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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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July 1, 2015
07:49 EDTALLYAlly Financial likely to be added to S&P 500 in near-term, says Bernstein
Bernstein believes that Ally meets the criteria for the S&P 500 and has a larger market cap than 23% of S&P 500 financial companies. The firm expects Ally to be one of the next stocks added to the S&P 500. It keeps an Outperform rating on the shares.
June 30, 2015
10:01 EDTALLYOn The Fly: Analyst Initiation Summary
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June 29, 2015
17:11 EDTALLYAlly Financial initiated with a Buy at Guggenheim
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