Synchrony Financial ( SYF Quick Quote SYF - Free Report) recently renewed its strategic collaboration with the largest musical instrument retailer Guitar Center. Per the terms of the deal, SYF will keep providing a private label credit program so that customers can buy from any Guitar Center location or via its website. The relationship between the companies dates back to 2015 and over the years, their tie-up has strengthened on the basis of new reward programs, etc. In the said year, SYF inked the deal with Guitar Center, Musician’s Friend and Woodwind & Brasswind to enable customers to buy musical instruments, accessories and equipment through more than 260 stores in the United States, catalogs and online stores. With the extension of this deal, Guitar Center Gear Card customers can get 5% rewards and special financing choices at the time of purchasing from the Guitar Center sites and via its website. Customers who apply online are expected to gain leverage from SYF's Prequalification process, which means that they will know if they can get a preapproval for credit. The customers can also view their initial credit limit before submitting their applications. SYF leaves no stone unturned when it comes to offering feasible financing options to customers. In fact, Guitar Center and SYF have the same aim to provide musicians with as many options as possible so that they do not face any hindrance in the journey of making music. The seamlessness and affordability make the collaboration unique and much needed at this time. Synchrony Financial’s series of acquisitions and renewal of alliances helped it enhance its digital capabilities and diversify its business. SYF included 36 partners and renewed 38 relationships with partners in 2021. Moves similar to the latest one highlight the financial service provider’s commitment to assist consumers with financing choices. In January, Synchrony Financial entered into a collaboration with the leading pet insurance marketplace Pawlicy Advisor to enable pet parents to manage pet-related expenses in a better way. Per the terms of the deal, Pawlicy Advisor will provide CareCredit, SYF’s financing solution for veterinary care in the Pawlicy Advisor pet insurance marketplace. Shares of Synchrony Financial have lost 7.4% in a year against the industry’s growth of 1.2%. SYF has a Zacks Rank #3 (Hold) at present. Image Source: Zacks Investment Research Stocks to Consider
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Mvb Financial ( MVBF Quick Quote MVBF - Free Report) , ORIX Corporation ( IX Quick Quote IX - Free Report) and Virtu Financial, Inc. ( VIRT Quick Quote VIRT - Free Report) . While VIRT and MVBF sport a Zacks Rank #1 (Strong Buy), IX carries a Zacks Rank #2 (Buy) at present. MVB Financial is a financial holding company. MVBF provides community banking, mortgage banking, insurance and wealth management services to individuals and corporate clients through its subsidiaries. The stock has witnessed its 2022 estimate move 37.4% north. Earnings surpassed estimates in three of its trailing four- quarters (while missing the mark in one), the average beat being 73.73%. Orix Corp is a diversified financial services institution with varied corporate and retail finance operations. IX managed to deliver a trailing four-quarter surprise of 1.9%, on average. IX holds a VGM Score of B. Over the past 30 days, the stock has witnessed its 2022 earnings estimates move 5.9% north. Virtu Financial is a market-leading financial services firm that leverages cutting-edge technology to provide execution services, and data plus analytics and connectivity products to its clients as well as deliver liquidity to the global markets. Earnings of VIRT managed to beat estimates in three of its trailing four quarters (missing the mark in one), the average beat being 24.76%. Over the past seven days, the stock has witnessed its 2022 earnings estimates move 4.2% north. VIRT has a VGM Score of B. Shares of MVBF, IX and VIRT have gained 4.9%, 11.5% and 16.6% over the same time frame, respectively.