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Stock Market & Financial Investment News

News Breaks
February 7, 2013
07:09 EDTCONNConn's reports January SSS up 10%, Q4 SSS up 7%
Reports Q4 net sales $208.4M, consensus $251.49M
News For CONN From The Last 14 Days
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July 16, 2014
06:37 EDTCONNConn's recent sell-off a buying opprotunity, says Piper Jaffray
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July 15, 2014
11:34 EDTCONNAaron's falls after cutting second quarter outlook
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08:16 EDTCONNConn's management to meet with Oppenheimer
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July 11, 2014
11:19 EDTCONNRent-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%.

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