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Stock Market & Financial Investment News

News Breaks
April 1, 2013
11:03 EDTWRLD, EZPW, DLLR, CSH, FCFSPayday lenders slump after DFC Global lowers forecast
Shares of DFC Global (DLLR) and those of some of its peers in the alternative financial services industry declined after DFC issued worse than expected earnings per share guidance for its third quarter and lowered its view of profit for the full year. WHAT'S NEW: DFC Global announced this morning that it expects earnings per share for the three months ended March 31 to be 20c-24c, compared to the consensus forecast of 63c. The company also lowered its fiscal 2013 earnings per share guidance to $1.70-$1.80 from its prior estimate of $2.35-$2.45. The company cited issues caused by new regulations in the United Kingdom. In early March, a British regulator, the Office of Fair Trading, or OFT, said it would give "payday lenders" 12 weeks to change their business practices. One of the OFT's complaints about the lenders was that they were granting consumers loans that they could not afford to repay, and then profiting from multiple rollovers of those loans. DFC Global said that it has responded to these developments by implementing higher lending standards. The lender obtained 48% of its revenue from the United Kingdom in fiscal 2012, according to the company's annual report. OTHERS TO WATCH: Other publicly traded payday lending companies include First Cash Financial (FCFS), Cash America (CSH), EZCORP (EZPW) and World Acceptance (WRLD). TODAY'S PRICE ACTION: In mid-morning trading, DFC Global plunged over 18% to $13.59, while First Cash and World Acceptance slid about 2%, Cash America declined 2.7%, and EZCORP fell 3%.
News For DLLR;FCFS;CSH;EZPW;WRLD From The Last 14 Days
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February 9, 2016
05:11 EDTEZPWEZCORP reports Q1 EPS (13c), consensus (6c)
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February 8, 2016
06:05 EDTFCFSFirst Cash Financial completes 211 store acquisition
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06:04 EDTFCFSFirst Cash Financial initates cash dividend program with 12.5c payment
First Cash Financial Services announced details regarding payment of the Company's newly initiated cash dividend program. The Company's Q1 cash dividend of 12.5c per common share will be paid on March 15, 2016 to stockholders of record as of March 1. On an annualized basis, the dividend is currently projected at 50c per common share.
February 5, 2016
12:22 EDTFCFSFirst Cash Financial management to meet with JPMorgan
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February 2, 2016
11:30 EDTCSHCash America management to meet with CL King
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January 29, 2016
10:05 EDTFCFSOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Atlassian (TEAM) upgraded on positive outlook at JMP Securities... BRF S.A. (BRFS) upgraded to Buy from Hold at Deutsche Bank... Bank of America (BAC) upgraded to Outperform from Sell at CLSA... CEMEX (CX) upgraded to Buy from Hold at Jefferies... Chemical Financial (CHFC) upgraded to Outperform from Market Perform at Fig Partners... Computer Programs (CPSI) upgraded to Buy from Hold at Topeka... DST Systems (DST) upgraded to Outperform at Baird... Diamond Offshore (DO) upgraded to Neutral from Sell at Citi... First Cash Financial (FCFS) upgraded to Buy from Neutral at Janney Capital... First Merchants (FRME) upgraded to Overweight from Equal Weight at Stephens... Flex (FLEX) upgraded on solid results at Stifel... Intercept (ICPT) upgraded to Equal Weight from Underweight at Morgan Stanley... J.C. Penney (JCP) upgraded to Neutral from Underperform at Credit Suisse... JetBlue (JBLU) upgraded to Buy from Hold at Evercore ISI... Juniper (JNPR) upgraded to Outperform from Market Perform at Bernstein... Live Oak Bancshares (LOB) upgraded to Buy from Neutral at SunTrust... Microsemi (MSCC) upgraded to Outperform from Market Perform at Wells Fargo... NetSuite (N) upgraded to Buy from Hold at Canaccord... NextEra Energy (NEE) upgraded to Outperform at Baird... Oshkosh (OSK) upgraded to Buy from Neutral at SunTrust... PC Connection (PCCC) upgraded to Market Perform from Underperform at Raymond James... Pinnacle Financial (PNFP) upgraded to Overweight from Equal Weight at Stephens... Potash (POT) upgraded to Outperform from Sector Perform at Scotiabank... Rayonier (RYN) upgraded on valuation at BMO Capital... SanDisk (SNDK) upgraded to Buy from Hold at Needham... Select Comfort (SCSS) upgraded to Outperform from Neutral at Wedbush... Sotherly Hotels (SOHO) upgraded to Buy from Neutral at Janney Capital... Textura (TXTR) upgraded to Outperform from Market Perform at Northland... Valley National (VLY) upgraded to Buy from Hold at Sandler O'Neill.
07:38 EDTFCFSFirst Cash Financial upgraded to Buy on valuation at Janney Capital
As previously reported, Janney Capital upgraded First Cash Financial to Buy from Neutral and a $45 price target on shares. Analyst John Rowan said the Mexican operations are doing well, excluding the impact of FX, and views shares as oversold.
06:42 EDTFCFSFirst Cash Financial upgraded to Buy from Neutral at Janney Capital
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January 28, 2016
06:31 EDTWRLDWorld Acceptance reports Q3 EPS $1.70, consensus $2.01
Reports Q3 revenue $139.70M, consensus $143.07M. Net charge-offs as a percentage of average net loans on an annualized basis decreased from 15.5% to 14.6% when comparing the two quarterly periods. The provision for the quarter decreased $2.9 million dollars quarter over quarter. The lower provision benefited from a $3.2 million decrease in net charge-offs, slower loan growth quarter over quarter, and improved delinquencies in Mexico partially off-set by higher delinquencies in the US.
06:23 EDTFCFSFirst Cash Financial sees Q1 EPS 41c-46c, consensus 59c
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06:23 EDTFCFSFirst Cash Financial sees FY16 EPS $2.20-$2.40, consensus $2.70
Fiscal 2016 estimates are also tempered by further expected declines in earnings from payday lending operations of approximately $0.08 to $0.12 per share, net of tax. The company expects total U.S. payday lending revenues to be less than 3% of consolidated revenues in 2016. The company expects to add approximately 210 to 225 new stores in 2016, of which at least 190 additions have already or are expected to occur in the first quarter. Additionally, the company will continue to look opportunistically for full-service pawn acquisitions in strategic markets in both Latin America and the U.S., which could further drive revenue and result in additional EBITDA growth for 2016.
06:22 EDTFCFSFirst Cash Financial expects Latin American store-level earnings growth 25%-30%
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06:21 EDTFCFSFirst Cash Financial reports Q4 consolidated gross margin on target at 38%
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06:21 EDTFCFSFirst Cash Financial reports Q4 adjusted EPS 73c, consensus 76c
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05:52 EDTCSHCash America expects growth opportunities associated with customer demand
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05:52 EDTCSHCash America backs FY16 EPS $1.25-$1.45, consensus $1.36
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05:51 EDTCSHCash America sees Q1 EPS 35c-41c, consensus 34c
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05:50 EDTCSHCash America reports Q4 EPS cont ops 49c, consensus 48c
Reports Q4 revenue $280.08M, consensus $284.75M.
05:31 EDTCSHCash America increases cash dividend by 60% to 8c
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