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Stock Market & Financial Investment News

News Breaks
January 22, 2014
09:01 EDTWFC, OCNWells Fargo to sell mortgage servicing rights on approx. 184,000 loans to Ocwen
Wells Fargo (WFC) announced that its subsidiary, Wells Fargo Bank, N.A., has signed an agreement with Ocwen Loan Servicing LLC (OCN) for the sale of residential mortgage servicing rights on a portfolio consisting of approximately 184,000 loans with a total principal balance of $39B, or approximately 2% of Wells Fargo’s total residential servicing portfolio as of the end 4Q13. The sale will be finalized as servicing is transferred, which the company expects will occur during 2014. The transaction will not be material to the company’s financial results. The loans underlying the residential mortgage servicing rights sold are primarily owned by private investors and were not originated or owned by Wells Fargo. The loans are serviced under the trade name, America’s Servicing Company.
News For WFC;OCN From The Last 14 Days
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November 25, 2014
16:35 EDTWFCFed says Wells Fargo 2014 resolution plan has shortcomings
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November 24, 2014
07:01 EDTWFCFed could further restrict banks' commodities businesses, NY Times says
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November 21, 2014
07:24 EDTWFCBB&T CEO says 'banks lending recklessly' again, Reuters reports
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November 19, 2014
07:37 EDTWFCCitigroup to hold a conference
Global Financial Conference is being held in Singapore on November 19-20.
06:14 EDTWFCWells Fargo unit to launch Europe infrastructure fund
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November 18, 2014
17:34 EDTWFCWells Fargo, U.S. not as optimistic on settling mortgage suit, Reuters says
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16:48 EDTWFCWells Fargo, U.S no longer confident on settlement, Bloomberg says
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09:56 EDTWFCOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Allergan (AGN) downgraded to Market Perform from Outperform at William Blair... Wells Fargo (WFC) downgraded to Market Perform from Outperform at BMO Capital... Allergan downgraded to Neutral from Buy at Guggenheim... Allergan downgraded to Neutral from Buy at SunTrust... Basic Energy (BAS) downgraded to Neutral from Buy at SunTrust... CBS (CBS) downgraded to Neutral from Overweight at Atlantic Equities... Key Energy (KEG) downgraded to Neutral from Buy at SunTrust... Macy's (M) downgraded to Neutral from Buy at BofA/Merrill... Statoil (STO) downgraded to Neutral from Overweight at JPMorgan... Urban Outfitters (URBN) downgraded to Market Perform from Outperform at Telsey Advisory... Urban Outfitters downgraded to Market Perform from Outperform at William Blair... Urban Outfitters downgraded to Neutral from Overweight at Atlantic Equities... Baker Hughes (BHI) downgraded to Hold from Buy at Argus.... Precision Drilling (PDS) downgraded to Market Perform at Raymond James.
08:13 EDTWFCWells Fargo downgraded at BMO Capital
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07:24 EDTWFCWells Fargo to hold a forum
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06:20 EDTWFCWells Fargo downgraded to Market Perform from Outperform at BMO Capital
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November 14, 2014
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).

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