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OCN

Ocwen

$3.69

0.08 (2.22%)

13:30
10/13/17
10/13
13:30
10/13/17
13:30

Ocwen Financial 2019 options with notable interest Friday

Ocwen Financial 2019 options with notable interest Friday. The stock up 8c to $3.69 and Jan19 4 calls trade in small lots for 60 and 65c per contract. 12.3K trade at that strike against 7K open interest. Separately, 5K Jan 2019 3.5 puts trade at 52.5c when bid-ask was 50c to 65c and appears to be a closing sale. Total volume is 3X daily average at 13K puts and 14K calls. 69% of the flow is in the Jan 2019 term. Earnings expected again towards month's end.

OCN Ocwen
$3.69

0.08 (2.22%)

06/20/17
WEDB
06/20/17
DOWNGRADE
WEDB
Neutral
New Residential downgraded on downward rates, regulatory worries at Wedbush
As noted earlier, before the market opened, Wedbush downgraded New Residential (NRZ) to Neutral from Outperform Analyst Jason Weaver downgraded the stock based on falling interest rates and his belief that the CFPB and Florida's attorney general could seek to sue New Residential as part of their lawsuit against Ocwen (OCN). The analyst does not expect New Residential to be hurt by any such lawsuits, but he says that they would create headline risk for the company and could delay the closing of its deal with Ocwen. Target to $16.50 from $17.
05/16/17
PIPR
05/16/17
NO CHANGE
Target $18
PIPR
Overweight
New Residential target raised to $18 after CEO meeting at Piper Jaffray
Piper Jaffray analyst Kevin Barker raised his price target for New Residential Investment (NRZ) after hosting meetings with the company's CEO Michael Nierenberg. The analyst has increased confidence that the Ocwen (OCN) mortgage servicing rights deal will be "meaningfully accretive" to New Residential and provide support for a higher dividend in the future. Barker reiterates an Overweight rating on the shares.
05/15/17
COMP
05/15/17
NO CHANGE
Target $7
COMP
Sell
Altisource price target cut to $7 from $14 at Compass Point
Compass Point analyst Fred Small said Altisource's (ASPS) most profitable unit, Hubzuwhich derives 85% of profits from Ocwen (OCN), and represents over 90% of Altisource's pre-tax income, is "running out of steam" as Ocwen's portfolio declines. The analyst staid there is nothing to replace the high margin business and the recently announced sub servicing deal between Ocwen and New Residential (NRZ) increases risk on Ocwen's-sourced REO sales. The analyst said allegations about Ocwen's improper servicing suggest this is the source of the problems with Altisource's REALServicing platform. Small lowered his FY17 earnings estimate to $1.21 from $1.60 and FY18 to 65c from $1.77, cut his price target to $7 from $14, and reiterates a Sell rating on shares.
05/02/17
05/02/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. AMD (AMD) downgraded to Underperform from Neutral at Macquarie with analyst Srini Pajjuri telling investors PC progress was disappointing versus high expectations and margin expansion will be difficult. 2. CNA Financial (CNA) downgraded to Hold from Buy at Deutsche Bank with analyst Joshua Shanker citing valuation with the stock up 56% over the past 12 months. The analyst raised his price target for the shares to $46 from $45 following CNA's first quarter results. 3. Arthur J. Gallagher (AJG) downgraded to Market Perform on valuation at Raymond James with analyst Gregory Peters citing valuation. 4. Ocwen (OCN) downgraded to Neutral on valuation at Compass Point with analyst Fred Small citing the over 40% jump in shares following the announcement of a strategic deal with New Residential (NRZ) on Monday. The analyst maintained a $3.50 price target on Ocwen shares and recommends moving to the sidelines until viability into long-term earnings power emerges. 5. Cerner (CERN) downgraded to Neutral from Buy at Hilliard Lyons with analyst Stephen Turner citing price appreciation and raised its price target to $68. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

OCFC

OceanFirst Financial

$28.01

0.19 (0.68%)

17:03
10/22/17
10/22
17:03
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17:03
Conference/Events
OceanFirst Financial to host special shareholder meeting »

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OCFC

OceanFirst Financial

$28.01

0.19 (0.68%)

, SNBC

Sun Bancorp

$25.60

0.05 (0.20%)

16:57
10/22/17
10/22
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16:57
Conference/Events
Sun Bancorp to host special shareholder meeting »

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OCFC

OceanFirst Financial

$28.01

0.19 (0.68%)

SNBC

Sun Bancorp

$25.60

0.05 (0.20%)

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SGU

Star Gas Partners, L.P.

$10.52

-0.16 (-1.50%)

16:49
10/22/17
10/22
16:49
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16:49
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Star Gas Partners, L.P. to host special shareholder meeting »

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    Oct

ETRM

EnteroMedics

$2.05

0.07 (3.54%)

16:44
10/22/17
10/22
16:44
10/22/17
16:44
Conference/Events
EnteroMedics to host special shareholder meeting »

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  • 25

    Oct

PSTB

Park Sterling Bank

$12.84

-0.02 (-0.16%)

, SSB

South State

$92.15

-0.2 (-0.22%)

16:39
10/22/17
10/22
16:39
10/22/17
16:39
Conference/Events
South State to host special shareholder meeting »

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PSTB

Park Sterling Bank

$12.84

-0.02 (-0.16%)

SSB

South State

$92.15

-0.2 (-0.22%)

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  • 24

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SSB

South State

$92.15

-0.2 (-0.22%)

, PSTB

Park Sterling Bank

$12.84

-0.02 (-0.16%)

16:36
10/22/17
10/22
16:36
10/22/17
16:36
Conference/Events
Park Sterling Bank to host special shareholder meeting »

Special Shareholder…

SSB

South State

$92.15

-0.2 (-0.22%)

PSTB

Park Sterling Bank

$12.84

-0.02 (-0.16%)

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  • 24

    Oct

FSBK

First South Bancorp

$18.66

0.14 (0.76%)

, CARO

Carolina Financial

$36.17

0.23 (0.64%)

16:22
10/22/17
10/22
16:22
10/22/17
16:22
Conference/Events
Carolina Financial to host special shareholder meeting »

Special Shareholder…

FSBK

First South Bancorp

$18.66

0.14 (0.76%)

CARO

Carolina Financial

$36.17

0.23 (0.64%)

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  • 26

    Oct

CARO

Carolina Financial

$36.17

0.23 (0.64%)

, FSBK

First South Bancorp

$18.66

0.14 (0.76%)

16:19
10/22/17
10/22
16:19
10/22/17
16:19
Conference/Events
First South Bancorp to host special shareholder meeting »

Special Shareholder…

CARO

Carolina Financial

$36.17

0.23 (0.64%)

FSBK

First South Bancorp

$18.66

0.14 (0.76%)

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  • 26

    Oct

FOXA

21st Century Fox

$27.50

0.13 (0.47%)

13:41
10/22/17
10/22
13:41
10/22/17
13:41
Periodicals
Fox knew of new harassment settlement before signing O'Reilly, Reuters says »

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  • 08

    Nov

TM

Toyota

$123.71

0.64 (0.52%)

13:37
10/22/17
10/22
13:37
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13:37
Periodicals
Toyota to halt operations at Japan plants as typhoon approaches, Reuters says »

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ICE

IntercontinentalExchange

$66.12

-0.73 (-1.09%)

, BAC

Bank of America

$27.17

0.59 (2.22%)

13:34
10/22/17
10/22
13:34
10/22/17
13:34
Hot Stocks
IntercontinentalExchange completes BofA Merrill's Index Platform acquisition »

Intercontinental Exchange…

ICE

IntercontinentalExchange

$66.12

-0.73 (-1.09%)

BAC

Bank of America

$27.17

0.59 (2.22%)

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  • 22

    Oct

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    Nov

VCYT

Veracyte

$9.30

0.11 (1.20%)

13:30
10/22/17
10/22
13:30
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13:30
Hot Stocks
Veracyte announces new data, highlights Afirma GSC performance »

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MRK

Merck

$63.88

0.13 (0.20%)

13:19
10/22/17
10/22
13:19
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13:19
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Study shows Merck Zepatier resulted in high sustained virologic response rates »

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  • 23

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  • 02

    Feb

EADSY

Airbus

$23.76

-0.135 (-0.56%)

, BDRBF

Bombardier

$2.25

0.04 (1.81%)

12:57
10/22/17
10/22
12:57
10/22/17
12:57
Periodicals
Airbus turmoil overshadows bid to rescue Bombardier CSeries, Reuters says »

Airbus's (EADSY)…

EADSY

Airbus

$23.76

-0.135 (-0.56%)

BDRBF

Bombardier

$2.25

0.04 (1.81%)

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SPY

SPDR S&P 500 ETF Trust

$257.11

1.32 (0.52%)

, SPX

S&P 500

11:19
10/22/17
10/22
11:19
10/22/17
11:19
Periodicals
Senate Republican Leader says tax bill to be revenue neutral, Reuters reports »

Mitch McConnell said he…

SPY

SPDR S&P 500 ETF Trust

$257.11

1.32 (0.52%)

SPX

S&P 500

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SNAP

Snap

$15.56

0.31 (2.03%)

11:15
10/22/17
10/22
11:15
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11:15
Periodicals
People use Snapchat at parties, not as much at sports stadiums, Recode says »

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  • 24

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TSLA

Tesla

$345.10

-6.71 (-1.91%)

11:09
10/22/17
10/22
11:09
10/22/17
11:09
Periodicals
Tesla reaches deal for Shanghai manufacturing facility, WSJ reports »

Tesla has reached an…

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  • 01

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  • 06

    Nov

MOH

Molina Healthcare

$64.40

0.76 (1.19%)

, UNH

UnitedHealth

$207.49

4.24 (2.09%)

11:01
10/22/17
10/22
11:01
10/22/17
11:01
Periodicals
Senator McConnell waiting for Trump's OK on healthcare bill, Reuters says »

Republican Senate Leader…

MOH

Molina Healthcare

$64.40

0.76 (1.19%)

UNH

UnitedHealth

$207.49

4.24 (2.09%)

CNC

Centene

$96.50

1.8 (1.90%)

WCG

WellCare

$180.52

3.28 (1.85%)

CI

Cigna

$191.42

3.2 (1.70%)

ANTM

Anthem

$194.69

1.49 (0.77%)

HNT

Health Net

HUM

Humana

$245.81

3.12 (1.29%)

AET

Aetna

$160.84

3.2 (2.03%)

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  • 24

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  • 01

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  • 02

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  • 02

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  • 02

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  • 03

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  • 06

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    Nov

TSLA

Tesla

$345.10

-6.71 (-1.91%)

10:57
10/22/17
10/22
10:57
10/22/17
10:57
Periodicals
Tesla expects to agree on deal to build cars in China by year-end, Reuters says »

Tesla is talking with the…

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  • 01

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  • 06

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WAC

Walter Investment

$0.51

-0.0056 (-1.09%)

10:24
10/21/17
10/21
10:24
10/21/17
10:24
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Walter Investment reaches agreement on financial restructuring »

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TMST

TimkenSteel

$17.57

0.19 (1.09%)

10:18
10/21/17
10/21
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10:18
Hot Stocks
Tentative agreement between TimkenSteel, United Steelworkers voted down »

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  • 27

    Oct

AGEN

Agenus

$4.33

-0.14 (-3.13%)

, GSK

GlaxoSmithKline

$40.84

-0.26 (-0.63%)

10:15
10/21/17
10/21
10:15
10/21/17
10:15
Hot Stocks
FDA approves GlaxoSmithKline shingles vaccine with Agenus QS-21 Stimulon »

Agenus (AGEN) has…

AGEN

Agenus

$4.33

-0.14 (-3.13%)

GSK

GlaxoSmithKline

$40.84

-0.26 (-0.63%)

03/08/13
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  • 23

    Oct

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  • 06

    Nov

MS

Morgan Stanley

$50.68

0.89 (1.79%)

10:06
10/21/17
10/21
10:06
10/21/17
10:06
Periodicals
Another 20% gain in Morgan Stanley stock likely, Barron's says »

In a follow-up story,…

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  • 22

    Oct

  • 23

    Oct

SSNLF

Samsung

10:02
10/21/17
10/21
10:02
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10:02
Periodicals
Samsung has lots of upside driven by chips/screens, Barron's says »

Samsung stock is up 50%…

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  • 21

    Oct

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    Oct

DLAKY

Lufthansa

$30.28

0.2 (0.66%)

09:56
10/21/17
10/21
09:56
10/21/17
09:56
Periodicals
Lufthansa has more room to climb, Barron's says »

Amid competitor's…

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