Ally Exceeds Earnings Expectations, Plans Unit Sale to Synchrony

Ally Financial Inc. reported fourth-quarter results that exceeded analysts’ expectations and announced the sale of a point-of-sale financing business to Synchrony Financial. The deal includes $2.2 billion of loan receivables and is expected to enhance Ally's financial position. The company's shares rose following the news, and it also disclosed plans to lower expenses and appointed an interim CEO as the search for a permanent replacement continues.