Latest news with #MichaelRhodes
Business Insider
3 days ago
- Business
- Business Insider
Wells Fargo remains underweight on Ally Financial following CEO presentation
Wells Fargo analyst Donald Fandetti maintained an Underweight rating and $32 price target on Ally Financial (ALLY) following a presentation with CEO Michael Rhodes. The firm noted that it was a 'positive' update on Q2 NIM, but with no new specifics on Q2 auto credit. Wells added that it sees 'better value and positive stock catalysts for other consumer finance stocks,' noting that 'Ally's share buybacks remain on hold and higher rates are thematically a relative headwind.' Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Fox News
13-05-2025
- Entertainment
- Fox News
Kim Kardashian Paris robbery trial brings star face to face with alleged gunmen in multimillion-dollar heist
Print Close By Christina Dugan Ramirez Published May 13, 2025 Nearly nine years have passed since Kim Kardashian was allegedly attacked and held at gunpoint in her Paris hotel room while intruders stole millions of dollars worth of jewelry. Now, the SKIMS founder is set to face the alleged gunmen during her testimony in a Paris courtroom on Tuesday. "We can confirm that Ms. Kardashian will be testifying in person at the upcoming French criminal trial involving the 2016 incident in which she was bound and robbed at gunpoint by a number of masked assailants," Kardashian's attorney, Michael Rhodes, said in a statement to Fox News Digital. "At this time, Ms. Kardashian is preserving her testimony for the Court and jury and does not wish to elaborate further on it at this stage." "She has tremendous appreciation and admiration for the French judicial system and has been treated with great respect by the French authorities. She wishes for the trial to proceed in an orderly fashion in accordance with French law and with respect for all parties to the case." KIM KARDASHIAN'S FAME COULD SWAY JURY IN PARIS ROBBERY TRIAL AGAINST 'GRANDPA ROBBERS': EXPERT Kardashian, 44, is set to testify in a monthlong trial against a group known as the "grandpa robbers" due to their age. More than 17 people were arrested as suspects in connection to the case after investigators found trace amounts of DNA on plastic bands tied around Kardashian's wrists. The case was finally ordered to go on trial in 2021 with 12 people charged. "It was the scariest thing I've ever been through in my entire life." — Kim Kardashian Ten people are being tried, with five facing armed robbery and kidnapping charges. The other suspects are charged with being accomplices to the heist or unauthorized possession of a weapon, according to Reuters. "It was the scariest thing I've ever been through in my entire life," Kardashian said during an episode of "Felony Files" in 2019. "Just thinking that, you know, you're about to die. … You're bracing yourself for the moment they're going to shoot you and kill you. That 10 minutes really changed my whole life. " On Oct. 3, 2016, the intruders allegedly disguised themselves as police officers with ski masks as they broke into her room at the No Address Hotel, tied up the reality star and placed her in the bathtub while they stole various jewelry pieces, including her $4 million engagement ring from then-husband Kanye West. Kardashian, who was in town for Fashion Week with her sisters, Kourtney Kardashian and Kendall Jenner, and mother Kris Jenner, had posted on social media that she was home alone while her family went out to explore Paris. CLICK HERE TO SIGN UP FOR THE ENTERTAINMENT NEWSLETTER "I was Snapchatting that I was home and that everyone was going out," Kim said on a 2017 episode of "Keeping Up with the Kardashians." While lying in bed, Kardashian heard footsteps approaching her door and, after calling out for her sisters, she realized something was wrong. "Then at that moment when there wasn't an answer, my heart started to get really tense," Kardashian said in a confessional during the episode. "Like your stomach just kind of knots up, and you're like, 'OK, what's going on? What's going on?' I knew something wasn't quite right.'" "They dragged me out onto the hallway on top of the stairs. That's when I saw the gun clear, like clear as day. I was kind of looking at the gun, looking down back at the stairs." LIKE WHAT YOU'RE READING? CLICK HERE FOR MORE ENTERTAINMENT NEWS "Am I going to run down the stairs and either be shot in the back? It makes me so upset to think about it," she said. "Either they're going to shoot me in the back, or if I make it, and they don't, if the elevator does not open in time, or the stairs are locked, then like I'm f----d. There's no way out." During an appearance on "My Next Guest Needs No Introduction" with David Letterman in 2020, Kardashian said she mentally "prepared" herself for the worst. "He grabbed me and pulled me towards him," Kardashian said of her attacker. "But I wasn't wearing anything underneath [my robe], so I was like, 'OK, this is the time, I'm going to get raped, like, just deal, it's going to happen, like, just prepare yourself.' So I did, and then – I don't know why I'm crying, I've talked about this before – but then he tied me up with handcuffs and zip ties, and then duct tape, and then duct-taped my mouth and my eyes." "You know, [the robbery has] changed the way we live our lives and just the way we take care of our kids and our grandchildren. So it's been a process." — Kris Jenner "I saw he found my whole jewelry box and held it up, like, 'Aha!' You know, like, 'We got it.' But I kept on looking at the concierge [who'd been forced to unlock her door at gunpoint] because I didn't know who he was, and I'm like, 'What is happening? Are we going to die? Just tell them I have children, I have babies, I have a husband, I have a family, like I have to get home! Tell them to take anything. I'll never say I saw them, like, take everything!'" The aftermath of the robbery was difficult, but talking about it proved to be "therapeutic" for Kardashian. "When we started filming again and getting up and running, you know, obviously, Kim was around because we all practically live together on the street," mom Kris Jenner told Ellen DeGeneres in 2017. "And we started filming and what was coming out of that was very therapeutic for her, I think, to just explain to us and walk us through." "She just thinks that it might bring some awareness," she continued. "You know, it's changed the way we live our lives and just the way we take care of our kids and our grandchildren. So it's been a process." Kardashian didn't return to Paris for nearly two years after the alleged attack. "I have so many special memories in Paris," she said during an episode of her show in 2018. "I hope that this trip will just be so good that I can start to remember all the magical things about Paris and why Kanye and I fell in love with it." In 2017, Kardashian told DeGeneres that she believes the robbery happened to "teach" her something. "I know this sounds crazy, but I know that was meant to happen to me," she told the daytime talk show host. "I am such a different person. … I really feel like things happen in your life to teach you things, and this was like – it was probably no secret, you see it on the show, us being flashy, I was definitely materialistic before. Not that there's anything bad with having things and working hard to get those things, and I'm really proud of everyone around me that's successful. But I'm so happy that my kids get this me and that this is how I'm raising my kids, because I just don't care about that stuff anymore." CLICK HERE TO GET THE FOX NEWS APP Fox News Digital's Tracy Wright contributed to this post. Print Close URL
Yahoo
09-05-2025
- Business
- Yahoo
Ally Financial to present at the Bernstein Strategic Decisions Conference
CHARLOTTE, N.C., May 9, 2025 /PRNewswire/ -- Ally Financial Inc. (NYSE: ALLY) Chief Executive Officer Michael Rhodes will present at the Bernstein Strategic Decisions Conference on Friday, May 30, 2025 at approximately 10:00 a.m. ET. A live webcast will be available on the day of the conference at under the Events and Presentations section of the Investor Relations website. A replay will also be available. About Ally FinancialAlly Financial Inc. (NYSE: ALLY) is a financial services company with the nation's largest all-digital bank and an industry-leading auto financing business, driven by a mission to "Do It Right" and be a relentless ally for customers and communities. The company serves customers with deposits and securities brokerage and investment advisory services as well as auto financing and insurance offerings. The company also includes a seasoned corporate finance business that offers capital for equity sponsors and middle-market companies. For more information, please visit For more information and disclosures about Ally, visit For further images and news on Ally, please visit Contacts:Sean LearyAlly Investor Peter GilchristAlly Communications (Media) View original content to download multimedia: SOURCE Ally Financial Sign in to access your portfolio
Yahoo
18-04-2025
- Business
- Yahoo
Ally Financial Inc (ALLY) Q1 2025 Earnings Call Highlights: Strong Auto Originations and ...
Adjusted Earnings Per Share: $0.58 Core Pretax Income: $247 million Adjusted Net Revenue: $2.1 billion Net Interest Margin: 3.35% Consumer Auto Originations: $10.2 billion Originated Yield: 9.8% Insurance Written Premiums: $385 million Corporate Finance Pretax Income: $76 million Deposits: $146 billion Net Financing Revenue (excluding OID): Approximately $1.5 billion Adjusted Other Revenue: $571 million Adjusted Provision Expense: $497 million Retail Auto Net Charge-Offs: 212 basis points Consolidated Net Charge-Off Rate: 150 basis points Common Equity Tier 1 (CET1) Ratio: 9.5% Warning! GuruFocus has detected 3 Warning Signs with IDGXF. Release Date: April 17, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Ally Financial Inc (NYSE:ALLY) reported adjusted earnings per share of $0.58, core pretax income of $247 million, and adjusted net revenue of $2.1 billion, reflecting solid execution across core businesses. The company achieved a Net Promoter Score well ahead of industry averages, with positive brand social sentiment nearly 90%, indicating strong customer trust and loyalty. Ally Financial Inc (NYSE:ALLY) successfully closed the sale of its credit card business, strengthening its balance sheet and reducing interest rate risk. The Auto Finance business saw consumer originations of $10.2 billion, driven by a record 3.8 million applications, highlighting strong dealer relationships and franchise scale. The Corporate Finance segment delivered a strong quarter with pretax income of $76 million and a 25% ROE, demonstrating resilience across economic cycles. GAAP noninterest expense was impacted by a write-down of goodwill associated with the transfer of card assets to held for sale, contributing to a GAAP loss per share of $0.82 for the quarter. The insurance segment faced elevated weather-related losses totaling $58 million, marking the highest first quarter of weather-related losses in the company's history. Retail auto net charge-offs, while improved, remain elevated, with ongoing macroeconomic uncertainty posing potential risks to credit performance. The sale of the credit card business is expected to have a 20 basis point negative impact on net interest margin on a run rate basis. The company faces uncertainty due to evolving trade policies and tariffs, which could impact used car prices and overall business performance. Q: Michael, how do you think the evolving uncertainty related to tariffs impacts your business? A: Michael Rhodes, CEO: The environment is fluid, but we are in a position of strength. Our balance sheet, capital strength, and credit risk position are robust. We've taken strategic steps like selling our credit card business and repositioning our securities portfolio to manage this uncertainty. In the near term, tariffs might benefit used car prices and demand. In the medium term, the focus will be on macroeconomic impacts like inflation and consumer health. Overall, we are executing well and are well-positioned to handle this environment. Q: Russ, regarding the NIM, how does the current rate backdrop align with your guidance, and what is the mix of originations you're seeing now? A: Russ Hutchinson, CFO: Our guidance of $3.4 billion to $3.5 billion for 2025 considers various rate scenarios, including potential rate cuts. Our business adjusts over time, and we avoid quarter-by-quarter guidance. Our application volume is at record levels, allowing us to be selective in credit and rate. Our originated yield is strong at 9.8%, with a high proportion of originations in our highest credit quality tier. Q: Jeff Adelson from Morgan Stanley asked about the NIM outlook for the second quarter and the rest of the year. A: Russ Hutchinson, CFO: We reiterated our full-year guidance of $340 million to $350 million. The sale of our credit card business will impact NIM by 20 basis points in Q2, but we expect to offset this through deposit pricing changes, CD maturities, and benefits from securities repositioning. Our fundamentals remain strong, and we anticipate continued NIM expansion. Q: On credit performance, how quickly can you achieve a loss rate below 2%? A: Russ Hutchinson, CFO: We provided a full-year range of 2% to 2.25% for 2025. While flow to loss rates are strong and delinquency trends show improvement, we remain cautious due to elevated delinquencies and macroeconomic uncertainty. We will keep the full range intact and update as necessary. Q: Robert Wildhack from Autonomous Research asked about unwinding curtailment and its impact on yield and NIM. A: Russ Hutchinson, CFO: We are cautious about unwinding curtailment due to the uncertain environment. Our 2024 vintages are outperforming expectations, providing some cushion. We will continue to monitor the market closely and adjust accordingly. Q: Moshe Orenbuch from TD Cowen inquired about the factors driving changes in origination yield. A: Russ Hutchinson, CFO: The increase in originated yield to 9.8% is primarily due to a shift in our origination mix, with a decrease in the highest credit quality tier from 49% to 44%. This drove the majority of the yield increase. Q: John Armstrom from RBC Capital Markets asked about strategic priorities following the sale of the card business. A: Michael Rhodes, CEO: Our focus is on achieving mid-teens returns by executing on our commitments. Strategically, we are deepening relationships in our core businesses, such as dealer financial services and our digital bank. We are not pursuing new diversification or M&A but are focused on areas where we have a competitive advantage. Q: What is the outlook for used car prices, and how does it affect your business? A: Russ Hutchinson, CFO: Our models anticipate used car prices to remain elevated, about 20% above pre-pandemic levels. Tariffs could positively impact used vehicle values, benefiting our credit side and lease gains. However, it's too early to predict exact outcomes. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
