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Stock Market & Financial Investment News

News Breaks
February 7, 2014
09:31 EDTWFC, OCNOcwen Wells Fargo mortgage deal likely to be approved, says Sterne Agee
After New York regulators indicated that they were not going to approve the servicing sale of $39B in mortgages between Wells Fargo and Ocwen, Sterne Agee thinks that Ocwen will reach a deal with regulators, and the deal will ultimately be approved. Sterne Agee keeps a Buy rating on Ocwen.
News For OCN;WFC From The Last 14 Days
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April 13, 2015
15:26 EDTWFCWells Fargo April 54.5 straddle priced for 2.2% movement into Q1
12:39 EDTWFCWells Fargo April volatility elevated into Q1 and outlook
Wells Fargo April call option implied volatility is at 27, May is at 17, June is at 15; compared to its 26-week average of 17 according to Track Data, suggesting large near term price movement in the expected release of Q1 results on April 14.
11:16 EDTWFCConocoPhillips looks to sell noncore U.S. acreage, Reuters says
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April 10, 2015
16:19 EDTWFCStocks finish week higher as investors speculate jobs data could delay rate hike
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16:14 EDTWFCOn The Fly: Closing Wrap
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13:31 EDTWFCWells Fargo April volatility elevated into Q1 and outlook
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12:46 EDTWFCOn The Fly: Midday Wrap
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06:38 EDTWFCBlackstone and Wells Fargo confirm acquisition of GE real estate assets
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06:35 EDTWFCGE releases financial details of GE Capital assets sale
Approximately $16B of after-tax charges are expected to be recorded in the first quarter of 2015 in connection with the plan of which about $12B are non-cash. The charges include taxes on repatriated earnings, asset impairments due to shortened hold periods, and charges on businesses held for sale, including goodwill allocation. GE expects that the earnings impact of the GE Capital exits will be offset by the buyback over the exit period. GE has amended its income maintenance agreement to guarantee all tradable senior and subordinated debt securities and all commercial paper issued or guaranteed by GECC. The guarantee will replace the current income maintenance covenant. GE will maintain substantial liquidity and capital through the transition and does not expect to issue incremental GE Capital long-term debt for at least five years. Commercial paper will be further reduced to approximately $5 billion by the end of 2015.
06:34 EDTWFCGeneral Electric to sell most of GE Capital assets for approximately $26.5B
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06:34 EDTWFCBlackstone Mortgage to acquire $4.6B loan portfolio from GE Capital
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06:34 EDTWFCBlackstone Mortgage to acquire $4.6B loan portfolio from GE Capital
06:31 EDTWFCGeneral Electric to sell most of GE Capital assets for approximately $26.5B
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April 9, 2015
16:17 EDTWFCOn The Fly: Closing Wrap
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13:38 EDTWFCGE close to selling real estate holdings, WSJ reports
General Electric (GE) is close to selling its real estate holdings to Blackstone (BX) and Wells Fargo (WFC), Wall Street Journal reports, citing people familiar with the matter. The portfolio has $30B in holdings, the Journal adds. Shares of GE moved up 25c to $25.26 following the report. Reference Link
April 7, 2015
12:58 EDTOCNOn The Fly: Midday Wrap
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09:23 EDTOCNOn The Fly: Pre-market Movers
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April 6, 2015
17:43 EDTOCNOcwen says it still needs time to file 10-K
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17:41 EDTOCNOcwen amends servicing pact with Home Loan Servicing Solutions
On April 6, Ocwen (OCN) Loan Servicing entered into Amendment No. 2 to Master Servicing Rights Purchase Agreement and Sale Supplements with HLSS Holdings, Home Loan Servicing Solutions (HLSS) and MSR-EBO Acquisition LLC , which Amendment is effective upon the consummation and closing of the purchase by the Buyer, directly and through HLSS Advances Acquisition Corp., of substantially all of the assets of HLSS. The Amendment revised terms of (i) the Master Servicing Rights Purchase Agreement, dated as of October 1, 2012, as amended by Amendment No. 1 to Master Servicing Rights Purchase Agreement and Sale Supplements, dated as of December 26, 2012 and (ii) certain sale supplements to the MSR Purchase Agreement . In consideration of Ocwens consent to the assignment by HLSS to the Buyer of all HLSSs right, title and interest in, to and under the Original Agreements, the Amendment will, among other things impose a two year standstill on the rights of the HLSS Parties to replace Ocwen as named servicer.The Amendment also provides that Ocwen will sell to HLSS, on an exclusive and as is basis, all economic beneficial rights to the clean-up call rights Ocwen is entitled to pursuant to servicing agreements that underlie Rights to MSRs owned by HLSS, for a payment upon exercise of 0.50% of the unpaid principal balance of all performing mortgage loans associated with the applicable clean up-call. In the event there is a future downgrade of Ocwen's S&P servicer rating below its current rating of "Average," Ocwen has also agreed to compensate Holdings for certain increased costs associated with its servicing advance financing facilities, including increased costs of funding, to the extent such costs are the direct result of such downgrade.
12:47 EDTWFCWells Fargo April volatility increases into Q1 and outlook
Wells Fargo April call option implied volatility is at 22, May is at 17, June is at 15; compared to its 26-week average of 17 according to Track Data, suggesting large near term price movement in the expected release of Q1 results on April 14.
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