GE to Sell $30 Billion Commercial Lending and Leasing Businesses to Wells Fargo
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Compass Point Remains Neutral on Wells Fargo (WFC) Following 3Q15 Earnings
October 14, 2015 10:32 AM EDTCompass Point reiterated a Neutral rating and $55.00 price target on Wells Fargo (NYSE: WFC) following the company's 3Q15 earnings results. WFC reported GAAP earnings of $1.05, in-line with consensus' estimates.
Analyst Jesus Bueno commented, "WFC reported GAAP earnings of $1.05, which was a penny below... More
Synchrony Financial (SYF) Extends Dual Card Program with PayPal
October 13, 2015 9:20 AM EDTSynchrony Financial (NYSE: SYF) announced a long-term extension of its relationship with PayPal to provide a co-branded Dual Card credit program for consumers in the United States and Puerto Rico.
Since 2004, Synchrony Financial has partnered with PayPal to offer credit card programs that enable digital and mobile payments on behalf of qualifying cardholders* with online and offline merchants. Consumers can... More
Wells Fargo (WFC) to Acquire GE's (GE) Commercial Lending, Leasing Business
October 13, 2015 9:06 AM EDTGeneral Electric (NYSE: GE) has reached an agreement to sell GE Capitals global Commercial Distribution Finance, North American Vendor Finance and Corporate Finance platforms to Wells Fargo & Co (NYSE: WFC). The sale includes ending net investment (ENI) of approximately $30 billion (about $32 billion of assets) and approximately 3,000 employees. It is expected to be completed in the first quarter of 2016. Other terms of the transaction were not disclosed.
This is our largest transaction to date and a critical step in our efforts to reduce the size of GE Capital, said... More
