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Market Wrap For May 20: Markets Sharply Lower On Fed Talk, Disappointing Earnings
Tuesday, May 20, 2014 - 4:42pm | 2471Read More...U.S. stocks declined following troubling words from a Federal Reserve official. In a speech delivered Tuesday, the Fed's Charles Plosser hinted that the Federal Reserve should reduce the pace of its asset purchases in measured steps but an increase in interest rates “may come sooner than many...
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Market Wrap For April 10: Wednesday's Rally Completely Forgotten
Thursday, April 10, 2014 - 4:33pm | 2616Read More...U.S. stocks tumbled as investors and traders showed no intention of allowing Wednesday's bull charge to continue. The Nasdaq index continues to under-perform and notched its worst one day performance since 2011. The decline in the Nasdaq index continues to be fueled by biotech and momentum...
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Market Wrap For January 17: Stocks Finish Week With Mixed Results
Friday, January 17, 2014 - 5:40pm | 2758Read More...Stocks traded mostly lower today as investors digested a new set of earnings that were disappointing. A mixed housing data and a consumer sentiment coming in lower than expected was enough to tame the bulls as major indices finished the day mixed. Markets will be closed on Monday for Martin...
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Ally Financial Statement on Foreclosure Deal
Thursday, February 9, 2012 - 3:00pm | 164Read More...Ally Financial Inc. and its mortgage subsidiary, Residential Capital, LLC, have reached an agreement in principle with the federal government and state attorneys general on foreclosure-related matters. The agreement brings closure to these issues and enables the company to move forward in our...
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Will Detroit Benefit From the Automotive IPO Trend?
Friday, June 3, 2011 - 11:00am | 508Read More...There's a new trend for Detroit businesses: IPOs. It began last November when Reuters reported that the beleaguered automotive corporation General Motors (NYSE: GM) had the largest IPO on record, raising over $20 billion. According to The Detroit News, Delphi intends to follow suit, as the...
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Ally Financial Files $100 Million IPO
Thursday, March 31, 2011 - 11:10am | 167Read More...Ally Financial has filed a $100 million IPO. The underwriters on the deal are Citigroup, Goldman Sachs, J.P. Morgan, and Morgan Stanley. Here is the Overview of the company's IPO statement: "Ally operates one of the world's largest automotive finance companies. We have over 90 years of...
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Ally Financial IPO Sized to $5B to $10B
Wednesday, January 26, 2011 - 12:45pm | 14Read More...Ally Financial IPO sized to $5B to $10B. US Treasury owns 74% of the company.
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GM To Repurchase Ally Financial?
Wednesday, January 12, 2011 - 10:02am | 281Read More...JP Morgan has published a research report on General Motors (NYSE: GM) after visiting the 2011 Detroit International Auto Show in Michigan. In the report, JP Morgan writes "Recent media articles have suggested GM may be interested in repurchasing parts of its former auto financing subsidiary (now...
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GMAC Temporarily Halts Evictions in 23 States
Monday, September 20, 2010 - 3:05pm | 334Read More...Ally Financial Inc.'s mortgage unit, formerly GMAC, has temporarily suspended evictions and some bank-owned closings on homes in 23 states, reported the Washington Post, today. In an internal memo dated Sept. 17 and marked "urgent," brokers and agents of the company's GMAC mortgage unit were...
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Ally May Go Public Next Year, Could Be Worth $30 Billion
Wednesday, August 4, 2010 - 12:37pm | 316Read More...In an attempt to pay back taxpayers, Ally Financial may seek to go public next year as it hopes to pay back part or all of the $17 billion U.S. taxpayers funded it with writes Bloomberg. After GM purchased subprime car lender AmeriCredit Corp. for $3.5 billion, the value of Ally may be worth as...
