: Ally Financial stock rallies 20% to highest levels since September


Ally Financial Inc. ALLY, +20.01% stock rallied more than 20% on Friday to close above $31 a share for the first time since September, after the car and mortgage financing company beat Wall Street’s fourth-quarter earnings estimates and said it would surpass 2023 profit forecasts as well. The company earned $1.08 a share in the fourth quarter, ahead of the analyst estimate of 97 cents a share, with revenue of just under $2.20 billion, ahead of the estimate of $2.06 billion, according to estimates compiled by FactSet. Ally Financial said in its quarterly conference call with analysts that it expects 2023 adjusted earnings of about $4 a share, ahead of the expectation of $3.77 a share.

This article was originally published by Marketwatch.com. Read the original article here.

Previous articleMarket Snapshot: S&P 500 rises sharply, Nasdaq erases weekly losses as Netflix, Alphabet jump
Next articleElon Musk takes the stand in trial over Tesla tweets


Please enter your comment!
Please enter your name here