==Ally Financial (ALLY) reported earnings on Wed 22 Jan 25 (b/o)

 

Ally Financial beats by $0.21, beats on revs; to sell its credit card business to CardWorks

• Reports Q4 (Dec) earnings of $0.78 per share, excluding non-recurring items, $0.21 better than the FactSet Consensus of $0.57; adjusted revenues rose 3.6% year/year to $2.09 bln vs the $2.02 bln FactSet Consensus.
• Also, co and CardWorks announce that they have entered into a definitive agreement for CardWorks, and its wholly-owned bank subsidiary, Merrick Bank, to acquire Ally's credit card business, including a portfolio of $2.3 bln in credit card receivables with 1.3 mln active cardholders as of Dec. 31, 2024.
• "Ally's decision to sell its credit card business is part of our broader strategy to pursue a more focused approach, enabling us to simplify and streamline our structure, prioritize our core businesses, and drive improved returns," said Ally CEO Michael Rhodes. The transaction is expected to close in 2025, subject to the completion of customary closing conditions.
• Co says the sale enables Ally to be more focused on its core businesses; acquisition enhances CardWorks' position as a leading credit card issuer and servicer.

===Amphenol (APH) reported earnings on Wed 22 Jan 25 (b/o)

 

Amphenol beats by $0.05, beats on revs; guides Q1 EPS above consensus, revs above consensus

• Reports Q4 (Dec) earnings of $0.55 per share, excluding non-recurring items, $0.05 better than the FactSet Consensus of $0.50; revenues rose 29.8% year/year to $4.32 bln vs the $4.06 bln FactSet Consensus.
• Co issues upside guidance for Q1, sees EPS of $0.49-0.51, excluding non-recurring items, vs. $0.48 FactSet Consensus; sees Q1 revs of $4.00-4.10 bln vs. $3.93 bln FactSet Consensus.

==Sana Biotechnology (SANA) : Clinical Results from Type 1 Diabetes Study

 

Sana Biotechnology Announces Positive Clinical Results from Type 1 Diabetes Study of Islet Cell Transplantation Without Immunosuppression

• First-in-Human Study Provides Evidence that Sana’s Hypoimmune (HIP) Technology Enables Transplanted Islet Cells to Avoid Immune Rejection and Produce Insulin Without Immunosuppression

• Results Demonstrate HIP-Engineered Primary Pancreatic Islet Cells Avoid Immune Detection, Function, and Persist after Intramuscular Transplantation in First Treated Patient with Type 1 Diabetes

• Function and Persistence of Pancreatic Islets Were Detectable by Production of Consistent Levels of Circulating C-Peptide, a Marker of Insulin Production, and Increased C-Peptide Levels with a Mixed Meal Tolerance Test (MMTT)

• MRI Shows Signals Consistent with Graft Survival 28 Days after Transplantation

About the Uppsala University Hospital Investigator-Sponsored Study of UP421 in Type 1 Diabetes

The investigator-sponsored study of UP421 is supported by a grant from The Leona M. and Harry B. Helmsley Charitable Trust. The study tests the hypothesis whether HIP-engineered insulin-producing pancreatic cells can be transplanted safely and help to regain insulin production in individuals with type 1 diabetes without need of simultaneous treatment with immunosuppressive medicines. To do this, UP421 is engineered using Sana’s HIP platform at Oslo University Hospital. The study involves intramuscular surgical transplantation of primary, or donor-derived, HIP-engineered islet cells into the forearm of patients with type 1 diabetes.

===Shutterstock (STTK) and Getty Images (GETY) to combine in merger of equals

 

Shutterstock and Getty Images (GETY) to combine in merger of equals

• Getty Images Holdings, Inc. (GETY) and Shutterstock (SSTK) announced that they entered into a definitive merger agreement to combine in a merger of equals transaction, creating a premier visual content company. The combined company, which would have an enterprise value of approximately $3.7 billioni, will be named Getty Images Holdings, Inc and will continue to trade on the New York Stock Exchange under the ticker symbol "GETY".
• On a pro forma 2024 basis the combined company would have an attractive financial profile:
  • Revenue of between $1,979 million and $1,993 million, including 46% of subscription revenue
  • Pre-synergy EBITDA of between $569 million and $574 million
  • Pre-synergy Adjusted EBITDA less capital expenditures of between $461 million and $466 million
  • Pre-synergy net leverage of 3.0x pro forma 2024 pre-synergy EBITDA
• Transaction Details - Under the terms of the agreement, which was unanimously approved by the Boards of Directors of both companies, Shutterstock stockholders at close can elect to receive one of the following:
  • $28.84870 per share in cash for each share of Shutterstock common stock they own;
  • 13.67237 shares of Getty Images common stock for each share of Shutterstock common stock they own; or
  • a mixed consideration of 9.17 shares of Getty Images common stock plus $9.50 in cash for each share of Shutterstock common stock they own.
• Expected annual cost synergies between $150 million and $200 million by year three
• Expected to be accretive to earnings and cash flow beginning in year two