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Stock Market & Financial Investment News

News Breaks
April 1, 2013
11:03 EDTWRLD, FCFS, EZPW, DLLR, CSHPayday 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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July 30, 2015
07:27 EDTCSHCash America believes growth will be associated with credit customer demand
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06:17 EDTCSHCash America sees FY15 adjusted EPS 95c-$1.10, consensus 98c
Sees FY15 adjusted EBITDA $117M-$125M
06:16 EDTCSHCash America sees Q3 EPS 17c-20c, consensus 18c
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06:15 EDTCSHCash America reports Q2 adjusted EPS 6c, consensus 5c
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July 29, 2015
17:10 EDTEZPWEZCORP expects to produce annual expense savings around $34M after three years
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17:09 EDTEZPWEZCORP announces new strategy, structure, business focus
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July 28, 2015
11:35 EDTCSHCash America management to meet with Sterne Agee CRT
Meetings to be held on the West Coast August 3-4 hosted by Sterne Agee CRT.
06:43 EDTEZPWEZCORP to host conference call
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July 23, 2015
06:34 EDTWRLDWorld Acceptance reports Q1 EPS $2.71, consensus $2.58
Reports Q1 revenue $137.2M, consensus $145.35M. Q1 loan loss provision decreased 15.1% to $26.2M from $30.9M in the year ago quarter. The provision decreased due to a reduction in net charge-offs, slower loan growth, and a smaller increase in past due accounts that are fully reserved when comparing Q1 to 1Q15. Q1 charge-off ratio improved on a quarter-over-quarter basis. Annualized net charge-offs as a percent of net loans were 11.9% for 1Q15 vs.12.7% during the prior year quarter.

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