Synchrony Financial (SYF) News & EventsSYFSynchrony Financial

Apple Downgraded to Hold with Price Target Cut to $330

Stock futures are lower as renewed weakness in AI-related stocks looks set to erase some of Monday's rebound. Investors remain concerned about the debt and financing costs underpinning the AI infrastructure buildout. Meanwhile, oil prices are climbing, with Brent crude near $111 a barrel and West Texas Intermediate around $100.55, as escalating Middle East tensions and reports of attacks on vessels in the Gulf raise concerns about supply disruptions. Higher energy prices are adding to inflation worries following hotter-than-expected September CPI and PPI readings, while the 10-year Treasury yield is holding near 5.14%. The combination of elevated oil prices and borrowing costs continues to challenge equity valuations, particularly for growth stocks that rely on future earnings to justify current prices.In pre-market trading, S&P 500 futures fell 0.13%, Nasdaq futures fell 0.41% and Dow futures were about flat.Check out this morning's top movers from around Wall Street, compiled by The Fly.HIGHER -Alvotechup 8% after announcing that the FDA has approved a new manufacturing process for Simlandi, the company's biosimilar to HumiraUP AFTER EARNINGS -Equifaxup 6%Halliburtonup 4%RTXup 2%MSCIup 2%3Mup 1%Northrop Grummanup 1%KeyCorpup 1%DOWN AFTER EARNINGS -Genuine Partsdown 9%General Motorsdown 6%Mueller Industriesdown 4%GE Aerospacedown 3%Synchronydown 2%Hasbrodown 1%LOWER -Appledown 1% after Loop Capital downgraded the stock to Hold with a price target of $330, down from $370

FY26 Loan Receivables Growth Expected in Mid-Single Digits

Consensus $9.45. Sees FY26 ending loan receivables growth up mid-single digits. Sees FY26 net charge-off rate less than 5.5%. Says strong purchase volume growth is expected to continue. Says payment rate is expected to remain elevated. Says continued strength in delinquency and net charge-off performance. Says continues to expect relative stability and should follow normal seasonality patterns. Comments and guidance taken from Q3 presentation slides.

Synchrony Reports Q3 Tangible Book Value of $42.79

Reports Q3 tangible book value per share $42.79. Reports Q3 CET1 capital ratio 12.9%. "Synchrony delivered another strong performance in the third quarter, highlighted by broad-based purchase volume growth across all five of our sales platforms," said Brian Doubles, Synchrony's President and Chief Executive Officer. "Spend reached a record third quarter level and increased across credit cohorts and generations, with the highest growth once again coming from our Generation Z and Millennial customers. In addition, both discretionary and non-discretionary out-of-partner spend increased by double-digits, led by momentum in electronics, entertainment, gas stations and discount stores."