Why Ally Stock Is Charging Higher Today

Ally Financial (ALLY 9.84%) beat Wall Street earnings estimates and announced a divestiture that will boost its capital reserves. Investors cheered the results, sending shares of Ally up nearly 10% as of noon Eastern on Friday.A solid report in a difficult period2023 was a challenging year for most financial services companies and a particularly treacherous one for auto lenders like Ally. Rising rates left banks scrambling to reprice loans and attract deposits, and the post-pandemic normalization in used ca ...