UPDATE: LendingClub (LC) Slips to Session Low, Shares Down 6%
- Wall Street stocks fall as weak GDP growth spreads rate-cut gloom
- Q1 US GDP shows surprise slowing and uncomfortable inflation
- Alphabet (GOOGL) soars 16% on Q1 results beat, first-ever dividend
- Meta shares dip on softer Q2 revenue guidance, elevated AI spending plans
- Oil settles higher as weak U.S. economic growth offset by supply concerns
- Rubrik (RBRK) Prices Upsized 23.5M Share IPO at $32/sh
- Union Pacific beats profit estimates on stronger pricing, resumes share buyback
- IBM tumbles on soft Q1 revenue; announces HashiCorp $6.4bn acquisition
- Hertz Global (HTZ) misses earnings expectations as fleet costs weigh
- Teladoc (TDOC) Misses Q1 EPS by 3c, offers outlook
- After-hours movers: Alphabet, Microsoft, Snap, Intel, and more
- Midday movers: Meta, IBM, Caterpillar fall; Chipotle rises
- After-hours movers: Meta, Ford, IBM, ServiceNow and more
- Midday movers: Tesla, Boeing rise; Uber, Old Dominion Freight fall
- After-hours movers: Tesla, Texas Instruments, Seagate, Visa and more
FBR Capital Comments on Lending Club (LC) After Company Takes Steps to Address Credit and Demand
October 17, 2016 10:18 AM EDTFBR Capital maintained a Market Perform rating on Lending Club (NYSE: LC) after the company announced steps to boost investor returns and bolster investor demand for its loan products. The update was disclosed in an SEC filing after the market close on Friday.
Analyst Bob Ramsey commented on the development, stating, "The continued deterioration in credit is a concern, and the need to further raise rates may be a negative indicator for loan volume. Year to date, LC has... More