BUZZ-Ally Financial rises on move to simplify business, Q4 profit beat
Consumer lender Ally Financial's ALLY.N shares rise 6.5% to $40.65 premarket
ALLY posts Q4 adjusted profit of 78 cents/share, beating Wall Street expectations of 57 cents/share, according to estimates compiled by LSEG
Q4 net financing revenue rose $7 mln to $1.51 bln, driven by lower funding costs
CEO Michael Rhodes expresses optimism on strong momentum across ALLY's business as the company enters 2025, driven by an improved outlook on credit
ALLY also announced a raft of actions taken in Q4 to simplify and streamline the company
Co has agreed to sell its credit card business to credit and payments company CardWorks
ALLY is also ceasing new mortgage loan applications from Jan. 31 and said it paid $22 mln in severance pay to laid off workers
ALLY stock rose 3.1% in 2024
(Reporting by Arasu Kannagi Basil in Bengaluru)
((ArasuKannagi.Basil@thomsonreuters.com;))
Related Articles
Warsh’s Fed Era Signals a Death Knell for QE, Jolting the $30 Trillion Treasury Market
With Warsh’s nomination, his past proposals for governing the Federal Reserve are being brought to the forefront. A central issue is the formulation of a new "1951 Accord" to restructure the relationship between the Fed and the Treasury. Analysts suggest such a move could impact the $30 trillion Tre
Will TRON Reach $10? TRX Price Prediction 2026 and Canary Staked ETF Update
Explore TRON's 2026 outlook: Will TRX reach $10? Get the latest on the Canary Staked ETF SEC status, Justin Sun's strategy, and TRX price predictions through 2032.
Amazon Stock Predictions for 2026 to 2030: Will They Exceed Expectations and Achieve Major Long-Term Goals?
TradingKey - As we head into 2026, many investors are questioning where Amazon (AMZN) fits into the technology world.
A Crash After a Surge: Why Silver Lost 40% in a Week?
TradingKey - Spot silver (XAGUSD) prices continue to decline. Silver plunged 20% on Thursday, breaking below $71 per ounce, with the sell-off intensifying on Friday as prices fell further below $64. Compared to the all-time high set on January 29, silver prices have retraced more than 40%, wiping out nearly all gains accumulated over the previous month.
