New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
February 7, 2014
09:51 EDTAAN, RCII, CONNAaron's jumps following buyout offer despite weak outlook
Shares of Aaron's (AAN), which offers consumer electronics, computers, furniture, and household appliances to customers via leases and lease-to-own arrangements, are surging despite the company's weak quarterly results and gloomy outlook after a shareholder made a $30.50 per share takeover offer. WHAT'S NEW: This morning, Vintage Capital, which holds about a 9.5% stake in Aaron's, disclosed that it sent a letter to the company's board containing a non-binding proposal to acquire the company for $30.50 per share of common stock. In its letter, the investor wrote that on three separate occasions since 2011, Vintage privately submitted "bona fide offers" to acquire 100% of the outstanding common stock of Aaronís at "significant premiums" to the then-current market prices. "Each of our offers was summarily ignored by the Board of Directors at the expense of your unknowing stockholders," Vintage stated, adding that it is the firm's "strong belief that Aaronís is at a crossroads that will culminate with a sale of the company." WHAT'S NOTABLE: Aaron's reported fourth quarter adjusted earnings per share of 30c, which fell within the company's lowered guidance of 27c-31c that it had issued in January. Aaron's also reported that is same-store sales in the quarter fell 0.9% and that its customer count grew 'only slightly' in 2013. For the fourth quarter, revenues decreased 2% to $553.9 million and the company said it will take several quarters of increasing the customer base to significantly grow revenue and earnings. Aaron's CEO Ronald Allen stated that 2013 was "a year of challenges and change" for the company, adding that growing revenues and adding customers has been "difficult with the ongoing economic pressures on low to middle income consumers." Aaron's guided to an earnings range for the new year that also fell below the consensus estimate at its midpoint. PRICE ACTION: In early morning trading, Aaron's jumped more than 16% to trade at $31.50, which is $1.00 above the offer made by Vintage Capital. OTHERS TO WATCH: Other retailers competing with Aaron's include Rent-A-Center (RCII) and Connís (CONN), both of which are lower on the session.
News For AAN;RCII;CONN From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
September 30, 2014
12:59 EDTCONNLuxor Capital Group reports 20.9% stake in Conn's
Subscribe for More Information
September 29, 2014
10:00 EDTRCIIOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Akorn (AKRX) upgraded to Outperform from Sector Perform at RBC Capital... Alexandria Real Estate (ARE) upgraded to Buy from Hold at ISI Group... Baidu (BIDU) upgraded to Buy at UBS... Banner Corp. (BANR) upgraded to Buy from Neutral at DA Davidson... Boston Properties (BXP) upgraded to Buy from Hold at ISI Group... Brocade (BRCD) upgraded to Hold from Sell at Summit Research... Chico's FAS (CHS) upgraded to Outperform from Perform at Oppenheimer... Energy Transfer Partners (ETP) upgraded at Morgan Stanley... Equity One (EQY) upgraded to Buy from Hold at ISI Group... FedEx (FDX) upgraded to Outperform from Market Perform at Cowen... Himax (HIMX) upgraded at Craig-Hallum... Janus Capital (JNS) upgraded at Morgan Stanley... Kilroy Realty (KRC) upgraded to Buy from Hold at ISI Group... LRR Energy (LRE) upgraded to Buy from Hold at Stifel... Nationstar (NSM) upgraded at Sterne Agee... Nexstar (NXST) upgraded to Buy from Hold at Noble Financial... Nike (NKE) upgraded to Outperform from Neutral at Credit Suisse... Pearson (PSO) upgraded to Outperform from Underperform at Macquarie... Philips (PHG) upgraded to Buy from Hold at ING Group... Rent-A-Center (RCII) upgraded at KeyBanc... Rice Energy (RICE) upgraded to Buy from Accumulate at KLR Group... Sonic Automotive (SAH) upgraded to Overweight from Underweight at Morgan Stanley... Tahoe Resources (TAHO) upgraded to Outperform from Market Perform at Raymond James... Tanger Factory (SKT) upgraded to Buy from Hold at ISI Group... Universal Health (UHS) upgraded at BMO Capital... Voya Financial (VOYA) upgraded to Strong Buy from Outperform at Raymond James... Waste Management (WM) upgraded at Wedbush... Yahoo (YHOO) upgraded to Buy from Hold at Needham.
07:05 EDTRCIIRent-A-Center upgraded at KeyBanc
Subscribe for More Information
06:11 EDTRCIIRent-A-Center upgraded to Buy from Hold at KeyBanc
Subscribe for More Information
September 18, 2014
09:36 EDTCONNConn's to host analyst and investor day
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use