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Stock Market & Financial Investment News

News Breaks
February 7, 2014
09:51 EDTAAN, CONN, RCIIAaron'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
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April 1, 2015
10:33 EDTCONNOptions with decreasing implied volatility
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March 31, 2015
09:28 EDTCONNOn The Fly: Pre-market Movers
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06:07 EDTCONNConn's sees Q1 percent of bad debt charge-offs to average 12.5%-13.5%
Sees Q1 interest income fee yield to be between 17%-17.5%.
06:06 EDTCONNConn's sees FY16 SSS to be flat to up low single digits
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06:06 EDTCONNConn's to discontinue offering video game products, digital cameras in FY16
The company will also discontinue offering certain tablets in 2015. The company said it experienced significantly higher charge-off rates and lower product margins associated with purchases of these products by customers.
06:05 EDTCONNConn's reports Q4 EPS 42c, consensus 63c
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March 30, 2015
15:24 EDTCONNNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include SAIC (SAIC), consensus 71c... Conn's (CONN), consensus 63c... Movado (MOV), consensus 20c... Dangdang (DANG), consensus 6c.
08:20 EDTCONNConn's April volatility elevated into Q4 and outlook
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March 27, 2015
10:03 EDTCONNOn The Fly: Analyst Upgrade Summary
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09:26 EDTCONNOn The Fly: Pre-market Movers
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06:54 EDTCONNConn's upgraded to Overweight from Neutral at Piper Jaffray
Piper Jaffray upgraded Conn's to Overweight with a $38 price target saying portfolio stability will drive earnings upside.
March 24, 2015
11:14 EDTCONNConn's April volatility elevated into Q4 and outlook
Conn's April call option implied volatility is at 87, May is at 67, July is at 64, October is at 59; compared to its 26-week average of 62 according to Track Data, suggesting large near term price movement into the expected release of Q4 results on March 31.

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