New York’s top bank regulator asked Ocwen Financial Corp. for information about potential conflicts of interest between the firm and its vendors as it seeks to buy $39 billion of home loans from Wells Fargo & Co. Ocwen shares tumbled 7 percent.
Elon Musk’s Tesla Motors Inc. has earned the ardor of investors and the highest U.S. safety ratings. It can also add the honor of having the best-reviewed car of the year by automobile testers at Consumer Reports.
Two things explain why the biggest gains in the U.S. stock market this year are coming from companies without profits, according to Jeff Mortimer of BNY Mellon Wealth Management: Greed, and fear of missing out.
Takeover speculation, shareholder activism and regulatory scrutiny that erased about $2 billion from its share value are making options in Ariad Pharmaceuticals Inc. among the most expensive in America.