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Ally Financial Inc. stock price
Ally Financial Inc. latest news:
U.S. market regulators said system functioning amid stock selloff
WASHINGTON, Feb 6 (Reuters) - U.S. Securities and Exchange
Commission Chairman Jay Clayton said on Tuesday he "can't really
say" what caused the dramatic drop in stock prices during recent
trading sessions, but that all signs indicate financial markets
are functioning normally.
CDC chief bought tobacco stock after taking office: report
Brenda Fitzgerald, President Donald Trump's director of the Centers for Disease Control and Prevention, bought and sold shares in a tobacco company after taking office last year, Politico reported Tuesday, posing a potentially serious conflict of interest. Preventing smoking is a major focus of the CDC. A spokeswoman for the Department of Health and Human Services confirmed the "potentially conflicting" stock purchase to Politico, and said they were made by her financial adviser, and she later sold them. Citing disclosure forms, Politico reported Fitzgerald bought between $1,000 and $15,000 worth of stock in Japan Tobacco Inc. , which owns U.S. brands such as Winston, Camel and Benson & Hedges. She also bought between $1,000 and $15,000 worth of shares in health-care companies Merck & Co. , Bayer and health insurer Humana . Fitzgerald, who took office in July, made the purchases in August and September and sold all her stock holdings by the end of November, Politico reported. Critics called the stock moves "at best, sloppy," at worst "legally problematic," Politico 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.
As DriveTime’s Losses Surge, Ally Financial Extends Credit Line
Ally Financial Inc. is opening a $750 million line of credit to make loans through DriveTime Automotive’s network of used car dealers, the companies announced in a joint press release Wednesday. Following a year in which DriveTime saw losses surge 387%, the agreement is meant to help the company extend more into near-prime segments, according […]
BRIEF-Ally To Finance Up To $750 Million In Retail Contracts From Drivetime
Ally Financial Inc(ALLY): * ALLY TO FINANCE UP TO $750 MILLION IN RETAIL CONTRACTS FROM DRIVETIME. * Ally Financial Inc(ALLY) - UNDER TERMS OF AGREEMENT, ALLY WILL PROVIDE COMMITTED FINANCING FOR PURCHASE OF RETAIL CONTRACTS FOR 12 MONTHS Source text for Eikon: Further company coverage:
AMD, Nvidia stocks rise after Morgan Stanley says Ethereum rally will help results
Shares of Advanced Micro Devices Inc. and Nvidia Corp. are up 2.4% and 1.5%, respectively, in Tuesday morning trading after Morgan Stanley analyst Joseph Moore penned an upbeat note about their cryptocurrency mining businesses. He initially expected that mining revenue would "decelerate meaningfully" beginning in the fourth quarter, but he's more optimistic now given higher Ethereum prices. He increased his quarterly revenue estimates for both firms by $100 million, though he cautions that at AMD especially, the mining business could be masking weakness in other areas of the company. "Certainly a shortage in AMD graphics cards is limiting traction in the longer-lived gaming business," he wrote. Analysts at Susquehanna Financial Group also talked up the two firms' crypto businesses in a note last week. AMD shares are up 31% over the past 12 months, while Nvidia shares have gained 125%. The Philadelphia Semiconductor Index is up 50% in that time, compared with a 25% gain for the S&P 500 .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.
CANADA STOCKS-TSX rises, led by bank and railroad shares
TORONTO, Jan 19 (Reuters) - Canada's main stock index rose
on Friday in a broad-based rally led by financial and industrial
shares, while lower oil prices weighed on energy stocks.
Financial system safer, but risks lie ahead, bank regulator says
Underwriting practices are easing "incrementally" and loan portfolios are becoming more concentrated, leading to "heightened risk" if the economy weakens or markets tighten quickly, the Office of the Comptroller of the Currency said Thursday. Those remarks came from the bank regulator's semiannual risk perspective for fall 2017. Another risk to the financial system, the OCC said, was that "cyber threats are increasing in speed and sophistication." Finally, the regulator noted that compliance risk "remains elevated" in large part because consumer compliance regulations are becoming increasingly complex.
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.
Toyota Financial Tests At-Home E-Contracting in Pilot
Toyota Financial Services is running a pilot in which consumers can electronically sign all financial and ancillary product documentation before going into the dealership to pick up their vehicle, according to the technology provider RouteOne. The pilot is currently active at just one Toyota dealership, as well as across the company’s employee-leasing program, according to […]
AI in Auto Finance Overtakes List of 2017’s Most-Read Mobility Stories
It seems 2017 officially reached the mobility tipping point, where autonomous vehicles, car subscriptions, and mobility services have continually gained momentum. Artificial intelligence got its fair share of interest from the auto finance industry, as many lenders looked to machine learning to bolster credit decisioning, among other use-cases. Meanwhile, Daimler Financial Services and RCI Bank […]
Sears to extend maturity date on term loan, plans on new credit facility
Sears Holdings Corp. said late Tuesday it has agreed to extend the maturity of an existing term loan originally maturing June 2018 to January 2019, with an option to further extend the maturity to July of that year. Sears paid down the term loan by $325 million in the fourth quarter, reducing the outstanding balance to about $400 million and bringing the total term loan repayment in 2017 to about $570 million, the company said in a statement. Sears also said it plans to get a new security credit facility, intending to use the proceeds to fund the payment of about $407 million in the Sears pension plans and for general purposes. Sears has "taken further action to provide the company with additional financial flexibility as we enter 2018," Chief Financial Officer Rob Riecker said. Sears continues to "explore alternatives" around debt maturities to reduce cash interest payments and get more flexibility, he said. Shares of Sears rose 4.8% in the late session after ending the regular trading day down 5.9%. 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.
Facebook to direct fewer ad sales through low-tax Ireland
Facebook Inc. said Tuesday that it will record advertising revenue in countries where it sells ads instead of at its Dublin, Ireland, headquarters. The company said in a blog that it aims to complete the transition by the first half of 2019 and anticipates that it will require significant resources to implement around the world. "We believe that moving to a local selling structure will provide more transparency to governments and policy makers around the world who have called for greater visibility over the revenue associated with locally supported sales in their countries," Facebook Chief Financial Officer Dave Wehner said in the blog post. While it's unclear from the blog exactly how much revenue Facebook is talking about, the company records 47% of its revenue in the U.S., according to FactSet. The change would significantly boost Facebook revenue recorded in 27 countries including Germany, Japan and Argentina likely increasing the tax bill in those countries, according to The Wall Street. Facebook shares have gained 54% this year, with the S&P 500 index gaining 19%.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 to Appoint New CFO Amid Chris Halmy’s Retirement
Ally Financial Inc.’s long-time Chief Financial Officer Chris Halmy is retiring from his post in March as Jenn LaClair steps up to take his place, the company announced in a press release today. LaClair, 46, will take on the role of chief financial officer designate, effective Dec. 18, until the transition is complete. At […]
Wells Fargo near highs of the day, following Trump tweet about possible increased fines
Wells Fargo & Co. was trading near highs of the day, up 0.7%, after a tweet from the president saying fines could be "substantially increased." President Trump was pushing back against a report from Reuters, citing three sources, which said that fines pursued by the Consumer Financial Protection Bureau are being reviewed by Interim Director Mick Mulvaney. Under the CFPB's prior director, the report said Wells Fargo had agreed to pay tens of millions of dollars in fines over alleged mortgage lending abuse. "Fines and penalties against Wells Fargo Bank for their bad acts against their customers and others will not be dropped, as has incorrectly been reported, but will be pursued and, if anything, substantially increased. I will cut Regs but make penalties severe when caught cheating," the president tweeted.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.
Lawmakers seek to block new restrictions on 'payday' lenders
A group of lawmakers in the House, including several prominent Democrats, introduced a bill to block a rule that would make it harder for Americans to obtain short-term loans from "payday lenders. These lenders make money available at high interest rates to millions of customers who typically are poor or have shaky credit. The Consumer Financial Protection Bureau adopted a controversial rule last month that could put many payday lenders out of business or sharply curtail their businesses. The CFPB contends payday loans take advantage of borrowers and put them into deeper debt. Yet critics, including some Democrats, say the new CFPB rules go too far. In many cases borrowers unable to procure loans or cash checks at traditional banks would have no where else to turn if they could not go to a payday lender, critics contend. 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.
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