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