On Tuesday, Shares of Ocwen Financial Corp (NYSE:OCN), gained 0.27% to $7.51.
Ocwen Financial Corporation, stated net income of $10 million, or $0.08 per share, for the three months ended June 30, 2015 contrast to net income of $67 million, or $0.48 per share, for the three months ended June 30, 2014. Ocwen generated revenue of $463 million, down 16% contrast to the second quarter of the preceding year. Income from operations was $111 million for the three months ended June 30, 2015 contrast to $208 million for the second quarter of 2014. Cash from Operating Activities was $210 million for the three months ended June 30, 2015, up $196 million over the same period last year.
“The Company made positive strides on many fronts in the second quarter. We continue to work closely with our regulators and monitors, and the environment remains stable. Our efforts to build out a strong ‘bank-like’ risk and compliance infrastructure are taking hold. We were profitable and generated strong operating cash flow. We executed on our asset sale strategy, counting the sale of $3 billion of non-performing agency servicing, and we reduced corporate debt by $264 million while ending the quarter with almost half a billion dollars in accessible liquidity. Additionally, we executed our first servicing advance refinance of 2015 at better than predictable rates, receiving strong support from the financing market,” commented Ron Faris, President and CEO of Ocwen.
Ocwen Financial Corporation, a financial services holding company, engages in servicing and origination of mortgage loans in the United States. Its Servicing segment provides residential and commercial mortgage loan servicing, special servicing, and asset administration services to owners of mortgage loans and foreclosed real estate.
Shares of Microchip Technology Inc. (NASDAQ:MCHP), declined -1.58% to $43.72, during its last trading session.
Microchip Technology Inc., declared that AUDI AG is networking the Audi virtual cockpit system in its new high-class Q7 SUV Models using MOST technology, following a similar deployment in its TT Coupe Models. Specifically, Audi is utilizing Microchip’s OS81110 and OS81118 MOST150 Intelligent Network Interface Controllers (INICs), which provide 150 Mbps performance and support all MOST network data types. The OS81118 also comprises a High Speed USB 2.0 interface (PHY/HSIC), to seamlessly connect with the virtual cockpit’s System-on-Chip processor.
To date, more than 170 million MOST interface controllers have been installed in 184 car models since 2001. Audi and all major carmakers have for many years successfully implemented MOST technology in their multi-node infotainment networking systems, as it provides a field-proven, low-risk, whole-system solution. The MOST150 standard also provides Ethernet or Internet-protocol networking capabilities. This latest version of MOST technology continues to predictably and efficiently transport video, audio, packet and control data throughout the vehicle without time-synchronization protocols, using dedicated channels for minimal processor overhead in the main infotainment control unit processors.
Microchip Technology Incorporated develops, manufactures, and sells semiconductor products for various embedded control applications. The company offers microcontrollers, such as 8-bit, 16-bit, and 32-bit microcontrollers under the PIC brand name; and 16-bit dsPIC digital signal controllers, in addition to provides microcontrollers for automotive networking, computing, lighting, power supplies, wireless communication, and wireless audio applications.
At the end of Tuesday’s trade, Shares of Select Medical Holdings Corporation (NYSE:SEM), lost -6.40% to $13.75.
Penn State Hershey Rehabilitation Hospital’s Transitional Care Unit was awarded the highest rating possible from the Centers for Medicare and Medicaid Services (CMS) Five-Star Quality Rating System. Out of more than 600 hospitals and facilities surveyed in Pennsylvania, the transitional care unit was one of only 150 to earn the five-star distinction.
Medicare’s Five-Star Quality Rating System is part of a broad initiative to assist consumers compare the quality of healthcare organizations and providers. The ratings enable consumers to quickly and easily compare and evaluate hospitals and providers, with five stars indicating the highest quality care. Penn State Hershey Rehabilitation Hospital is a 98-bed facility. Of these beds, 22 are part of its Transitional Care Unit. Unlike the hospital beds that offer acute rehabilitation, the Transitional Care Unit is comprised of beds more similar to a skilled nursing facility
Select Medical Holdings Corporation, through its partner, Select Medical Corporation, operates specialty hospitals and outpatient rehabilitation clinics in the United States. It operates in two segments, Specialty Hospitals and Outpatient Rehabilitation.
Finally, XPO Logistics Inc (NYSE:XPO), ended its last trade with -5.23% loss, and closed at $37.70.
XPO Logistics, declared financial results for the second quarter of 2015, counting 22 days of financial performance from the operations of Norbert Dentressangle SA. Total gross revenue raised 109.3% year-over-year to $1.2 billion, and net revenue raised 317.2% to $508.6 million.
On a GAAP basis, the company stated a net loss of $78.8 million for the quarter, contrast with a net loss of $13.8 million for the same period in 2014. The net loss accessible to common shareholders was $75.1 million, or a loss of $0.89 per diluted share, contrast with a net loss accessible to common shareholders of $14.5 million, or a loss of $0.28 per diluted share, for the same period in 2014.
On an adjusted basis, the net loss accessible to common shareholders, a non-GAAP measure, was $13.6 million, or a loss of $0.16 per share for the quarter, not taking into account the items detailed below. This compares with an adjusted net loss accessible to common shareholders of $11.6 million, or a loss of $0.22 per share, for the second quarter of 2014.
XPO Logistics, Inc. provides transportation and logistics services primarily in the United States. The company operates through two segments, Transportation and Logistics. The Transportation segment provides truckload, less-than truckload and intermodal brokerage, and last-mile delivery logistics services under the brands XPO Logistics, XPO Last Mile, and Pacer; and time-critical, time-sensitive, or high precedingity freight shipment services under the brand names XPO Express, XPO NLM, and XPO Air Charter.
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