$215 Billion of New Business
Nationstar Mortgage is buying the servicing rights on $215 billion of loans from Bank of America for $1.3 billion. Walter Investment also bought rights to $93 billion of mortgages. NSM surges 21 percent before the bell on my tradeMONSTER platform, and WAC is up 10 percent.
Epocrates Pops on Athenahealth Buy
Athenahealth agreed to buy Epocrates for $293 million in cash. That translates into $11.75 a share, not bad for a stock that closed at $9.62 on Friday. EPOC is up 21 percent in early trading.
Qsymia News Lifts Vivus
Vivus released data ahead of its appearance today at the JPMorgan Global Healthcare Conference. The slides show that prescriptions for Qsymia weight-loss drug more than doubled on a rolling four-month basis between late October and late December. That's good news for a stock that's been cut in half since July, and VVUS is up 8 percent before the bell.
Applied Materials Falls on Downgrade
Applied Materials was downgraded to "underweight" from "neutral" by J.P. Morgan, which is bearish on capital spending by chip makers. AMAT is down 3 percent in the premarket.
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