Skip to main content

Closing Bell: Ocwen Financial Loses Half Its Value; Nasdaq Sets New Record

Wall Street ended at session highs and the Nasdaq scored a new record.

Wall Street ended around session highs and the Nasdaq scored a new record. Treasury Secretary Steven Mnuchin helped solidify gains after promising a tax reform package soon. Verizon (VZ) - Get Verizon Communications Inc. Report moved lower after falling just shy of profit estimates over its first quarter and reporting a decline in revenue. Wireless customers fell for the first time in the telecom's history. Railway operator CSX (CSX) - Get CSX Corporation Report rallied after exceeding analysts' estimates on its top- and bottom-lines. The company also hiked its quarterly dividend by 11% and authorized a new $1 billion share buyback program. Ocwen Financial (OCN) - Get Ocwen Financial Corporation Report plummeted on a ruling in North Carolina that prohibited the company from acquiring new mortgage service rights. The cease and desist will stay in place until it can prove its financial stability.

Scroll to Continue

TheStreet Recommends