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Hot Stocks
LendingClub reduces approval rates for certain higher-risk borrower populations » 17:44
03/30/20
03/30
17:44
03/30/20
17:44
LC

LendingClub

$8.20 /

-0.25 (-2.96%)

LendingClub said in a…

LendingClub said in a regulatory filing: "We're committed to our members' financial success and are doing everything we can to help them stay on track throughout this period. We are waiving late fees starting April 1st through May 31st. We've rapidly added new collections and servicing capabilities, ranging from remote-work kits for our customer service teams, to tripling the number of people available to help over the phone, to adding new hardship plans (which enable eligible borrowers flexibility to make interest-only payments for a few months). Consistent with best practices and regulatory guidance, we have also designed a hardship plan specifically for this situation that allows eligible borrowers to easily skip up to two monthly payments and launched a self-service tool last week to allow people to apply for a hardship plan online. To date, as a percentage of our portfolio, the number of borrowers requesting hardship plans has been relatively small at less than 2% of total loans outstanding. The majority of those calling in are in current status (meaning they haven't missed any payments to date and are proactively calling to let us know they think they'll be impacted). We expect to continue to develop plans to help our borrowers during this difficult time. There will be a temporary impact on investors' cash flow due to borrowers enrolling in these programs, but it's too early to estimate the ultimate effect on investor returns given the uncertain impacts of several factors, such as the total number of Americans who ultimately experience income dislocations as well as the potentially positive impact of the historic government stimulus package. In the meantime, we have taken fast and aggressive action with the aim of protecting our investors' returns on new issuance. We reduced approval rates for certain higher-risk borrower populations and increased income and employment verification requirements. Today, we announced increased interest rates for new borrowers ranging from 2% to 4% depending on loan grade. As a reminder, as we focus on borrowers with higher credit quality, investors may see fewer grade C and D loans available on the platform. Individual investors who are overweight those grades should consider the effects of cash drag on their portfolio and whether or not to reallocate now in line with their investment objectives. These are difficult times for many people. We hear the pain in our borrowers' voices when they call and are doing everything we can to help. We will continue to keep our investors posted and encourage them to reach out to us at [email protected] with any questions."

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Hot Stocks
LendingClub has sufficient liquidity to sustain itself through 2021 » 17:25
03/23/20
03/23
17:25
03/23/20
17:25
LC

LendingClub

$7.91 /

-0.835 (-9.55%)

As previously disclosed,…

As previously disclosed, LendingClub has proactively taken actions for the benefit of our platform investors and borrowers while we assess the long-term impact of COVID-19, the coronavirus, pandemic on our members, our business and the economy. A principal benefit of our marketplace model is the ability to quickly adapt to changing market conditions. Like many other businesses during this challenging period, we are focused on serving our customers. To that end, in partnership with our issuing bank, we are prioritizing the needs of our 3 million+ members, many of whom become repeat borrowers at little to no incremental customer acquisition cost to LendingClub. " We believe we have sufficient cash and liquidity to sustain our business through 2021 after running our business through numerous stress scenarios. As of March 20, 2020, LendingClub's balance sheet includes approximately $365 million in unencumbered liquidity, of which $315 million is in cash and cash equivalents. We also have approximately $555 million outstanding principal balance of personal loans held for sale, with associated durable, committed revolving warehouse credit facilities outstanding of $373 million. To further manage liquidity and minimize use of our balance sheet, we are focusing on whole loan sales, reducing structured programs and reducing overall platform volume until the market stabilizes. Additionally, over the past few years we have taken deliberate actions to mitigate increases in fixed costs. A significant portion of our expense base also consists of variable costs that will decrease as we reduce overall platform volume."

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Conference/Events
LendingClub management to meet with BTIG » 04:55
03/17/20
03/17
04:55
03/17/20
04:55
LC

LendingClub

$7.96 /

-0.885 (-10.01%)

Meetings to be held in…

Meetings to be held in San Diego/Los Angeles on March 16-17 hosted by BTIG.

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Conference/Events
LendingClub management to meet with BTIG » 04:55
03/16/20
03/16
04:55
03/16/20
04:55
LC

LendingClub

$8.85 /

+0.29 (+3.39%)

Meetings to be held in…

Meetings to be held in San Diego/Los Angeles on March 16-17 hosted by BTIG.

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Conference/Events
LendingClub management to meet with BTIG » 09:51
03/11/20
03/11
09:51
03/11/20
09:51
LC

LendingClub

$9.92 /

-0.3 (-2.94%)

Meetings to be held in…

Meetings to be held in San Diego/Los Angeles on March 16-17 hosted by BTIG.

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Over a month ago
Hot Stocks
Fin-tech, online broker stocks pressured after Robinhood outage » 13:26
03/03/20
03/03
13:26
03/03/20
13:26
AMTD

TD Ameritrade

$40.38 /

-3.29 (-7.53%)

, ETFC

E-Trade

$45.44 /

-1.64 (-3.48%)

, SCHW

Charles Schwab

$38.83 /

-3.14 (-7.48%)

, IBKR

Interactive Brokers

$52.23 /

-2.09 (-3.85%)

, SQ

Square

$77.82 /

-2.94 (-3.64%)

, FISV

Fiserv

$110.62 /

-3.67 (-3.21%)

, LC

LendingClub

$10.75 /

-0.48 (-4.27%)

Shares of Financial…

Shares of Financial technology firms and online brokers are feeling the fallout of stock trading app Robinhood's outage on Tuesday. Shares of fin-tech leaders like Square (SQ), which rolled out zero-fee stock trading on its cash app this past October, and online brokers are falling amid a loss of confidence after Robinhood's commission-free stock-trading app was offline for nearly all of Monday, leaving users outraged after being essentially shut out of one of the largest one-day rallies in Wall Street's history. LAWSUIT THREATS: Robinhood users were protesting loudly on Twitter on Tuesday, as the account Robinhood Class Action had over 4,800 followers, many of whom were sending in pictures showing their ostensible losses, according to reports on Tuesday. The Robinhood staff tweeted, "Our systems are currently experiencing downtime. We're determined to restore full functionality as soon as possible. We'll be sharing updates here and on URL PRICE ACTION: Shares of TD Ameritrade (AMTD), E TRADE Financial (ETFC), Charles Schwab (SCHW), Interactive Brokers (IBKR), Square (SQ), Fiserv (FISV), and LendingClub (LC) are all lower in afternoon trading.

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Hot Stocks
LendingClub names Annie Armstrong as Chief Risk Officer » 16:58
02/26/20
02/26
16:58
02/26/20
16:58
LC

LendingClub

$10.42 /

-0.73 (-6.55%)

, UBER

Uber

$34.45 /

-1.41 (-3.93%)

LendingClub (LC)…

LendingClub (LC) announced that is has selected Annie Armstrong to serve as the company's Chief Risk Officer. At the same time, the company announced that the current CRO, Tim Bogan will take on a new role as Chief Banking Integration Officer to focus on the planning, process, systems, and organizational design work necessary to complete LendingClub's acquisition of Radius Bank as announced on February 18. Armstrong will join on March 16 and will transition in partnership with Bogan until formally assuming the role on July 1. Prior to joining LendingClub, she served as Global Head of Financial Risk for Uber (UBER) where she built the risk management function for the then largest pre-IPO company in the Bay Area.

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On The Fly
Fly Intel: Wall Street's top stories at midday » 12:19
02/19/20
02/19
12:19
02/19/20
12:19
TSLA

Tesla

$928.22 /

+69.61 (+8.11%)

, GRPN

Groupon

$1.82 /

-1.205 (-39.90%)

, ALLY

Ally Financial

$28.38 /

-3.65 (-11.40%)

, ENPH

Enphase Energy

$54.70 /

+14.55 (+36.24%)

, GRMN

Garmin

$104.44 /

+7.12 (+7.32%)

, APRN

Blue Apron

$3.44 /

-0.93 (-21.28%)

, SGMS

Scientific Games

$23.63 /

-5.73 (-19.52%)

, LC

LendingClub

$12.79 /

-0.445 (-3.36%)

Stocks are higher after…

Open Full Text

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Recommendations
Janney says LendingClub bank ownership benefits a second half of 2021 event » 08:52
02/19/20
02/19
08:52
02/19/20
08:52
LC

LendingClub

$13.23 /

+0.05 (+0.38%)

After LendingClub…

After LendingClub announced an agreement to acquire Radius Bancorp, Janney Montgomery Scott analyst John Rowan said there are many benefits to the company of owning a bank, but he believes these benefits are a second half of 2021 event "at best". In the meantime, the standalone entity has decelerating net revenue growth and just issued disappointing guidance for 2020, said Rowan, who maintains his Neutral rating and $18 fair value estimate on LendingClub shares.

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Hot Stocks
Fly Intel: After Hours Movers » 19:05
02/18/20
02/18
19:05
02/18/20
19:05
QUAD

Quad/Graphics

$5.13 /

+0.15 (+3.01%)

, SSTI

ShotSpotter

$28.50 /

-1.2 (-4.04%)

, ENPH

Enphase Energy

$40.37 /

-0.68 (-1.66%)

, HLF

Herbalife Nutrition

$38.95 /

-0.71 (-1.79%)

, SCPL

SciPlay

$10.45 /

+0.1 (+0.97%)

, LZB

La-Z-Boy

$32.41 /

+0.34 (+1.06%)

, RPAI

Retail Properties of America

$12.62 /

-0.08 (-0.63%)

, XPER

Xperi

$15.03 /

-0.2 (-1.31%)

, FANG

Diamondback Energy

$74.55 /

-0.39 (-0.52%)

, DVN

Devon Energy

$22.15 /

-0.66 (-2.89%)

, TPH

TRI Pointe

$17.29 /

-0.21 (-1.20%)

, TIVO

TiVo

$6.77 /

-0.09 (-1.31%)

, BBBY

Bed Bath & Beyond

$11.78 /

+0.605 (+5.41%)

, GRPN

Groupon

$3.02 /

+0.175 (+6.15%)

, KNL

Knoll

$25.88 /

+0.15 (+0.58%)

, SGMS

Scientific Games

$29.36 /

+0.56 (+1.94%)

, APRN

Blue Apron

$4.37 /

+0.47 (+12.05%)

, AMED

Amedisys

$201.28 /

+3.18 (+1.61%)

, BKD

Brookdale Senior Living

$6.96 /

+0.025 (+0.36%)

, TXG

10x Genomics

$89.84 /

-2.605 (-2.82%)

, LC

LendingClub

$13.23 /

+0.05 (+0.38%)

, PLMR

Palomar

$56.57 /

-1.23 (-2.13%)

, BLUE

Bluebird Bio

$88.16 /

-0.98 (-1.10%)

, HSTM

HealthStream

$25.71 /

+0.02 (+0.08%)

, KAR

KAR Auction

$22.16 /

-0.31 (-1.38%)

UP AFTER EARNINGS:…

UP AFTER EARNINGS: Quad/Graphics (QUAD) up 25.0%... ShotSpotter (SSTI) up 20.1%... Enphase Energy (ENPH) up 11.8%... Herbalife (HLF) up 5.8%... SciPlay (SCPL) up 4.7%... La-Z-Boy (LZB) up 4.6%... Retail Properties of America (RPAI) up 3.0%... Xperi (XPER) up 2.5%... Diamondback Energy (FANG) up 1.9%... Devon Energy (DVN) up 1.9%... TriPointe Group (TPH) up 1.9%... TiVo (TIVO) up 1.5%. ALSO HIGHER: Bed Bath Beyond (BBBY) up 4.0% after guiding FY20 capital allocation. DOWN AFTER EARNINGS: Groupon (GRPN) down 24.9%... Knoll (KNL) down 13.6%... Scientific Games (SGMS) down 10.5%... Blue Apron (APRN) down 9.8%... Amedisys (AMED) down 9.0%... Brookdale Senior Living (BKD) down 6.4%... 10X Genomics (TXG) down 5.1%... LendingClub (LC) down 2.8%... Palomar (PLMR) down 2.8%... bluebird bio (BLUE) down 2.0%... HealthStream (HSTM) down 1.4%... KAR Auction Services (KAR) down 1.4%. Movers as of 18:30ET.

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