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July 31, 2014
06:09 EDTSYFSynchrony Financial 125M share IPO priced at $23.00
The deal priced at the low-end of the $23.00-$26.00 range. Goldman, JPMorgan, Citigroup, Morgan Stanley, Barclays, BofA/Merrill, Credit Suisse and Deutsche Bank acted as joint book running managers for the offering.
News For SYF From The Last 14 Days
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April 17, 2015
11:00 EDTSYFSynchrony Financial will not return dividends, buybacks till after separation
Synchrony Financial (SYF) does not expect to have any dividends or buybacks till it is fully separated from General Electric (GE). It expects capital to grow in that time. The company adds that it expects credit trends will continue to be stable and it is seeing impact of compelling new value propositions. Comments taken from Q1 earnings conference call.
09:06 EDTSYFSynchrony Financial reports Q1 provision for loan losses $687M
Synchrony (SYF) reports Q1 provision for loan losses decreased $77M to $687M largely due to improved asset quality trends. Reports estimated Tier 1 Common Equity ratio under Basel I was 16.9% and the estimated fully phased-in Common Equity Tier 1 ratio under Basel III was 16.4%. Q1 return on assets was 3.0% and return on equity was 20.8%. Net interest margin declined 304 basis points to 15.79%, primarily due to the impact from the significant increase in liquidity versus the prior year. Efficiency ratio increased to 32.2%, mainly due to increased investments in growth and infrastructure build in preparation for separation from GE (GE).
09:04 EDTSYFSynchrony Financial says separation from General Electric on track
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09:02 EDTSYFSynchrony Financial reports Q1 EPS 66c, consensus 64c
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April 16, 2015
15:23 EDTSYFNotable companies reporting before tomorrow's open
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08:46 EDTSYFGoldman says to buy Synchrony Financial and Capital One into Q1
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08:45 EDTSYFSynchrony Financial extends consumer financing agreement with MEGA Group USA
Synchrony Financial announced a multi-year extension of its private label credit card financing program with MEGA Group USA, a 1,700-member national home furnishings buying group of independent retailers with more than 2,500 locations nationwide. The MEGA Group USA private label credit card was introduced in 2000 as part of the organizationís commitment to provide business services and resources that contribute to the growth and success of its independent member appliance, furniture, mattress, electronics, seasonal and outdoor retailers.
April 15, 2015
08:46 EDTSYFSynchrony Financial, Pep Boys extend consumer financing program
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April 14, 2015
08:49 EDTSYFSynchrony Financial, Guitar Center announce multiyear agreement
Synchrony Financial announced a new, multi-year agreement with Guitar Center to provide a private label credit program for customers of the retailer of musical instruments and recording equipment.
April 10, 2015
16:14 EDTSYFOn The Fly: Closing Wrap
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07:44 EDTSYFGE targeting Synchrony Financial separation to close by year-end 2015
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April 8, 2015
06:30 EDTSYFCapital One remains top card issuer pick at Citigroup
In its preview of Q1 results, Citigroup says Capital One (COF) remains its top pick among the card issuers given the company's "strong" card loan growth, capital return and "reasonable" valuation. Citi keeps a Buy rating on the stock with a $95 price target. The firm continues to see a "modestly" improving U.S. consumer, and also has Buy ratings on American Express (AXP), Discover (DFS), MasterCard (MA), Synchrony Financial (SYF) and Visa (V). Citi thinks investor sentiment has become more negative for card issuers around provisioning for loan growth with the group posting mixed stock performance thus far in 2015.

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