UBS Cuts Price Target on Synchrony Financial (SYF) Following 3Q Earnings Report

GE Capital Announces Expiration and Final Results of Private Exchange Offers

October 20, 2015 9:39 AM EDT

$37.5 billion of Old Notes tendered in the Market Value Exchange Offers $36.0 billion of Total New Notes to be issued

FAIRFIELD, Conn.--(BUSINESS WIRE)-- General Electric Capital Corporation (GECC) today announced the expiration and final results of the previously announced private offers commenced by GE Capital International Funding Company (the Issuer) to exchange (the Exchange Offers) the Issuers new senior unsecured notes (collectively, the New Notes) for certain outstanding debt securities (collectively, the Old Notes).

The Exchange Offers expired at 11:59 p.m., New York City time on October 19, 2015 (the... More

Synchrony Financial to File Registration Statement in Connection With GE Exchange Offer

October 19, 2015 6:31 AM EDT

Exchange offer is next major step for Synchrony Financial to be a fully independent company

STAMFORD, Conn.--(BUSINESS WIRE)-- Synchrony Financial (NYSE: SYF) today announced that it intends to file a Registration Statement on Form S-4 with the Securities and Exchange Commission in connection with the proposed exchange offer announced by General Electric Company (NYSE:... More

GE Commences Exchange Offer to Complete Separation of Synchrony Financial

October 19, 2015 6:30 AM EDT

FAIRFIELD, Conn.--(BUSINESS WIRE)-- GE (NYSE: GE) today commenced an offer to exchange GE common stock for common stock of Synchrony Financial (NYSE: SYF) presently owned by GE. This exchange offer is in connection with the previously announced separation of Synchrony, the largest provider of private label credit cards in the United States*, from GE. The exchange offer is expected to conclude the week of November 16, 2015.

Last week, Synchrony Financial received approval from the Federal Reserve to become a stand-alone savings and loan holding company... More

Synchrony Financial Reports Third Quarter Net Earnings of $574 Million or $0.69 Per Diluted Share

October 16, 2015 9:00 AM EDT

STAMFORD, Conn.--(BUSINESS WIRE)-- Synchrony Financial (NYSE: SYF) today announced third quarter 2015 net earnings of $574 million, or $0.69 per diluted share. Highlights for the quarter included:

Total platform revenue increased 9% from the third quarter of 2014 to $2.7 billion Loan receivables grew $7 billion, or 12%, from the third quarter of 2014 to $64 billion Purchase volume increased 12% from the third quarter of 2014 Renewed PayPal, a top 10 partnership, and Sleepys Signed new partners - Citgo and The Container Store... More