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PHH

PHH Corp.

$13.15

0.09 (0.69%)

08:03
09/15/17
09/15
08:03
09/15/17
08:03

PHH Corp. announces final results of modified Dutch auction tender

PHH Corporation announced the final results of its modified "Dutch auction" tender offer, which expired at 12:01 a.m., New York City time, on Monday, September 11, 2017. Based on the final count by Computershare Trust Company, N.A., the depositary for the tender offer, PHH accepted for payment an aggregate of 18,762,962 shares of PHH's common stock at a purchase price of $14.25 per share, for an aggregate cost of $267,372,201, excluding fees and expenses relating to the tender offer. The shares of common stock accepted for purchase include 18,666,666 shares that the company initially offered to purchase for up to $266,000,000 and 96,296 additional shares that the company has elected to purchase for the remaining balance pursuant to its right to purchase up to an additional 2% of its outstanding shares without amending or extending the tender offer. The shares purchased represent approximately 36.6% of PHH's common stock issued and outstanding as of September 11, 2017.

PHH PHH Corp.
$13.15

0.09 (0.69%)

06/20/17
WEDB
06/20/17
DOWNGRADE
WEDB
Neutral
PHH Corp. downgraded to Neutral from Outperform at Wedbush
Wedbush analyst Henry Coffey downgraded PHH Corp to Neutral as shares have neared his $14.50 price target.
03/03/17
WEDB
03/03/17
UPGRADE
WEDB
Outperform
PHH Corp. upgraded on capital return outlook at Wedbush
As noted earlier, Wedbush upgraded PHH to Outperform from Neutral. Analyst Henry J. Coffey Jr. says that, following its transition to a subservicing business, the company will be able to return more capital to shareholders than the $550M it has targeted. Target to $15.50 from $17.
03/03/17
WEDB
03/03/17
UPGRADE
WEDB
Outperform
PHH Corp. upgraded to Outperform from Neutral at Wedbush
12/30/16
PIPR
12/30/16
NO CHANGE
Target $17
PIPR
Overweight
Piper now believes New Residential does not need capital raise
After further analysis, Piper Jaffray analyst Kevin Barker believes New Residential Investment (NRZ) has the capacity to fully finance the PHH Corp. (PHH) deal without issuing equity capital. The analyst yesterday morning said he expects the company to issue equity. If New Residential were to internally finance the PHH deal, the stock "has the capacity to trade closer to a peer dividend yield or earnings," Barker tells investors in a research note. He raised his price target for New Residential shares to $17 from $16.50 and reiterates an Overweight rating on the name. Barker adds, however, that there is still a chance the company could look to raise equity to finance the deal.

TODAY'S FREE FLY STORIES

$NSD

NASDAQ Market Internals

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$NYE

NYSE Market Internals

13:16
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NYSE market internals summary »

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HCA

HCA Holdings

$76.15

-1.53 (-1.97%)

13:15
09/19/17
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Options
HCA Holdings put volume heavy and directionally bearish »

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13:15
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General news
Fed Policy Outlook: FOMC began its 2-day meeting »

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ICPT

Intercept

$95.75

0.87 (0.92%)

13:11
09/19/17
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13:11
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Intercept management to meet with Jefferies »

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  • 19

    Sep

WHR

Whirlpool

$170.86

0.02 (0.01%)

13:10
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TIF

Tiffany

$90.95

1.98 (2.23%)

13:05
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Options
Tiffany call volume above normal and directionally bullish »

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  • 03

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PTLA

Portola Pharmaceuticals

$56.57

1.62 (2.95%)

12:58
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09/19
12:58
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12:58
Recommendations
Portola Pharmaceuticals analyst commentary  »

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  • 02

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KR

Kroger

$21.29

-0.1501 (-0.70%)

12:55
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Options
Kroger put volume heavy and directionally bearish »

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PTLA

Portola Pharmaceuticals

$56.57

1.62 (2.95%)

12:51
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Portola Pharmaceuticals analyst commentary  »

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  • 02

    Feb

FCAU

Fiat Chrysler

$17.10

0.275 (1.64%)

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MSFT

Microsoft

$75.16

-0.15 (-0.20%)

12:48
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Microsoft Azure IP Advantage available in China on October 1 »

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  • 22

    Sep

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    Oct

AA

Alcoa

$45.77

0.86 (1.91%)

12:45
09/19/17
09/19
12:45
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12:45
Options
Alcoa call volume above normal and directionally bullish »

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NDLS

Noodles & Company

$4.15

-0.25 (-5.68%)

12:37
09/19/17
09/19
12:37
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12:37
Conference/Events
Noodles & Company management to meet with SunTrust »

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  • 19

    Sep

ENDP

Endo

$8.34

-0.26 (-3.02%)

, JNJ

Johnson & Johnson

$135.14

-0.24 (-0.18%)

12:37
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Schneiderman, coalition of AGs expand multistate probe into opioid crisis »

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ENDP

Endo

$8.34

-0.26 (-3.02%)

JNJ

Johnson & Johnson

$135.14

-0.24 (-0.18%)

TEVA

Teva

$17.14

0.15 (0.88%)

AGN

Allergan

$218.48

-3.06 (-1.38%)

ABC

AmerisourceBergen

$80.24

-0.43 (-0.53%)

CAH

Cardinal Health

$66.37

-0.7 (-1.04%)

MCK

McKesson

$150.02

1.6 (1.08%)

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    Oct

LXRX

Lexicon

$12.81

0.44 (3.56%)

, IPSEY

Ipsen

$33.04

-0.36 (-1.08%)

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LXRX

Lexicon

$12.81

0.44 (3.56%)

IPSEY

Ipsen

$33.04

-0.36 (-1.08%)

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  • 25

    Sep

12:35
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General news
Today's U.S. reports »

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LEG

Leggett & Platt

$45.25

-0.635 (-1.38%)

12:34
09/19/17
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12:34
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12:34
Conference/Events
Leggett & Platt management to meet with SunTrust »

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  • 19

    Sep

AMZN

Amazon.com

$974.19

-12.6 (-1.28%)

, VIA

Viacom

$37.45

-0.4 (-1.06%)

12:32
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12:32
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12:32
Periodicals
Viacom leak may have compromised digital properties, Gizmodo reports »

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AMZN

Amazon.com

$974.19

-12.6 (-1.28%)

VIA

Viacom

$37.45

-0.4 (-1.06%)

VIAB

Viacom

$27.32

-0.35 (-1.26%)

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  • 22

    Oct

ACTG

Acacia Research

12:32
09/19/17
09/19
12:32
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Acacia Research shares trade higher amid insider buying »

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GDOT

Green Dot

$48.82

0.79 (1.64%)

12:30
09/19/17
09/19
12:30
09/19/17
12:30
Conference/Events
Green Dot management to meet with SunTrust »

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  • 19

    Sep

ADBE

Adobe

$155.77

1.28 (0.83%)

12:30
09/19/17
09/19
12:30
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12:30
Options
Adobe attracts a pre-earnings call writer »

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  • 19

    Sep

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ENDP

Endo

$8.34

-0.26 (-3.02%)

, JNJ

Johnson & Johnson

$134.95

-0.43 (-0.32%)

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Michigan AG says 41 state attorneys general now involved in opioid probe »

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ENDP

Endo

$8.34

-0.26 (-3.02%)

JNJ

Johnson & Johnson

$134.95

-0.43 (-0.32%)

TEVA

Teva

$17.14

0.15 (0.88%)

AGN

Allergan

$218.49

-3.05 (-1.38%)

ABC

AmerisourceBergen

$80.20

-0.47 (-0.58%)

CAH

Cardinal Health

$66.36

-0.71 (-1.06%)

MCK

McKesson

$149.89

1.47 (0.99%)

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  • 21

    Sep

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    Sep

  • 27

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  • 17

    Oct

EFX

Equifax

$94.55

0.17 (0.18%)

12:27
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09/19
12:27
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12:27
Periodicals
Massachusetts Attorney General files lawsuit against Equifax, Reuters reports »

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  • 22

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