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Stock Market & Financial Investment News

News Breaks
February 26, 2013
05:55 EDTCLX, CLX, BEN, BEN, CACB, CACB, TYC, TYC, DLPH, DLPH, KFY, KFY, RCII, RCII, AVP, AVPCorporate Board Member to host a summit
2nd Annual West Coast Boardroom Summit is being held in Scottsdale, Arizona on February 26-27.
News For CLX;BEN;CACB;TYC;DLPH;KFY;RCII;AVP From The Last 14 Days
Check below for free stories on CLX;BEN;CACB;TYC;DLPH;KFY;RCII;AVP the last two weeks.
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July 17, 2014
07:46 EDTDLPHSenate Commerce & Transportation Committee to hold a hearing
The Subcommittee on Consumer Protection, Product Safety and Insurance holds a hearing entitled, "Examining Accountability and Corporate Culture in Wake of the GM Recalls" with General Motors CEO Barra and EVP Milllikin and President & CEO O'Neal of Delphi Automotive on July 17 at 10 am. Webcast Link
July 16, 2014
06:37 EDTRCIIConn's recent sell-off a buying opprotunity, says Piper Jaffray
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July 15, 2014
11:34 EDTRCIIAaron's falls after cutting second quarter outlook
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07:15 EDTCLXIIR Holdings to hold a conference
14th Annual Shopper Insights in Action Conference to be held in Chicago on July 14-16.
July 14, 2014
12:40 EDTDLPHDelphi confirms that it is not focus of investigation, Detroit News reports
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12:36 EDTDLPHDelphi not target of DOJ's switch investigation, Reuters reports
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July 11, 2014
16:22 EDTRCIIOn The Fly: Closing Wrap
Stocks on Wall Street were higher today, but were still lower for the week, as concerns in Europe have come back to the forefront of investors' minds. Today's modest bounce was not enough to make up for the declines seen in three of the other four sessions earlier in the week. ECONOMIC EVENTS: In the U.S., the June federal budget statement showed a surplus of $70.5B for the month, compared to analysts' forecast for a $79B surplus. COMPANY NEWS: Shares of Wells Fargo (WFC) slipped 32c, or 0.62%, to $51.49 after the largest mortgage lender in the U.S. posted earnings of $1.01 a share that matched analysts' consensus forecast. Wells did note that its credit performance continued to improve in Q2 and CEO John Stumpf said he is "optimistic about the future" for the bank... Lorillard (LO) advanced $2.92, or 4.63%, to $66.01, while Reynolds American fell 51c, or 0.82%, to $61.75, after the two cigarette makers confirmed that they are holding talks about a possible merger, as has been speculated by various media reports in recent weeks... In another update to an ongoing M&A story, Japan's Nikkei reported that Sprint's (S) corporate parent, Softbank (SFTBF), has reached an agreement to acquire T-Mobile (TMUS) from Deutsche Telecom (DTEGY), clearing the way for the long-speculated merger between the third and fourth largest wireless carriers in the U.S. Following the new story, Sprint shares finished the day up 30c, or 3.64%, to $8.55, while T-Mobile rose 62c, or 1.89%, to $33.50. MAJOR MOVERS: Among the notable gainers was Ruckus Wireless (RKUS), which advanced 87c, or 7.9%, to $11.88 after the FCC announced that it would allocate new funds to subsidize the launch of WiFi networks in schools and libraries. Also higher was Amazon.com (AMZN), which climbed $18.28, or 5.57%, to $346.20 after consulting firm ChannelAdvisor (ECOM) reported that the company's same-store sales growth had accelerated significantly in June compared with May. Among the noteworthy losers was Rent-A-Center (RCII), which dropped $3.18, or 10.94%, to $25.88 after the company warned that its revenue and earnings for Q2 will not meet expectations. Also lower were shares of industrial and construction supply retailer Fastenal (FAST), which fell $2.00, or 4.16%, to $46.15 after its Q2 revenue missed analysts' consensus view and the company reported plans to close 45 stores. INDEXES: The Dow was up 28.74, or 0.17%, to 16,943.81, the Nasdaq was up 19.29, or 0.44%, to 4,415.49, and the S&P 500 was up 2.83, or 0.14%, to 1,967.51.
15:18 EDTDLPHZF Friedrichshafen may lack funds to get TRW Automotive deal done, Reuters says
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12:36 EDTRCIIOn The Fly: Midday Wrap
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11:19 EDTRCIIRent-A-Center plummets after Q2 profit warning
Shares of rent-to-own operator Rent-A-Center (RCII) are sinking after the company’s second quarter profit outlook significantly trailed analysts’ consensus estimates. WHAT'S NEW: Last night, Rent-A-Center forecast Q2 adjusted earnings per share of 36c-38c and revenue of $773M, far short of the consensus views of 48c and $786.4M, respectively. The company’s CEO Robert Davis said, “Macro-economic pressures continue to burden our financially constrained customers contributing to softer than expected demand in our U.S. business segments. Consequently, revenue and earnings for Q2 will not meet expectations. We are not satisfied with our Q2 results and hold ourselves accountable for improving our performance. To that end, we are excited to announce a new product line in our domestic retail stores with our entrance into the burgeoning smartphone business.” WHAT’S NOTABLE: The company’s smartphone rollout offers consumers nationwide one-stop shopping for a variety of name-brand smartphones and no-contract plans, a rent-to-own industry first, the company said. PRICE ACTION: In late morning trading, Rent-A-Center fell $3.22, or about 11%, to $25.86 on more than twice its average daily trading volume. Including today’s pull back, the stock has lost approximately 36% over the past twelve months. OTHERS TO WATCH: Other companies that provide leasing and rent-to-own arrangements of consumer products include Aaron’s (AAN), which is down 3.3%, and CONN’S (CONN), which is down 3.5%.
09:18 EDTRCIIRent-A-Center tumbles on Q2 profit warning, levels to watch
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09:09 EDTRCIIOn The Fly: Pre-market Movers
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July 10, 2014
18:35 EDTRCIIOn The Fly: After Hours Movers
UP AFTER EARNINGS: Joe's Jeans (JOEZ), up 15.5% after reporting second quarter results above analyst estimates... Barracuda Networks (CUDA), up 2.2% after reporting quarterly results and guidance... DOWN AFTER EARNINGS: PriceSmart (PSMT), down 3.7% after reporting third quarter revenue below analyst estimates... Rent-A-Center (RCII), down 11% after reporting disappointing preliminary second quarter results. ALSO LOWER: Gap (GPS), down 2% after reporting June Same Store Sales down 2%... Arotech (ARTX), down 5.6% after filing an automatic common stock shelf... NOTABLE: MGIC Investment (MTG), down 4.8% and Radian Group (RDN), down 3.8% following the FHFA proposal to tighten capital rules for mortgage insurers.
17:08 EDTRCIIRent-A-Center down 8.5% to $26.60 following weaker than expected Q2 forecast
16:48 EDTRCIIRent-A-Center reports preliminary Q2 adjusted EPS 36c-38c, consensus 48c
Reports preliminary Q2 revenue $773M, consensus $786.4M. Reports preliminary Q2 SSS up approximately 0.6%. Robert D. Davis, the CEO of Rent-A-Center stated, “Macro-economic pressures continue to burden our financially constrained customers contributing to softer than expected demand in our U.S. business segments. Consequently, revenue and earnings for the Q2 will not meet expectations. We are not satisfied with our Q2 results and hold ourselves accountable for improving our performance. To that end, we are excited to announce a new product line in our domestic retail stores with our entrance into the burgeoning smartphone business.” The Company’s smartphone rollout offers consumers nationwide one-stop shopping for a variety of leading, name-brand smartphones and no-contract plans, a rent-to-own industry first. It also provides ground-breaking flexibility: Phones may be rented in connection with the immediate activation of a no-contract airtime plan, or without. A choice in the brand of airtime plans is offered, and customers may even opt to activate a plan for a phone not rented through Rent-A-Center. Additionally, airtime plans may be reloaded at Rent-A-Center stores, regardless of one’s cellular carrier.
July 9, 2014
16:35 EDTBENFranklin Resources reports preliminary AUM $920.5B as of June 30
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11:51 EDTAVPOptions with increasing implied volatility:
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09:21 EDTDLPHDelphi CEO to testify about GM ignition switches, Automotive News says
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06:17 EDTDLPHGM CEO, general counsel to testify before Senate subcommittee, WSJ reports
Mary Barry, the CEO of General Motors (GM), and the company's general counsel, Mike Millikin, have been called to testify next week before a Senate subcommittee looking at why it took the automaker almost 11 years to recall older cars equipped with a faulty ignition switch, the Wall Street Journal reports. Delphi Automotive (DLPH) CEO Rodney O'Neal and Kenneth Feinberg have also been called as witnesses. Reference Link
July 8, 2014
08:27 EDTKFYKorn/Ferry management to meet with SunTrust
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