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Stock Market & Financial Investment News

News Breaks
August 14, 2014
09:30 EDTALLYTreasury to sell additional Ally Financial stock
he U.S. Department of the Treasury announced that it would continue to wind down its investment in Ally Financial by selling additional shares of common stock through its first pre-defined written trading plan. Treasury currently holds 75,065,340 shares, or approximately 16% of Ally common stock. "Treasury's sale of additional Ally common stock is part of our continuing effort to wind down the Troubled Asset Relief Program," said Chief Investment Officer Charmian Uy. "We will prudently exit the remaining Ally investment, balancing speed with maximizing returns for taxpayers." As part of Ally's initial public offering in April, Treasury sold 95M shares of Ally common stock at $25.00 per share for $2.375B dollars in proceeds to taxpayers. The underwriters of the IPO later exercised their option to purchase 7,245,670 additional shares at the IPO price, recovering an additional $181M for taxpayers. Taxpayers have now recovered approximately $17.8B on the Ally investment, roughly $650M more than the original $17.2B investment.
News For ALLY From The Last 14 Days
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December 19, 2014
09:28 EDTALLYOn The Fly: Pre-market Movers
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09:17 EDTALLYAlly Financial exits TARP
Ally Financial announced that the U.S. Department of the Treasury has sold its remaining 54.9M shares of Ally common stock at $23.25 per share and as a result, Ally will have exited the Troubled Asset Relief Program, or TARP, upon settlement of the sale. The U.S. Treasury received $19.6B in total on the $17.2B Ally investment, which is $2.4B more than originally invested.
09:12 EDTALLYAlly Financial 54.926M share Spot Secondary priced at $23.25
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06:32 EDTALLYAlly Financial received DOJ subpoena over subprime automotive finance
Ally Financial disclosed in a regulatory filing last night that it recently received a subpoena from the Department of Justice requesting information in connection with its investigation related to subprime automotive finance and related securitization activities. Other financial institutions have disclosed receiving similar requests earlier this year, it added. Ally Financial also announced that at the request of the DOJ, it recently entered into an agreement to voluntarily extend the statutes of limitations to allow the agency to continue its investigation of potential claims under the False Claims Act related to representations made by Ally regarding Residential Capital, the company's former mortgage subsidiary, in connection with investments in Ally made by the United States Department of the Treasury pursuant to the Troubled Asset Relief Program beginning six years ago, in December 2008.
December 18, 2014
18:22 EDTALLYOn The Fly: After Hours Movers
UP AFTER EARNINGS: Red Hat (RHT), up 9.3%... Pier 1 Imports (PIR), up 8%... NQ Mobile (NQ), up 9.3%... Cintas (CTAS), up 6.3%. ALSO HIGHER: Aratana Therapeutics (PETX), up 25.9% after candidate for dog osteoarthritis shows positive results... Ally Financial (ALLY), up 5% after announcing that it will exit the Troubled Asset Relief Program. DOWN AFTER EARNINGS: Nike (NKE), down 2.7%. ALSO LOWER: American Apparel (APP), down 2.8% after New York Post reports on takeover bid.
17:35 EDTALLYAlly Financial to exit Troubled Asset Relief Program
The U.S. Department of the Treasury launched an offering to sell its remaining 54,926,296 shares of Ally common stock. Upon completion of the transaction, Ally will exit the Troubled Asset Relief Program . Prior to this transaction, the U.S. Treasury has received $18.3B on a $17.2B investment in Ally, representing excess proceeds of $1.1B thus far.
17:22 EDTALLYAlly Financial files automatic common stock shelf
December 17, 2014
16:33 EDTALLYAlly Financial initiated with a Buy at Jefferies
Target $27.

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