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Earnings Review – Nov 10 2008

Mon, 10 Nov 2008 12:55:00 GMT

Here’s a look at the earnings review from today’s stocks, a chunk of which are Chinese ADR’s. In the background of the new stimulus program announced by the Chinese government, the Asian markets have seen a much needed rebound.[More...]

NASDAQ Technical Picture - Bearish Expansion

Thu, 22 May 2008 05:37:37 GMT

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Lampert Reports Sallie Mae Stake

Thu, 15 May 2008 22:25:19 GMT

In a just disclosed SEC filing Sears Holdings Chairman Edward Lampert disclosed that through his RBS Partners hedge fund he purchased shares in both Sallie Mae (SLM) and PHH Corporation (PHH)[More...]

Lessons that Will Be Ignored

Tue, 08 Jan 2008 10:03:06 GMT

One argument put forth by those who deny that the bursting credit bubble will lead to hard times is the fact that authorities have the lessons of the past to go on. Unfortunately, that knowledge didn't seem to do much good when the Japanese were faced with a similar deflationary unraveling during the 1990s. While it is always possible that this time will, you know, be different, I believe there are always going to be certain influences that get in the way of finding solutions that truly are the least painful. The list includes any number of human behavioral foibles, including an aversion to recognizing losses quickly and in full, as well as the realities of democratic politics. That is one reason why I am less than optimistic that those in charge here will heed the warning of Bloomberg commentator William Pesek, writing in [More...]

New trade setups…

Wed, 02 Jan 2008 13:57:00 GMT

As 2008 begins trading tomorrow we will be hit with some news that may impact the markets before they even open.Tonight it is being reported that a deal to purchase PHH Mortgage company by General Electric (financial division) and Blackstone has been canned. The original deal was worth $1.8 Billion but has been called off this weekend due to the banks financing the deal have pulled back on their willingness to lend the money. So the deal is off and this leaves PHH Mortgage without a buyer. But what is more important here is that this could be taken as a sign of fewer deals going through as money for financing large accusations will not be available.Financial Times reports...[More...]

Pre-Market - Nov 9 2007 10:47AM

Fri, 09 Nov 2007 14:41:58 GMT

Stocks that are overbought include: FLS, PRGO, HMN, & ESLR. Stocks that are oversold include: CCRT, MS, FTK, PHH, CPO, BEN, ADVNB, TBSI, EGLE, LULU, PNRA, BDK, SPSX, C, IBM, EMC, VMW, JAH, SCRX, UAUA, MALL, WYNN, UA, GIGM, WM, GRMN, DSX, CRNT, QSII, VTIV, SINA, & CROX.After staging a striking rally late yesterday, futures are indicating a sharply lower open for the mkt. Whatever momentum may have been drawn from yesterday's late-session move was tossed aside following another write-down, this time from Wachovia (WB). The co saw a $1.1 bln decline in the value of its CDOs and expects to increase its provision for loan losses in Q4 by $500 mln to $600 mln in excess of charge-offs. There were also rumors circulating that Barclays (BCS) is getting ready to announce[More...]

Barron's Summary (PPG, PHH, ANW, CMCSA, GOOG)

Mon, 24 Sep 2007 07:39:39 GMT

Barron’s cover highlights BMW, saying that according to some bulls, the shares could rally 20% or more if 2H07 margins expand. At its recent price of €43.57, it was trading at over 10x the ‘07 consensus EPS ests of €4.08, a big discount to its peer group, which trades at 14.1x. Take out BMW's €6.5bn, or €10 a share, in cash and the P/E multiple is even lower, notes Daniel Kerbach, of LGT Capital Mgmt. And while BMW has been investing heavily, it now has many more improved models available as a result. "It will take a few quarters, but that will pay off," Kerbach adds.Fund manager likes BWA, TEN and JCI.Pittsburgh Plate Glass (PPG) stock looks like a good bet. The company is getting out of slow-growth markets like U.S. auto glass and reinvesting in more promising ones like Transitions eyeglass lenses.[More...]

Analyst Picks and Pans: Yahoo, PHH, Danaher

Mon, 13 Jul 2009 14:53:00 GMT

Thomas Weisel analyst Christa Quarles upgraded Yahoo on July 10 in light of coming organizational changes that could make the Internet-search giant more efficient and competitive in its product offerings.
Quarles said that while she still has reservations about some of the longer-term issues surrounding Yahoo, changes in company structure and the stock's recent underperformance could serve to boost shares in the near term.
While noting that Microsoft Corp. still expressed interest in acquiring Yahoo, the analyst believes that a combination is increasingly unlikely given that Yahoo's core search business has shown no signs of eroding.

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Investment Firm Beats PHH Management in Proxy Fight

Mon, 15 Jun 2009 17:48:00 GMT

Jun. 15--An investment firm won its proxy battle with PHH Corp. last week, getting its two representatives elected to the company's board of directors and ousting the CEO and chairman from the seven-member board.
Pennant Capital Management LLC, PHH's largest shareholder with 9.9 percent of the stock, has previously said that while it wanted Terry Edwards off the board, it is not trying to remove him as the company's chief executive officer.
So PHH will be in the unusual position of having a CEO who is not on the board of directors.

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Forecasts Vary - Widely - for Area Mortgage Manager

Tue, 17 Mar 2009 00:47:00 GMT

PHH Corp. reported a net loss of $216 million for the fourth quarter and $254 million for all of 2008, but there was a silver lining to its year-end report.
So PHH projects the business to be profitable for the entire first quarter.
"As those that have followed us closely know, the key to PHH has been getting the mortgage production segment to become a consistent profit generator," CEO Terence Edwards told analysts in a conference call.

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FIRST COAST TICKER: Forecasts Vary - Widely - for Area Mortgage Manager

Mon, 16 Mar 2009 17:48:00 GMT

Mar. 16--PHH Corp. reported a net loss of $216 million for the fourth quarter and $254 million for all of 2008, but there was a silver lining to its year-end report.
So PHH projects the business to be profitable for the entire first quarter.
"As those that have followed us closely know, the key to PHH has been getting the mortgage production segment to become a consistent profit generator," CEO Terence Edwards told analysts in a conference call.

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Gray Matter

Mon, 09 Feb 2009 05:47:00 GMT

A Ridgefield woman has filed a $2 million lawsuit against the parent company of Cartus Corp., claiming the Danbury-based relocation manager started a whisper campaign two years ago to persuade older workers to take retirement -- and failing that to demote them in hopes they leave on their own accord, or flat out fire them.
Joan Zawacki filed suit against Parsippany, N.J.-based Realogy Corp., whose Cartus division had more than 1,600 workers in Fairfield County at last report, numbering it among the 10 largest companies in the region.
According to Zawacki's lawsuit, Cartus has been steadily chipping away at its work force through multiple rounds of job cuts driven by the downturn in the real estate market; the erosion of client fees; an increase in debt following the company's acquisition by Apollo Management LP; and cost overruns for new information technology systems.

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GMAC Unit to Close Offices, Cut 5,000 Jobs

Thu, 04 Sep 2008 08:03:00 GMT

Sep. 4--GMAC Financial Services subsidiary Residential Capital L.L.C., of Fort Washington, said yesterday that the housing slump was forcing it to eliminate 5,000 jobs in its mortgage operations.
The cuts -- starting tomorrow with loan officers in GMAC Mortgage branches -- will hit 60 percent of the lender's workforce, including 168 in the Philadelphia region, where Residential Capital will continue employing 1,408, spokeswoman Jeannine Bruin said.
Marano, former global head of mortgage and asset-backed securities at the Bear Stearns Cos.

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BRIEF: Wisconsin Bancorp Acquires Mid America Bank

Sat, 30 Aug 2008 17:48:00 GMT

Aug. 30--JANESVILLE -- Wisconsin Bancorp has acquired Mid America Bank, which has banks in Janesville, Footville and Williams Bay.
Mid America will continue to operate as a full-service community bank, offering comprehensive banking services to residential, commercial, industrial and agricultural customers.
Wisconsin Bancorp is headed by founders Brad Palubicki, David Reddington and James Hazzard.

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PHH's Outlook Dismal in Short Term: The CEO Blamed Higher Mortgage Interest Rates, Tighter Credit Standards: "Volume is Very, Very Slow."

Sat, 09 Aug 2008 10:01:00 GMT

Aug. 9--The chief executive of mortgage lender PHH Corp. in Mount Laurel yesterday gave a dismal outlook for the remainder of the year.
"We feel great long term, but we don't feel good about what the next six months might bring," Terence W. Edwards, president and CEO of PHH, said during a conference call with investors.
"While I don't want to make a trend out of a week-and-a-half of August activity, volume is very, very slow," Edwards said.

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RidgewaterEquity.Com Free Fundamental Sector &Amp; Market Research on ALD, LUV, NSM, PHH, ME and RGS

Mon, 26 Oct 2009 12:04:00 GMT

RidgewaterEquity.com inspires to bring the best from the internet under one roof, providing you with a one click option to view what the market, researchers and financial pundits worldwide have to say about any particular large cap stocks in any given financial environment.
Once you sign up as a free member you will have free unlimited access to all our reports, research tools and more.
We have recently begun in-depth analysis of the following equities & their respective sectors:

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PHH Corporation Announces Completion of Offering of Convertible Senior Notes

Wed, 30 Sep 2009 20:48:00 GMT

PHH Corporation (NYSE:PHH) ("PHH" or the "Company") announced today the closing on September 29, 2009, of an offering of $250million in aggregate principal amount of 4.00% Convertible Senior Notes Due 2014 (the "notes").
The net proceeds to PHH from the offering, after deducting the initial purchasers' commissions and estimated fees and expenses of the offering payable by PHH, were approximately $242million.
The Company used the remaining net proceeds of approximately $211 million to reduce the principal balance outstanding under its Amended and Restated Competitive Advance and Revolving Credit Agreement due 2011.

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PHH Corporation Announces Second Quarter 2009 Results

Tue, 04 Aug 2009 02:58:00 GMT

PHH Corporation (NYSE:PHH) today announced results for the three and six months ended June 30, 2009.[More...]

PHH Corporation Sets Date for Second Quarter 2009 Earnings Conference Call

Fri, 31 Jul 2009 15:19:00 GMT

PHH Corporation (NYSE: PHH) today announced that it will hold its second quarter 2009 earnings conference call on Tuesday, August 4, 2009 at 10:00 a.m. EDT.[More...]

PHH Corporation Names Acting Chief Executive Officer and New Board Chairman

Fri, 19 Jun 2009 13:03:00 GMT

PHH Corporation (NYSE: PHH) today announced the appointment of George J. Kilroy as Acting Chief Executive Officer and President of PHH Corporation, and James O. Egan as Chairman of the Board of Directors. Both appointments were effective June 17, 2009.[More...]

Amalgamated Bank Launches New Line of Affordable Home Financing Options

Mon, 15 Jun 2009 16:48:00 GMT

NEW YORK, June 15 /PRNewswire/ -- Working families and individuals have always turned to Amalgamated Bank for affordable and competitive checking and savings accounts, CDs and IRAs, consumer loans and home mortgages.
America's Labor Bank is launching a new alliance with PHH Mortgage to provide customers with a comprehensive range of home financing services from pre-approval letters to loan origination and loan servicing.
"As a progressive bank, our customers have always depended on us for affordable banking services," said Derrick D. Cephas, President and Chief Executive Officer of Amalgamated Bank.

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PHH Corporation and Pennant Capital Management Jointly Announce Certified Results of 2009 Annual Meeting of Stockholders

Fri, 12 Jun 2009 18:36:00 GMT

PHH Corporation (NYSE:PHH) (“PHH” or the “Company”) and Pennant Capital Management, LLC (“Pennant”) today jointly announced the results of the proposals considered at PHH’s 2009 Annual Meeting of Stockholders (the “2009 Annual Meeting”) as certified by Corporate Election Services, the independent Inspectors of Election hired to count the votes and certify the voting results. At the 2009 Annual Meeting, PHH’s stockholders elected James O. Egan, Allan Z. Loren and Gregory J. Parseghian as Class I Directors to serve for three year terms, ratified the selection of Deloitte & Touche LLP as PHH’s independent registered public accounting firm for the fiscal year ending December 31, 2009, approved the PHH Corporation Amended and Restated 2005 Equity and Incentive Plan, and approved the amendment of PHH’s Articles of Amendment and Restatement (as amended) to increase the Company’s number of shares of authorized capital stock from 110,000,000 shares to 275,000,000 shares and the authorized number of shares of common stock from 108,910,000 shares to 273,910,000 shares.[More...]

PHH Corporation and Pennant Capital Management Jointly Announce Anticipated Results of PHH Director Election

Wed, 10 Jun 2009 17:54:00 GMT

PHH Corporation (NYSE:PHH) (“PHH,” the “Company,” “we,” “our” and “us”) and Pennant Capital Management, LLC (“Pennant”) today jointly announced the anticipated results of the election of directors at PHH’s 2009 Annual Meeting of Stockholders (the “2009 Annual Meeting”). PHH and Pennant stated that they believe that Messrs. James O. Egan, Allan Z. Loren and Gregory J. Parseghian have been elected as Class I Directors for three year terms.[More...]

PHH Corporation Announces the Closing of $1.0 Billion of TALF-Eligible Asset Backed Notes Issued by Chesapeake Funding LLC

Tue, 09 Jun 2009 18:31:00 GMT

PHH Corporation (NYSE:PHH) (“PHH” or the “Company”) today announced the successful closing by its indirect wholly-owned subsidiary, Chesapeake Funding LLC (“Chesapeake”), of the issuance and sale of $1.0 billion in aggregate principal amount of its Series 2009-1 Floating Rate Asset Backed Notes (“Series 2009-1 Notes”). The Series 2009-1 Notes were rated AAA/Aaa by Standard & Poor’s Rating Services and Moody’s Investor Services respectively and qualified as “eligible collateral” under and as defined in the Term Asset-Backed Securities Loan Facility, or “TALF,” established by the Federal Reserve Bank of New York.[More...]

RiskMetrics Group Now Recommends “FOR” All of PHH’s Proposals

Fri, 05 Jun 2009 18:57:00 GMT

PHH Corporation (NYSE:PHH) (“PHH,” the “Company,” “we,” “our” and “us”) today announced that RiskMetrics Group (formerly ISS) now recommends that PHH stockholders vote “FOR” all of the proposals that PHH will be presenting for a stockholder vote at the 2009 Annual Meeting of Stockholders on June 10, 2009 (the “2009 Annual Meeting”).[More...]