Click on Major Holders on front page. That's the most recently reported ownership (12/31 not yet out).
BlueMountain Capital Management, which is short OCN & HLSS, delivered notice of default on certain notes to trustee of the HLSS servicer advance receivables trust. BueMountain disclosed that it holds a short position in, and put options with respect to, the common stock of Ocwen Financial Corporation (OCN) and holds a short position in, and put options with respect to, the common stock of Home Loan Servicing Solutions (HLSS).
Fortress Investment Group LLC's (NYSE: FIG) losses in the recent Swiss franc fiasco add "insult to injury" according to an analyst who downgraded the company's shares Thursday.
"This will be the second disastrous January in a row for the Macro fund" according to Oppenheimer's Chris Kotowski, who noted a 5.9 percent loss in January 2013, "from which it only partially recovered."
The fund accounted for about $7.5 billion of the company's assets under management as of September 30.
Kotowski said Fortress's credit business has offered more healthy returns but likened the company to a "a car running on one cylinder."
"The credit cylinder seems to be firing but a car running on one cylinder does present risk," Kotowski said.
Kotowski downgraded Fortress to Perform, from Outperform Thursday, citing sub-par returns from the company's private equity and hedge fund segments.
Not sure who you are referring to but if me, I am just stating facts. And I'm long the stock so not a basher by any means.
There is no news on FEYE so of course no correlation. As soon as FEYE reports, they could be down 15% as well (or of course the opposite direction). It doesn't matter what anyone says on a Yahoo message board. We will find out on Feb 11.
The $233M is goodwill writedown which is non-cash. Of the $71M, only $5M is cash according to the CFO commentary. So, would have been $1,035M.
I was watching Fast Money including the discussion of IBM earning and heard nothing about FEYE.
So, you're saying you think any potential negative news to come re AM Best and/or reserve review is probably already priced in?
I've not quite bought and held all but close to it. My cost on 20,000 shares ws $1.515. Due to covered calls assigned I have sold 1,000 shares at $11; 1,000 shares at $12; 2,000 shares at $13; and 2,000 shares at $14. Covered call premiums on 26 trades total $15,335.
I've got losers too, of course, but obviously happy with these trades.
Think about what you are saying, Dave. You have less than 10% of the shares you held under $2, and you are happy about that because you believe that you have made more money adeptly buying/selling/buying/selling/buying/selling on all of the many moves from $2 to $14. That makes no sense to me. I'd take a move from $2 to $14 any day with no trading with the exception of covered calls to make a bit of extra money on the way up - which is what I have done.
Sterne Agee is out in defense of Home Loan Servicing Solutions, Ltd. (Nasdaq: HLSS) amid today's Ocwen Financial (NYSE: OCN)-related slide. Analyst Henry Coffey reaffirmed his Buy rating on Home Loan Servicing Solutions, saying Ocwen's issues in California don't impair Home Loan Servicing Solutions' cash flows. Coffey also notes that Home Loan Servicing Solutions is actively acquiring assets away from Ocwen.
"Our illustrative LBO model indicates a -1% IRR for NUAN under our base case assumptions. However, assuming cost cutting and margin improvement, NUAN returns 1% while both CVLT (Nasdaq: CVLT) and INFA (Nasdaq: INFA) clear a 20% hurdle. We do not see NUAN as a potential acquisition candidate, and see growth and margins challenged, which is the basis for our downgrade," said Dunham.
Here's what the current S&P report states: DB trades at a
substantial discount relative to peers (0.7X
2014E tangible book value versus sector at 1.2X)
and with a strengthened balance sheet to fund
future litigation settlements, we see the risk /
reward outlook for the shares as favorable.
Fortress Investment Group (NYSE:FIG) was downgraded by Credit Suisse from an “outperform” rating to a “neutral” rating in a research note issued on Tuesday. They currently have a $9.00 target price on the stock. Credit Suisse’s price objective suggests a potential upside of 12.36% from the company’s current price.
Announcement of spinoff from Philips, 12/2/2010:
Amsterdam, the Netherlands – Royal Philips Electronics (NYSE: PHG, AEX: PHI) announced today that it intends to sell a majority stake in Assembléon to H2 Equity Partners, an independent private equity firm. Philips will retain a 20 percent stake in Assembléon once the transaction, which is subject to the advice of the works council and customary regulatory filings, is completed.
Assembléon, with headquarters in Veldhoven, the Netherlands, is a global supplier of so-called surface mount technology pick & place solutions for the electronics manufacturing industry. The company, which employs just over 400 people, generated sales of EUR 92 million in the first nine months of 2010.
Thanks for the info, found the story. A bit of press doesn't hurt.
The European Commission cut its growth forecasts for the euro area as the bloc’s largest economies struggle to put the ravages of the debt crisis behind them after two recessions in six years.
Gross domestic product in the 18-nation region will rise by 0.8 percent this year and 1.1 percent in 2015, down from projections for 1.2 and 1.7 percent in May, the Brussels-based commission said today. It lowered its projections for Germany, Europe’s largest economy, and said inflation in the euro area will be even weaker than the European Central Bank predicts.