Credit Suisse Upgrades Ally Financial (ALLY) to Outperform
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Ally Financial Reports Second Quarter 2015 Financial Results
July 28, 2015 7:30 AM EDTCHARLOTTE, N.C., July 28, 2015 /PRNewswire/ -- Ally Financial Inc. (NYSE: ALLY) today reported net income of $182 million, which included a $155 million pre-tax charge for the extinguishment of legacy, high-cost debt. This compares to net income of $576 million in the prior quarter and $323 million for the second quarter of 2014. A generally accepted accounting principles (GAAP) loss of $2.22 per common share in the second quarter of 2015 was primarily driven by the redemption of $1.3 billion of Series G preferred securities during the quarter.
The company reported core pre-tax income of $435 million, excluding... More
