General Stock News Update:
Utilities stocks propelled 0.3% on Wall Street so far on Monday.
Utilities were the day’s greatest failures, falling 1 percent, and their misfortunes continued a pattern that rose in late January. Speculators have dumped the profit rich stocks as the yield of the U.S. 10-year note creeps higher.
In Utilities Sector, Dynegy Inc. (NYSE:DYN) has demonstrated an uptrend of +3.28% in recent days with YTD execution of -3.43% and 3-month execution down -13.67%.
One ETF nearly following Utilities stocks is the Utilities Select Sector SPDR ETF (XLU), which is up 0.1% in midday exchanging, and down 3.13% on a year-to-date premise. Open Service Enterprise Group, in the mean time, is up 2.28% year-to-date, and Edison International, and is as the year progressed to-date.
Details about those financial sector stocks that gained during yesterday’s trade, are depicted underneath:
Nationstar Mortgage Holdings Inc. (NYSE:NSM)’s shares picked up 12.71%, and closed at $31.48, during the last trading session, soon after the news release that a financial services holding company, declared that its partner, Ocwen Loan Servicing, LLC and Nationstar Mortgage LLC, an indirectly held, wholly owned, partner of Nationstar Mortgage Holdings Inc. (NSM), have signed an contract in principle for the sale by Ocwen of residential mortgage servicing rights on a portfolio comprising of about 81,000 performing loans owned by Freddie Mac with a total principal balance of about $9.8 billion. Subject to a definitive contract, approvals by Freddie Mac and FHFA and other customary conditions, Ocwen and Nationstar expect the transaction to close by March 31, 2015 and the loan servicing to transfer in April 2015.
“This transaction represents the first step in the execution of our formerly-declared strategy to transfer certain types of non-planned servicing,” said Ronald M. Faris, Chief Executive Officer of Ocwen. “We look forward to exploring additional MSR transactions with Nationstar.”
Ocwen Financial Corp. (NYSE:OCN), inclined 8.33%, and closed at $10.40.
Ocwen Financial Corporation is a financial services holding company which, through its auxiliaries, is engaged in the servicing and origination of mortgage loans. Ocwen is headquartered in Atlanta, Georgia, with offices throughout the United States and support operations in India and the Philippines.
Based in Dallas, Texas, Nationstar earns fees through the delivery of quality servicing, origination and transaction based services related principally to single-family residences throughout the United States.
New Residential Investment Corp. (NYSE:NRZ), raised 8.86%, and closed at $14.25, hitting new 52-week high of $14.37, soon after a real estate investment trust, declared that it will release its fourth quarter and full year financial results for the period ended December 31, 2014 on Friday, February 27, 2015 preceding to the opening of the New York Stock Exchange. In addition, administration will host a conference call on Friday, February 27, 2015 at 10:00 A.M. Eastern Time. A copy of the earnings release will be posted to the Investor Relations section of New Residential’s website, www.newresi.com.
New Residential Investment Corp. (NYSE:NRZ), focuses on opportunistically investing in, and actively managing, investments related to residential real estate. The Company primarily targets investments in mortgage servicing related assets and other related opportunistic investments. New Residential is organized and conducts its operations to qualify as a real estate investment trust for federal revenue tax purposes.
On Deck Capital, Inc. (NYSE:ONDK), enhanced 5.44%, and closed at $19.37, soon after the news release that a leading platform for small business lending, declared financial results for its fourth quarter and full year ended December 31, 2014.
Fourth Quarter and Full Year 2014 Financial Highlights:
- Gross proceed was a record $50.5 million for the quarter and a record $158.1 million for the full year, up 118% and 142%, respectively, from the comparable preceding year periods.
- Adjusted EBITDA* was a positive $0.6 million for the quarter and a loss of $0.2 million for the full year, contrast to a loss of $2.1 million in the year ago quarter and a loss of $16.3 million in the preceding year.
- Adjusted net loss* was a loss of $0.8 million for the quarter and a loss of $4.6 million for the full year, contrast to a loss of $3.2 million in the year ago quarter and a loss of $20.2 million in the preceding year.
- GAAP net loss improved to a loss of $4.3 million for the quarter and a loss of $18.7 million for the full year, contrast to a loss of $5.6 million in the year ago quarter and a loss of $24.4 million in the preceding year.
On Deck Capital, Inc. (NYSE:ONDK), a leading platform for small business loans, is committed to increasing Main Street’s access to capital. OnDeck uses advanced lending technology and analytics to assess creditworthiness based on actual operating performance and not solely on personal credit. The OnDeck Score®, the company’s proprietary small business credit scoring system, evaluates thousands of data points to deliver a credit decision rapidly and accurately.
