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COOP

Mr. Cooper

$12.01

-0.07 (-0.58%)

, IBM

IBM

$112.87

-2.27 (-1.97%)

16:17
01/03/19
01/03
16:17
01/03/19
16:17

Mr. Cooper announces $48B servicing transaction

Mr. Cooper Group Inc. (COOP) announced the signing of definitive agreements to acquire servicing rights underlying $24B in GSE mortgages, enter into a subservicing contract for an additional $24B in mortgages, and purchase the Seterus mortgage servicing platform and assume certain assets related thereto from IBM (IBM). Mr. Cooper expects to fund the acquisition with financing on the mortgage servicing rights and cash. Subject to regulatory approvals, the transaction is targeted to close in the first quarter 2019.

COOP

Mr. Cooper

$12.01

-0.07 (-0.58%)

IBM

IBM

$112.87

-2.27 (-1.97%)

  • 07

    Jan

  • 11

    Feb

  • 25

    Feb

  • 03

    Mar

  • 04

    Mar

COOP Mr. Cooper
$12.01

-0.07 (-0.58%)

11/30/18
BTIG
11/30/18
INITIATION
Target $21
BTIG
Buy
Mr. Cooper initiated with a Buy at BTIG
As reported earlier, BTIG analyst Giuliano Bologna initiated Mr. Cooper with a Buy rating and a price target of $21 as part of his broader research note into Mortgage Servicers. The analyst notes that the more "difficult operating environment" has created an opportunity to take advantage of dislocations in companies with more exposure to servicing, which actually do better in a rising interest rate environment. Bologna views Mr. Cooper as an attractive opportunity given its "servicing unpaid principal balance growth visibility, margin expansion potential, earnings upside from internal initiatives and upside from integrating recent acquisitions."
11/29/18
BTIG
11/29/18
INITIATION
Target $21
BTIG
Buy
Mr. Cooper initiated with a Buy at BTIG
BTIG started Mr. Cooper with a Buy rating and $21 price target.
11/09/18
LEHM
11/09/18
UPGRADE
Target $18
LEHM
Equal Weight
Mr. Cooper upgraded to Equal Weight from Underweight at Barclays
Barclays analyst Mark Devries upgraded Mr. Cooper to Equal Weight and raised his price target for the shares to $18 from $17. The analyst sees an improved risk/reward following the company's Q3 results and potential upside from the acquisition of Pacific Union Financial.
10/30/18
PIPR
10/30/18
UPGRADE
Target $15.5
PIPR
Neutral
Mr. Cooper upgraded to Neutral from Underweight at Piper Jaffray
Piper Jaffray analyst Kevin Barker upgraded Mr. Cooper to Neutral and raised his price target for the shares to $15.50 from $15. The analyst views the risk/reward as more balanced with the shares trading at 0.8 times economic tangible book value.
IBM IBM
$112.87

-2.27 (-1.97%)

12/20/18
SBSH
12/20/18
DOWNGRADE
Target $26
SBSH
Neutral
Citi downgrades Sanmina to Neutral, cuts IBM target to $125
Citi analyst Jim Suva downgraded Sanmina (SANM) to Neutral from Buy and lowered his price target for the shares to $26 from $35. The analyst also cut his price target for Neutral-rated IBM (IBM) to $125 from $165. The outlook for 2019 shows slowing growth across most end markets, Suva tells investors in a research note. As such, he expects tech companies to increase their M&A actions coupled with production or sourcing moves away from China.
12/18/18
BTIG
12/18/18
NO CHANGE
Target $176
BTIG
Neutral
Red Hat results saw 'soft subscription revenues but strong billings', says BTIG
BTIG analyst Joel Fishbein kept his Neutral rating and $176 price target on Red Hat (RHT) after its Q3 results, saying that its subscription revenue miss was impacted by currency headwinds. The analyst is positive on the company's "strong billings", which he sees as a better leading indicator of business, adding that Red Hat looks to be "regaining its footing as it attempts to get back on track after working through some kinks in the subscription model." Fishbein further notes that this latest quarter "does nothing" to alter his view that the Red Hat - IBM (IBM) deal is likely to close, and that Red Hat shares will approach the $190 takeout price.
12/17/18
RBCM
12/17/18
NO CHANGE
Target $167
RBCM
Outperform
IBM price target lowered to $167 from $175 at RBC Capital
RBC Capital analyst Amit Daryanani lowered his calendar year 2019 and 2020 revenue and EPS forecast for IBM to reflect software asset sales and the fact that recent foreign exchange moves have been worse than what the company guided for, creating another potential headwind. Given his lower estimates, Daryanani cut his price target on IBM shares to $167 but maintains an Outperform rating on the stock.
12/11/18
WOLF
12/11/18
INITIATION
Target $130
WOLF
Peer Perform
IBM initiated with a Peer Perform at Wolfe Research
Wolfe Research analyst Steven Milunovich initiated IBM with a Peer Perform and $130 price target saying unwieldy size has been the undoing of leaders and disruptive technology has disadvantaged incumbents.

TODAY'S FREE FLY STORIES

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$NYE

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$0.00

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JNJ

Johnson & Johnson

$133.46

2.48 (1.89%)

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EA

Electronic Arts

$97.88

0.34 (0.35%)

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Periodicals
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  • 09

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F

Ford

$8.95

0.15 (1.70%)

, GM

General Motors

$36.92

0.12 (0.33%)

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Periodicals
States sue EPA for right for stricter emission regulations, Washington Post says »

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F

Ford

$8.95

0.15 (1.70%)

GM

General Motors

$36.92

0.12 (0.33%)

HMC

Honda

$29.01

0.175 (0.61%)

NSANY

Nissan

$0.00

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TM

Toyota

$144.15

1.02 (0.71%)

TSLA

Tesla

$350.80

1.29 (0.37%)

DDAIF

Daimler AG

$0.00

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FCAU

Fiat Chrysler

$16.03

0.05 (0.31%)

VWAGY

Volkswagen

$0.00

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MDLZ

Mondelez

$52.71

-0.19 (-0.36%)

14:52
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COLM

Columbia Sportswear

$93.21

-1.28 (-1.35%)

14:50
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Conference/Events
Columbia Sportswear participates in a conference call with Wedbush »

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  • 22

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Conference/Events
Wedbush hardware/component analyst to hold an analyst/industry conference call »

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NVS

Novartis

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ALNA

Allena Pharmaceuticals

$1.61

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Conference/Events
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HCA

HCA Healthcare

$138.00

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, CYH

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THC

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AMRN

Amarin

$23.69

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VIA

Viacom

$26.63

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Fox Corp.

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DIS

Disney

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AZN

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GOOG

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, GOOGL

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ORCL

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  • 19

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

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AMZN

Amazon.com

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$NYE

NYSE Market Internals

$0.00

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