During Tuesday’s current trade, Ocwen Financial Corp (NYSE:OCN)’s shares gained 14.89%, and is now trading at $9.57, formerly on March 24, Ocwen Financial Corp (OCN), declared that its partner, Ocwen Loan Servicing, LLC (“Ocwen”) and Nationstar Mortgage LLC, an indirectly-held, wholly-owned partner of Nationstar Mortgage Holdings Inc. (NSM) (collectively “Nationstar”) have agreed in principle to the sale by Ocwen of residential mortgage servicing rights on a portfolio comprising of about 142,000 loans owned by Freddie Mac and Fannie Mae with a total principal balance of about $25 billion. Subject to a definitive contract, approvals by Freddie Mac, Fannie Mae and FHFA and other customary conditions, Ocwen and Nationstar expect the transaction to close before mid-year.
Ocwen Financial Corporation, through its auxiliaries, is engaged in the servicing and origination of mortgage loans in the United States and internationally. The corporations Servicing segment provides residential and commercial mortgage loan servicing, special servicing, and asset administration services to owners of mortgage loans and foreclosed real estate.
In an afternoon trade, China Ming Yang Wind Power Group Ltd (NYSE:MY)’s shares climbed 7.06%, and is now trading at $2.88, today, China Ming Yang Wind Power Group (MY), declared its unaudited financial results for the fourth quarter and the full year ended December 31, 2014.
Fourth Quarter 2014 Operating and Financial Highlights:
- Total wind turbine generators (“WTGs”) commissioned for which proceed was recognized amounted to an equivalent wind power project output of 638.0MW, or 280 units of 1.5MW WTGs and 109 units of 2.0MW WTGs, an raise of 263.5% contrast to 175.5MW in Q4 2013.
- Total proceed was RMB1,996.0 million (US$321.7 million), an raise of 268.8% contrast to RMB541.2 million in Q4 2013.
- Gross profit was RMB271.9 million (US$43.8 million), contrast to a gross loss of RMB20.0 million in Q4 2013. Gross margin was 13.6%, contrast to a negative gross margin of 3.7% in Q4 2013.
- Total comprehensive revenue was RMB80.9 million (US$13.0 million), contrast to total comprehensive loss of RMB501.9 million in Q4 2013.
- Basic and diluted earnings per share were RMB0.68 (US$0.11) and RMB0.66 (US$0.11), respectively, contrast to basic and diluted loss per share of RMB3.36 and RMB3.36, respectively, in Q4 2013.
Full Year 2014 Operating and Financial Highlights:
- Total WTGs for which proceed was recognized amounted to an equivalent wind power project output of 1,852.0MW, or 844 units of 1.5MW WTGs and 293 units of 2.0MW WTGs, a raise of 112.4% contrast to 872.0MW in 2013.
- Total proceed was RMB5,872.4 million (US$946.5 million), an raise of 106.4% contrast to RMB2,844.8 million in 2013.
- Gross profit was RMB813.1million (US$131.0 million), a raise of 210.0% contrast to RMB262.3 million in 2013. Gross margin was 13.8%, contrast to 9.2% in 2013.
- Total comprehensive revenue was RMB350.0 million (US$56.4 million), contrast to a total comprehensive loss of RMB656.1 million in 2013.
- Basic and diluted earnings per share were RMB2.90 (US$0.47) and RMB2.86 (US$0.46), contrast to basic and diluted loss per share RMB4.12 and RMB4.12, respectively, in 2013.
China Ming Yang Wind Power Group Limited designs, manufactures, sells, and services megawatt-class wind turbines in the People’s Republic of China and the Republic of India. The corporation provides wind turbines with a rated power capacity of 1.5MW and 2.0MW; and 2.5/3.0MW SCD wind turbines. It also manufactures and sells wind turbine blades and components.
Organovo Holdings Inc (NYSEMKT:ONVO), during its Tuesday’s current trading session raised 9.62%, and is now trading at $3.99, soon after Organovo Holdings Inc (ONVO), presented data on the corporation’s in vitro three-dimensional kidney tissue at the 2015 Experimental Biology conference in Boston, Massachusetts.
Key findings and attributes from Organovo’s research comprise:
- The kidney proximal tubule tissue is multi-cellular and fully human, compriseing of polarized renal proximal tubular epithelial cells (RPTEC) and a living interstitial layer comprised of renal fibroblasts (RF), and endothelial cells (EC)
- Immunohistochemical analysis shows clear evidence of intercellular junction formation (E-Cadherin+) between the epithelial cells, extensive formation of microvascular structures, and stable maintenance of the layered architecture for at least two weeks in vitro
- The epithelial cells within the multi-layered tubular model express CYP450 mRNAs and possess gamma glutamyl transferase (GGT) activity, both of which are indicators of RPTEC function. Importantly, our initial characterization shows that the expression of GGT raises over two weeks post-fabrication, indicating a gain-of-function over time
Organovo Holdings, Inc., a development-stage corporation, focuses on developing and commercializing functional human tissues that could be employed in drug discovery and development, biological research, and as therapeutic implants for the treatment of damaged or degenerating tissues and organs.
Ballard Power Systems Inc. (USA) (NASDAQ:BLDP)’s shares jumped 9.72% during the current trading session Tuesday, and is now trading at $2.37, today, Ballard Power Systems (BLDP), declared that the world’s first hydrogen fuel cell powered fixed rail electric tram was successfully demonstrated at a ceremonial event held in March at the head office, production and testing facility of CSR Qingdao Sifang Corporation (CSR Sifang), a Chinese rolling stock manufacturer based in Qingdao , Shandong province.
“This is an exciting demonstration of our world leading fuel cell power modules in a new application,” said Randy MacEwen , Ballard’s President and CEO. “Clean urban transportation is a high precedingity in China and this zero-emission prototype fuel cell tram is an important step in demonstrating one solution.”
The event was attended by senior officials of the City of Foshan, a tram customer of CSR Sifang, and invited guests took a ride on the prototype fuel cell powered tram. Ballard’s FCvelocity® fuel cell module is integrated into the low floor tram design.
Ballard Power Systems Inc. engages in the development and commercialization of proton exchange membrane fuel cells worldwide. The corporation is primarily involved in the design, development, manufacture, sale, and service of fuel cell stacks, modules, and systems for various applications.
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