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Ally Financial Inc. stock price, ALLY
Ally Financial Inc. stock chart:
Ally Financial Inc. close price: 18.71
Stock price forecast:
UP TO +0.80%
Total forecasts: 90
Reached: 5 (5.56%)
Total Win: 1.64 (7.91%)
Showing 1-10 of 632 items.
|Date of Forecast||Stock Price||Target Price||Forecast Reached Date|
Ally Financial Inc. latest news:
Moody's says it may downgrade McCormick by three notches after food deal
Moody's Investors Service placed McCormick & Co. Inc.'s A2 rating on review for a possible three-notch downgrade Wednesday, after the company unveiled plans to acquire Reckitt Benckiser Group Plc.'s food division for $4.2 billion. If the deal closes as currently outlined, it will involve a significant amount of debt that will raise McCormick's leverage and send its debt/EBITDA ratio to about 5.4 times, said the rating agency. McCormick would actually use $3.7 billion of debt to fund the deal and it would take it several years to come back to its pre-deal credit profile. "McCormick is acquiring iconic, market leading brands with higher profitability than its existing business, but is tripling its debt to do so" said Dominick D'Ascoli, Vice President - Senior Analyst at Moody's. "This significant increase in financial leverage overshadows the benefits of the acquisition and results in a credit profile that is no longer consistent with its prior rating." McCormick shares slid 5.2% on the news. The S&P 500 was up 0.4%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Occidental Petroleum raises dividend by a penny
Occidental Petroleum Corp. said Thursday it will raise its quarterly dividend by a penny, or 1.3%, to 77 cents share. The oil and gas exploration company said the new dividend will be payable Oct. 16 to shareholders of record on Sept. 11. At current stock prices, the new annual dividend rate of $3.08 a share implies a dividend yield of 5.20%, compared with the SPDR Energy Select Sector's yield of 2.59% and the S&P 500's implied yield of 1.99%. "The dividend increase reflects our commitment to growing Occidental's dividend annually for our shareholders, and our confidence in the company's financial strength and future performance," said Occidental Chairman Eugene Batchelder. The stock, which inched up 0.1% in afternoon trade, has dropped 17% year to date, while the energy ETF has lost 14% and the S&P 500 has gained 9.3%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
BRIEF-Ally announces non-objection to 2017 capital plan
* Ally Financial Inc - capital plan includes $0.04 increase
in quarterly cash dividend on common stock from $0.08 per share
to $0.12 per share, expected to begin in q3 2017
Wall Street's 'fear index' is on pace for its biggest daily pop in a month
A measure of implied volatility on Wall Street on Thursday was on track to post its largest one-day rise since mid-May as U.S. equities saw firm losses, pressured by a resumption of selling in the highflying technology sector. The CBOE Volatility Index, or VIX, known colloquially as Wall Street's fear gauge was up 10.5% at 11.76 at last check, putting it on track to rise by the most since May 17, when it popped more than 46%. The metric, which tracks options betting on moves in the S&P 500 index a month into the future, has been preternaturally quiescent over the past several months, but has had bouts of relative choppiness as investors fret about market valuations and absorb geopolitical developments, including the U.K.'s efforts to renegotiate longstanding trade agreements with the European Union. Thursday's action comes as the Nasdaq Composite Index , which is on pace to fall four of the past five trading sessions, was suffering a sharp early decline, down 1.1% and on track to post its first losing month since October. Valuations around popular tech giants, including Facebook Inc. , Amazon.com Inc. , Google Inc.-parent Alphabet , Apple Inc. , and Netflix Inc. have raised concerns that those companies, known as FAANG stocks, have risen too far, too fast and are due for a sharp pullback. That sentiment has pressured the rest of the market, which has been aided in its recent run to all-time highs by the tech rally. On Wednesday, the Dow Jones Industrial Average finished at a record despite a broad-market decline. Those moves came after the Federal Reserve lifted key interest rates a quarter-point and detailed its plans to normalize monetary policy and reduce its $4.5 trillion balance sheet, accumulated during the 2008-'09 financial crisis. An accommodative central bank has been seen by some as underpinning what has been a eight-year bull market in equities. The jump in the VIX, however, hasn't coincided with a clear flight to quality--typically associated with a rise in the fear index. Government bonds, for example, viewed as haven assets, were seeing some selling, with the 10-year Treasury note yield up 4.2 basis points at 2.17%, approaching its levels from the beginning of the week and well off its lows set Thursday. Bond prices and yields move inversely.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Wall Street banks enjoy their best week since President Trump's election
Banks shares are on track to log their best weekly gains since the week President Donald Trump was voted into the White House. Popular funds that track the financial sector, including the Financial Select Sector SPDR ETF , the SPDR S&P Bank ETF , and the regionally focused SPDR S&P Regional Banking ETF are all on pace to post their best weekly percentage gains since Nov. 11, according to FactSet data. Weekly gains for the XLF were more than 3%, while the other ETFs were on pace to show a gain of more than 5% over the past five trading sessions. Banks had been among the best performers in the wake of Trump's victory, which Wall Street welcomed with his pledge of deregulated markets, tax cuts and a plan to spend some $1 trillion on improving roadways, tunnels and bridges. However, financials had pulled back as Trump's pro-Wall Street agenda looked stalled by White House drama centered on Russia's ties with members of Trump's administration and his firing of ex-FBI Director James Comey, who was investigating those relationships. This week, however, banks have gotten a bid partially on the back of expectations that the Federal Reserve will lift interest rates at the conclusion of its two-day policy meeting on June 14. A slight reflation of benchmark Treasury yields [BX:TMUBMUSD10Y], which are still at very low levels, also has helped to stoke some hope that financials may see improved profitability, with higher rates viewed as supportive to their business models. Also on Thursday, the House of Representatives passed a bill to roll back so-called Dodd-Frank rules, intended to rein in bank activities after the 2008-'09 financial crisis. In Friday trade, the Dow Jones Industrial Average was being led higher by Goldman Sachs Group Inc. , boasting its best week since the week ended Nov. 11, and J.P. Morgan Chase & Co. , which were contributing near 40 points to the price-weighted blue-chip gauge. Banks were the best performer in the S&P 500 index , up 1.4%. Helping both indexes trade in record territory. Dick Bove, prominent bank analyst at Rafferty Capital, said investors should approach the bank rally with caution because he sees few signs that economic activity is picking up sufficiently to justify buying banks. "People believe there's going to be a surge in economic activity and that is going to increase bank earnings, but I don't see that happening yet," he said.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Navistar's stock rockets after analyst upgrade on belief results, truck industry on verge of a bottom
Shares of Navistar International Corp. ran up 9% in active midday trade Monday, after RW Baird turned bullish on the commercial and military truck and truck engine parts maker for the first time in at least 2 1/2 years. Analyst David Leiker raised his rating to outperform, after being at neutral since at least September 2014. "We believe Navistar is nearing the end of a half-decade transformation after a near-fatal decision to internally produce heavy-duty engines," Leiker wrote in a note to clients. "We believe the transformed Navistar is on the verge of driving higher volume, profit margins and earnings that could take the stock above $50 over the next several years." Leiker said the company's efforts have helped stabilize market share and have improved profitability, just as he expects truck industry volumes to bottom this year. After the Environmental Protection Agency's new emissions requirements in 2010, Navistar had pursued an "unsuccessful" engine strategy--exhaust gas recirculation--relative to the rest of the industry's selective catalytic reduction aftertreatment approach, Leiker said. Starting in 2012, Navistar abandoned its EGR approach, and changed its chairman, chief executive, chief financial officer and chief operating officer. The stock has lost 10% year to date, while the Dow Jones Transportation Average has gained 3.2% and the S&P 500 has climbed 8.8%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
LeBron James' Return To Cleveland Illustrates Remarkable Economic Experiment
Professional sports generate a tremendous amount of money, but it's tricky to know exactly what part of sports generates that money. LeBron James unintentionally ran a nearly perfect economic experiment by unexpectedly leaving Cleveland and then, three years later, returning with almost no warning. A pair of economists have now used James' prodigal son data to look at the financial impact a single superstar can have on a local economy.
Ally Offers P2P Financing, Insurance Through TRED
Ally Financial Inc. rolled out financing for peer to peer auto contracts through the TRED platform, and will add vehicle service contracts and guaranteed asset protection (GAP) directly to the online service, the companies announced in a joint press release today. The lender began offering financing in April, and plans toRead More
Ally Counts on Inventory Drop to Reduce Floorplan Balances by Midyear
Ally Financial Inc.’s floorplan outstandings climbed in the first quarter, but are expected to drop by midyear, according to Chief Financial Officer Chris Halmy. The $4 billion increase — to $35.4 billion — was primarily due to higher dealer inventory levels and an increase in higher priced vehicles, such asRead More
Auto Delinquencies Climb, Despite Low Unemployment
Historically, there has been a “very high correlation” between auto delinquencies and the unemployment rate, yet, today unemployment is the lowest it’s been in a decade while delinquencies have climbed to levels not seen since the financial crisis, Hylton Heard, senior director in Fitch Ratings’ U.S. ABS group, told AutoRead More
Ally’s Clearlane Platform to Add E-Signature
Ally Financial’s new online loan origination platform Clearlane will add e-contracting capabilities by July, which will allow consumers to electronically sign and submit financial contracts online, or via a mobile device, the lender announced in a press release today. Clearlane was launched in April after Ally bought BlueYield last year, andRead More
Ex-AIG CEO Greenberg loses appeal over 2008 bailout
(Reuters) - A federal appeals court threw out a ruling that the U.S. government illegally bailed out insurer American International Group Inc during the 2008 financial crisis, in a defeat for former chief executive officer Maurice "Hank" Greenberg.
Volvo Captive Seeks Off-Lease Vehicles, Despite Value Drop
Volvo Car Financial Services is looking to grow its lease penetration to deliver more “lightly used vehicles” to its dealer partners, the captive’s President Tony Nicolosi told Auto Finance News. Historically, Volvo Car Financial Services embarked on a “restart” in 2014 after the parent manufacturing company was sold by FordRead More
CORRECTED: PTC Therapeutics' DMD drug Emflaza to cost $35,000 a year and launch within the coming weeks
PTC Therapeutics Inc. said early Monday that it plans to launch the Duchenne muscular dystrophy drug Emflaza at a price of $35,000 a year and within the coming weeks. The price tag comes in below the controversial $89,000-a-year price set by Emflaza's previous owner, privately-held Marathon Pharmaceuticals, which faced so much backlash on the drug's price tag that it delayed Emflaza's launch. The price tag was especially controversial because the drug is part of a class of corticosteroids used for DMD in other parts of the world and available as cheaply as $1,000 a year. PTC Therapeutics said it believes the new price is "sustainable" and "balances providing access to all eligible patient in the United States in an ultra-orphan population while maintaining sufficient infrastructure and programs, including continued investment in Duchenne," said Chief Executive Officer Stuart Peltz, according to the FactSet earnings call transcript. "The factors in our decision include a consideration of the resources required to provide access to Emflaza for a small patient population to improve the standard of care and further the Duchenne community's educational need while enabling continual investment in therapies for rare diseases and providing financial return for our shareholders." PTC Therapeutics announced its plan to buy Emflaza in mid-March for about $75 million in cash and $65 million in PTC common stock. But it's possible the new, lower price tag may still prove controversial. "The question is how low is low enough, especially when patients (and now politicians, given all the noise) know that the drug is available overseas for $1,000/year?" RBC Capital Markets analyst Simos Simeonidis said in March. PTC Therapeutics shares were not yet active in pre-market trade on Monday. Shares have declined 7.5% over the last three months, compared with a 4.6% rise in the S&P 500 . An earlier version of this report said Emflaza would launch in the coming week, due to an error in the earnings call's FactSet transcript.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Ocwen Financial's stock rockets as New Residential deal includes upfront payment, equity stake
Shares of Ocwen Financial Corp. rocketed 41% in afternoon trade Friday, after the troubled financial services company announced a new proposed deal with New Residential Corp. that includes an upfront payment of $425 million to Ocwen and an equity stake. The stock was the biggest percentage gainer on the New York Stock Exchange. Volume spiked to over 22 million shares, or more than triple the full-day average. Ocwen said the new deal would convert New Residential's existing rights to mortgage service rights (MSRs) to fully-owned MSRs. In addition, New Residential would also make an equity investment in Ocwen and become a 4.9% owner. On April 20, the stock had lost more than half its value after North Carolina ruled the firm couldn't acquire new service rights. Despite Monday's rally, the stock has still tumbled 40% year to date, while the SPDR Financial Select Sector ETF has gained 2.0% and the S&P 500 has advanced 6.8%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Ally Financial Originates $8.9B Amid ‘Cautious’ Industry Tone, CFO Says
Despite a number of auto finance institutions reporting pullbacks in originations this week, Ally Financial Inc. kept originations relatively flat at $8.9 billion in the first quarter compared with the same period a year ago, the company reported this morning. “There is a more cautious tone across the industry, you’veRead More
House aims to rewrite consumer safeguards
A new plan could dramatically alter consumer protections enacted after the financial crisis.
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