Top 5 Losers Today

3. Ally Financial Inc. (NYSE:ALLY)

Number of Hedge Fund Holders: 42

Shares of Ally Financial Inc. (NYSE:ALLY) hit a new 52-week low of $25.64 this morning after the bank holding company failed to meet financial expectations for its fiscal third quarter.

Ally Financial Inc. (NYSE:ALLY) reported adjusted earnings of $1.12 per share, missing the consensus of $1.77 per share with a big margin. Revenue for the quarter came in at $2.02 billion, while analysts were looking for $2.17 billion.

Discussing the results, CEO of Ally Financial Inc. (NYSE:ALLY), Jeffrey J. Brown, said in a statement:

“Financial results were partially depressed this quarter as a result of an impairment on a nonmarketable equity investment related to our mortgage business, impacting $0.33 of EPS, and higher provisions as a result of loan growth in auto finance and a larger coverage build to ensure the company remains protected as recessionary conditions feel more likely to occur in the coming months.”