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Fly News Breaks for April 9, 2018
DFS, ALLY
Apr 9, 2018 | 06:53 EDT
As previously reported, Stephens analyst Vincent Caintic upgraded Ally Financial (ALLY) and Discover (DFS), both to Equal Weight from Underweight, as he does not think shares of either have downside from their current levels. He notes Ally shares are down 9% year-to-date, while Discover shares have declined 9% in 2018 as well. Still, he is concerned about U.S. consumer credit broadly and continues to think Discover will underperform relative to the credit card space and that Ally will underperform other auto lenders, Caintic tells investors. He set a $29 price target on Ally shares and a $73 target on Discover.
News For ALLY;DFS From the Last 2 Days
ALLY, DFS
Mar 28, 2024 | 06:11 EDT
In a regulatory filing on Wednesday, Discover (DFS) announced that its board accepted the resignation of Michael G. Rhodes from his positions as CEO and President of the company, a member of the board and a director and officer of Discover Bank, each effective April 1. Rhodes, who was not expected to have a long-term role at the combined company after completion of the company's merger with Capital One (COF), informed the board that he has accepted a job offer at another financial institution. Also on Wednesday, Ally Financial (ALLY) announced that Rhodes will be its new CEO, starting at the company on April 29.
DFS, ALLY
Mar 27, 2024 | 16:14 EDT
Ally Financial (ALLY) announced that Michael Rhodes will be its new CEO, starting at the company on April 29. He will also be appointed as a member of Ally's board of directors at that time. Rhodes most recently served as CEO of Discover Financial Services (DFS) and was a member of the company's board of directors. He additionally held the role of President of Discover Bank and sat on the Bank's board of directors.