ALLY Stock Recent News

Ally Financial is set to exit the mortgage origination and credit card businesses. It intends to right-size the organization and focus on the auto business.

Ally Financial is reportedly cutting staff, ending mortgage originations and rethinking its credit card business. The company will lay off less than 5% of its workforce, Bloomberg News reported Wednesday (Jan. 8), citing a statement from an Ally spokesperson.

Berkshire Hathaway (BRK.A 0.29%) (BRK.B 0.34%) owns about 45 stocks in its $300 billion portfolio, many of which were hand-selected by CEO and legendary investor Warren Buffett himself. While there's a solid case to be made in favor of pretty much every stock Berkshire owns, there are some that look more attractive than others right now.

BTIG reiterated a Buy rating and $295 price target on Carvana (CVNA) after the company amended its Master Purchase and Sale Agreement with Ally Financial (ALLY) last Friday, extending it until January 2, 2026. The firm noted that a major part of a recent short thesis was focused on how Ally may be concerned about the credit quality of Carvana's finance receivables and how large it was as a percentage of Ally's book, with the renewal demonstrably countering those concerns. The analyst added that such recent developments have given the firm incremental confidence in its position, as it has "poked at least one hole" in the short thesis. Carvana +3.435 (+1.94%) Ally Financial +0.89 (+2.48%)

Don't expect Warren Buffett to predict which stocks in Berkshire Hathaway's portfolio will be the biggest winners in 2025. He would be the first to tell you he doesn't know how any given stock will perform over the next 12 months.

Ally Financial (ALLY) came out with quarterly earnings of $0.95 per share, beating the Zacks Consensus Estimate of $0.57 per share. This compares to earnings of $0.83 per share a year ago.

CHARLOTTE, N.C. , Oct. 18, 2024 /PRNewswire/ -- Ally Financial Inc. (NYSE: ALLY) today reported its third quarter 2024 results.

Get a deeper insight into the potential performance of Ally Financial (ALLY) for the quarter ended September 2024 by going beyond Wall Street's top -and-bottom-line estimates and examining the estimates for some of its key metrics.

ALLY, CAR and DNOW have been added to the Zacks Rank #5 (Strong Sell) List on October 11, 2024.

Both offer high yields in a turbulent time.