Category Archives: MARKETS

One slice of the market threatens to ruin the S&P 500’s clean earnings sheet

One sector is on pace to ruin the S&P 500’s clean earnings sheet for the first quarter. Telecoms, the smallest sector by number of constituents, has failed to deliver on the earnings growth that Wall Street had been anticipating after a run up in prices. According to a FactSet report on Friday, telecom services was […]

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Loan-servicing company Ocwen Financial explodes higher after unloading a bunch of assets

Mortgage servicer Ocwen Financial surged as much as 46% on Monday after saying it will sell $425 million of assets to help boost the company’s finances. New Residential Corporation will purchase mortgage servicing rights from Ocwen in a transaction and start a new five-year subservicing agreement, the company said in a statement. In addition to […]

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