Updates
** Consumer lender Ally Financial's ALLY.N shares jump as much as 8.7%; last up 5.6% at $40.33
** ALLY posts Q4 adjusted EPS of 78 cents, beating analysts' expectation of 57 cents, according to estimates compiled by LSEG
** Q4 net financing revenue of $1.51 bln was ahead of estimates of $1.50 bln, driven by lower funding costs
** Retail auto net charge-off rate - debts that are unlikely to be recovered - came in at 2.34% in Q4, which was below Street expectation
** Truist analyst Brian Foran says credit issues peaking is the headline as investors breathe a sigh of relief
** Co had last year warned of intensifying credit challenges as borrowers struggled with high inflation and cost of living
** 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 stock rose 3.1% in 2024
(Reporting by Arasu Kannagi Basil in Bengaluru)
((ArasuKannagi.Basil@thomsonreuters.com;))