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Stock Market & Financial Investment News

News Breaks
April 1, 2013
11:03 EDTWRLD, CSH, FCFS, EZPW, DLLRPayday 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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March 27, 2015
14:44 EDTFCFSFirst Cash Financial management to meet with JPMorgan
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10:03 EDTWRLDOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AEGON (AEG) downgraded to Neutral from Buy at Goldman... Alkermes (ALKS) downgraded to Neutral from Buy at Citigroup... American Eagle (AEO) downgraded to Sell from Neutral at Goldman... ArcelorMittal (MT) downgraded to Sell from Neutral at Citigroup... Black Diamond (BDE) downgraded to Sell from Hold at Feltl... Diodes (DIOD) downgraded to Outperform from Strong Buy at Raymond James... EMC (EMC) downgraded at Pacific Crest... Epizyme (EPZM) downgraded to Neutral from Buy at Citigroup... FutureFuel (FF) downgraded Neutral at Roth Capital... GameStop (GME) downgraded to Neutral from Buy at B. Riley... MSC Industrial (MSM) downgraded to Neutral from Outperform at RW Baird... Pioneer Energy (PES) downgraded to Hold from Buy at Deutsche Bank... Power Integrations (POWI) downgraded to Market Perform at Raymond James... Precision Drilling (PDS) downgraded to Hold from Buy at Deutsche Bank... SanDisk (SNDK) downgraded to Hold from Buy at Evercore ISI... Semtech (SMTC) downgraded to Outperform from Strong Buy at Raymond James... Swiss Re (SSREY) downgraded to Hold from Buy at Jefferies... Vantiv (VNTV) downgraded at SunTrust... Vivendi (VIVHY) downgraded to Underperform from Outperform at Exane BNP Paribas... WESCO (WCC) downgraded to Neutral from Outperform at RW Baird... World Acceptance (WRLD) downgraded to Underperform from Neutral at Macquarie... Zurich Insurance (ZURVY) downgraded to Neutral from Buy at Goldman.
06:23 EDTWRLDWorld Acceptance downgraded to Underperform from Neutral at Macquarie
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March 26, 2015
13:45 EDTCSH, EZPW, FCFSPayday lenders sink after CFPB unveils proposals
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