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SYF-News
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Synchrony Appoints Nimrod Barak as Chief AI Officer
Synchrony appointed Nimrod Barak as Chief AI Officer effective June 30. Barak most recently served as Managing Director, Head of AI Center of Excellence and Emerging Technologies at Citi.
Stock Futures Rise as Tech Shares Lead Gains
Stock futures are pointing higher as investors attempt to build on Monday's rebound, with technology shares leading premarket gains ahead of a stretch of earnings from some of the market's largest companies.The focus this week is on corporate earnings, with Alphabet, Tesla, IBM and Intel all set to report in the coming days. Investors are looking for signs that spending on artificial intelligence continues to translate into revenue growth and profitability after recent volatility in chip stocks raised questions about lofty valuations across the sector.Hopes for a potential ceasefire proposal between the United States and Iran have eased some pressure on oil prices, improving risk appetite, but Brent crude remains near $90 a barrel as uncertainty persists and renewed threats to shipping routes in the Middle East keep energy markets on edge.In pre-market trading, S&P 500 futures rose 0.40%, Nasdaq futures rose 1.36% and Dow futures rose 0.24%.Check out this morning's top movers from around Wall Street, compiled by The Fly.HIGHER -Nebiusup 6% after Nvidiadisclosed a 9.3% stake in the companyTSMCup 3% after Nikkei AsiaTSMC plans to raise chipmaking prices by up to 10% from 2027 to offset rising costsUP AFTER EARNINGS -3M (MMM) up 5%Novartisup 2%General Motorsup 1%D.R. Hortonup 1%Synchronyup 1%DOWN AFTER EARNINGS -Equifaxdown 13%Calixdown 11%Danaherdown 10%Northrop Grummandown 4%Charles Schwabdown 3%Steel Dynamicsdown 1%LOWER -Agios Pharmaceuticalsdown 14% after announcing it has decided not to advance tebapivat in sickle cell disease following trial results
Sees Mid-Single Digit Loan Receivables Growth
Sees mid-single digit ending loan receivables growth, with a net charge-off rate of less than 5.5%. Says customer engagement continued to be strong. Says strong purchase volume growth expected to continue throughout 2026. Says payment rate expected to remain elevated. Says receivables growth expected to accelerate through second half of 2026. Says experienced continued strength in delinquency and net charge-off performance. Says other expense dollars in second half of 2026 expected to remain relatively consistent to first half. Comments and guidance taken from Q2 earnings presentation slides.
Synchrony Reports Q2 Tangible Book Value per Share of $42.01
Reports Q2 tangible book value per share $42.01. Reports Q2 CET1 capital ratio 13.2%. "Synchrony's second quarter performance reflected clear momentum across our core business drivers," said Brian Doubles, Synchrony's president and CEO. "Customer engagement remained strong as new accounts continued to grow, average active accounts inflected back to growth, and higher spend per account across each of our five sales platforms drove all-time high purchase volume for our business."
Synchrony Appoints New CEO for Digital Platform
Synchrony announced executive leadership changes in its Digital platform and Technology and Operations organizations. Carol Juel has been named Executive Vice President and Chief Executive Officer of Synchrony's Digital platform, reporting to Brian Doubles, President and Chief Executive Officer of Synchrony. Juel succeeds Bart Schaller, who has announced his plans to retire from the company after a 35-year career. Juel will be responsible for advancing innovation, customer experience and consumer financing capabilities for digital-first partners including Amazon, PayPal, Venmo and Verizon. She most recently served as Synchrony's Executive Vice President, Chief Technology and Operating Officer, where she led the company's Technology and Operations organizations and drove modernization of its platforms and customer experiences. Synchrony also announced that Florin Arghirescu has been promoted to Executive Vice President and Chief Technology Officer, reporting to Doubles. He will lead Synchrony's Technology team and be responsible for enterprise technology strategy and execution, including the company's AI agenda, engineering and platform capabilities. He brings more than 25 years of experience across technology and product development leadership roles. DJ Casto will expand his responsibilities and become Executive Vice President, Chief People and Operations Officer, continuing to report to Doubles. Casto will continue to lead Human Resources and will assume responsibility for Operations, including servicing, collections and customer care, with a focus on operational excellence and building on our strong customer experience capabilities.
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