Ally Financial Stock Surges

Ally Financial Stock Surges as Company Beats Profit Estimates, Sells Credit Card Business
Key Takeaways Ally Financial posted fourth-quarter earnings and revenue that topped estimates as it reduced expenses.CEO Michael Rhodes said Ally "took significant action" in the quarter to improve its finances.
Ally Financial offloads credit card business, $2.3B loan portfolio
CardWorks agreed to buy the business, including a $2.3 billion credit-card loan portfolio with 1.3 million active cardholders as of the end of last year, Ally said. Additional terms of the deal weren’t disclosed in a Wednesday statement, but Ally paid around $750 million for the business in 2021. Bloomberg reported on the pending sale in November.
Ally Financial stock surges after strong Q4 results, agreement to sell card business
Ally Financial (ALLY) stock jumped 8.6%in Wednesday premarket trading after the lender posted stronger-than-expected Q4 results and announced an agreement to sell its card business.
Ally Financial sells credit card business to CardWorks
Ally Financial Inc. (NYSE: ALLY) and CardWorks, Inc. today announced that they have entered into a definitive agreement for CardWorks, and its wholly-owned bank subsidiary, Merrick Bank, to acquire Ally's credit card business,
Ally Financial to sell credit card business
Ally Financial Inc. (NYSE: ALLY) has entered into an agreement to sell its credit card division to CardWorks Inc., along with its subsidiary, Merrick Bank.
Ally Financial Shares Rise on Strong 4Q, Card Business Sale
Shares of Ally Financial advanced after fourth-quarter results beat analyst projections and the company inked a deal to sell its credit-card business. The stock was up 5% at $40.08 in early trading. Shares are up 11% since the year started and were trading at around $36.32 this time a year ago.
Ally drops credit card business, posts quarterly profit
Auto lender Ally Financial said Wednesday that it's officially ending its foray into credit cards under a broader restructuring, even as credit issues in its flagship auto loan business showed signs of waning.
Ally and CardWorks Reach Agreement on Sale of Ally's Credit Card Business
Ally Financial Inc. (NYSE:?ALLY) and CardWorks, Inc. today announced that they have entered into a definitive agreement for CardWorks, and its wholly-owned bank subsidiary, Merrick Bank, to acquire Ally's credit card business,
Ally steers back to auto after brief credit card venture
The auto lender is selling its credit card business and halting new mortgage loans, abandoning its once-broader ambitions.
Ally Financial (ALLY) Q4 2024 Earnings Call Transcript
Welcome to the fourth quarter 2024 Ally Financial earnings conference call. [Operator instructions] Please be advised that ...
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Ally Financial Stock Soars Pre-Market As Q4 Net Income More Than Doubles: Retail’s Exuberant
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