|Over a week ago|
Synchrony establishes committee to improve diversity at firm, Bloomberg says » 18:4106/2506/25/20
Synchrony Financial has…
Synchrony Financial has established a committee of senior leaders from throughout the company to set goals for improving minority representation across its staff and create partnerships with diverse suppliers and customers, Bloomberg's Jennifer Surane says. The committee, led by President Brian Doubles, was established after the firm hosted multiple companywide meetings in recent weeks that focused on discussions about race and inequality, Surane says. Doubles said much of his time in June has been spent on such matters and that the group intends to meet multiple times a week, Surane notes. The task force "really ensures the topic remains front and center for us," Doubles said in an interview. "It also ensures a level of intensity and focus. We're going to organize around this differently." Reference Link
Verizon introduces Verizon Visa Card issued by Synchrony » 12:2306/2206/22/20
VZ, SYF, V
On June 26, Verizon (VZ)…
On June 26, Verizon (VZ) said it will launch the Verizon Visa Card. Verizon's new credit card, issued by Synchrony (SYF), gives consumer wireless customers the ability to save on their monthly Verizon bill through rewards earned on everyday purchases and freedom to use those rewards toward Verizon purchases, including bill payment and the latest 5G phones and accessories. "Visa is proud to partner with Verizon on the introduction of the new Verizon Visa Card," said Kirk Stuart, senior vice president, head of North America Merchant, Visa (V). "As consumers increasingly seek more ways to stay connected digitally, the Verizon Visa Card provides real savings on Verizon's products and services, along with benefits for every day and essential purchases. We look forward to collaborating with Verizon on this exciting new program to deliver value for cardholders and enhance their daily payment experiences."
Synchrony put volume heavy and directionally bearish » 10:5506/1806/18/20
Bearish flow noted in…
Bearish flow noted in Synchrony with 1,260 puts trading, or 1.5x expected. Most active are Jul-20 23 puts and Jul-20 21 puts, with total volume in those strikes near 770 contracts. The Put/Call Ratio is 1.88, while ATM IV is up over 1 point on the day. Earnings are expected on July 17th.
Synchrony price target raised to $27.50 from $21 at JMP Securities » 06:0906/1706/17/20
JMP Securities analyst…
JMP Securities analyst David Scharf raised the firm's price target on Synchrony (SYF) to $27.50 from $21 and keeps an Outperform rating on the shares. The analyst is positive on the company's exposure to big box, essential goods, and online pure plays, resulting in a much smaller contraction in sales and A/R than in the case of Alliance Data Systems (ADS). Scharf adds that Synchrony's borrowers have emerged from forbearance programs at a faster rate.
Synchrony reports May net charge-off rate 4.17% vs. 4.61% last month » 06:4106/1506/15/20
Reports May 30-plus day…
Reports May 30-plus day delinquencies 2.20% vs. 2.47% last month.
Synchrony price target raised to $33 from $25 at Stephens » 07:1406/0806/08/20
Stephens analyst Vincent…
Stephens analyst Vincent Caintic raised the firm's price target on Synchrony to $33 from $25 and keeps an Overweight rating on the shares after his retailer-by-retailer analysis. The sales growth of Synchrony's retail partners should mirror Synchrony's own revenue growth, contends Caintic, who said he is "comfortable" with his 6% year-over-year NII growth projection for Synchrony in 2021 being above the 2% consensus forecast.
|Over a month ago|
Early notable gainers among liquid option names on June 2nd » 09:5506/0206/02/20
HP, HES, SYF, SLG, WU
Notable gainers among…
Notable gainers among liquid option names this morning include Western Union (WU) $23.17 +2.46, SL Green Realty (SLG) $46.27 +2.20, Synchrony (SYF) $22.14 +1.04, Hess Corp. (HES) $50.78 +2.08, and Helmerich & Payne (HP) $21.13 +0.86.
Synchrony extends and expands multi-year partnership with Continental Tire » 13:5205/1905/19/20
Synchrony (SYF) and…
Synchrony (SYF) and Continental Tire announced an expansion of their strategic partnership to include financing options at General Tire. This expanded agreement "brings benefits to both consumers and dealers including automatic access to special financing and easy application through Synchrony Car Care," the companies stated.
Synchrony reports April net charge-off rate 4.61% vs. 5.08% last month » 06:3705/1505/15/20
Reports April 30-plus day…
Reports April 30-plus day delinquencies 2.47% vs. 2.65% last month.
Synchrony call volume above normal and directionally bullish » 12:2504/2904/29/20
Bullish option flow…
Bullish option flow detected in Synchrony with 5,313 calls trading, 4x expected, and implied vol increasing almost 36 points to 100.53%. May-20 22.5 calls and May-20 21.5 calls are the most active options, with total volume in those strikes near 2,700 contracts. The Put/Call Ratio is 0.21. Earnings are expected on July 17th.