Comstock Images/Stockbyte via Getty Images Ally Financial (NYSE:ALLY) stock perked up 2.3% in Monday morning trading after J.P. Morgan upgraded the auto lender to Neutral from Underweight as analyst Richard Shane thinks its credit, net interest margin and multiple trajectory “have been overly conservative.” “As the impact of less profitableContinue Reading
JHVEPhoto/iStock Editorial via Getty Images Discover Financial Services (NYSE:DFS) entered a settlement to resolve a class-action lawsuit accusing it of overcharging merchants, according to a recent filing with the U.S. Securities and Exchange Commission. The credit-card issuer had boosted its liability to provide refunds as a result of the cardContinue Reading
SEALSQ Corp (NASDAQ:LAES) said it anticipates a stronger H2 2024 and a return to growth in 2025. As of June 30, 2024, the company’s new business pipeline stood at $71 million, with a strong cash position of $19 million. Preliminary unaudited revenue of $5 million for H1 2024 is reflectiveContinue Reading
Altima Resources (TSXV:ARH:CA) Tuesday said that it has not been able to file its audited annual financial statements, management’s discussion & analysis, and related certifications in addition to its NI 51-101 Disclosure for Oil & Gas Activities for the fiscal year ended February 29, 2024, on or before June 28,Continue Reading
Rafe Swan/Cultura via Getty Images J.P. Morgan upgraded Principal Financial Group (NASDAQ:PFG) from Underweight to Neutral on favorable macro backdrop. “PFG has a superior business mix that carries less tail risk and will generate a higher ROE and better free cash flow than other life insurers,” the analysts said. TheContinue Reading
Drew Angerer/Getty Images News Capital One Financial (NYSE:COF) was added to Wells Fargo’s Q3 2024 Tactical Ideas List on Monday. The analysts said COF shares have upside due to reasons such as, odds of the DFS merger increasing towards the election, low-end consumer concerns fading and edging closer to reserveContinue Reading
Financial Select Sector SPDR Fund ETF (NYSEARCA:XLF), which tracks S&P 500 financials sector, has seen a slower second quarter and has fallen 1.9% since the start of April. The financials sector’s gain lagged behind the S&P 500’s rise of 4.1%. The sector, which showed consistent gains in the first threeContinue Reading
Nikada This week’s financial gainers were led by major Japanese lenders as the yen continued to weaken (significantly) against the dollar. On the flip side, bitcoin (BTC-USD) miners fell the most with cryptocurrency prices pulling back. Overall, financial stocks (with market cap over $2B) finished the week ended June 28Continue Reading
yongyuan/iStock via Getty Images Citizens Financial Group (NYSE:CFG) is set to effect a $1.25B share repurchase program after the bank reported a capital buffer exceeding the regulatory minimum. The new stock buybacks program represents an increase of $656M to the February 2023 authorization. The regional bank’s preliminary stress capital bufferContinue Reading
J. Michael Jones/iStock Editorial via Getty Images Truist Financial’s (NYSE:TFC) board gave the green light for a $5B share buyback program through 2026 starting in Q3 2024, it said on Friday. The company, meantime, plans to maintain its current quarterly dividend of $0.52 per share. After passing the Federal Reserve’sContinue Reading
