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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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February 20, 2015
08:11 EDTALLYAlly CEO exploring subprime lending, sees loss of GM business, Detroit News says
Ally (ALLY) CEO Jeffrey Brown stated in a Thursday interview with The Detroit News that the company may return to offering credit cards and home mortgages, and currently plans to expand auto lending to subprime customers. The CEO said he expects to decide within 30-60 days whether Ally will consolidate its five locations to a single headquarters in the Detroit suburbs. Brown added that he expects GM (GM) to shift its $4.1B subsidized leasing program for Chevrolet from Ally to GM Financial, which the Ally CEO wants to offset by increasing subprime lending from 9% of total lending to 12%-15%. Reference Link
07:04 EDTALLYAlly CEO assuming company will lose all of GM's leasing business, Reuters says
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February 13, 2015
17:52 EDTALLYThird Point gives quarterly update on stakes
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February 12, 2015
10:00 EDTALLYOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Ally Financial (ALLY) upgraded to Outperform from Market Perform at Bernstein... BGC Partners (BGCP) upgraded to Outperform from Market Perform at Keefe Bruyette... Ballard Power (BLDP) upgraded to Buy from Hold at Lake Street... Copa Holdings (CPA) upgraded to Buy from Hold at Deutsche Bank... HubSpot (HUBS) upgraded to Overweight from Neutral at JPMorgan... INC Research (INCR) upgraded to Outperform from Neutral at RW Baird... Mosaic (MOS) upgraded to Buy at UBS... NICE Systems (NICE) upgraded to Equal Weight from Underweight at Barclays... Skechers (SKX) upgraded to Neutral from Underperform at Buckingham... TubeMogul (TUBE) upgraded to Buy from Neutral at Citigroup... Urban Outfitters (URBN) upgraded to Buy from Neutral at Goldman... Willis Group (WSH) upgraded at Morgan Stanley.
06:45 EDTALLYAlly Financial upgraded to Outperform with $29 target at Bernstein
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06:08 EDTALLYAlly Financial upgraded to Outperform from Market Perform at Bernstein

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