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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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October 30, 2014
10:02 EDTALLYOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Ally Financial (ALLY) upgraded to Buy from Hold at Deutsche Bank... Banco Bradesco (BBD) upgraded to Overweight from Neutral at JPMorgan... Cree (CREE) upgraded to Neutral from Underperform at BofA/Merrill... Finish Line (FINL) upgraded to Overweight from Neutral at Piper Jaffray... Grand Canyon (LOPE) upgraded to Overweight from Neutral at Piper Jaffray... Hess Corp. (HES) upgraded to Outperform from Sector Perform at Howard Weil... Ignite Restaurant (IRG) upgraded to Market Perform from Underperform at Raymond James... Lowe's (LOW) upgraded to Buy from Neutral at Goldman... MakeMyTrip (MMYT) upgraded to Buy from Hold at Deutsche Bank... MicroStrategy (MSTR) upgraded to Overweight from Equal Weight at First Analysis... Moelis (MC) upgraded to Positive from Neutral at Susquehanna... PG&E (PCG) upgraded to Neutral from Sell at Goldman... RF Micro Devices (RFMD) upgraded to Buy at Canaccord... Ruckus Wireless (RKUS) upgraded to Equal Weight from Underweight at Morgan Stanley... STMicroelectronics (STM) upgraded to Neutral from Sell at UBS... Sealed Air (SEE) upgraded to Market Perform from Underperform at Wells Fargo... Software AG (STWRY) upgraded to Neutral from Underweight at JPMorgan... Southwest (LUV) upgraded to Neutral from Underweight at JPMorgan... Sprint (S) upgraded to Neutral from Underperform at Credit Suisse... SunPower (SPWR) upgraded to Buy from Hold at Canaccord... Take-Two (TTWO) upgraded to Buy from Hold at Brean Capital... TriQuint (TQNT) upgraded to Buy at Canaccord... Visa (V) upgraded to Outperform from Market Perform at FBR Capital... Whiting Petroleum (WLL) upgraded to Overweight from Equal Weight at Stephens.
07:56 EDTALLYAlly Financial upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank upgraded Ally Financial to Buy saying the Fed is likely to allow the company to redeem its Series G preferreds, which it estimates would save $200M a year and boost return on equity by up to 300 basis points. The firm has a $26 price target for shares.
06:04 EDTALLYAlly Financial upgraded to Buy from Hold at Deutsche Bank
October 29, 2014
08:06 EDTALLYAlly Financial reports Q3 adjusted EPS 53c, consensus 42c
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