five years into his job as Bank of America CEO, Brian Moynihan is still struggling to move past the financial crisis, which is testing his reputation as a "fixer" as well as the patients of investors who are concerned about his progress in turning the bank around, The Wall Street Journal reports. Reference Link
May 14, 2015
16:00 EDTBACOptions Update; May 14, 2015
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09:31 EDTOCNJPMorgan to buy $45B in mortgage servicing rights from Ocwen
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09:31 EDTOCNJPMorgan to buy $45B in mortgage servicing rights from Ocwen
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May 13, 2015
09:39 EDTBACActive equity options trading on open
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07:29 EDTBACUBS to hold a conference
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May 12, 2015
14:13 EDTPNC, BACBove says it may be time to buy bank stocks
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May 11, 2015
17:57 EDTOCNOcwen files 2014 10-K without 'going concern' qualification
Ocwen Financial Corporation announced that it has filed its 2014 Form 10-K with the SEC. "We believe the filing of our 2014 Form 10-K, without a qualification as to our ability to operate as a going concern, is additional evidence that our strategy to strengthen our compliance management system, strengthen the service we provide to our customers and improve our financial stability is working and that confidence in the company is being restored," stated Ocwen CEO Ron Faris.
16:00 EDTBACOptions Update; May 11, 2015
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09:59 EDTPNCOn The Fly: Analyst Downgrade Summary
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09:58 EDTBACBarclays expected to pay GBP2B to settle forex rigging charges, FT says
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09:37 EDTBACActive equity options trading on open
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08:42 EDTPNCPNC Financial downgraded to Neutral at Susquehanna
As reported previously, Susquehanna downgraded PNC Financial to Neutral from Positive citing valuation. The firm raised its price target on PNC shares to $102 from $100.
08:18 EDTBACBanks executives seek to push back on 'false, damaging' statements, WSJ reports
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06:54 EDTPNCPNC Financial downgraded to Neutral from Positive at Susquehanna
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